Just wondering once a government (a county or state) declare Chapter 9
bankruptcy, how do they reorganize? What happen to the debts before?
I***e 发帖数: 1136
2
http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter9.html
I guess there must be a court appointed committee overseeing the payment of
debt and proper functioning of the goverment agencies... Some security
holders will lose their investment, and some people will lose jobs... same
thing when a corporation files for bankrupcy.
-iCare-
