In Detroit bankruptcy trial, union says city had pensions in sight

Last Updated: Thursday, October 24, 2013, 09:25

At issue is whether Detroit, which in July filed the largest municipal bankruptcy in U.S. history, negotiated in good faith before it sought protection from its creditors.

Lindsay Lohan`s ex Calum Best files for bankruptcy

Last Updated: Thursday, October 10, 2013, 12:17

Troubled star Lindsay Lohan`s former boyfriend Calum Best has filed for bankruptcy.

Duncan James files for bankruptcy

Last Updated: Tuesday, October 1, 2013, 13:14

Duncan James has suffered yet another financial blow after he was officially declared bankrupt on September 12.

US judge approves Kodak plan to exit bankruptcy

Last Updated: Wednesday, August 21, 2013, 08:34

The green light from US Bankruptcy Judge Allan Gropper in New York puts Kodak on track to exit bankruptcy in about two weeks.

NYC may go bankrupt just like Detroit, Mayor Bloomberg warns

Last Updated: Wednesday, August 7, 2013, 18:15

Bloomberg said that like Detroit, New York City was once one of the manufacturing centers in the United States, however, as large-scale manufacturing companies slowly moved out of large cities across the country, New York began to diversify its industries rather than depending on a single one.

Judge stops lawsuits against Detroit bankruptcy

Last Updated: Thursday, July 25, 2013, 08:53

A federal judge agreed with Detroit and stopped any lawsuits challenging the city`s bankruptcy.

Detroit bankruptcy raises red flags in other US cities

Last Updated: Tuesday, July 23, 2013, 17:38

Even as a federal judge set a hearing on a challenge to a bankruptcy filing by Detroit, America's famed automotive city, questions are being raised about the fate of several other debt-crushed major US cities.

Bankrupt Detroit's downtown renaissance creates trickle of hope

Last Updated: Tuesday, July 23, 2013, 09:34

Today the city bears an uncomfortable resemblance to a failed state: unable to light or police the streets, educate children, stop arson, or provide emergency care to the dying.

No federal bailout seen for Detroit

Last Updated: Monday, July 22, 2013, 08:39

The city filed for bankruptcy on Thursday, saddled with USD 18 billion in debt and a tax base depleted by decades of population loss and urban blight.

Detroit bankruptcy challenged in court

Last Updated: Saturday, July 20, 2013, 11:58

Detroit`s bankruptcy was challenged in court by government workers fighting to protect their retirement benefits as Michigan`s governor insisted it is the only way for Motown to survive.

Detroit bankruptcy challenged in court

Last Updated: Saturday, July 20, 2013, 09:45

Saddled with more than USD 18 billion in debt and a shrunken tax base, the birthplace of the US auto industry has been so strapped for cash it can't even keep the streetlights on.