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  1. #1
    Senior Member JohnDoe2's Avatar
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    46 U.S. cities have filed for bankruptcy since 1980

    Central Falls, RI stares down 'painful' bankruptcy

    By ERIKA NIEDOWSKI, Associated Press
    9:16 a.m., July 10, 2011

    CENTRAL FALLS, R.I. Rhode Island's most distressed city is on the cusp of declaring bankruptcy, a relatively rare step for municipalities even in tough financial times.

    Central Falls, a city of 19,000 residents north of Providence, is being run by a state receiver who is trying to cut the budget and renegotiate costly union contracts. Without major concessions, state receiver Robert G. Flanders Jr. says bankruptcy is a very real possibility.

    Not too many cities or towns have gone that route. Since 1980, only about 46 have filed for federal bankruptcy protection. (Out of more than 18,000 cites, towns, villages, etc.)

    Richard Levin, an attorney who has been advising the City Council in Harrisburg, Pa., which has been flirting with bankruptcy, calls the process "difficult, painful and wrenching."

    http://www.signonsandiego.com/news/2011 ... ruptcy/?ap
    Last edited by JohnDoe2; 07-18-2013 at 08:46 PM.
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  2. #2
    Senior Member JohnDoe2's Avatar
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    I don't recall hearing anything about any cities filing for bankruptcy.
    I must not have been paying attention.
    (Or this didn't get the news coverage it should have.)
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  3. #3
    Senior Member JohnDoe2's Avatar
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    Jefferson County AL. bankruptcy would top $4.1 billion

    http://www.alipac.us/ftopict-245510.html
    Last edited by JohnDoe2; 06-27-2012 at 07:40 PM.
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  4. #4
    Senior Member JohnDoe2's Avatar
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    Central Falls RI files for bankruptcy

    http://www.alipac.us/ftopict-245635.html
    Last edited by JohnDoe2; 06-27-2012 at 07:40 PM.
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  5. #5
    Senior Member JohnDoe2's Avatar
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    Rhode Island City Files For Bankruptcy
    http://www.alipac.us/ftopict-243090.html
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  6. #6
    Senior Member JohnDoe2's Avatar
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    RELATED

    Harrisburg, Pa., City Council Files for Bankruptcy, But Mayor Says Petition Is Illegal

    PA. Capitol Backruptcy Filling Not Legal

    http://www.alipac.us/ftopict-252481.html
    Last edited by JohnDoe2; 06-27-2012 at 07:41 PM.
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    Senior Member JohnDoe2's Avatar
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  8. #8
    Senior Member JohnDoe2's Avatar
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  9. #9
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  10. #10
    Senior Member JohnDoe2's Avatar
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