Detroit’s plan to get out of bankruptcy is feasible, a court-appointed expert testified Wednesday as the last witness in a historic trial to determine whether the largest city in U.S. history to file for Chapter 9 can get back on its feet.
WWJ’s Charlie Langton and co-host Mark Lee spoke about the future of Detroit with Former Detroit City Council Member Ken Cockrel, Karen Dumas and Sandy Baruah, President of the Detroit Regional Chamber.
Orr also was questioned on various topics associated with the bankruptcy, including the city’s poor track record of collecting taxes.
Orr’s debt restructuring plan, in which deals have already been reached with most creditors, sets aside $1.7 billion for improving city services.
Businessman Dan Gilbert has testified during Detroit’s bankruptcy trial that the city’s high crime rate, poor school system, unemployment and blighted neighborhoods are its major challenges.
Disappointing news for Detroit residents who were hoping for a moratorium on unpaid water bills …
The Detroit City Council on Thursday unanimously approved a plan to transfer daily operations to elected officials while retaining the state-appointed emergency manager to oversee bankruptcy matters until they are resolved.
Critics of the shutoffs say public health and children’s welfare are at risk in homes without water, arguing that “every resident has the inherent right to free water.”
Detroit and bond insurer Syncora finished the deal announced last Tuesday to settle over $400 million in claims.
Despite its controversial genesis of Michigan taking over Belle Isle as a state park amid Detroit’s bankruptcy last year, the end result has been positive.