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Effects of COVID-19 Pandemic on Municipalities By: Laura Day DelCotto The pre-2020 collective wisdom was that municipal bonds were as good as gold, solid and basically without much risk. Investors in tax-free bonds get a greater bang for the buck with the tax savings....
By: Laura Day DelCotto The Seven Counties “saga” continued this week with the issuance of another ruling from the Sixth Circuit Court of Appeals. This chapter 11 bankruptcy case, filed in the spring of 2013, has suffered a monumental financial defeat this week. In...
Chapter 9 Bankruptcy on the Radar By: Laura Day DelCotto Chapter 9 bankruptcy for municipal entities is coming to the forefront. All public officials need to be educated and informed to fulfill their duties as fiduciaries. This is necessary for the public interests of...
The Rarely Used Chapter 9 is Reviewed during Pandemic By: Laura Day DelCotto Mitch McConnell has received much press over a comment he knows to be impossible. States lack the ability to file bankruptcy under the Bankruptcy Code absent a Congressional amendment....
Open Records/Open Meetings Issues Still Apply By: Laura Day DelCotto Most bankruptcy attorneys (as well as bankruptcy judges) do not normally run up against “open records” laws in the vast majority of their work. Of course, the local government leadership and all...
By: Laura Day DelCotto I recently had a conversation with a contact from eastern Kentucky, who told me that the County Judge Executive of his particular county had stated that county governments in Kentucky are prohibited from filing for bankruptcy. That is...
By: Laura Day DelCotto I recently attended a session where state officials, judges and bond attorneys discussed some of the reasons that they have encountered as to why municipal entities suffer financial struggles. The point was made that while governmental distress...
By: Laura Day DelCotto The Sixth Circuit Court of Appeals has certified the following question of law to the Kentucky Supreme Court: “Whether Seven Counties Services, Inc.’s participation as a department in and its contributions to the Kentucky Employees Retirement...
