Chapter 9 of the Bankruptcy Code is a ghost, of sorts. Everyone knows about it and it's existed for a long time, but there isn't much substantive law there.
The Chapter 9 Crucible
Any bankruptcy practitioner, upon first contact with a municipal bankruptcy case, may be shocked by the lack of substantive law to be found in Chapter 9. The dearth of detail has long caused bankruptcy lawyers and courts to turn to the far more substantive provisions of Chapter 11 for practical guidance.
By
Ron Oliner and John R. Weiss
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