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Thursday, August 29, 2013

List of Bankrupt Cities & Municipalities

List of Bankruptcy Filings Since January 2010

All Municipal Bankruptcy Filings: 37

General-Purpose Local Government Bankruptcy Filings (8):
-- City of Detroit
-- City of San Bernardino, Calif.
-- Town of Mammoth Lakes, Calf. (Dismissed)
-- City of Stockton, Calif.
-- Jefferson County, Ala.
-- City of Harrisburg, Pa. (Dismissed)
-- City of Central Falls, R.I.
-- Boise County, Idaho (Dismissed)

California Bankruptcy Filing Details:

Mendocino Coast Health Care District

  • Fort Bragg, CA
  • Status: Filed for bankruptcy
  • Date: 10/17/2012
  • The hospital district operates a small hospital and hospice program. In a resolution it filed, the district said it was significantly affected by its obligations to employees under the current collective bargaining agreement.
  • Status: Filed for bankruptcy
  • Date: 6/28/2012
  • Debt or Deficit Amount: $26 million
  • Stockton, Calif., filed for bankruptcy after being unable to reach an agreement with its creditors. The city must pay steep pension and payroll costs while taking in less money from property taxes.
Mammoth Lakes
  • Status: Filed for bankruptcy
  • Date: 7/3/2012
  • Debt or Deficit Amount: $43 million
  • Mammoth Lakes, a small California resort town, voted to file for bankruptcy July 3. The city has been unable to pay a $43 million legal judgment resulting from a 1997 property development dispute.
San Bernardino
  • Status: A federal judge granted the city eligibility for bankruptcy protection yesterday.
  • Date: 8/28/2013
  • Debt or Deficit Amount: $46 million
  • San Bernardino City Council voted to file for bankruptcy protection in 2012 after learning the city had only $150,000 left in its bank accounts.

For a full map and more information, see Bankrupt Cities, Municipalities List and Map

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