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DETROIT, MI - JANUARY 14: A Chevrolet Corvette Z06 is shown at the press preview of the 2014 North American International Auto Show January 14, 2014 in Detroit, Michigan. Approximately 5000 journalists from more than 60 countries are expected to attend. The 2014 NAIAS opens to the public on January 18th and ends January 16th. (Photo by Bill Pugliano/Getty Images)
DETROIT, MI - JANUARY 14: A Chevrolet Corvette Z06 is shown at the press preview of the 2014 North American International Auto Show January 14, 2014 in Detroit, Michigan. Approximately 5000 journalists from more than 60 countries are expected to attend. The 2014 NAIAS opens to the public on January 18th and ends January 16th. (Photo by Bill Pugliano/Getty Images)
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Unintended Consequences of The GM Bailout

The largest industrial bankruptcy in history took place on June 1, 2009. GM came to court with $82 billion in assets and $173 billion in liabilities.

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DETROIT, MI - DECEMBER 3:  People protest outside the U.S. Courthouse where federal bankruptcy Judge Steven Rhodes is to rule on Detroit's Chapter 9 bankruptcy eligibility December 3, 2013 in Detroit, Michigan. Judge Rhodes ruled that the city is eligible for bankruptcy protection and that pensions can be cut. Detroit is the largest city in U.S. history to file for bankruptcy.  (Photo by Bill Pugliano/Getty Images)
DETROIT, MI - DECEMBER 3: People protest outside the U.S. Courthouse where federal bankruptcy Judge Steven Rhodes is to rule on Detroit's Chapter 9 bankruptcy eligibility December 3, 2013 in Detroit, Michigan. Judge Rhodes ruled that the city is eligible for bankruptcy protection and that pensions can be cut. Detroit is the largest city in U.S. history to file for bankruptcy. (Photo by Bill Pugliano/Getty Images)
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Why Are Cities Going Bankrupt?

The big difference is that it would take longer for Detroit to go bankrupt than Bozeman, Belgrade or Livingston.

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Gavel
Photo courtesy of Thinkstock.com
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Detroit Emergency Manager Says Bankruptcy Filing Unavoidable

DETROIT (AP) — Detroit's state-appointed emergency manager says that a month before the city filed for bankruptcy he thought it could be avoided but only with concessions from creditors that never came.

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(Photo by Taber Andrew Bain - Flickr)
(Photo by Taber Andrew Bain - Flickr)
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Bankruptcy: The Show I Hate To Do

Do not think that putting property in someone else's name will protect it from being taken in a bankruptcy. The court can go back four years and disallow any property swap or re-titling of the property.

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DELRAY BEACH, FL - OCTOBER 05: A Friendly's Ice Cream Corp restaurant is seen on the day the company filed for bankruptcy on October 5, 2011 in Delray Beach, Florida. The company employs roughly 10,000 people in more than 500 restaurants and is known for it ice cream treats and hamburgers, (Photo by Joe Raedle/Getty Images)
DELRAY BEACH, FL - OCTOBER 05: A Friendly's Ice Cream Corp restaurant is seen on the day the company filed for bankruptcy on October 5, 2011 in Delray Beach, Florida. The company employs roughly 10,000 people in more than 500 restaurants and is known for it ice cream treats and hamburgers, (Photo by Joe Raedle/Getty Images)
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Bankruptcy! On the Next “Open for Business” Show with Tom Egelhoff

Bankruptcy attorney Stuart Whitehair and credit counselor Beverly Johnson will join Tom this coming Saturday, August 11 - Noon to 2 PM Mountain Time — to talk about bankruptcy laws.

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Kevork Djansezian, Getty Images
Kevork Djansezian, Getty Images
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Kodak Files for Chapter 11 Bankruptcy Protection — Dollars and Sense

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.

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Category: Money Tags: ,
KOMO.com
KOMO.com
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Restaurant Chain Goes Bankrupt, Expels Diners Mid-Meal [VIDEO]

When Marie Callender's declared bankruptcy this week, they weren't kidding around.

The chain shut the doors on 64 of its 600 restaurants around the country, and shut them with such haste that anybody who happened to be enjoying one of its signature homestyle meals in one of the doomed locations was told to put down their fork and exit the premises.

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