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After Detroit: What You Need to Know about the New Face of Chapter 9

1h 1m

Created on November 05, 2015

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Overview

Detroit was the single largest municipal bankruptcy in the history of the United States. It was filed under Chapter 9 of the Bankruptcy Code, which provides a vehicle for financially-distressed government bodies to restructure their debts. Detroit provided groundbreaking precedent on a wide range of key issues in Chapter 9 municipal bankruptcies, including the restructuring of pension and bond obligations, managing collective bargain agreements, identifying creative sources of funding for the restructuring plan, and addressing public relations. With the successful conclusion of the Detroit bankruptcy, other municipalities may turn to Chapter 9 to remedy their financial issues.  

 

In order to evaluate exposure to a potential Chapter 9 restructuring or identify opportunities for distressed investment in municipal obligations, every in-house counsel -- whether acting for governmental entities, corporations doing business with governmental entities, or distressed investment firms -- needs to understand the developing legal landscape of Chapter 9. Join BakerHostetler attorneys Marc Hirschfield and Ferve Ozturk as they discuss recent developments in Chapter 9.

 

Learning Objectives:

I.   Understand the Mechanics of Chapter 9 

II.  Analyze the Detroit Chapter 9 case and rulings on key issues in that Chapter 9 restructuring

III. Explore how precedent from Detroit will affect how Chapter 9 is used going forward

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