Historically, the use of Chapter 9 bankruptcy by a municipality is still rare, and a last resort. MuniNet […]
Premium Research and Analysis on Chapter 9 Bankruptcy. Read Expert Reports on the History, Details, and Alternatives to Municipal Bankruptcy.
Municipal Chapter 9 bankruptcy is the legal means by which local governments, be they cities or counties, utilities or school districts, can fiscally reorganize by gaining protection from creditors while developing a plan for adjusting and repaying its debts. MuniNet Guide’s experts provide statistics and insights you can not find elsewhere.
This report by Chapter 9 bankruptcy and fiscal distress expert James Spiotto addresses the historical use of Chapter 9 by year, by state, by type of government entity, and more. Despite growing concerns about pension and OPEB debt, as well as the general fiscal health of the United States’ local governments and a handful of high-profile municipal bankruptcy proceedings over the past decade, filings of Chapter 9 proceedings remain rare, and are seen as a last resort.
Why Financially Distressed School Districts Have Wisely Chosen Not to File Chapter 9 Bankruptcy by James E. […]
by James Spiotto Chapter 9 is generally viewed as the remedy of last resort for troubled municipalities. If permitted […]
by James Spiotto As discussed below, over half of states have implemented municipal debt supervision or restructuring mechanisms […]
by James Spiotto The state legislatures, in considering how best to assist local governments facing financial challenges or […]
By James Spiotto A. Types of municipality debt obligations in Chapter 9: There are various types of voluntary municipal […]
By James Spiotto IN A CHAPTER 9 IN A CHAPTER 11 • Only the municipality can initiate a Chapter 9 if […]
How Safe Are General Obligation Bonds in Chapter 9?
A look a the risks to General Obligation bonds during Chapter 9 proceedings, and the causes of Chapter 9 bankruptcies to be avoided when investing in GO debt.
When Is a “General” Obligation Not a “General Obligation Bond”?
A presentation investigating the the question of political risk in times of austerity. Also, how states and investors can deal with the willingness to pay vs. inability to pay problem.
Lessons Learned from Recent Chapter 9 Bankruptcies and Review of Best Practices
Lessons learned form recent Chapter 9 cases, coverage of debt resolutions mechanisms, and a scorecard of mechanisms for states to address local government financial distress
Municipal Bankruptcy: An Overview for Local Officials (State Budget Solutions, 2013)
Overview of municipal bankruptcy basics and process so that local officials have a framework for which to discuss whether bankruptcy is a viable option.
Chapter 9 – Bankruptcy Basics (United States Courts)
Publication provides basic information for the reorganization of municipalities and the different aspects of Chapter 9 of the Bankruptcy Code.
Municipal Bankruptcy: A Guide for Public Finance Attorneys (National Assoc. of Bond Lawyers, 2011)
Primer on municipal bankruptcy prepared by the Municipal Law Committee and Bankruptcy Project Subcommittee of the NABL for bond practitioners.
Primer on Municipal Debt Adjustment - Chapter 9 Bankruptcy Code (AFGI, 2012)
Primer by James E. Spiotto on municipal debt adjustment under Chapter 9 - Bankruptcy Code, as the last resort for financially distressed municipalities.