Bankruptcy attorney appointed to run Detroit

Kevyn Orr was named as the emergency manager of Detroit by Michigan Gov. Rick Snyder. Orr is a bankruptcy attorney and will have many of the same powers that a bankruptcy judge would have including canceling city contracts. This does not necessarily mean that Detroit may not have to file for bankruptcy relief. Orr believes that he can affect a turnaround within eighteen months. The appointment was opposed by city council but backed by the Mayor.

For more details read, “Detroit, in financial trouble, gets emergency manager.

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