Detroit finances

12:46 pm
Fri February 21, 2014

Detroit Files Plan to Exit Bankruptcy

Lead in text: 
10 year plan would offer city's creditors 20% of what they're owed
The office of Detroit's state-appointed emergency manager Kevyn Orr says the blueprint for the city's restructuring through and after bankruptcy is expected to be filed Friday in federal court.
6:12 am
Thu July 18, 2013

Detroit pension boards file suit to stop cutting of benefits

Lead in text: 
Lawsuit says pension benefits are protected in state Constitution
Detroit's two pension funds on Wednesday sued Emergency Manager Kevyn Orr and Gov. Rick Snyder in an attempt to block Orr from slashing pension benefits for thousands of current and active city workers as part of his plan to restructure the city's massive debt.
8:36 pm
Mon July 15, 2013

Detroit Emergency Manager reaches agreement with some creditors, but no details are released

Lead in text: 
Spokesman for Kevyn Orr says deal should be signed "in next day or two"
Detroit emergency manager Kevyn Orr has reached a settlement with unnamed creditors, according to federal court filings in a lawsuit against a financial insurer his office sued to block from accessing $11 million a month in tax revenue from the city's three casinos.
6:16 am
Mon July 1, 2013

Case would likely remain local if Detroit files for bankruptcy

Lead in text: 
Unlike corporations all of Detroit's operations and assets are in city
When Detroit auto giants General Motors and Chrysler filed for bankruptcy in 2009, their cases wound up in New York. The City of Detroit, legal experts say, won't share that fate should it take the unprecedented step of seeking Chapter 9 protection.
7:28 am
Tue June 11, 2013

Detroit Emergency Manager says public safety is priority

Lead in text: 
Kevyn Orr says tough choices lie ahead to avoid bankruptcy
Emergency manager Kevyn Orr, in his first public hearing since he was appointed to take over the troubled city in March, sought to reassure residents that Detroit will emerge from his tenure streamlined, with less debt and a plan to keep it that way.

Pages