Municipal Workouts/Chapter 9 Bankruptcy
Lewis & Munday has helped many municipalities with workouts. If you need Chapter 9 bankruptcy assistance, Lewis & Munday can provide the experienced legal representation you need.
With office locations in Detroit, Lansing, Seattle, Hartford and Washington, D.C., Lewis & Munday has the ability to represent municipalities across the nation.
The Firm Trusted by Municipalities and Universities
As a nationally respected law firm, Lewis & Munday has been trusted by municipalities and universities to handle complex financial and legal matters. Throughout the firm's 35-plus years of service, Lewis & Munday has represented numerous Fortune 500 companies, the City of Detroit, Detroit Public Schools, Wayne County (Michigan), Downtown Development Authority, The Economic Development Corporation of the City of Detroit and the Detroit Building Authority.
The firm has also been trusted to represent the State of Connecticut, agencies or authorities of the State of Michigan, the City of Flint, Michigan, the City of Richmond, Virginia, Oakland University and the University of Michigan.
About Chapter 9: Municipal Bankruptcy
Chapter 9 relief is available for qualifying municipalities, including cities, towns, counties and various government entities. Eligibility requirements for municipal bankruptcy are set out in Chapter 9 of the U.S. Bankruptcy Code. Some of the eligibility requirement for Chapter 9 relief, as stated in 11 U.S.C. Section 109(c), include:
- The applicant must be a municipality (Section 109(40) defines municipality)
- The municipality must be insolvent
- The municipality must desire to effect a plan to adjust its debts
Section 109(c) also requires municipalities to complete the following:
- Gain the approval of certain creditors
- Demonstrate that it has negotiated in good faith to seek such approval
- Demonstrate that it is unable to negotiate with creditors; or
- Demonstrate that the municipality believes the creditor may seek a transfer under Section 547 of Title 11.
Contact an Attorney at Lewis & Munday
To speak with a lawyer about Chapter 9 municipal bankruptcy relief, contact Lewis & Munday.
