Following months of negotiations and court dates, Detroit finally emerged from a historic bankruptcy yesterday with a new plan for the future.
The city’s former Financial Emergency Manager, Kevyn Orr, who resigned his post yesterday, was the central manager in the largest-ever municipal bankruptcy, leading the city through a fairly speedy Chapter 9 that shaved $7 billion of its $18 billion in debt.
Stephen Henderson, Detroit Free Press Editorial Page Editor and host of Detroit Public Television’s (DPTV) American Black Journal, sat down with Orr for a one-on-one interview to discuss the bankruptcy, its effects on Detroit, and the short and long-term goals for the city.
Orr was appointed by Michigan Governor Rick Snyder on March 14, 2013 to serve as Detroit’s Financial Emergency Manager. Prior to that, he served a key role in Chrysler’s 2009 bankruptcy and restructuring. Prior to coming to Detroit, Orr was a partner in the Washington, DC office of the international law firm Jones Day.