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]
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 ...
By KATE ROGERS Detroit made history Thursday as the largest American city in history to ever file for Chapter 9 bankruptcy protection. The once vibrant city rooted in auto manufacturing and music ...
Jeff Kowalsky, Bloomberg via Getty Images When the city of Detroit sought bankruptcy protection this month, it marked the largest municipal bankruptcy filing in history, with huge implications for ...
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.
Detroit: Michigan November 6, 2009: Liberty Bank and Trust Company 15 118 Prosperan Bank Oakdale: Minnesota November 6, 2009: Alerus Financial, N.A. 200 119 Gateway Bank of St. Louis St. Louis: Missouri November 6, 2009: Central Bank of Kansas City 28 120 United Commercial Bank: San Francisco California November 6, 2009: East West Bank 11,200 121
A A Automobile Company (1910–1913) 'Blue & Gold, Red John, model Abbott-Detroit (1909–1918) Moved to Cleveland and renamed to 'Abbott' in 1917. Abeln-Zehr (1911–1912) Renamed to 'Zehr' after departure of S. Abeln in 1912. AC Propulsion (1997–2003) tzero model Apex Motor Car Company (1920–1922) Ace model Acme Motor Car Company (1903–1911) Adams Company (1905–1912) 'Adams-Farwell ...
Detroit was determined by a state-appointed review team to be in severe financial distress in 2012. “Bankruptcy is a miserable process," Orr, 65, told The Associated Press earlier this month ...