The National Association of Bond Lawyers has released the 3rd edition of Municipal Bankruptcy: A Guide for Public Finance Attorneys. This edition updates the 2012 edition with the experience of recent municipal bankruptcies, particularly that of the City of Detroit. The Guide includes a discussion of alternatives to bankruptcy, a history of Chapter 9, the specifics of municipal bankruptcy, and the treatment of a bond issue in municipal bankruptcy. The Guide also discusses procedures for commencing a municipal bankruptcy case, many of the important case management aspects, the plan of adjustment, and dismissal of a Chapter 9 case. Suggested additional readings are also included.
While the Guide is not intended to be neither a comprehensive treatise on the United States Bankruptcy Code, a complete compendium of the statutes that exist in all fifty states and comprise the authorization for or the alternatives to federal bankruptcy for municipalities, nor an exhaustive scholarly work on municipal insolvency, it is intended to provide the bond practitioner with the information and resources he or she may need to assist clients.