Detroit’s bankruptcy: the uncharted waters of Chapter 9

Gene Amromin and Benjamin Chabot

Chicago Fed Letter, 2013, issue Nov, No 316

Abstract: On July 18, 2013, Detroit became the largest municipality to seek protection under Chapter 9 of the U.S. Bankruptcy Code. This article describes several ways in which Detroit?s bankruptcy filing has the potential to alter some of the key assumptions of municipal bond (muni) finance, and examines the market reaction to date.

Keywords: Bankruptcy (search for similar items in EconPapers)
Date: 2013
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