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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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1813 - September: British forces retreat from Detroit after the Battle of Lake Erie, and the city would serve as a base for the American invasion of Upper Canada. 1815 - October 24: territorial governing council enacts the charter for the City of Detroit to be governed by a five-person board of trustees. [1] 1817
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English: Bankruptcy petition (stylized)} it covers the basic elements from page 1 of Detroit's filing, enough to create a summary for the article}. Also, since this is simply text from a government filing, it is automatically in the public domain.
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