Detroit’s emergency financial manager may file a proposed debt-adjustment plan in federal court in about two weeks, an action that would start the final phase in the city’s record $18 billion municipal bankruptcy, Bloomberg News reported today. The manager, Kevyn Orr, has given a copy of the plan to creditors, his spokesman, Bill Nowling, said yesterday. Creditors will have a chance to vote on the proposal once it’s filed in the bankruptcy court and Bankruptcy Judge Steven Rhodes determines it gives enough information. The plan reflects details already presented to creditors who have been negotiating with the city since it filed for bankruptcy in July, Orr said. Judge Rhodes had told the city he wanted it to file a plan by March 1.
