bankruptcy filing
Detroit workers, retirees still suffering 10 years after city's bankruptcy
Fox News Flash top headlines are here. Check out what's clicking on Foxnews.com. Mike Berent has spent more than 27 years rushing into burning houses in Detroit, pulling people to safety and ensuring his fellow firefighters get out alive. But as the 52-year-old Detroit Fire Department lieutenant approaches mandatory retirement at age 60, he says one thing is clear: He will need to keep working to make ends meet. "I'm trying to put as much money away as a I can," said Berent, who also works in sales.
- Law Enforcement & Public Safety > Fire & Emergency Services (0.56)
- Health & Medicine > Government Relations & Public Policy (0.49)
- Media > News (0.36)
Lily Robotics Promises Refunds As It Files For Bankruptcy Protection
Lily Robotics, which promised an autonomous flying camera, is shutting down operations. Lily Robotics, the hyped drone startup that shutdown last month amid a consumer-protection civil suit from the San Francisco District Attorney's office, filed for Chapter 11 bankruptcy protection on Monday. In documents submitted to a U.S. district court in Delaware, Lily Robotics outlined its intentions to auction off intellectual property and refund customers, which it said was its first priority. "[Lily] wants to ensure no customers are harmed in this process," wrote Curtis Solsvig, a managing director at Goldin Associates who is named as the company's chief restructuring officer. Lily amassed more than $38 million in pre-orders from 61,450 customers in more than 80 countries, according to the filing.
- North America > United States > California > San Francisco County > San Francisco (0.27)
- North America > United States > Delaware (0.25)
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- Law > Criminal Law (0.76)
- Law > Business Law > Bankruptcy Law (0.61)