Kevyn Orr: Detroit’s Financial Emergency Over

BY COREY WILLIAMS
Associated Press

DETROIT — Detroit’s emergency manager says the city no longer will be in a financial emergency when it officially exits bankruptcy.

Kevyn Orr tells Gov. Rick Snyder in a letter Tuesday that he has implemented the city’s two-year budget that reflects the elimination of about $7 billion in debt through the largest municipal bankruptcy in U.S. history.

Snyder says in a letter that he agrees with Orr’s determination.

A hearing is scheduled Monday to determine Detroit’s bankruptcy exit date.

Orr was hired by the state in March 2013 and given control of Detroit’s finances. He made Detroit the largest U.S. city to file for bankruptcy in July 2013.

Control was returned in September to the mayor and City Council when Orr’s 18-month contract ended. He remained onboard to oversee the conclusion of Detroit’s bankruptcy.