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The negotiation model there is on steroids except nobody really quite knows the boundaries.

Federal bankruptcy judge Christopher Klein, on the uncertainty of Chapter 9 because judges have less authority than in Chapter 11 cases and there’s so little precedent for cities filing for bankruptcy protection that case law is being written with each major decision.

Federal bankruptcy judge Christopher Klein, on the uncertainty of Chapter 9 because judges have less authority than in Chapter 11 cases and there’s so little precedent for cities filing for bankruptcy protection that case law is being written with each major decision.

Caroline Cournoyer is GOVERNING's senior web editor.
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