When municipalities declare bankruptcy, the fate of public employees’ pensions and other post-employment benefits (OPEB) are almost always one of the most contentious issues that need to be settled. This program takes a look at the effect Chapter 9 of the Federal Bankruptcy Code has on these questions in a discussion with Larry Larose, one of the country’s premier experts in this area.

Related videos are available in the Chapter 9 Online Repository

This package of materials was transmitted to Congress on April 26, 2018, concerning amendments to the Federal Rules of Practice and Procedure to become effective on December 1, 2018.

Amendments to the Federal Rules of Practice and Procedure are as follows:

This package of materials was transmitted to the U.S. Supreme Court on October 4, 2017, concerning amendments to the Federal Rules of Practice and Procedure to become effective on December 1, 2018.

Municipalities facing fiscal crisis often must make difficult choices, attempting to balance their financial obligations with obligations to deliver critical services, such as the provision of public safety, education, and health, as well as water, sewer, and transportation services. The primary objectives of Chapter 9—to provide a breathing spell to, and adjust the debts of, a distressed municipality—are familiar to bankruptcy professionals. The substance and process of Chapter 9, however, differ from other plan chapters under the Bankruptcy Code in meaningful ways.