Jul 18, 2014 4:22 PM
A year into the process, Detroit is farther along than virtually every so-called expert predicted.
"We're further along than any other municipal bankruptcy has been to date, and we're much bigger and complicated than those other bankruptcies that have come along," said Bill Nowling, spokesman for Emergency Manager Kevyn Orr.
Orr and his team will go to federal court in mid-August to try and get final approval for the plan of adjustment. That's the city's blueprint out of bankruptcy.
Already, Orr has made deals with the vast majority of the city's creditors. There's a long-range financial plan in place for the next 10 years for Detroit based on real numbers and real projections.