Unfortunately for Detroit, it’s not that simple.
State officials have given the Buena Vista and Inkster school districts until Monday to secure new loans to finance operations or face being dissolved.
Though Thursday’s bankruptcy filing had been feared for months, the path ahead for the once mighty Motor City is still uncertain.
“I think it’s despicable… and I think every Detroit resident will also find that this action is despicable,” said Richard Mack, Jr., an attorney for AFSCME Council 25.
Here’s a look at how the city spiraled into financial ruin and why it’s in so much trouble.
Detroit became the largest U.S. city to file for bankruptcy, raising a flurry of questions about what happens next.
Why is the city of Detroit, which is on the brink of bankruptcy, paying lawyers nearly $1,000 an hour?
Add Hamtramck to the list of Michigan cities that now have an Emergency Manager.
Teachers and other employees of the cash-strapped Pontiac school district have been notified that they may lose coverage this year because of nearly $12 million in unpaid premiums.
Major reforms are in the works for Detroit’s 36th District Court after a recent report found the system is $4.5 million over budget and has failed to collect over $280 million in fines.