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Detroit Filing for Bankruptcy

Detroit's Emergency Financial Manager Kevyn Orr talks to members of the media outside the Detroit Newspapers building about the report he de
Detroit's Emergency Financial Manager Kevyn Orr talks to members of the media outside the Detroit Newspapers building about the report he de

DETROIT (WHTC) -- The Motor City is dead broke.  Karen Dumas a former communications director for the city who says the bankruptcy filing has been a long time coming.  She says with the appointment of emergency manager Kevyn Orr, who is also a bankruptcy attorney she thought that bankruptcy was inevitable.  Detroit became the largest U.S. city to file for federal bankruptcy protection.  The filing will give the city a 30 to 90 day period to determine if it qualifies for Chapter 9 protection to fend off creditors and restructure its finances.  A recent report from Detroit's emergency manager points out that over the past 60 years, the population of Detroit has fallen by more than one-million. 

Stroy by: Diane E Coston

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