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Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
On July 18, 2013, Detroit, Michigan became the largest city in the history of the United States to file for Chapter 9 bankruptcy protection. Jefferson County, Alabama , in 2011, and Orange County, California , in 1994, are also notable examples.
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
Bankruptcy was a dream practice because usually I was able to solve their financial woes, and I had plenty of clients -- almost half a million people filed last year. A Chapter 7 bankruptcy (or BK ...
Filing for bankruptcy halts most collection activities — at least temporarily. The automatic stay stops creditors from pursuing further legal action, which gives you breathing room to reorganize ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
The November bankruptcy filing leaves at least 15 EMS agencies across the state in financial distress and endangers the availability of emergency services for Michiganders in the eastern U.P.
The first PureSleep store opened in Canton, Michigan in July 2009, and by 2020, there were 60 PureSleep stores, plus a PureSleep department in every full-line Art Van location. [34] [35] As part of Art Van's bankruptcy filing, all remaining standalone PureSleep locations closed permanently on March 16, 2020. [35]
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