Search results
Results from the WOW.Com Content Network
The decline of population and employment opportunities in Detroit had been going on for decades prior to the bankruptcy filing. Detroit’s population declined from 2 million in 1950 to 714,000 in 2010. [21] Jobs followed the population, as over two-thirds of businesses in Detroit closed between 1972 and 2015. [22]
On July 18, 2013, the restructuring expert did just that, making Detroit the largest city in the U.S. to file for bankruptcy. “Bankruptcy is a miserable process," Orr, 65, told The Associated ...
Best Products – filed for bankruptcy for the second time in September 1996 [33] [34] and closed all of its stores by the following February [35] [36] Brendle's – became bankrupt and liquidated in 1996 [37] [38] Consumers Distributing – sought bankruptcy protection in 1996; Ellman's – acquired by Service Merchandise in 1985 [39] [40]
The first municipal bankruptcy legislation was enacted in 1934 during the Great Depression. [2] Although Congress attempted to draft the legislation so as not to interfere with the sovereign powers of the states guaranteed by the Tenth Amendment to the Constitution, the Supreme Court held the 1934 Act unconstitutional as an improper interference with the sovereignty of the states. [2]
For premium support please call: 800-290-4726 more ways to reach us
“America is going bankrupt btw,” Musk wrote in a recent post on the social media platform X. He was responding to a post by Billy Markus, the creator of Dogecoin. Don't miss.
Phhhoto, Inc. v. Facebook, Inc. On November 4, 2021, Facebook was sued by defunct app Phhhoto for allegedly copying their features and then hiding their name from search results, forcing them to go bankrupt. This came after Meta expressed interest in working with them. [96] [97] November 15, 2021: The State of Ohio v. Facebook, Inc.
For most of her clients under 35, she says, the slide toward bankruptcy starts with a car accident or a medical bill. “You can’t afford your deductible, so you go to Moneytree and take out a loan for a few hundred bucks. Then you miss your payments and the collectors start calling you at work, telling your boss you can’t pay.