Similar Search Results

Litvack, David; Rizzo, Frank - In: Municipal finance journal : the state and local … 21 (2000/01) 2, pp. 25-42

Persistent link: https://www.econbiz.de/10001521997

Assessing Financial Distress Where Bankruptcy is Not an Option : An Alternative Approach for Local Municipalities

Cohen, Sandra - 2012

The goal of this paper is to build an operational model for evaluating the financial viability of local municipalities in Greece. For this purpose, a multicriteria methodology is implemented combining a simulation analysis approach (stochastic multicriteria acceptability analysis) with a...

Persistent link: https://www.econbiz.de/10013099605

Can Pensions Be Restructured in (Detroit’s) Municipal Bankruptcy?

Skeel, David A. - 2013

This paper, which was written as a White Paper for the Federalist Society, describes and assesses the question whether public employee pensions can be restructured in bankruptcy, with a particular focus on Detroit. Part I gives a brief overview both of the treatment of pensions under state law,...

Persistent link: https://www.econbiz.de/10013072407

How Cities Fail : Service Delivery Insolvency and Municipal Bankruptcy

Gillette, Clayton P. - 2020

“insolvency” by embracing a test of “service delivery insolvency.” That test is typically evaluated in terms of a significant … limitations of a service delivery insolvency test. Reductions in service may indicate efforts to recover fiscal health rather than … service reductions as a measure of insolvency creates perverse incentives for local officials who desire to obtain debt relief …

Persistent link: https://www.econbiz.de/10012842602

Law and Legislation in Municipal Bankruptcy

Buccola, Vincent S.J. - 2017

Corporate and consumer bankruptcy are defined by two principal features: a compulsory process and an identifiable set of priorities to debtor property. These “rule of law” features reduce borrowing costs ex ante by, among other things, discouraging rent-seeking ex post. Municipal bankruptcy,...

Persistent link: https://www.econbiz.de/10012972404

Restructuring Municipal Bankruptcy

Coordes, Laura - 2016

What sorts of legal relief should be available to a municipality in financial distress? Chapter 9 of the Bankruptcy Code has served as an option of last resort for many municipalities over the years. But as this Article illustrates, Chapter 9 arguably falls short of an effective solution and at...

Persistent link: https://www.econbiz.de/10013004873

Pensioners, Bondholders, and Unfair Discrimination in Municipal Bankruptcy

Dawson, Andrew - 2016

Detroit recently confirmed its plan of debt adjustment under which the city has endeavored to adjust its pension obligations. The court's confirmation order and oral opinion on the record present what is perhaps the most significant decision regarding a key question facing any city attempting to...

Persistent link: https://www.econbiz.de/10013006040

Taxes and Ability to Pay in Municipal Bankruptcy

Hunt, John P. - 2015

Scholars and commentators have argued that municipalities can and should use bankruptcy to shed unwanted liabilities, particularly employee healthcare and pension commitments. Courts increasingly have agreed: Detroit's approved bankruptcy plan cut pensions, and the bankruptcy court overseeing...

Persistent link: https://www.econbiz.de/10013014243

Insured Bond Pricing in the Biggest Municipal Bankruptcy in History : The Case of Detroit

Murphy, Austin - 2020

This case study finds evidence that stricter state interference in the financial affairs of a distressed government (that increases the likely payoff to its own creditors) raises the default risk of nearby municipalities. Economically related municipalities are found to be adversely impacted by...

Persistent link: https://www.econbiz.de/10012855392

Alternative Accounting Measures as Predictors of Municipal Financial Distress

Raman, K. K. - 2014

Persistent link: https://www.econbiz.de/10013050439