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07-10-2011, 12:32 PM #1Senior Member
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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/?apLast edited by JohnDoe2; 07-18-2013 at 08:46 PM.
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07-10-2011, 12:34 PM #2Senior Member
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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.)NO AMNESTY
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07-30-2011, 09:33 PM #3Senior Member
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RELATED
Jefferson County AL. bankruptcy would top $4.1 billion
http://www.alipac.us/ftopict-245510.htmlLast edited by JohnDoe2; 06-27-2012 at 07:40 PM.
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08-01-2011, 05:24 PM #4Senior Member
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Central Falls RI files for bankruptcy
http://www.alipac.us/ftopict-245635.htmlLast edited by JohnDoe2; 06-27-2012 at 07:40 PM.
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08-04-2011, 01:00 PM #5Senior Member
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Rhode Island City Files For Bankruptcy
http://www.alipac.us/ftopict-243090.htmlNO AMNESTY
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10-12-2011, 07:17 PM #6Senior Member
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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.htmlLast edited by JohnDoe2; 06-27-2012 at 07:41 PM.
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06-27-2012, 07:41 PM #7Senior Member
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07-12-2012, 12:43 AM #8Senior Member
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07-12-2012, 12:45 AM #9Senior Member
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07-12-2012, 08:19 PM #10Senior Member
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