By Gary Lloyd
Detroit has filed for bankruptcy, according to the Associated Press.
The city’s decision to seek reorganization protection will make it the largest municipal bankruptcy filing in United States history.
Jefferson County has held the title of largest municipal bankruptcy since November 2011.
Prior to Jefferson County, the largest municipal bankruptcy in U.S. history belonged to Orange County, Calif., which occurred in 1994 and involved $1.7 billion due to its creditors. Jefferson County’s filing in 2011 involved more than $4 billion in debt.
Jefferson County earlier this month filed a plan to trim its bankruptcy.
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