July 13, 2010

Famous Chapter 9 Bankruptcy

A San Jose bankruptcy lawyer makes note of a famous Chapter 9 Bankruptcy

Chapter 9 bankruptcy is only available to municipalities. Since its creation in 1934, there have been several famous Chapter 9 bankruptcy filings. The most recent and famous Chapter 9 bankruptcy was Vallejo, California’s filing in 2008. Vallejo was faced with decreasing tax revenue, rising pension costs, and strong public-employee unions. Two years later, Vallejo is now emerging from its bankruptcy, unfortunately not much stronger than its pre-filing status.
Other famous Chapter 9 bankruptcies include Orange County, California in 1994 and Desert Hot Springs in California due to lousing a housing discrimination lawsuit. Prichard, Alabama is another famous Chapter 9 bankruptcy premised upon its inability to fund its pension plans. Topping the list of weird famous Chapter 9 bankruptcy filings would include Moffett, Oklahoma, which was forced to file for Chapter 9 bankruptcy due to its inability to issue or enforce traffic tickets.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

Posted by Scott Sagaria | | Email This Post | Comments (0)

Posted In: Chapter 9

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