The City of Detroit has just filed for Chapter 9 bankruptcy protection, the largest municipal insolvency in U.S. history, according to news reports.
Though the move wasn't expected to happen until Friday, news sources in the Motor City confirm it happened moments ago this afternoon.
Today, the city's state-appointed emergency manager asked a federal judge for permission to place the city into Chapter 9 bankruptcy, the AP reports.
More on this as we get it.
Update 4:22 p.m.: Here's a copy of the Chapter 9 bankruptcy filing care of TV station WXYZ.
Detroit Chapter 9 Bankruptcy Filing - WXYZ by webteam2410
Photo credit AP
Detroit Just Filed For Largest Municipal Bankruptcy In U.S. History