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Orr's Busy Week: Meetings With Residents, Then Creditors.

June 10, 2013



"The City of Detroit still needs services. And when it goes through this (restructuring) process, the city's going to be much more creditworthy than it is right now."

Jim McTevia, Michigan financial consultant who specializes in keeping clients out of bankruptcy.

Detroit Emergency Manager Kevyn Orr has two big meetings this week, as he tries to get the city's finances back on track. On Monday, he's scheduled to attend a public informational meeting at the Wayne State Unviersity Law School's auditorium. That meeting begins at 6:30 PM. On Friday, he's expected to meet with creditors, union leaders, and officials from the city's pension funds. It's supposed to be the first step in talks to restructure the city's debt, estimated at 15-billion dollars. Jim McTevia is a financial consultant who specializes in keeping clients out of bankruptcy. WDET's Pat Batcheller asked McTevia what Orr's biggest challenge is in dealing with creditors. Click on the audio link above to hear the conversation.