Recent Posts

Stockton, California Chapter 9 Filing - Another Outlier, Or Harbinger?
Posted on 2 Jul 2012 by Kelley Drye & Warren LLP

Meredith Whitney, one of the first financial analysts to foresee the collapse of the housing market, famously predicted in December 2010 that a wave of municipal bond defaults was on the way . The wave, however, has yet to materialize, and the bankruptcy... Read More

The Right Kind of Broke? Judge Weighs Deeply Insolvent County's Eligibility For Chapter 9 Protection
Posted on 10 Jan 2012 by Kelley Drye & Warren LLP

The travails of Jefferson County, Alabama are well known. Ordered by a federal court to upgrade its sewer system in the late 1990's, the project was marred by corruption, cost overruns and financing with complex derivatives that ultimately saddled... Read More