Overview of Municipal Bankruptcy and Chapter 9 Eligibility

    View Authors April 2011

    This white paper, authored by the co-chairs of Squire Sanders’ Public Sector Fiscal Stability task force, examines the likelihood, and mechanism (Chapter 9), of municipal bankruptcies given the economic sluggishness of the last few years. It covers the municipality eligibility, filing, powers and limitations of municipalities in bankruptcy, special revenue options, plans of arrangement and the use of specialized professionals.