Westfall Township, Pennsylvania filed a Chapter 9 bankruptcy petition in April, 2009 and the court confirmed a reorganization plan in March, 2010. According to the law firm that handled the case: Westfall Township, located in Pike County, PA, was saddled… Continue Reading →
I am adding a link to this article that updates Toledo’s fiscal situation. (See prior post.) The city is wrestling with a budget gap and trying to negotiate with unions over compensation. Ohio is a state that has a fiscal emergency… Continue Reading →
The tables below are for contextual reference as state and local governments face draconian spending cuts. The combination of public policy with the several bubble periods over the last twenty-five years has created a toxic brew. Some state and local governments are… Continue Reading →
Here is an interesting clip from MLive about the debate over Flint’s dire finances. Michigan has a receivership program that has been used a number of times so municipalities cannot just file bankruptcy in federal court without going through the… Continue Reading →
Looks like the city is making its best effort to try to resolve budget imbalance. Ohio is one of the states that has a strong oversight/receivership program and municipalities may not file bankruptcy without approval of the state. Local governments… Continue Reading →
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