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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]
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
The department, as the Department of Commerce, was formed in 1965 by Section 225 of the Executive Organization Act of 1965, 1965 PA 380, MCL 16.325.The Michigan Department of Licensing and Regulation was abolished with most responsibilities transferred to the newly formed Department. [1]
A small university in Michigan has agreed to change its name from Rochester University to Rochester Christian University, bowing to a trademark infringement lawsuit by the University of Rochester.
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 is based in Detroit, with courthouses also located in Ann Arbor, Bay City, Flint, and Port Huron.
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Miami-based Cano Health, which runs 80 medical centers in Florida, says it’s now in a good place after cutbacks and bankruptcy — and is rolling out a series of improvements.
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
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