Goals and Governance in Municipal Bankruptcy

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Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Goals and Governance in Municipal Bankruptcy by : Juliet M. Moringiello

Download or read book Goals and Governance in Municipal Bankruptcy written by Juliet M. Moringiello and published by . This book was released on 2015 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The years from 2011 to 2013 were remarkable in municipal bankruptcy terms. During those years, several cities and counties took the rare step of filing for bankruptcy under Chapter 9 of the Bankruptcy Code. When Detroit filed for bankruptcy in July, 2013, it became the largest city measured by both population and outstanding debt to file for Chapter 9.The recent filings challenge the conventional wisdom that Chapter 9 is poorly tailored to the rehabilitation needs of larger cities and counties. Those who have written about Chapter 9 in the past twenty years have treated Chapter 9 and state intervention in municipal financial affairs as freestanding alternatives rather than as complementary components of a comprehensive municipal financial recovery plan. These authors compare municipal bankruptcy to corporate bankruptcy and conclude that because Chapter 9 does not incorporate all of the Chapter 11 checks on debtor behavior, it cannot adequately promote the financial rehabilitation of a sizable general-purpose municipality. This approach ignores the original goal of Congress in enacting a municipal bankruptcy law in the aftermath of the Great Depression, which was to bring together two sovereigns, the state and the federal government, to accomplish something that neither could accomplish alone - the imposition of a plan to adjust municipal debts that would be binding on all creditors, wherever located. This article refocuses the discussion about the limitations of the municipal bankruptcy process by examining the goals of Chapter 9 and relating its governance provisions to those goals. A refocused discussion is particularly timely, because the deteriorating financial condition of many cities has led states to reexamine their programs for resolving municipal financial distress and the conditions under which they permit their municipalities to file for bankruptcy. Chapter 9 may only be as effective as the state governance that accompanies it. Therefore, policy makers on the state and federal levels need an understanding of the role of Chapter 9 in an integrated scheme for municipal financial recovery in order to decide whether and how to assist municipalities on the state level and to decide whether reforms to Chapter 9 are necessary.

Bankruptcies, Defaults, and Other Local Government Financial Emergencies

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Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Bankruptcies, Defaults, and Other Local Government Financial Emergencies by :

Download or read book Bankruptcies, Defaults, and Other Local Government Financial Emergencies written by and published by . This book was released on 1985 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Amending Municipal Bankruptcy Act

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Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Amending Municipal Bankruptcy Act by : United States. Congress. House. Committee on the Judiciary. Special Subcommittee on Bankruptcy and Reorganization

Download or read book Amending Municipal Bankruptcy Act written by United States. Congress. House. Committee on the Judiciary. Special Subcommittee on Bankruptcy and Reorganization and published by . This book was released on 1946 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Committee Serial No. 21.

Amendment of Bankruptcy Laws -- Bankruptcy of Municipalities

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Publisher :
ISBN 13 :
Total Pages : 156 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Amendment of Bankruptcy Laws -- Bankruptcy of Municipalities by : United States. Congress. Senate. Committee on the Judiciary

Download or read book Amendment of Bankruptcy Laws -- Bankruptcy of Municipalities written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 1934 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considers legislation to provide emergency bankruptcy proceedings for municipal governments and their creditors.

Governance Reform and the Judicial Role in Municipal Bankruptcy

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Governance Reform and the Judicial Role in Municipal Bankruptcy by : Clayton P. Gillette

Download or read book Governance Reform and the Judicial Role in Municipal Bankruptcy written by Clayton P. Gillette and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent proceedings involving large municipalities such as Detroit, Stockton, and Vallejo illustrate both the utility and the limitations of using the Bankruptcy Code to adjust municipal debt. In this article, we contend that, to truly resolve the distress of a substantial city, municipal bankruptcy needs to do more than simply provide immediate debt relief. Debt adjustment alone does nothing to remedy the fragmented decision-making and incentives for expanding municipal budgets that underlie municipal distress. Unless bankruptcy also addresses governance dysfunction, the city may slide right back into financial crisis. Governance restructuring has long been an essential element of corporate bankruptcy. Given the monopoly position of local governments as providers of local public goods, governance reform is even more important in the municipal bankruptcy context. Some might argue that reducing a city's debt is the best bankruptcy courts can do, because a more comprehensive approach would, among other things, interfere with state sovereignty. In our view, these concerns do not withstand inspection. Based on a careful analysis of the historical origins of the current municipal bankruptcy provisions, as well as an assessment of recent Supreme Court jurisprudence, we argue that governance reform is permitted even under existing law. To be sure, the states themselves, rather than a bankruptcy court, ideally should be the ones to effect municipal governance reform. But political factors and the salience of the fiscal crisis make state intervention unlikely, thus underscoring the need for a more comprehensive approach to municipal bankruptcy.

Municipal Reorganization

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Publisher :
ISBN 13 :
Total Pages : 464 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Municipal Reorganization by : United States

Download or read book Municipal Reorganization written by United States and published by . This book was released on 1933 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:

In a Bad State

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Publisher : Oxford University Press
ISBN 13 : 0197629156
Total Pages : 249 pages
Book Rating : 4.1/5 (976 download)

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Book Synopsis In a Bad State by : David Schleicher

Download or read book In a Bad State written by David Schleicher and published by Oxford University Press. This book was released on 2023-06 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative review of the long history of federal responses to state and local budget crises, from Alexander Hamilton through the COVID-19 pandemic, that reveals what is at stake when a state or city can't pay its debts and provides policy solutions to an intractable American problem. What should the federal government do if a state like Illinois or a city like Chicago can't pay its debts? From Alexander Hamilton's plan to assume state debts to Congress's efforts to respond to the COVID-19 pandemic, many of the most important political disputes in American history have involved federal government responses to state or local fiscal crises. In a Bad State provides the first comprehensive historical and theoretical analysis of how the federal government has addressed subnational debt crises. Tracing the long history of state and local borrowing, David Schleicher argues that federal officials want to achieve three things when a state or city nears default: prevent macroeconomic distress, encourage lending to states and cities to build infrastructure, and avoid creating incentives for reckless future state budgeting. But whether they demand state austerity, permit state defaults, or provide bailouts-and all have been tried-federal officials can only achieve two of these three goals, at best. Rather than imagining that there is a single easy federal solution, Schleicher suggests some ways the federal government could ameliorate the problem by conditioning federal aid on future state fiscal responsibility, spreading losses across governments and interests, and building resilience against crises into federal spending and tax policy. Authoritative and accessible, In a Bad State offers a guide to understanding the pressing fiscal problems that local, state, and federal officials face, and to the policy options they possess for responding to crises.

Law Between Buildings

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Publisher : Routledge
ISBN 13 : 1317107616
Total Pages : 249 pages
Book Rating : 4.3/5 (171 download)

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Book Synopsis Law Between Buildings by : Nestor Davidson

Download or read book Law Between Buildings written by Nestor Davidson and published by Routledge. This book was released on 2016-10-14 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rich field of urban law has thus far lacked a holistic and concerted scholarly focus on comparative and global perspectives. This work offers new inroads into the global and comparative streams within urban law by presenting emerging frameworks and approaches to topics ranging from urban housing and land use to legal informality and consumer financial protection. The volume brings together a group of international urban legal scholars to highlight emergent global, interdisciplinary perspectives within the field of urban law, particularly as they have import for comparative legal analysis. The book presents a timely addition to the literature given the urgent legal issues that continue to surface in an age of rapid urbanization and globalization.

Local Public Finance

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Publisher : Springer Nature
ISBN 13 : 3030674665
Total Pages : 354 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis Local Public Finance by : René Geissler

Download or read book Local Public Finance written by René Geissler and published by Springer Nature. This book was released on 2021-04-20 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is based upon a comparative public administration research project, initiated by the Hertie School of Governance (Germany) and the Bertelsmann Foundation (Germany) and supported by a network of researchers from many EU countries. It analyzes both the regimes and the practices of local fiscal regulation in 21 European countries. The book brings together key findings of this research project. The regulatory discussion is not limited to the prominent issue of fiscal rules but focuses on every component of regulation. Beyond this, the book covers affiliated topics such as the impact of regulation for local governments, evolution of regulation, administrative costs and crisis prevention. The various book chapters throughout provide a broad picture of local public finance regulation in theory and in practice, using different theoretical and national lenses for the analysis. Furthermore, the authors investigate the effects of budgetary constraints and higher-level regulatory efforts on local governments and on democracy and public services in every European country. This book fills a gap with respect to the lack of discussion on local government finance from an international, comparative perspective and, in particular, the regulation of local public finance. With its mix of authors, this book will be useful for practitioners as well as for scholars and for theory-driven research.

Yale Law Journal: Volume 125, Number 5 - March 2016

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Publisher : Quid Pro Books
ISBN 13 : 1610278003
Total Pages : 323 pages
Book Rating : 4.6/5 (12 download)

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Book Synopsis Yale Law Journal: Volume 125, Number 5 - March 2016 by : Yale Law Journal

Download or read book Yale Law Journal: Volume 125, Number 5 - March 2016 written by Yale Law Journal and published by Quid Pro Books. This book was released on 2016-03-30 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: This issue of the Yale Law Journal (the fifth issue of academic year 2015-2016) features articles and essays by notable scholars, as well as extensive student research. The contents include: "Governance Reform and the Judicial Role in Municipal Bankruptcy," by Clayton P. Gillette & David A. Skeel, Jr. "Professional Speech," by Claudia E. Haupt "Casey and the Clinic Closings: When 'Protecting Health' Obstructs Choice," by Linda Greenhouse & Reva B. Siegel "Returning to Common-Law Principles of Insider Trading After United States v. Newman," by Richard A. Epstein The student contributions are: Note, "Will Putting Cameras on Police Reduce Polarization?," by Roseanna Sommers Note, "Federal Questions and the Domestic-Relations Exception," by Bradley G. Silverman Comment, "Toward an Efficient Licensing and Rate-Setting Regime: Reconstructing § 114(i) of the Copyright Act," by Joseph Pomianowski Quality digital editions include active Contents for the issue and for individual articles, linked footnotes, active URLs in notes, and proper digital and Bluebook presentation from the original edition.

Government Intervention in the Reorganisation of Listed Companies in China

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Publisher : Cambridge University Press
ISBN 13 : 1108496652
Total Pages : 351 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis Government Intervention in the Reorganisation of Listed Companies in China by : 趙惠妙

Download or read book Government Intervention in the Reorganisation of Listed Companies in China written by 趙惠妙 and published by Cambridge University Press. This book was released on 2020-01-02 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the nature, extent and appropriateness of government intervention in the bankruptcy of listed companies in China.

Municipal Finances

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Publisher : World Bank Publications
ISBN 13 : 0821399144
Total Pages : 521 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Municipal Finances by : Catherine D. Farvacque-Vitkovic

Download or read book Municipal Finances written by Catherine D. Farvacque-Vitkovic and published by World Bank Publications. This book was released on 2014-06-27 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tells a fascinating story on municipal finances for local government practitioners with rich examples, global practices, and good and bad experiences the authors gained in decades of field work.

Public Pensions and City Solvency

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Publisher : University of Pennsylvania Press
ISBN 13 : 0812248260
Total Pages : 120 pages
Book Rating : 4.8/5 (122 download)

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Book Synopsis Public Pensions and City Solvency by : Susan M. Wachter

Download or read book Public Pensions and City Solvency written by Susan M. Wachter and published by University of Pennsylvania Press. This book was released on 2016-02-03 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Underfunded pension liabilities are severely threatening many cities, and policymakers are increasingly turning their attention to the legacy issues surrounding the funding of pensions. Public Pensions and City Solvency addresses this complex fiscal issue and presents strategies to achieve financial sustainability.

Intergovernmental Perspective

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Publisher :
ISBN 13 :
Total Pages : 1164 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Intergovernmental Perspective by :

Download or read book Intergovernmental Perspective written by and published by . This book was released on 1975 with total page 1164 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Logic and Limits of Bankruptcy Law

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Publisher : Beard Books
ISBN 13 : 9781587981142
Total Pages : 304 pages
Book Rating : 4.9/5 (811 download)

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Book Synopsis The Logic and Limits of Bankruptcy Law by : Thomas H. Jackson

Download or read book The Logic and Limits of Bankruptcy Law written by Thomas H. Jackson and published by Beard Books. This book was released on 2001 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: A careful analysis of the fundamentals of bankruptcy law.

Orderly and Effective Insolvency Procedures

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Publisher : International Monetary Fund
ISBN 13 : 9781557758200
Total Pages : 108 pages
Book Rating : 4.7/5 (582 download)

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Book Synopsis Orderly and Effective Insolvency Procedures by : International Monetary Fund

Download or read book Orderly and Effective Insolvency Procedures written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-08-02 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.

Research Handbook on City and Municipal Finance

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Publisher : Edward Elgar Publishing
ISBN 13 : 1800372965
Total Pages : 519 pages
Book Rating : 4.8/5 (3 download)

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Book Synopsis Research Handbook on City and Municipal Finance by : Craig L. Johnson

Download or read book Research Handbook on City and Municipal Finance written by Craig L. Johnson and published by Edward Elgar Publishing. This book was released on 2023-09-06 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely Research Handbook explores the handling of city and municipal finances in the 21st century. It examines the impact of the Great Recession and COVID-19 pandemic on cities and municipalities, highlighting strengths, weaknesses, and avenues for future progress in city and municipal financial management.