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State bankruptcies may still be a long shot, but Big Law is ready

MAY 11, 2020 | by Samantha Stokes | THE AMERICAN LAWYER

By Samantha Stokes, includes “… States can’t file for bankruptcy under the current bankruptcy code. But after Kentucky Sen. Mitch McConnell said that some struggling states may have to consider a Chapter 9 filing instead of counting on a federal bailout—remarks that were rebuked as overtly partisan by lawmakers on both sides of the aisle—restructuring attorneys have nevertheless been gaming potential scenarios. …”

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