Fordham Law Review Volume 83 Volume 83 Issue 5 Volume 83, Issue 5 Article 19 2015 Time for an Update: A New Framework for Evaluating Chapter 9 Bankruptcies Michael J. Deitch Fordham University School of Law Follow this and additional works at: https://ir.lawnet.fordham.edu/flr Part of the Bankruptcy Law Commons, and the State and Local Government Law Commons Recommended Citation Michael J. Deitch, Time for an Update: A New Framework for Evaluating Chapter 9 Bankruptcies, 83 Fordham L. Rev. 2705 (2015). Available at: https://ir.lawnet.fordham.edu/flr/vol83/iss5/19 This Note is brought to you for free and open access by FLASH: The Fordham Law Archive of Scholarship and History. It has been accepted for inclusion in Fordham Law Review by an authorized editor of FLASH: The Fordham Law Archive of Scholarship and History. For more information, please contact
[email protected]. NOTES TIME FOR AN UPDATE: A NEW FRAMEWORK FOR EVALUATING CHAPTER 9 BANKRUPTCIES Michael J. Deitch* Municipal bankruptcies have been making national news since the “Great Recession.” Municipalities like Stockton, Vallejo, and Jefferson County gained notoriety for the record scale of their bankruptcy filings, only to be surpassed by Detroit shortly thereafter as the largest and most populous municipal bankruptcy filing. Historically, municipal bankruptcy occurred infrequently, leaving the nuances of many critical issues, including insolvency, asset utilization, and good faith, unexplored in case law. For example, how should a bankruptcy court analyze Detroit’s city-