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dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5142
Experience:  37 plus years of experience specializing in bankruptcy law
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How does municipal bankruptcy differ from that of corporate

Resolved Question:

How does municipal bankruptcy differ from that of corporate bankruptcy?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  dylatess replied 4 years ago.
Over 33 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions. In a municipal bankruptcy, the municipality is reorganizing and therefore staying as a municipality but asking the court to reorganize their debts. I a corporate bankruptcy, the business is either going out of business as in a chapter 7 or reorganizing like a municipality by fling a chapter 11. Note, most municipalities file a chapter 12.

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