Kevyn Orr

In a desperate attempt to avoid bankruptcy, Detroit’s Emergency Financial Manager, Kevyn Orr, announced the financially ailing city’s plan to immediately stop paying down $2.5 billion of its $18.5 billion of long-term debt. “Detroit’s road to recovery begins today,” Orr told a room full of nearly 150 of the city’s creditors. “Financial mismanagement, a shrinking […]