For Growing Numbers of Struggling U.S. Cities, the Downturn Has Arrived
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Puerto Rico Bondholders Reach Tentative Deal With Oversight Board
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First Circuit’s Traditional Approach to Section 552 Cuts Off Bondholders’ Liens
Employer contributions to Puerto Rico’s retirement system did not qualify as ‘special revenues,’ with the result that bondholders’ liens were cut off on the filing date.
Court:
Audit Raises Red Flags on Flint's Finances, But Mayor Says City Can Recover
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Supreme Court Won’t Hear a Case to Compel Paying Puerto Rico Bondholders Currently
Supreme Court let a First Circuit opinion stand that barred bondholders from compelling payment during Puerto Rico’s restructuring under PROMESA.
Court:
Bankruptcy Oddities
Journal Issue:
Illinois Governor Seeks Major Local Pension Fund Consolidation
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U.S. Trustee May Not Appoint an Unsecured Committee in a Municipal Bankruptcy
California judge sides with former Bankruptcy Judge Steven Rhodes by holding that the U.S. Trustee does not have statutory power to appoint an unsecured committee in a chapter 9 case.
Commentary: Analysts and Academics Weigh in on Whether States Should Be Allowed to File for Bankruptcy
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