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...
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