Monday, July 15, 2013

City of Detroit Likely to File for Bankruptcy in August

I launched a contest last week, in which I asked readers to guess the exact date when Kevyn Orr finally files for bankruptcy on behalf of the City of Detroit. Since then, I've received dozens of predictions. Many of these predictions came in through the Facebook page for this blog, but I also received several more by email or elsewhere.

The consensus among entrants thus far is that the City of Detroit will file for chapter 9 bankruptcy protection in August or early-September of this year. Almost all of the entrants have been in that date range, with only one person so far predicting that they will make it into the new year without filing.

If you would like to win a free lunch courtesy of this blog, please enter your guess as to when the City of Detroit will file for bankruptcy. The full details are here.
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