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Primer on Municipal
Insolvencies Available at ABI World
February 9, 2005, Alexandria,
Va. — The American Bankruptcy Institute announces
the release of “A Primer on the Treatment of Municipalities Under
Chapter 9 of the U.S. Bankruptcy Code,” by Alexander M.
Laughlin of Wiley Rein & Fielding LLP
(McLean,
Va.). The document is available
at
http://www.abiworld.org/pdfs/municipal_primer.pdf.
The primer offers an overview of
municipal insolvency issues and includes guidelines for potential
creditors and debtors in dealing with the unique treatment of municipal
debts under chapter 9 of the United States Bankruptcy Code.
From Constitutional limitations to eligibility requirements to the
steps for filing a chapter 9 through the discharge of a
municipality’s debts, the primer provides a concise yet
comprehensive treatment of this growing area of
concern.
Although chapter 9 cases are few in
number (only six cases were filed in 2003, for example) they frequently
raise novel issues. Orange County,
California filed for chapter 9
protection on Dec. 6,
1994 and the county emerged from bankruptcy on June 29 1996. Typically, the
cases involve municipal utilities such as water districts, school
districts or instrumentalities needed for a singe purpose or project,
such as a prison or convention center.
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ABI is the largest multi-disciplinary,
non-partisan organization dedicated to research and education on matters
related to insolvency. ABI was founded in 1982 to provide Congress
and the public with unbiased analysis of bankruptcy issues. The
ABI membership includes over 10,600 attorneys, accountants, bankers,
judges, professors, lenders, turnaround specialists and other bankruptcy
professionals providing a forum for the exchange of ideas and
information. For additional information on ABI, visit ABI World
at http://www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.
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