Detroit manager: Bankruptcy challenges costly

Published October 2, 2014 9:10pm ET



DETROIT (AP) — Court battles with one of Detroit’s most antagonistic creditors would have been costly and had the potential to delay the city’s restructuring efforts, city emergency manager Kevyn Orr testified Thursday.

Orr, the key witness this week in Detroit’s bankruptcy trial, described a contentious relationship with New York-based Syncora Inc. that ended last month when the city reached a deal with the bond insurer on about $400 million in debt.

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