Emergency Manager Oversight To End Soon for Bankrupt Detroit

September 25, 2014 – In The News
Reuters

Michael A. Sweet was quoted in the Reuters article, “Emergency Manager Oversight To End Soon for Bankrupt Detroit.” Full text can be found in the September 25, 2014, issue, but a synopsis is below.

Detroit Emergency Manager Kevyn Orr will end his 18-month term this week, leaving a city still stuck in operational and fiscal uncertainty and arguing for approval of its bankruptcy plan in court.

City officials have been meeting behind closed doors and are expected by many to give Orr a temporary role that would allow him to see the bankruptcy case to its end. While the case will not be wrapped up with Orr at the helm, its resolution would be relatively fast.

“He (Orr) and his team have managed to do what people at the offset said was unthinkable... to get to a plan which I expect will be confirmed in record time,” said Michael Sweet.