Derek Baker of Reed Smith. Courtesy photo City Meets All Statutory Criteria—Including Prepetition Planning/Negotiations—to Justify Chapter 9 Petition
The opinion thoroughly analyzes each of the statutory elements for eligibility—in light of a substantial history/record—to conclude that the city met the requisite eligibility and that its filing was in "good faith."
March 29, 2023 at 11:39 AM
4 minute read
In a thorough and well-written decision, the U.S. Bankruptcy Court for the Eastern District of Pennsylvania analyzed the eligibility of the city of Chester, In re City of Chester, No. 22-13032 (Bankr. E.D. Pa. Mar 14, 2023) (Chan, U.S.B.J.), to file for protection under Chapter 9 of the Bankruptcy Code. The opinion thoroughly analyzes each of the statutory elements for eligibility—in light of a substantial history/record—to conclude that the city met the requisite eligibility and that its filing was in "good faith."
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