Many municipalities all over the country are experiencing financial distress, and I believe this chapter of the bankruptcy system will be, and is currently being, tested tremendously by this crisis over the next years. There are a number of municipalities that are in bankruptcy now and, I believe, more to come. Whether the bankruptcy system can help solve that problem for all concerned, time will tell.
Patrick Darby, Mark Kaufman, Marc Levinson, Gary Marsh & Eric Schaffer,
Corporate Bankruptcy Panel,
Emory Bankr. Devs. J.
Available at: https://scholarlycommons.law.emory.edu/ebdj/vol29/iss2/2