Anderson M. Shackelford
37 Campbell L. Rev. 207 (2015)
ABSTRACT. As the number of municipal bankruptcy filings increases, areas of confusion within the Bankruptcy Code are becoming more apparent. One point of ambiguity is what Chapter 9’s “feasibility” requirement entails. This question is significant because all municipalities must satisfy the feasibility requirement before courts will confirm their bankruptcy plans. This Comment answers that question through an analysis of § 943(b)(7)’s historical roots, and relevant case law, as well as a comparative discussion of Chapter 9 and Chapter 11 standards. Ultimately, this Comment proposes that Congress codify the Mount Carbon decision to provide clarity and predictability for municipalities.
AUTHOR. Anderson M. Shackelford is a law student at Campbell Law School in Raleigh, NC