Balancing Best Interests and Feasibility in Chapter 9
Dow Jones Daily Bankruptcy Review
3/3/2011
William W. Kannel
"There is little Chapter 9 precedent. What little there is often deal with the challenges a municipality faces getting into Chapter 9. Less is written about how a municipality gets out of Chapter 9. There are material differences between the confirmation standards for a Chapter 9 plan of adjustment and those of a Chapter 11 plan of reorganization. One of the primary ways these differences manifest themselves is in the distinct way the 'best interests of creditors' and 'feasibility' tests are interpreted in Chapter 9."
In this article, "Balancing Best Interests and Feasibility in Chapter 9," published on March 3, 2011 in the Dow Jones Daily Bankruptcy Review, Mintz Levin attorney William W. Kannel explores the challenges courts face in administering the standards and feasibility of a municipality filing Chapter 9 while dealing with limited supervisory powers.
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