On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
75° Feels Like: 75°
Wind: SW 12 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Scattered Thunderstorms 79°

Tonight

Scattered Thunderstorms 67°

Tomorrow

Mostly Sunny 79°

Detroit Emergency Manager reaches out to creditors

Detroit's emergency financial manager Kevyn Orr talks to members of the media outside the Detroit Newspapers building about the report he de
Detroit's emergency financial manager Kevyn Orr talks to members of the media outside the Detroit Newspapers building about the report he de

DETROIT (WKZO) -- Detroit Emergency Manager Kevyn Orr has reportedly reached out to several major creditors.

Orr is gauging support for his restructuring plan, which he is scheduled to unveil Friday.  According to a source close to the Emergency Manager, Orr has had preliminary discussions with Royal Bank of Canada, Bank of America, J.P. Morgan Chase and Company and several hedge funds.

During Friday’s meeting with roughly 150 representatives of bondholders, pension funds and other debt holders, Orr is expected to outline his proposal to stave off a Chapter 9 bankruptcy filing by Detroit.

Comments