bankruptcy

On Monday, Michigan Attorney General  Bill Schuette filed a formal appearance with U.S. Bankruptcy Court of behalf of Southeast Michigan pensioners who may be at risk of losing their benefits. In a statement, Schuette said "hardworking people, like cops and firefighters who put their own lives on the line, struggle on a fixed income, and now could face a financial crisis through no fault of t

Here is Detroit Emergency Manager Kevin Orr's recommendation and request to file Chapter 9 bankruptcy for the City of Detroit: Detroit EM Kevyn Orr Chapter 9 Reccomendation Along with Governor Snyder's response and authorization to file bankruptcy: Governor Snyder Chapter 9 Authorization

Michigan Governor Rick Snyder announces that he has authorized Detroit's emergency manager to see federal bankruptcy protection for the City of Detroit.

California has certainly had its share of financial woes, and now the city of Stockton, about 80 miles east of San Francisco, is set to become the largest American municipality to declare bankruptcy.

Some major companies and corporations such as MF Global and AMR, the parent company of American Airlines, have filed for bankruptcy. In the process, they may have, directly or not, caused some people to go bankrupt.

If you want to capture a Kodak moment, you may need to be in bankruptcy court to do it these days — the iconic photography company filed for Chapter 11 protection on Wednesday.

Citing the economic downtown and rising food costs, the parent of the Friendly’s restaurant chain filed for Chapter 11 bankruptcy protection on Wednesday and closed 63 underperforming stores. The 76-year-old franchise, based in Wilbraham, Massachusetts and known for its ice cream and hamburgers, will continue to operate more than 400 restaurants as it restructures.

General Motors seems to be earning profits despite trying to emerge from bankruptcy, say CNN Money.