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TESTIMONIALS

  •   David brought all of his many capabilities to bear in guiding our complex and...

  • I have known Howard several years. He is very knowledgeable, professional and competent in bankruptcy...

  •   David is the first lawyer I call when one of my clients needs bankruptcy-related...

  • Howard is great! He is among the very penultimate best bankruptcy lawyers and bankruptcy trustees...

  • Howard Ehrenberg is an excellent lawyer, great problem solver, has really good people skills and...

  •   David is a consummate professional and one of the most brilliant attorneys I’ve ever...

  • Howard Ehrenberg is an excellent bankruptcy attorney and trustee. He employs his sound business sense...

  • Howard is one of the most respected and experienced bankruptcy attorneys and trustees in the...

  •   David Kupetz is a very effective insolvency lawyer who seeks to find the best...

  • I have worked with Howard on cases going back to the Queen Mary bankruptcy case...

  • I worked with Howard for over a decade and know him well. He is highly...

  • Howard is a well organized, competent, and ethical lawyer. It is a pleasure working with...

  • David is one of the preeminent restructuring attorneys in California. I selected him to prepare...

  • Disposing real estate as part of a bankruptcy liquidation deals with a lot of dynamic...

  • Howard is bright, capable and conscientious. He is detail oriented and attempts to look after...

  • Howard is and always has been extremely professional and regularly accessible and cooperative not only...

  • Few professional instill as much confidence as Howard when it comes to sorting through complex...

  • I have worked with Howard for over 15 years on various matters. He is a...

  • After many years of knowing David Kupetz, I finally had the opportunity to work with...

  •   I’ve known and worked with Howard over the years and have always found him...

  • Howard was my supervising attorney when I worked at Sulmeyer. He has a great work...

  • I have retained David on several occasions to assist us with debtor-creditor matters. David is...

  • I have personally known Howard for over 10 years and we have worked together on...

  • I worked with Howard on the bankruptcy case involving the Queen Mary in Long Beach....

  •   David is an excellent attorney for those landlords needing a value orientated consultant to...

  •   David Kupetz provided a calm, sure and steady hand in coordinating and directing a...

  •   David is one of the most competent and knowledgeable bankruptcy lawyers I have worked...

  •   I have known David for about 5 years and have drawn on his expertise...

  • Howard is an extremely diligent, prudent, honest, and efficient bankruptcy trustee and receiver. I have...

  •   I have worked with David for over 10 years and on over 30 different...

  • David has been a highly effective legal advisor for companies I have represented as financial...

  • I have worked with Howard Ehrenberg on cases going back to the Queen Mary bankruptcy...

  •     I have worked with Howard Ehrenberg for over 15 years on various matters....

  •   I have personally known Howard Ehrenberg for over 10 years and we have worked...

  • While doing a turnaround, we needed bankruptcy counsel and chose SulmeyerKupetz over many others. We...

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Municipal Debt Adjustment

Chapter 9 of the Bankruptcy Code provides a framework for eligible local public entities to restructure debt. It enables municipalities unable to pay its debts as they come due to continue to provide essential services to residents while working out a plan to adjust its debts. To avoid disruption of necessary services, Chapter 9 is intended to facilitate the continuance of insolvent municipalities rather than their dissolution. Similar to Chapter 11 bankruptcy reorganization for nongovernmental entities, two primary benefits of a Chapter 9 filing are:

  • The breathing spell imposed by the automatic stay
  • The ability to adjust creditors’ claims through the plan process

There are fundamental differences, however, between municipal debt adjustment and bankruptcy reorganization of nongovernmental entities. A city, for example, is not a business enterprise operating for a profit. Local public entities exist to provide residents with public services. Unlike a corporation, a municipality has no shareholders, and it may not be completely liquidated, with the proceeds used to pay creditors.

SulmeyerKupetz has substantial experience in municipal debt adjustment matters. Members of the firm have written leading articles published on the subject. SulmeyerKupetz represented the Ventura Port District and Tri-City Mental Health Center in their successful Chapter 9 municipal debt adjustment cases, the Orange County Transportation Authority in connection with the Orange County Chapter 9 case, a group of cities that were creditors in the Chapter 9 case of Desert Hot Springs, and the Town of Mammoth Lakes in out-of-court debt restructuring negotiations. In recent years, SulmeyerKupetz has represented a number of other local public entities in out-of-court negotiations with creditors and the firm has also represented other governmental entities in connection with Chapter 9 cases.

Chapter 9 is to be utilized as a last resort. SulmeyerKupetz is well positioned to assist local public entities in the process that should be followed to maximize the opportunity to resolve financial crises outside of court.

REPRESENTATIVE CASES >>

TESTIMONIALS

  •   David brought all of his many capabilities to bear in guiding our complex and...

  • I have known Howard several years. He is very knowledgeable, professional and competent in bankruptcy...

  •   David is the first lawyer I call when one of my clients needs bankruptcy-related...

  • Howard is great! He is among the very penultimate best bankruptcy lawyers and bankruptcy trustees...

  • Howard Ehrenberg is an excellent lawyer, great problem solver, has really good people skills and...

  •   David is a consummate professional and one of the most brilliant attorneys I’ve ever...

  • Howard Ehrenberg is an excellent bankruptcy attorney and trustee. He employs his sound business sense...

  • Howard is one of the most respected and experienced bankruptcy attorneys and trustees in the...

  •   David Kupetz is a very effective insolvency lawyer who seeks to find the best...

  • I have worked with Howard on cases going back to the Queen Mary bankruptcy case...

  • I worked with Howard for over a decade and know him well. He is highly...

  • Howard is a well organized, competent, and ethical lawyer. It is a pleasure working with...

  • David is one of the preeminent restructuring attorneys in California. I selected him to prepare...

  • Disposing real estate as part of a bankruptcy liquidation deals with a lot of dynamic...

  • Howard is bright, capable and conscientious. He is detail oriented and attempts to look after...

  • Howard is and always has been extremely professional and regularly accessible and cooperative not only...

  • Few professional instill as much confidence as Howard when it comes to sorting through complex...

  • I have worked with Howard for over 15 years on various matters. He is a...

  • After many years of knowing David Kupetz, I finally had the opportunity to work with...

  •   I’ve known and worked with Howard over the years and have always found him...

  • Howard was my supervising attorney when I worked at Sulmeyer. He has a great work...

  • I have retained David on several occasions to assist us with debtor-creditor matters. David is...

  • I have personally known Howard for over 10 years and we have worked together on...

  • I worked with Howard on the bankruptcy case involving the Queen Mary in Long Beach....

  •   David is an excellent attorney for those landlords needing a value orientated consultant to...

  •   David Kupetz provided a calm, sure and steady hand in coordinating and directing a...

  •   David is one of the most competent and knowledgeable bankruptcy lawyers I have worked...

  •   I have known David for about 5 years and have drawn on his expertise...

  • Howard is an extremely diligent, prudent, honest, and efficient bankruptcy trustee and receiver. I have...

  •   I have worked with David for over 10 years and on over 30 different...

  • David has been a highly effective legal advisor for companies I have represented as financial...

  • I have worked with Howard Ehrenberg on cases going back to the Queen Mary bankruptcy...

  •     I have worked with Howard Ehrenberg for over 15 years on various matters....

  •   I have personally known Howard Ehrenberg for over 10 years and we have worked...

  • While doing a turnaround, we needed bankruptcy counsel and chose SulmeyerKupetz over many others. We...

Read More >>