Kevyn Orr: Bankruptcy is the first step toward restoring Detroit - New York News

Kevyn Orr: Bankruptcy is the first step toward restoring the city

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Detroit Emergency Manager Kevyn Orr on the day Detroit filed for Bankruptcy. Detroit Emergency Manager Kevyn Orr on the day Detroit filed for Bankruptcy.
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DETROIT (WJBK) -

Detroit's emergency financial manager says bankruptcy is the "first step toward restoring the city."

The comments came after Detroit became the biggest U.S. city to file for bankruptcy Thursday.
 
The filing put the city on an uncertain course that could mean laying off municipal employees, selling off assets, raising fees and scaling back basic services such as trash collection and snow plowing, which have already been slashed.
 
Emergency financial manager Kevyn Orr says it's business as usual in Detroit. He says the city will stay open and bills will be paid.
 
Detroit Mayor Dave Bing says he didn't want the city to go bankrupt, but now that it's happened, the people of the city "have to make the best of it."

Play the video to hear what Orr's take on why the city needed to file for Bankruptcy.

He closed a press conference by saying that he understands how people unfamiliar with bankruptcy see it in a negative light.  He says he's been through this before and he urges everyone to "stay tuned."

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