by Eugenio Vaccari | Sep 8, 2025 | Bankruptcy, Belgium, Financial distress, Local authorities, Local government, Local public entities
On June 9, 2024, Belgium held regional elections that left the Brussels Region in a state of profound political paralysis. More than a year later, the Region remains without a functioning government, trapped in a feedback loop of political deadlock and fiscal...
by rpafdaccess | Mar 25, 2025 | Bankruptcy, Climate Change, Environmental claims, Insurance, Local authorities, Local public entities
On January 7, 2025, Los Angeles faced one of the most devastating wildfires in recent history, driven by intense Santa Ana winds. The destruction was staggering: 29 lives lost, more than 16,000 buildings reduced to ashes, and over 37,000 acres scorched. In the...
by Laura Coordes | Feb 23, 2025 | Bankruptcy, Continuity of public services, Local authorities, Local public entities
According to a recent news report, the Puerto Rico Electric Power Authority (known as Prepa), which has been in bankruptcy proceedings since 2017, is now seeking help from the Puerto Rican government—specifically, the use of commonwealth funds—to repay its creditors....
by Emanuele Padovani | Nov 11, 2024 | Bankruptcy, Covid-19, Financial distress, Local government, Local public entities
Local governments (LGs) worldwide faced profound financial challenges due to the COVID-19 pandemic, which exposed vulnerabilities in their fiscal structures and governance. As primary providers of essential services, LGs experienced significant fiscal strain due to...
by Eugenio Vaccari | Nov 4, 2024 | Bankruptcy, Insolvency, Local authorities, Local public entities, UK
In English law, local authorities facing financial distress are subject to unique legal requirements aimed at preventing insolvency, contrasting sharply with corporate insolvency procedures. Local councils must legally maintain balanced budgets under the Local...
by Eugenio Vaccari | Oct 28, 2024 | Bankruptcy, Higher Education, Insolvency, News, special administration regime, UK
In light of Labour’s recent victory, the financial stability of UK universities is gaining heightened attention. With inflation driving up costs while tuition fees remain frozen, UK universities are grappling with severe financial challenges, particularly as...
