News Topic: municipal bankruptcy

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Long overdue, in my opinion, HR 5305 has been introducted by Resident Commissioner Pedro Pierluisi.  The one-sentence law would allow the territory of Puerto Rico to join the definition of "State" and hence provide access to chapter 9 for its ... Read full article

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Yesterday's Is. It. Legal. provoked some comments and questions. Some quick replies above the line, so to speak. Q: Is it clear that this is going to be a cramdown plan? ... Read full article

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Much excitement in our nerdly circles is arising about Detroit's plan of adjustment , just filed yesterday.  This has gotten me thinking about what's next (other than the obvious ongoing cajolling/negotiations).  Three ruminations thereon: ... Read full article

So in declining to approve Detroit's proposed payoff of its interest rate swaps – all out of the money, naturally – Judge Rhodes has reminded us that the case is not pending in Wilmington or Manhattan. ... Read full article

Two big rulings in Detroit's Chapter 9 bankruptcy today:  first that Detroit is eligible for Chapter 9 and second that it may impair its pension obligations in bankruptcy.  Both rulings were delivered orally from the bench and transcripts aren't ... Read full article

By Barbara Altimus Shreero Judge Christopher M. Klein’s decision  to accept the City of Stockton’s petition for bankruptcy on April 1, 2013 set the stage for a battle over whether public workers’ pensions can be reduced through municipal reorganization. ... Read full article

A city in bank ... Read full article

Short bu ... Read full article