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Law Offices of
Matthew E. Faler
17330 Brookhurst Street, Suite 240
Fountain Valley, CA 92708
Licensed California Attorney
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Chapter 9 Bankruptcy

Chapter 9 bankruptcy allows for municipalities to readjust their debts. While it is similar in some regards to the other chapters of bankruptcy, constitutional restrictions do not allow for the assets of municipality to be liquidated. The largest Chapter 9 Bankruptcy occurred right here in Orange County in when Orange County filed for Bankruptcy in 1994.