Personal and corporate bankruptcies are designed to give filers a “fresh start.” But struggling municipalities seeking the same outcome from a Chapter 9 filing are likely to be disappointed – instead facing months or years of expensive legal battles with angry employees and creditors, along with increased scrutiny from Federal regulators looking for bankruptcy-related and other disclosure and tax-law violations.

On March 22, 2012, Orrick’s George Greer, John Knox, Marc Levinson, Lorraine McGowen and Larry Sobel partnered with The Bond Buyer for a detailed web seminar that explained the fast-changing landscape for municipalities in bankruptcy, and strategies that issuers and their professional advisors can employ to streamline the process and avoid violations. Topics discussed included:

•Ins and outs of Chapter 9 workouts
•Keeping the market informed and avoiding liability with appropriate disclosure
•Tax-law opportunities and pitfalls relating to asset sales and workouts

Please click here to view the webinar.

Additional Resources:

•Webinar Presentation: Navigating the Municipal Bankruptcy Minefield
•Municipal Bankruptcy: Avoiding and Using Chapter 9 in Times of Fiscal Stress by John Knox and Marc Levinson
•SEC Investigations and Enforcement Actions by George Greer