The village government of this impoverished community had it tough already before a strip club beat back a five-digit license fee and two public workers walked off with more than $444,000.You'll be hearing more of these stories. Check out who some of their creditors are.
Facing mounting debts owed to trash collectors, retirement funds and even one of its topless nightclubs, Washington Park has filed for bankruptcy protection for a second time this decade.
The move — rare among municipalities — is intended to provide a chance to reorganize. The Chapter 9 case, filed July 6 in U.S. Bankruptcy Court in East St. Louis, seeks legal protection from creditors while the village develops and negotiates a plan for adjusting its debts.
Washington Park made a similar filing in 2004 that was later dismissed.
Friday, July 31, 2009
The Town of Washington Park, IL Declares Bankrupcty Under Chapter 9
The St. Louis Dispatch reports:
