Can New York school districts file for bankruptcy? 1 Answers as of February 03, 2011

With the anticipated deficit coming in NY, bankruptcy may be a better alternative then a 15% tax Increase. Can it be done?

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Law Office of Raymond J. Dague, PLLC
Law Office of Raymond J. Dague, PLLC | Raymond J. Dague
Yup. There is a provision in the federal bankruptcy code for municipal corporations such as school districts to file for bankruptcy. We may see more of these as public financing gets tougher.
Answer Applies to: New York
Replied: 2/3/2011
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