Chester receiver provides update on bankruptcy, legal entanglements

Dated: September 29 2023

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As the City of Chester continues a bankruptcy process meant to eventually stabilize it, the city’s court-appointed receiver, Michael Doweary, gave an update, and also warned about adding industrial projects that could potentially handcuff city finances and residents’ health. Doweary’s office warned that the bankruptcy process, which faces legal challenges, should move forward, as should attempts to gather more financial information to determine what Chester needs. “Just on our baseline projections, there’s a structural deficit of $15 million a year,” Doweary said. In November, Doweary filed for Chapter 9 bankruptcy for the city in U.S. Bankruptcy Court for the Eastern District of Pennsylvania as a way to move the city toward financial solvency. The process could be lengthy, and mediation is ongoing. Read more here.
Source: Daily Times; 8/29/2023

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Pete McGuinn

Pete McGuinn - Your Trusted RE/MAX Main Line Real Estate Expert With over 22 years of experience as a full-time REALTOR® at RE/MAX Main Line, Pete McGuinn is a distinguished real estate professional....

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