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