Complex sentence: The county lost at least $1.5 billion through high-risk investments in derivatives, and on December 6,1994, the County of Orange declared Chapter 9 bankruptcy, from which it emerged in June 1995.
Split into simpler sentences: The county lost at least $1.5 billion through high-risk investments in derivatives. On December 6,1994, the County of Orange declared Chapter 9 bankruptcy, from which it emerged in June 1995.