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Posts Tagged ‘what is chapter 9’

Detroit Files Chapter 9: What Lies Ahead?

Posted by Larry Doyle on July 19th, 2013 12:23 PM |

With no surprise to absolutely anybody, the City of Detroit filed bankruptcy yesterday via Chapter 9.

How does an entity such as Detroit get to the point of being 18 billion in debt? Well, I addressed that point a month ago in writing, Detroit: D is for Disaster.

There will be years worth of likely challenging negotiations and contested legal battles among Detroit’s creditors (primarily the pensioners and bondholders). Those within the municipal bond market and beyond will be watching this play out with bated breath. (more…)

Will States, such as California, File Chapter 9?

Posted by Larry Doyle on December 3rd, 2010 6:38 AM |

Are those large waves roiling the world of municipal finance–and centered on California–to be feared?

Are they an indication of an oncoming tsunami? Or are they to be discounted and taken as just another ¬†“Hey, dude, don’t worry. Surf’s up!!”

Well, perhaps those less concerned about what is just ‘off the coast’ may care to ‘break out their boards’ but prudence dictates we take a harder look at what is causing the recent waves in the world of municipal finance. These factors include: (more…)

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