CHICAGO — Detroit emergency manager Kevyn Orr and the city’s investment banker said in court depositions that the urgent need to access casino revenue drove tense negotiations with its interest-rate swap counterparties in the days before the city’s historic bankruptcy filing.

The settlement remains key to the city’s long-term solvency, Orr said.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.