Detroit Files for Bankruptcy

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By Lorenzo Franceschi-Bicchierai2013-07-18 22:59:31 UTC

The city of Detroit, Mich., filed for bankruptcy, becoming the largest city in the history of the United States to do so.

City officials filed for Chapter 9 bankruptcy protection (.PDF) on Thursday, in an attempt to bail out a city that has an estimated debt of $18.5 billion, according to the Detroit Free Press . Detroit Emergency Manager Kevyn Orr applied for bankruptcy, after being appointed by Michigan's Governor Rick Snyder to tackle the city's financial issues in March.

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Snyder announced he has approved the request, and posted a YouTube video explaining his decision.

"This was a difficult, painful decision, but I believe there were no other viable options," Snyder said.

The Internet mostly reacted with indifference, and a few displays of support.

A few politicians weighed in, with some Republicans criticizing the news.

And shortly after the news broke, a hashtag mocking Detroit — #NewDetroitCityMottos — started trending on Twitter.

Additional research by Dhiya Kuriakose

Image: Spencer Platt/Getty Images

Topics: bankruptcy, Detroit, U.S., US & World