Tag: Bankruptcy

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People

Judge in NY rejects DMX’s bankruptcy filing

In this Sept. 23, 2009 file photo, rapper DMX performs at the 2009 VH1 Hip Hop Honors at the Brooklyn Academy of Music, in New York. (AP Photo/Peter Kramer, File) WHITE PLAINS, N.Y. (AP) — A federal judge in New York has tossed rapper DMX’s bankruptcy filing, making him fair game for creditors.

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National

Detroit: From American dream to fight or flight

PublicSource asked Ben Schmitt, a born-and-bred Pittsburgher who spent 11 years in Detroit, to reflect on his former city’s bankruptcy. The American dream cliché came to mind when my wife and I settled in Detroit and purchased our first home. “Live here for five or six years, sell it at a profit, and move up in the world,” I thought in 2001. Five years later, I scoffed as my next-door neighbor packed up his belongings and solemnly warned me: “This neighborhood is gonna go.” Three years after that, the ex-neighbor’s home had changed hands several times and transformed into a drug house. I peered under a window blind at the traffic in and out of the driveway next door one night and thought: “I’m failing. I’m failing my children.” No more American dream; the cliché had evolved to fight or flight.

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National

Judge stops lawsuits against Detroit bankruptcy

Firefighters protest outside the Theodore Levin United States Courthouse, in Detroit, Wednesday, July 24, 2013. (AP Photo/Paul Sancya)DETROIT (AP) — A federal judge agreed with Detroit on Wednesday and stopped any lawsuits challenging the city’s bankruptcy, declaring his courtroom the exclusive venue for legal action in the largest filing by a local government in U.S. history.