DETROIT

Orr Reaches Settlement With Some Detroit Creditors | Detroit Free Press

Jul 15, 2013
AP

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.

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