Chapter 9 Bankruptcy

Call: 888-297-6203 Financial crisis can be a problem that is faced by not just individuals but also municipalities. Getting their finances in order might require some assistance. According to Dallas based bankruptcy law firm Recovery Law Group Chapter 9 bankruptcy is an option available to municipalities to get their finances in order by restructuring their debts. On December 3, 2013, a landmark judgment by U.S. Bankruptcy Judge provided respite to Detroit’s claim for protection under Chapter 9 bankruptcy. The city municipality was relieved of $18 billion debt. According to Judge Steven Rhodes, the filing for bankruptcy and the [...]