In 2020, four municipal authorities in the United States filed for bankruptcy under Chapter 9 of the Bankruptcy Code. In addition to being less than the six Chapter 9 bankruptcies in the preceding year, this is far lower than the 20 municipal bankruptcies recorded in 2012.
Chapter 9 bankruptcy allows for financially distressed municipalities to reorganize outstanding debt with their creditors. Municipality is broadly defined, including cities, counties, townships, school districts, and public improvement districts, as well as revenue-producing bodies such as bridge and highway authorities.
Annual number of Chapter 9 municipality bankruptcy cases filed in the United States from 2000 to 2020
Chapter 9 bankruptcy allows for financially distressed municipalities to reorganize outstanding debt with their creditors. Municipality is broadly defined, including cities, counties, townships, school districts, and public improvement districts, as well as revenue-producing bodies such as bridge and highway authorities.
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American Bankruptcy Institute. (January 31, 2021). Annual number of Chapter 9 municipality bankruptcy cases filed in the United States from 2000 to 2020 [Graph]. In Statista. Retrieved August 18, 2022, from https://www.statista.com/statistics/1118479/bankruptcy-filings-us-chapter-9-municipality/
American Bankruptcy Institute. "Annual number of Chapter 9 municipality bankruptcy cases filed in the United States from 2000 to 2020." Chart. January 31, 2021. Statista. Accessed August 18, 2022. https://www.statista.com/statistics/1118479/bankruptcy-filings-us-chapter-9-municipality/
American Bankruptcy Institute. (2021). Annual number of Chapter 9 municipality bankruptcy cases filed in the United States from 2000 to 2020. Statista. Statista Inc.. Accessed: August 18, 2022. https://www.statista.com/statistics/1118479/bankruptcy-filings-us-chapter-9-municipality/
American Bankruptcy Institute. "Annual Number of Chapter 9 Municipality Bankruptcy Cases Filed in The United States from 2000 to 2020." Statista, Statista Inc., 31 Jan 2021, https://www.statista.com/statistics/1118479/bankruptcy-filings-us-chapter-9-municipality/
American Bankruptcy Institute, Annual number of Chapter 9 municipality bankruptcy cases filed in the United States from 2000 to 2020 Statista, https://www.statista.com/statistics/1118479/bankruptcy-filings-us-chapter-9-municipality/ (last visited August 18, 2022)
