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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]
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 ...
When Detroit went bankrupt five years ago, the city was “using credit cards to pay credit cards,” in the words of former City Councilwoman Sheila Cockrel, who participated in a panel Wednesday ...
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.
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Wanamaker 's, originally known as John Wanamaker Department Store, was one of the first department stores in the United States. Founded by John Wanamaker in Philadelphia in 1861, it was influential in the development of the retail industry including as the first store to use price tags.
Experts warn that Detroit could become the largest municipal bankruptcy in U.S. history. There are signs everywhere of just how far the city -- which is more than $14 billion in the hole -- has ...
Jean-Baptiste Dumouchelle (5 April 1784, in Dumouchel – 29 March 1844) was born in Sandwich (now Windsor), Quebec. He was a leading figure in Saint-Benoît through his pursuits as a militia officer, general merchant and magistrate.