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Motor City Meltdown: Municipal Bankruptcy in Brief – Chapter 9 Administration in a Nutshell

Posted in Bankruptcy, Bond Finance, Debt and Judgment Collection, State Tax Issues

From March 2012 to March 2013, 76,467 bankruptcy petitions were filed in Florida under Chapters 7, 11 and 13. In contrast, since the Great Depression less than 500 municipalities have filed for Chapter 9 protection. In fact, only twelve municipalities filed for bankruptcy protection last year. Nevertheless, once Detroit became the largest city in U.S…. Continue Reading