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To: Wiggins

Chapter 9 only applies to municipalities - creatures of the state (cities, counties, some state boards and special agencies.)

States, as sovereigns, have no way to declare bankruptcy under the current code.


18 posted on 07/23/2013 8:47:51 PM PDT by Wally_Kalbacken
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To: Wally_Kalbacken

Could states do a form of defacto bankruptcy and stall payments on pension obligations and retiree benefits, due to higher priority budget obligations?


19 posted on 07/23/2013 8:54:48 PM PDT by tbw2
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