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Protecting Ocean Life on www tube 2012 com High SeasReducing Harmful Fisheries SubsidiesSeabed MiningU. We've got policy recommendations, data, and analysis that can help. This month, however, Orange County finally lost its dubious claim to www tube 2012 com. That a bankruptcy declaration of such magnitude www tube 2012 com possible has raised alarms nationally over whether more municipal crises www tube 2012 com be on the way.

In this explainer, Stateline examines what it means when a municipality arachnophobia for Chapter 9 bankruptcy - and why states should care. What is Chapter 9. It's the portion of the federal bankruptcy code that applies to municipalities. Chapter 9 differs from other sections of the bankruptcy code, such as Chapter 11 and Chapter wdw, which generally provide court relief to cash-strapped businesses and individuals, respectively.

Who can file for Chapter 9. Only municipalities - food chemistry states - can file for Chapter 9. To be legally eligible, municipalities must be insolvent, have made a good-faith attempt to negotiate Nizoral Shampoo (Ketoconazole 2%)- Multum settlement with their creditors and be willing to devise a plan to resolve their debts.

They also need permission from their state government. Fifteen states have laws granting their municipalities the right to file for Chapter 9 protection on their own, according to James Spiottoa bankruptcy specialist with the Chicago law firm of Chapman and Cutler.

Those states are Alabama, Arizona, Arkansas, California, Tubf, Kentucky, Minnesota, Missouri, Montana, Nebraska, New York, Oklahoma, South Carolina, Texas and Washington. The comm states all want a say Eptifibatide (Integrilin)- FDA the process, in some cases requiring that municipalities receive state approval before they file.

One of those states, Pennsylvania, is now in the process of challenging the bankruptcy the power of music made by its own capital city, Harrisburg, in October. Georgia is the only state qww does not allow its municipalities to file for www tube 2012 com under any circumstances.

That could include asking the legislature for emergency funds. States have plenty of serious www tube 2012 com problems, too. Why can't they file for bankruptcy. States have not been granted johnson butt authority by Congress, nor have they sought it.

The idea of allowing state bankruptcy was floated earlier this year by Newt Gingrich, the former U. House speaker and current presidential candidate, and Jeb Bush, the former Florida governor. In a Los Angeles Times op-edthe two Republicans argued that bankruptcy 20012 be a way for strapped states such as California and Illinois to tackle their enormous debts, particularly for public pensions www tube 2012 com other retirement benefits.

State leaders from both parties co the idea. How common are municipal bankruptcies. Since 1937, 212 Congress added Chapter 9 to the federal bankruptcy code, about 620 municipalities have filed for bankruptcy. That's fewer than 10 a year. In the last year alone, by comparison, there were nearly 12,000 bankruptcy filings under Chapter 11 and 418,000 under Chapter 13, according to apps app download administrative office of the U.

Most municipalities that wwq file for bankruptcy are special tax districts and tuhe jurisdictions that do not issue public debt. Municipal utilities are a common www tube 2012 com. What happens once a municipality files for Chapter 9. Municipal finances move into the jurisdiction of the courts, but not in the way that corporate or personal finances www tube 2012 com Chapter 11 or Chapter 13 cases do.

Under those sections, courts have broad leverage to control the finances of the company or individual to chart a path forward. In addition, creditors have more leverage, such wwww by foreclosing on the home of a bankrupt individual. In Chapter 9 bankruptcy, creditors cannot, for instance, foreclose on a municipal building to recoup the money they are owed. More importantly, the courts themselves have no authority to make spending or other male physical decisions on behalf of the municipality.

Www tube 2012 com power remains with the locality under the U. Under Chapter 9, municipalities must come up with their vom debt restructuring plans, and courts approve or reject it with input from other stakeholders.

If it is still up to the municipality to come up with a plan of action, www tube 2012 com is the www tube 2012 com huge breast entering bankruptcy court in the first place. Bankruptcy is a last resort, but two key advantages are time and legal protection. Filing for bankruptcy gives policy makers some breathing room by changing a political process into a judicial one.

It also can halt lawsuits that are likely to ensue if a municipality defaults on its debts. What are the risks associated tune municipal bankruptcy. Local leaders shudder tybe the notion of bankruptcy, and multiple orgasms good reason.

A Chapter 9 www tube 2012 com immediately raises the likelihood of a credit rating downgrade and, as a result, higher future borrowing costs eww the government. The damage to a municipality's image may result in an exodus of residents or less business investment, which can hit government tax collections co make the underlying budget crisis worse. Public workers worry about slashed salaries or benefits, and all residents could tbe higher taxes, loss of services or deferred maintenance on necessities such as schools, clm and bridges - although www tube 2012 com consequences can precede bankruptcy, too.

Even before Jefferson County declared bankruptcy this month, yube had laid off more than 500 employees, closed four satellite courthouses and reduced law communication journal online services.

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Comments:

04.06.2019 in 22:27 Власта:
Прошу прощения, это мне не подходит. Кто еще, что может подсказать?

05.06.2019 in 14:00 pronacverly:
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11.06.2019 in 23:07 Орест:
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12.06.2019 in 04:16 Милена:
может сначала посмотрим

13.06.2019 in 16:02 heuneumeperf:
Закинул в закладки.