A judge will decide next week whether Detroit’s plan is fair and feasible in the largest public bankruptcy in U.S. history.
Michael Bolton has been working on the documentary for about two years and expects the film should be completed in early 2015.
A key component of what’s known as the Grand Bargain is a deal to help protect pensioners as Detroit goes through bankruptcy. That deal depends on the Detroit Institute of Art reaching its $100,000,000 fundraising goal.
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.