Michigan Governor Rick Snyder (R) is optimistic that Detroit's bankruptcy case can be wrapped up during the remaining tenure of the emergency manager he installed to run the cash-strapped city, Reuters reported yesterday. Snyder appointed bankruptcy attorney Kevyn Orr to an 18-month posting as the city's emergency manager. Then in July, with Snyder's approval, Orr filed the largest municipal bankruptcy in U.S. history, citing a mountain of debt and liabilities in excess of $18 billion. Orr has said that he expects to depart by September 2014 at which point he also expects Detroit to emerge from bankruptcy. The federal judge presiding over Detroit's bankruptcy also has indicated he is seeking to move the case speedily through bankruptcy court.
