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The last instance of such a default took place during the Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [1] Current U.S. bankruptcy law, an area governed by federal law, does not allow a state to file for bankruptcy under the Bankruptcy Code. [2]
As a result, PG&E filed bankruptcy, and Southern California Edison worked diligently on a workout plan with the State of California to save their company from the same fate. [ 36 ] According to a 2007 study of Department of Energy data by Power in the Public Interest, retail electricity prices rose much more from 1999 to 2007 in states that ...
In December 2010, Washington Park briefly emerged from bankruptcy and then filed a new petition for bankruptcy which was rejected by the judge, who stated there was no Illinois state law enabling a municipality to file a Chapter 9 bankruptcy petition. Denied by courts [59] [60] Las Vegas Monorail Company, Las Vegas Private company 2010
In conjunction with its filing for bankruptcy, Vintage has filed a notice for mass layoffs with California authorities after already cutting its workforce by at least 15% earlier this year and 7% ...
Beverly Hospital files for bankruptcy, a step that hospital officials say was needed to avoid a potential closure of the Montebello facility. ... (State law gives the attorney general oversight ...
Popular fish taco chain Rubio's closes 48 California locations and files for bankruptcy, citing rising costs and 'significant increases' to minimum wage Jing Pan June 14, 2024 at 7:26 AM
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