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Rediscovering Chapter 9 As Financial Woes of Municipalities Escalate

By Erica M. Ryland and Mark G. Douglas

Last month, we discussed the fact that even though Chapter 9 of the Bankruptcy Code has been in effect for over 30 years, fewer than 100 Chapter 9 cases have been filed during that time. Municipal bankruptcy cases ' or, more accurately, proceedings involving the adjustment of a municipality's debts ' are a rarity, compared with reorganization cases under Chapter 11. This, however, may be changing. We now continue that discussion.

Bankruptcy Court's Limited Role

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