![]() View our map and story about the state's efforts to turn around the distressed municipalities. In Michigan, seven cities and school districts have emergency managers, and another three are under consent agreements. States without laws authorizing municipal bankruptcies often allow for different measures providing financial relief. Home Money and tax Court claims, debt and bankruptcy Search the bankruptcy and insolvency register You can search for details of people who have gone bankrupt or signed an agreement to deal with. Note: Includes filings that were later dismissed. ![]() Please note that some listed municipal bankruptcy filings have been dismissed, as indicated. Multiple municipalities have filed for bankruptcy in some cities, such as Omaha, Neb., so not all markers are visible without zooming in on the map. Click a marker to view details of each filing. Utility authorities and other municipalities are displayed in gray. The map below shows all municipalities filing for Chapter 9 bankruptcy protection since 2010, along with local governments voting to approve a bankruptcy filing.Ĭities, towns and counties are shown in red. General-Purpose Local Government Bankruptcy Filings: 9 July 17 (Reuters) - The City of Compton, a city of 93,000 people located on the outskirts of Los Angeles, must decide by Sept. And Mammoth Lakes was brought low when the city lost a multi-million dollar court judgement, notes Businessweek.(Includes one municipality with two separate bankruptcy filings) The dire finances of charter cities just provides us with an early warning system. Every bankrupt and potentially bankrupt city in California is bankrupt in its own way. The city, which has become an iconic symbol of black inner-city life thanks to the. In Stockton, critics blame high spending on wages and capital projects for the city's distress. And start talking about bringing back your old police department, as Compton began to do in 2010, according to the L.A. Compton, California, a city just outside of Los Angeles, may be the third city in the state to file bankruptcy. In San Bernardino, city officials were stunned to learn they'd been operating in a deficit for years because they'd been given faulty documents showing they were profitable. They'll have to think about defaulting on bonds or even consider bankruptcy. As Orange County Supervisor John Moorlach told Bloomberg. Reuters says Compton's comptroller and treasurer informed the elected officials last night if current spending continues, the city will run out of money September 1. Steven Greenhut 12:00 PM First Vallejo, then Stockton, then Mammoth Lakes, and now San Bernardino and soon possibly Compton. Now city council members and the mayor are facing a tough choice. Pedro Boquete Security Officer at City of Compton, CA Pedro Boquete is a Security Officer at City of Compton, CA based in Compton, California. S-and-P warns Compton is flush with red ink: the city has a deficit greater than $40 million dollars. ![]() It's not clear if another auditor was hired. Compton's independent auditor quit and would not approve the city's financial statements. But that's going to be harder to get, according to the Los Angeles Times. Now the agency wants the city to complete an independently audited financial statement. S-and-P cited problems with alleged waste, fraud and misuse of city dollars, and blamed city officials for failing to turn over documents that might clear up questions. Last week, Standard and Poor's, Compton's credit rating agency, put the some of the city's bonds on credit watch. Just like Stockton, Mammoth Lakes and San Bernardino, Compton's bills are too big and its income too small. Financial troubles are surfacing in another California city: Compton, just south of Los Angeles, is in trouble.
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