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.
Monday, July 15, 2013
Orr reaches settlement with some Detroit creditors
The Detroit Free Press reports:
