Number of Chapter 9 bankruptcy filings in the United States by type 1980-2018
Between 1980 and 2018, 54 cities, villages, or counties in the United States filed for Chapter 9 bankruptcy.
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.
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.
