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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, 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 ...
By the time Detroit filed for bankruptcy in the summer of 2013, the city had been experiencing urban blight for decades. A multitude of factors, including racial unrest, a struggling automotive industry, and white flight had deprived the city of a tax base, leading to deficits and a failure of the municipal system. [1]
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Compuware Corporation was an American software company based in Detroit. [1] The company offered products aimed at the information technology (IT) departments of large businesses, and its services also included testing, development, automation and performance management software for programs running on mainframe computer systems.
The Detroit News reported that more than half of Detroit property owners did not pay taxes in 2012, at a loss to the city of $131 million (equal to 12% of the city's general fund budget). The first comprehensive analysis of the city's tens of thousands of abandoned and dilapidated buildings took place in the spring of 2014.
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As previously noted by the Detroit Free Press, Bally Sports Detroit is able to be streamed in-market on the Bally Sports+ app as it is one of few Diamond Sports regional channels that allows in ...