Detroit Declares Bankruptcy

by Sterling Beard

Detroit has filed for bankruptcy, making it the largest municipality in the history of the United States to do so, the Associated Press reports.

Kevyn Orr, the state-appointed emergency manager for the city, has asked a federal judge to place the city into Chapter 9 bankruptcy protection.

Orr was appointed by Michigan’s Republican governor, Rick Snyder, back in March, a move that placed the city under his management. Orr previously worked on Chrysler’s 2009 bankruptcy.

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