George B. South III and Daniel G. Egan of DLA Piper write: Municipalities facing reductions in tax revenues, lower real estate values, underfunded pension plans, increased operating costs and fraud routinely search for ways to restore financial stability, and Chapter 9 is increasingly being considered as a viable option. Whether it is the best option remains, in many cases, to be seen.
Has the Municipal Bankruptcy Tide Shifted?
New York Law Journal
December 3, 2012
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