Wednesday, May 04, 2016
Current Weather
Loading Current Weather....
Published: Tuesday, 10/29/2013

Detroit manager quizzed about bankruptcy decision

Emergency manager Kevyn Orr Emergency manager Kevyn Orr

DETROIT  — Detroit’s emergency manager says he took the city into bankruptcy in July after making no progress with creditors.

Referring to lawsuits by Detroit retirees and legal challenges to much-needed revenue from casinos, Kevyn Orr said today that “things were starting to spiral out of control.”

Orr is back in the witness chair at a trial to determine if Detroit’s bankruptcy case can move ahead. He says the city has $18 billion in debt and needs Chapter 9 to reorganize.

Unions and pensions funds say Detroit didn’t negotiate in good faith before the filing. They want the case thrown out.

Michigan Gov. Rick Snyder testified Monday that bankruptcy was a “last resort” but the right decision. He appointed Orr and approved the bankruptcy.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories