Federal Bankruptcy Code likes to play the odds — Chapter 7, Chapter 9, Chapter 11 and Chapter 13 are the biggies. (cnbc.com)
But, the federal bankruptcy code, like the constitution itself, is a living, breathing document — able to be amended like it has been 27 times before. (cnbc.com)
This possibility raises the question of whether we should amend the Federal Bankruptcy Code to allow states to file for relief under Chapter 9, like municipalities, counties and other subsidiary governmental entities can already do. (dealbook.nytimes.com)