Reuters: Bankruptcy News: Detroit's Orr, after meeting creditors, says bankruptcy still possible

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's Orr, after meeting creditors, says bankruptcy still possible Jun 14th 2013, 16:59 DETROIT, June 14 | Fri Jun 14, 2013 12:59pm EDT DETROIT, June 14 (Reuters) - Detroit Emergency Manager Kevyn Orr said he still sees a 50/50 chance the city will have to file the largest municipal bankruptcy in U.S. history. Orr spoke after he met with holders of some $17 billion in Detroit debt and called on them to accept a substantial cut in the money they are owed. He also announced at the meeting a moratorium on some debt service payments, which Fitch Ratings said amounted to a default on those bonds.

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