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Detroit bankruptcy judge chooses expert to review restructuring plan

A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013.
Credit: Reuters/ Rebecca Cook
A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013. Credit: Reuters/ Rebecca Cook

DETROIT (WKZO) -- U.S. Bankruptcy Judge Steven Rhodes has made his decision on who will review the city of Detroit's restructuring plan.

Tuesday, Rhodes selected Martha Kopacz of Phoenix Management Services in Boston to asses the viability of the plan of adjustment . Her firm will charge up to 1.2-million dollars for a staff of up to five people to determine if the feasibility of the proposal. She will submit a report of the findings to Rhodes by June 24th and will be called to testify during a hearing on the plan in July.

Former New York Lieutenant Governor Richard Ravitch will also serve as a municipal finance consultant free of charge to the city.

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