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    Karen Grande Discusses Municipal Chapter 9 Cases in The Bond Buyer Video

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    Karen Grande, a public finance partner in Edwards Wildman’s Providence office, was featured in video entitled “Bankruptcy Aftermath” from The Bond Buyer. In the segment, Grande examined municipalities that file Chapter 9 including Detroit, California and Central Falls, RI. She commented, “The most interesting legal precedent that came out of Detroit is that the judge ruled that pensions do not necessarily have to take priority over obligations to bond holders.” Grande also discussed how pensions and bond holders were treated in a very disparate fashions by the debtor, and that attorneys learned from the Detroit case that in municipal bankruptcy, the debtor can consider other factors besides percentages of return on assets.

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