Bankruptcy

With debts in excess of $30 million owed to the city of Montreal, and unhappy customers in New York City and Chicago refusing to pay for outstanding bills, the Bixi bike-share company has been forced to file for bankruptcy protection.
Jan 21, 2014   The Montreal Gazette
U.S. Bankruptcy Judge Steven Rhodes ruled today that the city of Detroit is eligible for bankruptcy protection, allowing the city to proceed with the largest municipal bankruptcy in U.S. history. Public employee unions are expected to appeal.
Dec 3, 2013   Detroit Free Press
If you thought the bankruptcy in Detroit was caused by the disappearance of manufacturing jobs, well, you'd be wrong. Alan Mallach explains how our obsession with college degrees contributed to the downfall of a city.
Oct 1, 2013   Rooflines
The story of how Detroit became the largest US city to ever file for bankruptcy is a long and tangled one featuring many villains and several "if only" moments. The Detroit Free Press reviews 50+ years of financial history to set the record straight.
Sep 16, 2013   Detroit Free Press
The Motor City is the not the only victim of the largest municipal bankruptcy in U.S. history. Local governments across Michigan are now encountering substantial obstacles to borrowing amid concerns about the security of municipal bonds.
Aug 12, 2013   The New York Times
In an interview with The Wall Street Journal, emergency manager Kevyn Orr explains how his own experiences living in once-derelict, now-thriving cities leave him optimistic about Detroit's revival.
Aug 5, 2013   The Wall Street Journal
The addition of 50 new police cars, ramped up bus service, and long overdue streetlight repairs are all being planned as bankruptcy proceedings allow Detroit to increase funding for public services.
Jul 29, 2013   Detroit Free Press
The federal government has a role to play in the financial crises afflicting cities across America, and most notably of late, in Detroit. Should Washington also play a role in helping them to recover?
Jul 23, 2013   The Nation
With its recent bankruptcy filing, Detroit has a plethora of challenges ahead of it. But the city is well positioned for growth, argue Bruce Katz and Jennifer Bradley, which will be as important for the city's renewal as fixing its fiscal problems.
Jul 22, 2013   Brookings
Police response times average 58 minutes for worst crimes and at times only 10 of the city's 36 ambulances are in service: Detroit's woes extend far beyond its unpaid debts. Many residents are hoping emergency management will bring drastic change.
Jul 11, 2013   The New York Times
In a presentation to creditors delivered yesterday, Detroit emergency manager Kevyn Orr outlined a last-ditch effort to save the city from bankruptcy. Many creditors would have to agree to receive less than 10 cents on the dollar.
Jun 15, 2013   Detroit Free Press