Top 5 Biggest Municipal Bankruptcies in U.S. History
by Steven Davies on Jul 22, 2013 | Views: 254 | Score: 2
| Municipal Bankruptcies | |
|---|---|
| Detroit, Michigan (2013) | 18 |
| Jefferson County, Alabama (2011) | 4 |
| Orange County, California (1994) | 2 |
| Stockton, California (2012) | 1 |
| San Bernardino County, California (2012) | 0.5 |
Bankruptcy amount ($billions)
Sources:
forbes.com
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On July 18, 2013, the City of Detroit filed for Chapter 9 bankruptcy for the amount of $18 billion, the biggest municipal bankruptcy in U.S. history. Of the top 5 municipal bankruptcies, four have been filed within the last three years.