Each year in Illinois, increasing pension obligations are consuming more of its taxpayers’ dollars, pushing cities and towns to cut core services and raise property taxes just to keep up with the ...
A state hasn't gone bankrupt since the Great Depression. The specter of another economic depression has revived the once far-fetched idea. Illinois' fiscal plight makes it a top candidate, but how ...
Whether a dispute that is subject to arbitration can or must be referred to arbitration after one of the parties to a prepetition arbitration agreement files for bankruptcy has long been a source of ...
In In re: Hitz Restaurant Group 1, the United States Bankruptcy Court for the Northern District of Illinois became the first court in the country to find that a force majeure clause excused ...
Illinois residents may feel some solidarity with the likes of Puerto Rico and Detroit. A financial crunch is spiraling into a serious problem for Illinois lawmakers, prompting some observers to wonder ...
Several Illinois Red Lobster restaurants will close in coming days as the company continues restructuring during ongoing bankruptcy proceedings. According to court documents filed in U.S. Bankruptcy ...
The city of Harvey is a small place, but its recent pursuit of last-ditch, state financial aid proffers a huge question: Why can’t financially strapped Illinois municipalities with scant hope of ...
The United States Trustee Office has appointed a three-member Unsecured Creditors Committee to provide a voice for unsecured creditors in the Hawthorne Race Course bankruptcy proceedings. Jack ...
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