The Yale Law Journal

David A. Skeel, Jr.

Article

Governance Reform and the Judicial Role in Municipal Bankruptcy

Clayton P. Gillette & David A. Skeel, Jr.

Recent proceedings involving large municipalities such as Detroit, Stockton, and Vallejo illustrate both the utility and limitations of using the Bankruptcy Code to adjust municipal debt. In this Article, we contend that, to resolve fully the distress of a substantial city, mun…