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Billions in Debt, Detroit Tumbles Into Insolvency
SHARE 10334 CONNECT 1804 TWEET 104 COMMENTEMAILMORE. DETROIT — The city of Detroit filed for Chapter 9 bankruptcy protection in federal court Thursday, laying the groundwork for a historic effort to bail out a city that is sinking under billions of
DETROIT – Detroit on Thursday became the largest city in U.S. description to file for bankruptcy, as the state-appointed emergency manager filed for Chapter 9 protection. Kevyn Orr, a bankruptcy expert, was hired by the state in March to lead Detroit out
DETROIT — Detroit, the cradle of America's automobile industry and once the nation's fourth-most-populous city, filed for bankruptcy on Thursday, the largest American city ever to take such a course.
“The fiscal realities confronting Detroit have been ignored for too long. I'm making this tough choice so the people of Detroit will have the basic services they deserve and so we can start to place Detroit on a solid financial footing that will allow
Detroit has filed the largest municipal bankruptcy in U.S. description after the city's emergency manager failed to reach agreements with creditors.
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