News & Analysis as of

Municipalities Debtors

Cadwalader, Wickersham & Taft LLP

“ToMAYto, ToMAHto”: District Court Holds That Differences in State Law Determine Whether Unpaid Annual Pension Contributions...

On March 21, 2025, the U.S. District Court for the Northern District of California affirmed a bankruptcy court’s dismissal of the San Benito Healthcare District’s chapter 9 bankruptcy petition on the grounds that the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Supreme Court Validates PR Financial Oversight Board, but Challenges Remain

Since PROMESA was enacted in 2016 to pave the way for a comprehensive restructuring of Puerto Rico’s mounting municipal debt obligations, the U.S. District Court for the District of Puerto Rico (District Court) has become a...more

Carlton Fields

Can Doing Nothing as a Creditor Get You Sanctioned?

Carlton Fields on

Most experienced creditors know that once a debtor files bankruptcy the automatic stay imposed by Section 362 of the Bankruptcy Code generally precludes various actions to recover debt. ...more

Harris Beach Murtha PLLC

Detroit: Has Oversight Helped the Municipality Rebound?

There is evidence of a turn-around for municipalities recently struggling to stay afloat. We have posted on several occasions about the fiscal challenges facing municipalities nationwide, from Detroit and Chicago in 2015 and...more

Pullman & Comley, LLC

Bankruptcy Beat: The Second Circuit Establishes a Binding Standard For Lien Extinguishment Under a Plan of Reorganization

Pullman & Comley, LLC on

The Second Circuit Court of Appeals recently issued an opinion, City of Concord, N.H. v. N. New England Tel. Operations, LLC (In re N. New England Tel. Operations LLC), 795 F.3d 343 (2d Cir. 2015), addressing an issue of...more

JD Supra Perspectives

Copy: City of Detroit's Petition for Chapter 9 Bankruptcy

JD Supra Perspectives on

The fourth most-populous city in the United States has filed for bankruptcy. Detroit, Michigan filed for Chapter 9 bankruptcy protection on July 18, 2013. Commentators speculate that the City is carrying a debt load...more

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