Municipal Insolvencies in the Wake of Detroit: Navigating Chapter 9 and Out-of-Court Restructuring
Best Practices for Municipalities, Bondholders, Pension Funds and Other Creditors
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide practitioners with an analysis of relevant and unique issues under Chapter 9 for municipalities, bondholders, pension funds and other creditors and options for consensual out-of-court restructuring.
Outline
- Eligibility: Chapter 9, state law requirements and creditor challenges to the petition
- Pre-petition planning
- Plan confirmation strategies and role of creditors
- Out-of-court restructuring options
Benefits
The panel will review these and other key questions:
- What eligibility hurdles does Chapter 9 present for insolvent municipalities and what steps are states taking to limit the ability of municipalities to file Chapter 9?
- What restrictions does Chapter 9 place on creditor rights and remedies and what must municipal bondholders and creditors consider in the face of a municipal insolvency?
- What must municipalities consider in pre-petition planning?
- What are key factors and best practices for out-of-court restructuring?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Faculty

B. Summer Chandler
Partner
McKenna Long & Aldridge
Ms. Chandler's practice focuses on bankruptcy, workouts and debtor/creditor law and general commercial litigation.... | Read More
Ms. Chandler's practice focuses on bankruptcy, workouts and debtor/creditor law and general commercial litigation. She has extensive experience representing creditors, landlords, debtors, trustees, buyers of assets out of bankruptcy and other parties in interest in Chapter 11 and Chapter 7 proceedings. She currently represents the receiver for the City of Harrisburg in the Harrisburg insolvency matter.

Mark S. Kaufman
Partner
McKenna Long & Aldridge
Mr. Kaufman represents secured creditors, lenders, investors and committees. He has also represented debtors in... | Read More
Mr. Kaufman represents secured creditors, lenders, investors and committees. He has also represented debtors in Chapter 11 cases, including as lead counsel of one of the nation’s most significant utility bankruptcies. He advises financially distressed municipalities, special purpose districts and related government entities. Mr. Kaufman currently serves as lead counsel to the Receiver to the City of Harrisburg, PA.
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Luke A. Sizemore
Reed Smith
Mr. Sizemore's practice focuses on commercial restructuring and bankruptcy. He represents financial institutions,... | Read More
Mr. Sizemore's practice focuses on commercial restructuring and bankruptcy. He represents financial institutions, indenture trustees, and other secured and unsecured creditors in bankruptcy cases and non-judicial restructurings, advising counterparties to financial contracts entitled to safe harbor protections under the Bankruptcy Code, and defending creditors in preference and fraudulent transfer litigation.
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Steven H. Felderstein
Managing Partner
Felderstein Fitzgerald Willoughby & Pascuzzi
Mr. Felderstein has over 35 years of business bankruptcy experience, advising on all aspects of bankruptcy and... | Read More
Mr. Felderstein has over 35 years of business bankruptcy experience, advising on all aspects of bankruptcy and out-of-court workouts. He represented the California Public Employees’ Retirement System, the largest creditor in the City of Vallejo chapter 9 case, and has also represented numerous clients in Chapter 11 cases. He is a Fellow of the prestigious American College of Bankruptcy and has been recognized for 25 years by The Best Lawyers in America.
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