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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]
Some bankruptcy proceedings ended on May 31, 1990, forty years after Frontier was formed, but the Chapter 11 case was closed July 22, 1998, by Charles E. Matheson, Chief Judge. [3] M. C. "Hank" Lund and other former Frontier executives went on to start a new airline, also named Frontier Airlines, which began Boeing 737 flights on July 5, 1994 ...
Detroit auto show begins. Area of city: 41 square miles. 1909 - Ford Building constructed. 1911: Chevrolet opens its first factory in Detroit. This was significant in the birth of Detroit as the center of the American automobile industry, something that became huge in the city's economy and overall identity. 1912 Navin Field (baseball park) opens.
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 following is a list of defunct airlines of the United States.However, some of these airlines have ceased operations completely, changed identities and/or FAA certificates and are still operating under a different name (e.g. America West Airlines changed to use the identity of US Airways in 2005 – which itself also changed identity to American Airlines in 2015).
In 2013, Detroit had some 21,000 retired workers who were owed benefits, with underfunded obligations of about $3.5 billion for pensions and $5.7 billion for retiree health coverage.
[7] [8] In 1974, the company changed its name to Ground Air Transfer, Inc. In 1983, the airline service was founded in Macomb County, Michigan , by Ned Homfeld as Charter One Airlines , a Detroit -based charter tour operator providing travel packages to entertainment destinations such as Atlantic City , Las Vegas , and the Bahamas .