Detroit officially exits bankruptcy
Detroit has now emerged from bankruptcy. Governor Rick Snyder was joined by Mayor Mike Duggan and Emergency Manager Kevyn Orr to address Detroit's exit from the financial emergency.
Kevyn Orr has resigned and he will soon be leaving town.
"It's time for me to step back and return the city to the regular order," said Orr.
Governor Snyder thanked Orr for his help in getting the city back on financial track, calling it a "historic day" for the city.
"You'll always be considered an honorary Michigander," Governor Snyder told Orr.
“Detroit stands taller today,” Snyder said. “Our state’s largest city has moved through this historic bankruptcy to move toward a brighter future. This was difficult work that required bold leadership and sacrifices from many people, and there is more to do. But we also have watched through this process the people of our state draw closer and stand together in support of Detroit, recognizing that all of Michigan is better when the city thrives.”
Detroit Mayor Mike Duggan also spoke during the news conference. "It's a good day for the city... a necessary day," Duggan said.
He says now is the time to put talk of bankruptcy and financial emergency behind us.
Kevyn Orr's term as EM will officially end on Thursday, December 11 at 12:01 a.m.
Full story at WXYZ.com:
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