Detroit Manager Presents Bankruptcy Plan To Creditors

Law360, New York (January 30, 2014, 2:41 PM EST) -- Detroit Emergency Manager Kevyn Orr presented a proposed plan to pay back creditors Wednesday, and though the details are being kept under wraps for now, he says an official plan will be filed in bankruptcy court in about two weeks.

The proposal outlines how the claims of each class of creditors will be treated under the restructuring and reflects some of the discussions the city’s leaders have had with creditors during a court-ordered mediation process, the city said.

The filing of a plan will be a...
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