Tag Archives: Michigan law

Business Restructuring Alert: New emergency manager bill passed by Michigan Legislature

Today (December 27, 2012), Governor Snyder signed into law the Local Financial Stability and Choice Act (LFSCA) just days after its introduction in the Michigan House of Representatives and passage by the Michigan Legislature. The LFSCA replaces Public Act 4, the 2011 emergency manager law repealed by voters on November 6, 2012. It provides additional tools to address the numerous municipal financial crises in the State of Michigan.

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