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	<title>The Public Purse &#187; Prichard Alabama</title>
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		<title>Prichard files Chapter 9</title>
		<link>http://www.thepublicpurse.com/2009/10/28/prichard-files-chapter-9/</link>
		<comments>http://www.thepublicpurse.com/2009/10/28/prichard-files-chapter-9/#comments</comments>
		<pubDate>Wed, 28 Oct 2009 23:33:16 +0000</pubDate>
		<dc:creator>Natalie Cohen</dc:creator>
				<category><![CDATA[bankruptcy and default]]></category>
		<category><![CDATA[Chapter 9]]></category>
		<category><![CDATA[municipal bankruptcy]]></category>
		<category><![CDATA[Prichard Alabama]]></category>

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		<description><![CDATA[This is a follow-up to the earlier post on October 14 about Prichard, Alabama when the city failed to make the October payment to their retirees.  According to the Press-Register city leaders do not expect to pay November either.  To protect themselves from the lawsuit that ensued they filed Chapter 9 (municipal) bankruptcy yesterday.  (Note to the municipal bond [...]]]></description>
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		<slash:comments>2</slash:comments>
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		<title>Prichard, Alabama fails to pay retirees</title>
		<link>http://www.thepublicpurse.com/2009/10/14/prichard-alabama-fails-to-pay-retirees/</link>
		<comments>http://www.thepublicpurse.com/2009/10/14/prichard-alabama-fails-to-pay-retirees/#comments</comments>
		<pubDate>Wed, 14 Oct 2009 12:53:51 +0000</pubDate>
		<dc:creator>Natalie Cohen</dc:creator>
				<category><![CDATA[bankruptcy and default]]></category>
		<category><![CDATA[bond insurance]]></category>
		<category><![CDATA[Chapter 9]]></category>
		<category><![CDATA[municipal bond default]]></category>
		<category><![CDATA[Prichard Alabama]]></category>

		<guid isPermaLink="false">http://www.thepublicpurse.com/?p=270</guid>
		<description><![CDATA[The check is not in the mail.  Prichard, Alabama, came out of Chapter 9 bankruptcy in 2002 and promised to make deposits into its public pension fund.  They didn’t and now they are simply out of money.  Retirees did not get their October 1 payment.    What’s next?  The retirees are suing.  The city is looking [...]]]></description>
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		<slash:comments>1</slash:comments>
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		<title>The Next Municipal Bankruptcy?</title>
		<link>http://www.thepublicpurse.com/2009/06/20/the-next-municipal-bankruptcy/</link>
		<comments>http://www.thepublicpurse.com/2009/06/20/the-next-municipal-bankruptcy/#comments</comments>
		<pubDate>Sun, 21 Jun 2009 01:42:21 +0000</pubDate>
		<dc:creator>thepublicpurse</dc:creator>
				<category><![CDATA[bankruptcy and default]]></category>
		<category><![CDATA[Chapter 9]]></category>
		<category><![CDATA[municipal bankruptcy]]></category>
		<category><![CDATA[municipal bonds]]></category>
		<category><![CDATA[Prichard Alabama]]></category>

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		<description><![CDATA[Prichard, Alabama, town of about 25,000, outside of Mobile, filed Chapter 9 bankruptcy in 1999 and finally exited in 2002. They look poised for a second round. Their issues seem similar to Vallejo, California – they cannot afford to continue paying their retiree pensions and could run out of money in the next month. We [...]]]></description>
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