Tag Archives: detroit bankruptcy

The Decline of Detroit and Its Bankruptcy

Mayor Dave Bing announced the filing of Chapter 9 bankruptcy protection on July 18, 2013 for Detroit after decades of decline and economic stagnation. This bankruptcy will be the largest municipal bankruptcy in U.S. history will $18.5 billion in debt obligations being renegotiated. But the bankruptcy of Detroit didn’t just happen overnight, the city has… Read More »