Phrases with «municipal bankruptcy»

"Municipal bankruptcy" refers to a situation where a city or municipality is unable to pay back its debts and is granted legal protection to reorganize its finances. It means that the city has reached a point where it cannot meet its financial obligations and needs to seek help to manage its debts and possibly reduce them. Full definition

municipal bankruptcy

Sentences with «municipal bankruptcy»

Much has changed in that time, as the city emerged from municipal bankruptcy and began adding jobs again. (rebusinessonline.com)
Kevyn Orr, charged with guiding the collapsed Motor City out of the largest municipal bankruptcy in U.S. history, said any outside assistance would be «great» but he is not banking on it. (cnbc.com)
He engineered a state takeover of the perpetually troubled city of Detroit, installing a hand - picked emergency manager who quickly filed the largest municipal bankruptcy in U.S. history. (cnbc.com)
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Phrases with «municipal bankruptcy»

Sentences with «municipal bankruptcy»

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