Orr Reaches Settlement With Some Detroit Creditors | Detroit Free Press

Orr Makes A Deal With Some Creditors

Detroit emergency manager Kevyn Orr has reached a settlement with unnamed creditors, according to federal court filings in a lawsuit with a financial insurer his office sued to block from accessing $11 million a month in tax revenue from the city’s three casinos.

The filings do not name the creditors, but Orr’s office has been working for weeks on a settlement of $340 million in unsecured debts involving UBS AG and Merrill Lynch Capital Services.

Popular in the Community

Close

What's Hot