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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 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 ...
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's population reaches its height at 1.85 million. [12] 1951 - Detroit celebrates its 250th anniversary with exhibitions, parades, lectures, entertainments, historical publications, new building construction and more. 1954 - City-County Building constructed. 1955 Anna Scripps Whitcomb Conservatory on Belle Isle active. [23]
During its bankruptcy, Diamond has missed payments to the Arizona Diamondbacks, Texas Rangers, Cleveland Guardians and Minnesota Twins of Major League Baseball (MLB), the Arizona Coyotes of the National Hockey League (NHL), the Orlando Magic of the National Basketball Association (NBA), and to Raycom Sports for its ACC on Regional Sports ...
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In 2009, Detroit Metro Airport launched its first social media efforts with participation in Twitter, Facebook, and YouTube networks. Detroit was a major hub for Northwest Airlines from 1986 to 2010; Northwest merged with Delta Air Lines, and Detroit became Delta's second-largest hub.