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Orr: No guarantees for pensions or Detroit Institute of Arts items

DETROIT (WKZO) -- Detroit Emergency Manager Kevyn Orr isn't making any guarantees when it comes to city assets and pensions as bankruptcy proceeds.

Orr answered questions Thursday in front of several hundred people at a Detroit Economic Club luncheon and expressed confidence that the city will be found eligible for Chapter 9 protection after this month's hearing.  The EM says he understands the predicament of pensioners and city workers who could be affected.

Orr defended the ongoing appraisal of works at the Detroit Institute of Arts, adding that it might be possible to maximize the collection's value by means other than outright sales.