Detroit Lawyers’ Record Ranges From Chrysler to Dodgers
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Detroit’s bankruptcy started with a mad dash to a federal courthouse, much as Orange County, California’s did in 1994, when it undertook a billion-dollar restructuring.
A difference between the two cases is their size. Orange County went into court with $1.7 billion in losses from a $7.5 billion investment pool it controlled, while Detroit’s July 18 filing listed $18 billion in debt, a record for a U.S. municipal bankruptcy.