James Spiotto of Chapman and Cutler Discusses the Possibility of a State Bankruptcy Chapter

On this edition, James Spiotto, the head of the bankruptcy practice at Chapman and Cutler, discusses his recent testimony before a House judiciary subcommittee on "The Role of Public Employee Pensions in Contributing to State Insolvency and the Possibility of State Bankruptcy Chapter" where he urged lawmakers to reconsider a proposal that would grant financially troubled states the right to file for bankruptcy. He explains the benefits and problems of enacting bankruptcy protection for states and possible remedies if states are not allowed to file for bankruptcy. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc. All rights reserved. Visit www.lexisnexis.com/community/bankruptcylaw.