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Detroit Emergency Manager: City was in danger of collapse

Detroit's emergency financial manager Kevyn Orr talks to members of the media outside the Detroit Newspapers building about the report he de
Detroit's emergency financial manager Kevyn Orr talks to members of the media outside the Detroit Newspapers building about the report he de

DETROIT (WKZO) -- According to a deposition, Detroit Emergency Manager Kevyn Orr says the city's finances would have been on the verge of collapse if Detroit did not gain access to all of its casino tax revenues.  The deposition was taken last Friday by Snycora and other creditors who are challenging a June agreement between the city and two banks to allow access to the tax revenues, which Orr said was necessary to provide for the health and safety of residents.

Orr also said that while the city is beginning to appraise over three-thousand pieces of art at the Detroit Institute of Arts, he has no plans to use the collection to deal with the financial crisis.

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