NEW YORK, March 24 Detroit's emergency manager
said on Monday he hopes the city's plan for financial
restructuring will be approved and in place by the fall.
"We hope to have the hearing completed by the middle of
August or so," the state-appointed manager, Kevyn Orr, said
during an event on Detroit's historic bankruptcy filing at the
Manhattan Institute. "The court would either approve or
disapprove - we hope it's going to approve - that plan after the
hearing in August, hopefully by the fall."
That will be more than a year since the Motor City filed for
bankruptcy protection, the largest municipal filing in U.S.
On Monday, the Detroit News reported that about 32,000
municipal retirees and beneficiaries will soon vote on the
restructuring plan and will receive ballots before April 28.
Orr spokesman Bill Nowling said the unusual balloting
process will be filed with the courts "as soon as it is ready."
(Reporting by Ed Krudy; Additional reporting and writing by
Lisa Lambert in Washington; Editing by James Dalgleish)