The City of Detroit is expected to officially exit bankruptcy on Wednesday and Emergency Manager Kevyn Orr has resigned. Orr says Detroit’s long term debt was $18 billion when he was appointed by Governor Rick Snyder to be Emergency Manager.
The city is under the control of the State Financial Review Commission for the next 13 years that will make sure Detroit does not end up in another financial crisis.
A press conference has been scheduled for Wednesday at 11 a.m.
