When Worlds Collide

Until recently, the public finance world simply did not experience significant defaults. Until now. A look at recent litigation.

28 minute read April 26, 2013 at 09:38 AM
By
Karen Grande, John Whitlock, Steven B. Smith And Theodore Orson
When Worlds Collide

It is unlikely that when Philip Wylie and Edwin Balmer co-authored “When Worlds Collide” 80 years ago, they were envisioning the growing wave of distressed municipalities and publicly financed projects, and the resulting collision between two heretofore separate and distinct worlds: that of public finance (where collection was simply not much of a consideration) and the insolvency world (where collection is the primary consideration).

This premium content is locked for The Bankruptcy Strategist subscribers only

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN The Bankruptcy Strategist

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

Already have an account? Sign In Now

For enterprise-wide or corporate access, please contact Customer Service at [email protected] or call 1-877-256-2473.

NOT FOR REPRINT

© 2026 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Continue Reading

Law firms are shifting toward financing strategies that allow them to invest in growth while increasing flexibility, liquidity and long-term planning discipline. The conversation is no longer simply about acquiring equipment. It is about building a financial structure that supports continuous operational growth.

July 02, 2026

Why advanced AI will change legal practice without making lawyers obsolete.The future value of lawyers will come less from generating first drafts and more from knowing how to choose, feed, test and deploy professional systems in a way that serves the client’s strategy.

June 30, 2026

Companies are no longer judging leaders on what they have already done. They are judging them on whether they can lead what is coming next. And what is coming next demands exactly the quality that defined the Oregon Trail generation: the ability to navigate genuine transformation, not just manage through disruption.

June 30, 2026