USA

    Detroit Becomes Largest US City to Declare Bankruptcyi
    X
    July 19, 2013 9:21 PM
    After years of population decline, a faltering auto industry and financial mismanagement by the city's government, Detroit has filed for Chapter 9 bankruptcy protection in federal court. It's the largest municipal bankruptcy in U.S. history, with the city listing more than 100,000 creditors. As VOA's Kane Farabaugh reports that Detroit's financial fate now rests in the hands of a bankruptcy judge as a local judge tries to block the move.

    Detroit Becomes Largest US City to Declare Bankruptcy

    Published July 19, 2013

    After years of population decline, a faltering auto industry and financial mismanagement by the city's government, Detroit has filed for Chapter 9 bankruptcy protection in federal court. It's the largest municipal bankruptcy in U.S. history, with the city listing more than 100,000 creditors. As VOA's Kane Farabaugh reports that Detroit's financial fate now rests in the hands of a bankruptcy judge as a local judge tries to block the move.


    You May Like

    Syrian Rebel Realignment Likely as al-Qaida Leader Blesses Split

    Jihadist group Jabhat al-Nusra splits from al-Qaida in what observers dub a ‘deception and denial’ exercise

    New India Child Labor Law Could Make Children More Vulnerable

    Concerns that allowing children to work in family enterprises will push more to work

    What Take-out Food Reveals About American History

    Carry-out food explains a lot about the changes taking place in society, so here's the deal with pizza, Chinese food and what racism has to do with taking food to go