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Partner Craig Barbarosh Quoted in Detroit Free Press on Future of Detroit Finances

Firm News | June 18, 2013
Craig Barbarosh, a partner in the Insolvency and Restructuring practice, spoke with the Detroit Free Press on the historic meeting between Detroit emergency manager Kevyn Orr and the city’s creditors on June 14, 2013. In an attempt to avoid bankruptcy for the Motor City, Mr. Orr is offering to settle debts for less than 10 cents on the dollar, hopefully positioning the city to grow and provide better public services in a sustainable way for years to come. Mr. Barbarosh said he expects weeks of additional discussions between the city and creditors, calling the June 14 meeting "the first mile of a marathon." He added, "The best thing the manager can do is walk the creditors through what the projections are and realistic sources of recovery. Whatever he proposes is not what the final deal will be." ("Stakes High as Kevyn Orr Asks Detroit Creditors Today for Big Sacrifice," June 14, 2013)
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