Out-Of-Court Municipal Restructuring Will Rise, Experts Say

Law360, New York (February 7, 2014, 5:04 PM EST) -- While Detroit’s bankruptcy has caught the attention of financially strapped municipalities nationwide, experts said Friday that it’s more likely that out-of-court restructurings are going to balloon, not Chapter 9 petitions, especially since there is so little case law on hot-button issues such as pension liabilities.

Bankruptcy and restructuring experts sitting on a panel to discuss Chapter 9 trends at the TMA Distressed Investing Conference in Las Vegas Friday said while a bankruptcy judge’s rulings in Detroit’s case have been generally friendly toward the city, it’s unlikely...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.