CHICAGO -- Detroit emergency manager Kevyn Orr said Friday he expects an eligibility fight over the city’s petition to file for Chapter 9 bankruptcy protection, but that his plan to pay creditors between 10 cents and 20 cents on the dollar should make for a speedy process.

At a Friday morning press conference with Michigan Gov. Rick Snyder after the city’s momentous decision to file bankruptcy, Orr also said his recent settlement with counterparties on its interest-rate swaps is critical to the city’s recovery over the next decade.

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