ORR STANDS UP TO THE CASINOS! Detroit— An insurance company sued by the city last week in an attempt to recover $11 million per month in casino payments filed an emergency motion late Friday seeking to have the lawsuit revoked. The company claimed in Friday’s filing in U.S. District Court in Detroit that Emergency Manager Kevyn Orr exaggerated and omitted key information in its suit. Wayne County Circuit Judge Annette Berry on July 5 granted the city’s request for the temporary restraining order. “Though the (city’s lawsuit) paints the city as a victim pushed to the brink of financial disaster by Syncora Guarantee Inc. ... the city’s (suit) tells just half the story, conveniently mischaracterizing or omitting those parts that would reflect poorly on the City and its Emergency Financial Manager, Mr. Kevyn Orr,” the lawsuit reads. The company, New York-based Syncora Guarantee Inc., claims Orr and his team never intended to engage in good-faith negotiations. Syncora also said it wants to depose Orr, who it accuses of “blatantly disregarding the law,” and putting “egregious misrepresentations and omissions” in last week’s lawsuit. In its prior suit, the city said Syncora is keeping Detroit from receiving all the money it should be getting from its three casinos, which, Orr said, could jeopardize the city’s restructuring efforts. Orr claimed the money Syncora is holding up each month is enough pay firefighters for two months or keep police patroling the city streets for a month. From The Detroit News: detroitnews/article/20130713/METRO01/307130031#ixzz2YzZAdF6x
Posted on: Sun, 14 Jul 2013 04:46:33 +0000
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