Detroit's filing for bankruptcy may be traced to mismanagement and low tax revenue, according to analysts.
Tags: Bankruptcy
Powerball winners high chance of becoming losers
The latest winner of the Powerball jackpot face great financial issues in the future. One of the largest prizes for a Powerball lottery was won by a group of New Jersey employees.
Lessons to take from Detroit’s bankruptcy fiasco
Detroit's bankruptcy, the largest in US history, poses a couple of lessons which others should take keep mind.
History offers no support for Detroit; scarce with happy endings for municipal bankruptcy filings
Local governments that filed for Chapter 9 did not exactly have happy endings. Detroit officials may be hopeful that their Chapter 9 bankruptcy filing will ultimately strengthen their economy, but history has shown otherwise.
Detroit bankruptcy appeal declined by state judge
A state judge asked for the withdrawal of Detroit's Chapter 9 bankruptcy protection appeal. The city of Detroit's request for Chapter 9 bankruptcy protection was asked by a judge in Michigan to be withdrawn.
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Detroit City's officials announced today that the city filed for bankruptcy. The city of Detroit filed for bankruptcy today, making history as the largest city in the United States to ever perform such course.
Eastman Kodak Co. said on Tuesday that it will seek court approval to sell its rights priced at US$406 million.
Lio Energy Systems Holdings and Miles Electric Vehicle filed for Bankruptcy last May 1. Sales have been slow for the electric automobile company. The same mishap has been experienced even by industry leaders GM, Ford, Nissan, and Honda Motor Co, when despite their heavy investments still experienced slow sales from electric vehicles.
Lehman may sell off US$14 billion in unsecured claims to raise funds to pay off debts and other claims.
Coda Holdings sought bankruptcy protection in Wilmington, DE, with the Coda Electric Car manufacturing unit as among the assets to be sold off.
Iconic Hostess Brands to return to the market after bankruptcy issues were resolved. Hostess Brands LLC disclosed plans to reopen its bakery in Kansas by summer.
Because of a claim from a Singaporean creditor, share trading of Surabaya Agung was suspended in the Indonesian bourse.
The Bronx Parking Development Corp skipped payment of interest to its bondholders and is now contemplating bankruptcy protection.
Investors in Spain have been focusing on bond sale, saying that they are not worried over the turmoil in Cyprus.
