DETROIT (AP) — Kevyn Orr's success in shepherding Detroit through its historic bankruptcy will leave him unemployed, at least temporarily, when and if his task in the Motor City is complete. The turnaround expert who helped Chrysler through its 2009 Chapter 11 restructuring says he has given no thought to what he will do once Detroit's bankruptcy trial ends. "Orr and his team have really done an extraordinary job in the last 18 months in guiding the city through uncharted water," said Michael Sweet, a bankruptcy attorney with Fox-Rothschild's San Francisco office. While that has not happened yet, the massive debt, thousands of creditors and complex union and pension issues had many experts thinking Detroit's bankruptcy would take years to resolve, considering two California cities — Stockton and San Bernardino — filed a year before Detroit did and still haven't settled on plans. The plan calls for $1.7 billion to be used to pay for improved police, fire and other critical city services. Other cities faced with similar financial troubles are most certainly looking at Orr's Detroit work, said bankruptcy expert James Spiotto.
Comment on Bankruptcy's end more clear than Orr's future
By COREY WILLIAMS, Associated Press, San Antonio Express-News: World
Sun, 09/28/2014 - 10:36am
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