Menu

Practice Contact

Municipal Bankruptcies - Chapter 9

The purpose of chapter 9 of the Bankruptcy Code is to provide a financially distressed municipality with protection from its creditors while it develops and negotiates a plan for adjusting its debts.  Reorganization of the debts of a municipality is typically accomplished by extending debt maturities, reducing the amount of principal or interest, refinancing the debt by obtaining a new loan or implementing an extended repayment plan.  Chapter 9 is different from other types of bankruptcies because there is no ability to liquidate the assets of the municipality and distribute the proceeds to creditors (as in a corporate bankruptcy).  The firm's substantial chapter 9 experience provides depth and resources in municipal bankruptcies that few firms can match.

Publications

Events

Our website uses cookies to enhance site navigation, analyze site usage, and assist in our marketing efforts. By continuing to browse this website, you agree to our Privacy Policy.