DETROIT (WKZO) -- Detroit Emergency Manager Kevyn Orr is expected to present a more detailed restructuring plan to a group of Detroit creditors next Friday. Sources say the meeting could be the starting point for negotiations to keep the city from going bankrupt.
The meeting, scheduled to be held at Detroit Metro Airport, is expected to include up to 150 bondholders, union leaders and pension fund representatives. The talks come amid growing speculation that the city could be headed for Chapter 9 bankruptcy.
Orr’s spokesperson Bill Knowling has confirmed the meeting.