Professional Documents
Culture Documents
I.
B.
2.
3.
II.
by state law, or
2.
B.
C.
D.
Have:
1.
2.
3.
4.
E.
ii.
b
b.
2.
"Local
Local public entity
entity" means any county, city, district, public
authority, public agency, or other entity, without limitation, that is
a municipality as defined in Section 101(40) of Title 11 of the
United States Code . . . [but not] a school district.
b.
F.
G.
b.
Operational structure
c.
Primary assets
d.
e
e.
Core vs.
vs non-core
non core activities
f.
Text here
2.
3.
b.
Automatic stay does not apply and bonds may continue to be paid
post-petition ( 922(d))
But: Subject to the operating expenses ( 928(b))
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2.
3.
Statutory Liens
a.
b.
Contractual Liens
a.
b.
the holder of any claim or interest that is junior to the claims of such
class will not receive or retain any property under the plan on account
of such jjunior claim or interest.
C.
2.
b.
3.
ii.
b.
c.
Will the municipality have adequate funds to carry out operations for its
politically mandated mission? It is not necessary that all taxes collected go
to pay creditors.
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3.
4.
5.
6.
Lender
1. Know who you are Understand your
status vis--vis other creditors; your
realistic rights in any collateral (if
secured); your precarious position (if
unsecured).
2. Know how you would raise the bar for
plan confirmation:
a. Comparison to hypothetical
Chapter 7
b. Whats fair and equitable
q
to
creditors under the
circumstances
Know what Chapter 9 could/would mean for you before choosing/forcing a path.
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