Search results
Results from the WOW.Com Content Network
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, 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 ...
The architect of the bankruptcy filing was Kevyn Orr, a lawyer hired by then-Gov. Rick Snyder in 2013 to fix Detroit's budget deficit and its underfunded pensions, healthcare costs and bond payments.
By the time Detroit declared bankruptcy at 4:06 p.m. on July 18, 2013, Detroit had accumulated $18 billion in debt and city retirees' pension funds were underfunded by $3.5 billion. The number of ...
Date Bankruptcy filed National Florida Airlines [3] December 1, 1983 Excellair July 7, 1984 Oceanaire Lines February 10, 1984 Connectaire October 10, 1984 Princeton Air Link: August 11, 1988 Air Kentucky: July 19, 1989 Eastern Air Lines: January 18, 1991 Northcoast Executive: January 29, 1991 Midway Airlines (1976-1991) November 27, 1991 L ...
Detroit (/ d ɪ ˈ t r ɔɪ t / ⓘ dih-TROYT, locally also / ˈ d iː t r ɔɪ t / DEE-troyt) [8] is the most populous city in the U.S. state of Michigan. It is the largest U.S. city on the Canadian border and the county seat of Wayne County. Detroit had a population of 639,111 at the 2020 census, [9] making it the 26th-most populous city in ...
It was the first city and for a long time only railway transit in the city. Operations are driverless. 1988 - Bel-Air cinema in business. [21] 1990 Nelson Mandela visits Detroit. Population: 1,027,974. [12] 1992 - November 5: Black motorist Malice Green dies after struggling with white policemen Larry Nevers and Walter Budzyn during a traffic ...
When Detroit became the largest municipality to go bankrupt in 2013, it had fallen hard from its glory days of the early to mid 20th century, when Henry Ford’s arrival and creation of the first ...