the republic logo

Quicken Loans' Gilbert testifies in Detroit bankruptcy trial, points out city's challenges

bug
Share/Save/Bookmark

DETROIT — Businessman Dan Gilbert has testified during Detroit's bankruptcy trial that the city's high crime rate, poor school system, unemployment and blighted neighborhoods are its major challenges.

The founder of mortgage lender Quicken Loans also said Wednesday that $850 million is needed to wipe out Detroit's blight, which includes tens of thousands of abandoned houses and trash-filled lots.

PHOTO: In a Tuesday, Sept. 30, 2014 photo, Detroit emergency manager Kevyn Orr waves as he leaves the Levin Federal Court Building in Detroit after testifying in the Detroit bankruptcy trial. Orr also is expected to testify Wednesday in the trial overseen by federal Judge Steven Rhodes. Rhodes is to decide if Detroit’s plan to remove $7 billion in debt is fair to creditors. (AP Photo/Detroit News, Charles V. Tines)  DETROIT FREE PRESS OUT; HUFFINGTON POST OUT
In a Tuesday, Sept. 30, 2014 photo, Detroit emergency manager Kevyn Orr waves as he leaves the Levin Federal Court Building in Detroit after testifying in the Detroit bankruptcy trial. Orr also is expected to testify Wednesday in the trial overseen by federal Judge Steven Rhodes. Rhodes is to decide if Detroit’s plan to remove $7 billion in debt is fair to creditors. (AP Photo/Detroit News, Charles V. Tines) DETROIT FREE PRESS OUT; HUFFINGTON POST OUT

Gilbert was one of the leaders on a blight removal task force that looked at all city properties.

State-appointed emergency manager Kevyn Orr also is expected to testify Wednesday in the trial overseen by federal Judge Steven Rhodes. Rhodes is to decide if Detroit's plan to remove $7 billion in debt is fair to creditors.

Orr's debt restructuring plan sets aside more than $1 billion for improving city services, including blight eradication.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.