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Dura is headquartered in Auburn Hills, Michigan, USA with more than 21,000 employees at 41 sites in 15 countries. [citation needed] Dura was ranked in the 2006 Fortune 1000. Later that year, on October 30, 2006, Dura filed for Chapter 11 bankruptcy protection. [1]
In addition, the investment bank Lehman Brothers filed for Chapter 11 bankruptcy protection in September 2008, citing bank debt of $613 billion and $155 billion in bond debt. The solvency of other U.S. banks was severely threatened, forcing the George W. Bush government to intervene with the $700 billion bailout plan of the Troubled Asset ...
But the acquisition could not help the struggling company succeed in a poor economy and faced with increased competition from large department stores. [6] On November 2, 2011, SYMS and Filene's Basement collectively filed for Chapter 11 bankruptcy protection, with all stores to close by the end of the year. The combined companies had 46 ...
In 1986 a state court appointed a receiver, Louis Schimmel, for the city of Ecorse which had a $6 million deficit. The court appointed receivership lasted until 1990. [1]The financial emergency status, along with the Emergency Financial Manager (EFM) position, was first created in Public Act 101 of 1988 for the specific emergency in Hamtramck.
On July 18, 2013, Detroit, Michigan became the largest city in the history of the United States to file for Chapter 9 bankruptcy protection. Jefferson County, Alabama, in 2011, and Orange County, California, in 1994, are also notable examples.
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