municipal bankruptcy

In the years leading up to bankruptcy, the city made mistakes that are all too common for anyone struggling with debt.
NEW YORK, Dec 9 (Reuters) - A federal appeals court said the U.S. government had waited too long to prosecute three former
The president of the union representing thousands of retired Detroit employees called Tuesday's bankruptcy decision "inhumane
The brightest post-bankruptcy story is perhaps California's Orange County. But its 1994 bankruptcy - the largest in history
"These laws are in place because Michigan recognizes that many other localities are experiencing financial struggles and
The city's two underfunded pension funds sued Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder to block
Local leaders and citizens need to be aware of the municipal bankruptcy process and what it means to their community. Unless government officials learn to exercise budget control, more and more municipalities may face the prospect of bankruptcy.
Detroit’s 2011 general fund revenue was $1.23 billion while its outstanding debt was more than $2.5 billion. For some speculative
Moreau did not answer his phone, and his lawyer did not reply to a request for comment. An attorney for Bouthillette did
Sept 13 (Reuters) - U.S. cities face falling revenues for a sixth-straight year but their finances have passed the worst
Central Falls, R.I., Sept 3 (Reuters) - Central Falls, in Rhode Island, is close to emerging from bankruptcy with a plan
Thing Four: CEO Could Go To Prison Forever: Russell Wasendorf, the CEO that stole more than $100 million from his customers
The project created about 12 temporary jobs, Carter said, and will require more work for upkeep. Central Falls, which had
The city of about 210,000 residents 65 miles (104 km) east of Los Angeles declared a fiscal crisis last month after a report
The city of Scranton, Pennsylvania, is set to resume paying its workers their normal salaries, Mayor Chris Doherty said Monday
Stockton is seeking Chapter 9 protection from its creditors and said that it would cut retiree health benefits while it reorganizes
Check Out These 10 U.S. Cities With Economies That Surpass Entire Nations: And a big economy doesn't necessarily translate
If the city council had put the disincorporation issue on the ballot, and voters approved it, Gold Bar would have been the
The city imposed a temporary 10 percent pay cut several years ago, but the firefighters union successfully challenged the