This timely book argues that long-term recovery and sustainability for municipalities in financial distress requires a modularly tailored decision-making process, incorporating environmental, social, and governance (ESG) considerations.

Expert authors provide an in-depth comparison of the legal approaches to municipal distress in the United Kingdom, the United States and South Africa, documenting the effectiveness of diverse strategies in different legal and cultural contexts. Examining the extent to which local governments in these jurisdictions are accountable for their financial decisions, the authors analyse the responsibilities of locally elected officials to the public and future generations. They identify and interrogate legal frameworks and mechanisms, drawing on their extensive experience, relevant policy frameworks, and key judicial decisions. Chapters provide a critical assessment of ESG factors in the context of the management and the restructuring of municipalities and outline recommendations for local decision makers, policymakers and regulators worldwide.

This book is beneficial to scholars and students of insolvency law and administrative law and provides a multifaceted view of municipal financial distress. It is also of interest to foreign policymakers, professionals, think-tanks and civil servants seeking a comparative overview of the key features of different approaches to restructuring local entities in distress.

About the Author
Eugenio Vaccari, Senior Lecturer in Law, Royal Holloway, University of London, UK, Laura N. Coordes, Professor of Law, Sandra Day O'Connor College of Law, Arizona State University , US, Yseult Marique, Professor of Law, University of Essex, UK and Geo Quinot, Professor of Law, Stellenbosch University, South Africa

Reviews
'Even though cities around the world face similar problems, local government law scholarship usually focuses on cities in a single country. This excellent book pushes against the field's parochialism, providing a penetrating comparison of how different countries respond when their municipalities go broke. Whether one agrees with its recommendations or not, Municipalities in Financial Distress is an invaluable resource for anyone interested in municipal finance, or in local government more broadly.' -- David Schleicher, Yale University, USA



Book Information
ISBN 9781035319909
Author Eugenio Vaccari
Format Hardback
Page Count 304
Imprint Edward Elgar Publishing Ltd
Publisher Edward Elgar Publishing Ltd