Reuters: Bankruptcy News: Detroit emergency manager says hopes to avoid bankruptcy

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Detroit emergency manager says hopes to avoid bankruptcy Mar 14th 2013, 18:45 DETROIT, March 14 | Thu Mar 14, 2013 2:45pm EDT DETROIT, March 14 (Reuters) - Michigan Governor Rick Snyder's selection for emergency financial manager of Detroit said on Thursday that he is hopeful for a quick turnaround of the cash-strapped city. "My contract runs from 12 to 16 months," Kevyn Orr, a partner at the Washington, D.C. law firm of Jones Day, told Reuters in an interview. "But I'm hoping to get this job done quicker. I'll be here as long as it takes. I'm committed." "Hopefully (bankruptcy is) not imminent at all," Orr said.

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