DETROIT (WKZO) -- Detroit Emergency Manager Kevyn Orr says he is ready to move forward with restructuring the City of Detroit after a judge ruled the city is bankrupt. Orr says the judge's ruling was "thoughtful and reasoned" and he plans to introduce a restructuring proposal in January.
When discussing the city's pensioners, who will likely see a reduction in their monthly income, Orr said the city will be "thoughtful, measured and humane" in those negotiations. He again stated that the city needs to relieve long-term liabilities that currently take up 40-cents of every dollar made by the city.
Orr also said he hopes creditors and unions will come forward to negotiate, however some unions have already filed an appeal to Judge Steven Rhodes' ruling.