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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]
The City of Detroit has long been bankrupt -- but now it's official. On Thursday, the City of Detroit petitioned the U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division ...
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 ...
Over $4 billion in debt (largest Chapter 9 bankruptcy until 2013 Detroit bankruptcy filing,) [36] from sewer revenue bonds tainted by an interest rate swap bribery scandal with JPMorgan and county commissioner Larry Langford, and bond insurance credit rating collapse in the late-2000s subprime mortgage crisis, followed by the occupation tax ...
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.
Theodore Levin United States Courthouse in Detroit, taken January 2010. Federal Building and U.S. Courthouse in Port Huron, taken August 2003.. The United States District Court for the Eastern District of Michigan (in case citations, E.D. Mich.) is the federal district court with jurisdiction over the eastern half of the Lower Peninsula of the State of Michigan.
"The court finds that Detroit was and is insolvent." That was the determination of Judge Steven Rhodes earlier this week. The city can now proceed with its Chapter 9 bankruptcy. Detroit's ...
In 2004, she was elected a judge of the 55th Michigan District Court, and in November 2008, she was elected as judge of the 30th Circuit Court for Ingham County. [4] [1] In July 2013, Aquilina ruled that the city of Detroit's bankruptcy filing violated the state constitution, and sent an advisory memorandum to president Barack Obama.