The judge overseeing Detroit’s bankruptcy is ready to decide whether the city’s plan to regain solvency is a good one.
Most of donation will be used for the DIA’s $100 million commitment to the so-called grand bargain. The rest will go toward reinstalling the museum’s Japanese collection in a new gallery.
A deal has been reached between the city of Detroit and its public school district Tuesday — in the form of a trade.
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.