Posts Tagged: Creditors

The History of Bankruptcy

Posted by & filed under General Bankruptcy.

Bankruptcy has a long history that goes back to Biblical times. In ancient Rome, lenders did business on a bench, or bancus, from which we get the English word “bank.” When a money-handler went out of business, their bench was symbolically broken (ruptus), as a sign of their failure. Together, the words bancus and ruptus […]

Detroit Sued by Insurance Investors

Posted by & filed under General Bankruptcy.

Detroit may be an example of the premise that if anything can go wrong, it will. The city became the largest municipal region to ever file for bankruptcy. Now, a large bond insurer is filing suit against the Motor City. This will set back the bankruptcy plan scheduled for Detroit. It could even completely unravel […]

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