Cities In Distress: Municipal Recovery Lessons From Pa.

Law360 (July 17, 2018, 1:18 PM EDT) -- Five years after the city of Detroit filed for Chapter 9 bankruptcy on July 18, 2013, experts look at the financial troubles of a few other U.S. cities in this special series.

Juliet Moringiello To say that there ever was a “wave” of municipal bankruptcies is necessarily an overstatement given the miniscule number of them since municipal bankruptcy became part of federal law in the 1930s. Yet the mini-wave of municipal bankruptcy filings culminating in Detroit’s 2013 filing led academics to question the efficacy of Chapter 9 of the Bankruptcy Code[1] and led observers to ask which city, county or town would be next.[2]...

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