Municipal Debt Restructuring Guide
You will Learn:
- How to Get Started on the Restructuring Process
- How Municipalities Can Restructure Without Chapter 9
- Viable Ways to Remain Fiscally Sound & Devoted to Local Residents
Municipalities looking to regain fiscal solvency have the opportunity to restructure their debts through the use of Chapter 9 bankruptcy proceedings. This process will see the elimination of nonessential debts and services, while others will be restructured so that the municipality can more easily meet its financial obligations light of reduced tax income or significantly increased financial burdens. Because Chapter 9 is designed for municipalities rather than individuals, it does not permit for full liquidation of any assets when seeking to pay off creditors or finance local obligations. Instead, restructuring must be done through a series or reorganizational moves, tax changes, and regulatory oversight - all of which are outlined in this white paper.
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