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With municipality assets do not matter -- as Municipality cannot sell them. There are special provisions on what happens with debts under chapter 9 -- I would recommend that you opt out if you are not familiar with chapter 9 and/or powers of Emergency Control Board.
so if there is a civil judgement against the municipality for serious auto injury then the debtor of this individual claim would probably have a little chance to get paid -- as other heavy hitters on the committee would more likely to push their debts through. However, what I thought though -- that chapter 9 is mainly a re-organization chapter -- where the municipality is just given a breathing room to delal with its debts - but all of the municipality debts would normaly be paid -- but at the later date. What can you tell me about "Control Boards" which are imposed by the state to deal with municipality fiscal difficulties -- is it correct that the presence of the Control Board does not mean that the debts would be discharged or even delayed in paymenet (as municipality can continue borrowing)
If you know, what happends in reality when there is a Control Board and legitamate judgment by the court against the municipality. Would the control board representaive would try to get together with you and your attorney to negotiate a settelment on % of the judgement to be paid? How can a Control Board have a power to refuse to pay a 100% of the judgement issued by the Court when there is no bankruptcy?
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