Home » Posts tagged with "Chapter 9 Protection"
Detroit files for federal bankruptcy, marking largest case in US history
The city of Detroit has filed for federal bankruptcy, or Chapter 9 protection, which could mean municipal employees are laid off, assets sold and services like trash collection, which have already been cut to the bone, further scaled back.
Detroit has become the largest city in American history to file for bankruptcy. Kevin Orr, a bankruptcy expert hired by the state of Michigan in March to try and...