facebook
twitter
search
search

Detroit to get emergency manager

Feb. 10, 2013 at 2:52 PM

DETROIT, Feb. 10 (UPI) -- Facing $12 billion in debt and pension liabilities, Michigan's governor will appoint an emergency manager to overhaul Detroit's city finances, officials said.

Lawyers hired by the state have infiltrated all city departments in an attempt to find savings and identify wasted resources in advance of deploying the emergency manager. The three-person panel overseeing the brass tacks review of city government is due to release a report as early as Saturday, the Detroit News said. It is the final legal step necessary to appointing someone with the legal authority to overrule Detroit Mayor Dave Bing and the city council.

Michigan Gov. Rick Snyder commended city leaders for recent cost-cutting changes but said he'd prefer they'd have been done months ago.

The emergency manager will be responsible for either restructuring Detroit's debt or guiding the city through bankruptcy.

Related UPI Stories
Latest Headlines
Top Stories
Islamic State militants repelled in counter-attack on Ramadi university
Jon Stewart, Obama held secret meetings at White House
Rep. Mark Meadows seeks ouster of John Boehner as speaker
Afghan Taliban top commander Mullah Omar died two years ago
Cameroon to deploy 2,000 extra troops for fight against Boko Haram