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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.
News
- January 2014
- August 2012
- Special "Municipal Law" supplement to Daily Journal (page 14), December 7, 2011
Publications
- Business Law Today (August 2021)
- 26 Journal of Corporate Renewal 24 (May 2013)
- ABA Business Bankruptcy Committee e-Newsletter (January 2012)
- Chapter 9 Bankruptcy StrategiesThomson Reuters (2011)
- Parts I & IIBusiness Law Today (May and June 2011)
- The Aftermath of Bankruptcy: Legislative Reform—State and Federal (1996)
- Parts I & IIAGLF Tax-Exempt Leasing Letter (1995 & 1996)
Representative Cases
Events
- 25th Annual Distressed Investing ConferenceNew York, November 26, 2018
- Law & Economics Center | George Mason University School of LawSan Francisco, September 16, 2014
- Turnaround Management AssociationWebinar, May 23, 2013
- 86th Annual National Conference of Bankruptcy JudgesSan Diego, October 26, 2012
- 19th Annual Bankruptcy Battleground WestLos Angeles, March 4, 2011