Tag: fiscal distress

Another Entrant into Act 47

  Does this sound familiar? A city with “year end structural deficits that were addressed by one-time solutions; debt burden in excess of 10% of

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Act 47, 48, 49…

  As the discussion over whether states should be allowed to declare bankruptcy heats up (they cannot do so now) several states are taking steps

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Big Changes to Act 47

  That’s true in the case of cities of the third class, a municipal classification that differentiates cities from those of the first class (Philly),

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Page Turns to Chapter 9

  Whether comparatively easier or very difficult as is now the case, entering Chapter 9 bankruptcy is a huge step with possible unforeseen negative consequences.

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