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In Detroit, many business owners hope that filing for bankruptcy will help the city start fresh and ultimately become a thriving urban center mirroring other cities that recovered from near financial ruin.

A circuit judge had ruled Friday that the Motor City's bankruptcy filing violates the state's constitution and must be withdrawn.

The lights will remain on and city services should continue, says Michigan Gov. Rick Snyder. But the filing sets in motion what could be a years-long process to resolve the bankruptcy case.

Harrisburg is auctioning off thousands of items that were supposed to be included in a failed museum — including artifacts said to have ties to Wyatt Earp, Jesse James and Buffalo Bill. City leaders hope the auction will put a dent in Harrisburg's $370 million in debt.

The city is seeking Chapter 9 protection against creditors and unions for an estimated $18.5 billion in debt and liabilities.

Creditors are going to lose up to 70 cents of every dollar they're owed by Jefferson County, Ala. The county earned the title of largest municipal bankruptcy in U.S. history after a sewer financing deal went awry.

The judge says the severance would violate a federal code aimed at reining in large payouts to departing CEOs of bankrupt companies.

U.S. Bankruptcy Judge Klein said the city negotiated in good faith with its creditors, and that the creditors did not.

Colorado’s ongoing drought is just one of the reasons that the country’s largest Community Supported Agriculture farm (CSA) near Fort Collins filed for…

According to a bankruptcy judge, Hostess and the major union representing its workers need to try to mediate their differences before the company can be liquidated. So maybe the company's taste treats won't disappear anytime soon.