Detroit filed for Chapter 9 bankruptcy protection on July 18. However, filing isn’t the end of the line, the filing has to then be approved by a judge. Today a judge ruled that Detroit is eligible for bankruptcy protection, and it can enter Chapter 9. This will be a very interesting to story to watch, as Detroit is the largest municipality ever to enter bankruptcy protection.
Read more here: http://www.usatoday.com/story/news/nation/2013/12/03/detroit-bankruptcy-eligibility/3849833/