Web30 apr. 2024 · State bankruptcy might look like a municipal bankruptcy. In 2024 Puerto Rico initiated a form of municipal bankruptcy to restructure about $120 billion of liabilities and debt. Congress passed a law that resulted in the island’s finances being taken over by a fiscal control board , which was aiming to finish its work by the end of 2024. Web8 jul. 2024 · Chapter 11 is a long, drawn-out process. There have been companies that have languished in Chapter 11 for years, but a bankruptcy case does not need to drag on endlessly. In fact, Chapter 11 cases can wrap up in as little as 24 hours. In 2024, Sungard Availability Services emerged from bankruptcy a mere 19 hours after its case was filed.
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