Voice of America: Detroit Declares Bankruptcy, Seeks Path to Solvency

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

Detroit Declares Bankruptcy, Seeks Path to Solvency Jul 19th 2013, 21:41, by webdesk@voanews.com (Kane Farabaugh) 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. Detroit's financial fate now rests in the hands of a bankruptcy judge as a local judge tries to block the move. As talks broke down with some of Detroit's major creditors, Michigan Governor ... Media files: 574E8AEB-3F0F-474C-BB3C-2745391D6041_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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