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Policy: Budgets & Deficits

Expert says Detroit bankruptcy plan is feasible

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News,Business,Detroit,Michigan,Budgets and Deficits

DETROIT (AP) — An expert hired to advise Detroit's bankruptcy judge says the city's plan to get out of Chapter 9 is feasible but there still are many challenges.

Marti Kopacz says the city's computer system "is so broken" that it threatens to thwart Detroit from meeting its commitments. She says it reflects a lack of money and long-term leadership in information technology.

Detroit is planning to make major changes.

Kopacz says the bankruptcy has focused on reducing Detroit's billions in long-term debt. But she says there's no firm financial source for more than $1 billion in future improvements touted by emergency manager Kevyn Orr.

Federal Judge Steven Rhodes hired Kopacz, who's based in Boston and has participated in hundreds of financial restructurings.

Her 207-page report was released Monday.

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