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We Hope This Encounter Wasn't As Awkward As It Looks

Written By Unknown on Monday, May 20, 2013 | 1:33 PM

May 20, 2013

By Bernie Woodall and Karen Pierog

DETROIT, May 19 (Reuters) - Bond restructurings, negotiated settlements with bondholders and bond insurers, and tough talk with unionized workers are on the agenda as Detroit's emergency financial manager tries to meet a self-imposed, six-week deadline to decide whether the city can get through its financial crisis without a bankruptcy filing.

Kevyn Orr, a former bankruptcy lawyer, in his first report to the state of Michigan since Governor Rick Snyder appointed him, laid out last week a bracing picture of steps he may need to take to address the city's troubles.

As he has gone about his work, though, with unions, bond insurance firms and others, Orr so far has communicated little about how they will be affected.
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