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Detroit goes bankrupt declares Chapter 9
Published : 22-07-2013 - Duration : 02:22 - View : 1
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Detroit made history on Thursday by becoming the biggest municipality in U.S. history to file for bankruptcy protection under Chapter 9 of the U.S. Bankruptcy Code. The Motor City used to be the country's fourth-largest city in the country during the 1950s with almost 2 million residents, but the numbers have tumbled down to around 700,000 as resi...
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