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Bankruptcy for Illinois comes up again: some background - Quicktake

JUNE 12, 2018 | by Mark Glennon | WIREPOINTS ILLINOIS NEWS

“… Bankruptcy-for-states would require federal legislation signed by the president. Currently, the United States Bankruptcy Code only authorizes government bankruptcy for municipalities in states that have allowed it. … Debate about it, mostly behind the scenes, has focused heavily on two concepts. …” 

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