Harrisburg: A Case Study in State Law Barriers to Chapter 9

On November 23, 2011, the Bankruptcy Court for the Middle District of Pennsylvania dismissed Harrisburg, Pennsylvania's Chapter 9 bankruptcy petition because, shortly before the filing, the state legislature expressly prohibited Harrisburg from seeking relief under Chapter 9.  Harrisburg's failed attempt to remain in Chapter 9 highlights the political factors and state law constraints that municipalities must consider prior to seeking bankruptcy
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America Now!

America Now! - ABI's 2012 International Insolvency & Restructuring Symposium, Rome - Lucio Ghia, Donald S. Bernstein, James L. Bromley, Bryan P. Marsal, Hon. James M. Peck
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