Detroit files for bankruptcy protection

Discussion in 'The Bar' started by gilaet, Jul 18, 2013.

  1. gilaet

    gilaet Big Time Operator Staff Member

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    DETROIT -- The city of Detroit filed for Chapter 9 bankruptcy protection in federal court
    Thursday, laying the groundwork for a historic effort to bail out a city that is sinking under
    billions of dollars in debt and decades of mismanagement, population flight and loss of tax revenue.

    The bankruptcy filing makes Detroit the largest city in U.S. history to do so.

    The filing begins a 30- to 90-day period that will determine whether the city is eligible for
    Chapter 9 protection and define how many claimants might compete for the limited settlement
    resources that Detroit has to offer. The bankruptcy petition would seek protection from creditors
    and unions who are renegotiating $18.5 billion in debt and other liabilities.


    http://www.usatoday.com/story/news/nation/2013/07/18/detroit-prepares-bankruptcy-filing-friday/2552819/
     
  2. MatthewT

    MatthewT Awaiting The Rapture VIP

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    read more, post less :pie:
     
  3. gilaet

    gilaet Big Time Operator Staff Member

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    Click the link to read more.
     
  4. Real

    Real Well-Known Member VIP

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    When will AG address this?
     
  5. Stevie

    Stevie Well-Known Member VIP

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    Wow.
     
  6. zhukov

    zhukov Time Traveler VIP

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    gilaet is the new Dawg
     
  7. gilaet

    gilaet Big Time Operator Staff Member

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  8. DarkFriday

    DarkFriday GORGO! Gold

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  9. tomtom

    tomtom Well-Known Member

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    Bro, "corporate greed, republicans blah blah"
     
  10. DarkFriday

    DarkFriday GORGO! Gold

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  11. DarkFriday

    DarkFriday GORGO! Gold

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  12. Partyxanimal

    Partyxanimal Well-Known Member

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  13. RobinsBedSores

    RobinsBedSores Active Member

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    Detroit is a fun city.
     
  14. DarkFriday

    DarkFriday GORGO! Gold

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    [​IMG]

    [​IMG]
     
    Last edited: Jul 18, 2013
  15. sstressed

    sstressed VIP Extreme Gold

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    as someone born in windsor, all i can say is thank god for the deeetroit river! :dance: