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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]
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The City of Detroit has long been bankrupt -- but now it's official. On Thursday, the City of Detroit petitioned the U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division ...
Experts warn that Detroit could become the largest municipal bankruptcy in U.S. history. There are signs everywhere of just how far the city -- which is more than $14 billion in the hole -- has ...
Federal's was founded in 1929. [1] In 1961, Federal's merged with Kobacker's of Columbus, Ohio and in 1969, [2] it bought Shifrin-Willens Jewelers. [3] The chain filed for bankruptcy in 1972. [4]
With the city on the verge of bankruptcy, most of the department's remaining services were contracted out to a private agency, the Institute for Population Health (IPH). [2] However, upon successful progress post-bankruptcy the City of Detroit was able to take control of many of the services that were transitioned to IPH in 2014 and 2015. In ...
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 city can now proceed with its Chapter 9 bankruptcy. Detroit's emergency manager Kevyn Orr will soon That was the determination of Judge Steven Rhodes earlier this week.