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Chapter 9, Title 11, United States Code is a chapter of the United States Bankruptcy Code, available exclusively to municipalities and assisting them in the restructuring of their debt. On July 18, 2013, Detroit, Michigan became the largest city in the history of the United States to file for Chapter 9 bankruptcy protection.
List of Chapter 9 bankruptcies of the United States; 0–9. 1947 Cisco Texas School District bankruptcy; 1983 San Jose School District California bankruptcy;
A Chapter 9 bankruptcy is available only to municipalities. Chapter 9 is a form of reorganization, not liquidation. Notable examples of municipal bankruptcies include that of Orange County, California (1994 to 1996) and the bankruptcy of the city of Detroit, Michigan in 2013.
The U.S. Bankruptcy Code lists six types of bankruptcies, according to USCourts.gov: Chapters 7, 9, 11, 12, 13 and 15. At least four of those will not have much relevance to the average person:
The bankruptcy followed a judgement awarding Main Line Pictures $8,100,000 against her for walking away from the movie Boxing Helena. [151] The case was eventually settled for $3,800,000. [148] [151] The bankruptcy was later converted to Chapter 7. [152] [150] [149] Her assets included a large portion of the town Braselton, Georgia. [152] Fife ...
Terms of an employee contract negotiated over years can be eliminated in months through Chapter 11. Terms of the Railway Labor Act, amended in 1936 to cover airlines, prevent most labor union work actions before, during and after an airline bankruptcy. Continental Airlines declared bankruptcy, Chapter 11, a second time in December 1990.
Perhaps best known for its late-night informercials, the at-home gym equipment maker filed for bankruptcy in March. It emerged from Chapter 11 a few months later, signing a deal with a Taiwan ...
The restaurant company previously filed for Chapter 11 bankruptcy in 2020. Melt Bar & Grilled In June, the Cleveland-based chain said it was struggling to pay its vendors and landlords.