Research Network on Public Authorities and Financial Distress (RPAFD)

🌆 Can a Municipal Insolvency Framework Help India’s Urban Development? India’s urbanisation is outpacing its infrastructure capacity, leaving municipalities grappling with dwindling revenues & borrowing restrictions. In an article published on NUALS Law Journal and summarised on our website, Devendra Mehta explores a potential solution: a municipal insolvency law. 📜 Key insights include: - Aligning with the Constitution of India 🏛️ - Balancing public interest & creditor rights ⚖️ - Drawing lessons from corporate insolvency law 🏗️ Read the full article here 👉 https://lnkd.in/eqGS-42G #UrbanDevelopment #India #MunicipalLaw #Insolvency #Infrastructure #PPP #SmartCities

🚨 New Post Alert: English Devolution White Paper 🚨 The recently published English Devolution White Paper offers a bold vision for reshaping local governance and tackling financial challenges faced by councils. Dr Eugenio Vaccari Royal Holloway, University of London analyses this White Paper in a post for our website. Here’s a quick breakdown: 🏙 Streamlining Local Government: Moving from two-tier councils to single-tier unitary authorities serving 500,000+ populations for efficiency and better service delivery. 🏗 Empowered Mayors: Expanding powers over infrastructure, housing, and transportation to drive local economic growth and reduce inequalities. 💰 Financial Resilience: Integrated funding settlements and reforms to boost local government financial stability and accountability. 🚦 Strategic Authorities: Consolidating councils into larger units with mayors leading on housing and transport strategies. 📊 Audit Reform: Transforming financial oversight with streamlined accountability mechanisms. 💡 While these proposals promise efficiency and growth, challenges remain: - Limited fiscal devolution opportunities. - High upfront costs for council mergers. - Uncertain accountability structures. 👉 A critical moment for #LocalGovernment and #Devolution in England. What are your thoughts on these changes? 🌍💼 #EnglishDevolution #Policy #LocalAuthorities #Governance #Innovation https://lnkd.in/eQA6iAy4

Inter-municipal Corporations in Belgium: A Ticking Time Bomb? 💣 Belgium's inter-municipal corporations, responsible for vital services like water supply and sewer management, are facing a severe financial crisis. A recent article by Marie DeCock (Hasselt University) explores the significant issues experienced by Belgium's inter-municipal corporations: (1) Soaring Debt: Companies like Vivaqua are burdened with significant debt. 💸 (2) Aging Infrastructure: Decrepit infrastructure requires substantial investment. 🏗️ (3) Mounting Costs: Rising operational costs and EU regulations further strain finances. 📈 (4) Governance Challenges: Complex legal structures hinder effective oversight. ⚖️ Marie concludes that to address these issues and ensure the sustainability of these essential services, fundamental reforms are necessary. Read the full article here: [https://lnkd.in/epryiKpz] #Belgium #intermunicipalcorporations #watermanagement #sewers #publicfinance #governance #EU #BlueDeal #financialcrisis

📢 New Article Alert: Managing Municipal Assets in Challenging Times Municipal property management is crucial for local governance, but it’s not without its challenges—especially when financial distress strikes. 🏢⚖️ In a deep dive into the Protvino case, Dmitry Konstantinov (Partner, ZKP Group) explores legal and financial disputes over public property allocation, municipal enterprise insolvency, and the role of fraudulence claims. The case, culminating in a Supreme Court ruling, sheds light on the balancing act between public interests and operational autonomy in Russia. This article unpacks key lessons for navigating municipal asset disputes in financially strained environments. Read more: https://lnkd.in/e3RZZuTc #MunicipalLaw #Governance #FinancialDistress #Insolvency #PublicAssets

🌟 Join us for an insightful virtual discussion! 🌟 📅 Date: 3 December 2024 🕒 Time: 3 PM GMT We’re excited to host Prof. Geo Quinot (Stellenbosch University) in conversation with Prof. @Clayton Gillette (Max E. Greenberg Professor of Contract Law, New York University School of Law). Together, they’ll delve into: 🔍 Local stakeholders in municipal financial distress ⚖️ The relationship between financial distress and democracy This session promises to provide valuable perspectives on how financial challenges at the municipal level intersect with governance and democratic principles. 💻 https://lnkd.in/dg8QTy2M Meeting ID: 961 5740 5641 Virtual event — open to all! Don't miss this opportunity to learn from leading experts in the field of public finance and law. 👉 Save the date and join the conversation! #MunicipalFinance #Democracy #FinancialDistress #Governance #PublicPolicy #LawAndEconomics

🔍 Examining Financial Vulnerability in Local Governments During COVID-19 In his latest publication, Prof. Emanuele Padovani (University of Bologna) explores the financial vulnerabilities that local governments (LGs) worldwide faced during the COVID-19 pandemic. Drawing from research published in Financial Accountability and Management, this study delves into the complex financial strains on LGs and offers a comprehensive framework to assess resilience across various governance systems. The study analyzes how factors like administrative structure, financial autonomy, and cultural attitudes toward uncertainty impacted the ability of LGs to respond to the pandemic. It also highlights the different interventions deployed across countries, from fiscal rule relaxations to financial assistance, and how these influenced LGs’ resilience. 📌 Key takeaways include: - Income Autonomy as a Buffer: LGs with greater control over their revenues experienced lower financial vulnerability. - The Role of Administrative Traditions: Countries with established “rule of law” systems adapted more flexibly to meet local fiscal challenges. - Cultural Coping Capacities: Societies with long-term orientations and adaptability were better equipped for crisis management. Prof. Padovani’s work underscores the importance of multi-faceted policy support to bolster LG financial resilience, especially as we look toward future global crises. This research provides valuable insights for policymakers and local authorities seeking to strengthen their financial stability. Read the full article for an in-depth perspective on building financial resilience in local governance: https://lnkd.in/euF_2da5 #LocalGovernment #FinancialResilience #COVID19 #PublicFinance #FiscalPolicy #LocalGovernance #UniversityofBologna #Research

🔍 One Year After: Birmingham’s Path to Financial Recovery and Ongoing Challenges In his latest article, Dr. Eugenio Vaccari delves into Birmingham City Council’s financial crisis and what it reveals about the limitations of English law in managing local government distress. Unlike corporate insolvency, councils lack mechanisms to restructure or negotiate debt, relying instead on measures like the section 114 notice. Birmingham’s case brings to light the need for a new framework to address unique challenges faced by local authorities, balancing fiscal discipline with flexibility to manage long-term liabilities. For insights into Birmingham’s journey and the potential reforms that could prevent similar crises, read the full article here: https://lnkd.in/e_RzRmdf #FinancialDistress #PublicFinance #LocalGovernment #Recovery #InsolvencyLaw

🔍 Exploring Financial Rescue for UK Universities in Crisis In his latest article, Dr. Eugenio Vaccari examines whether a Special Administration Regime (#SAR)—successful in sectors like banking and energy—could stabilize financially distressed #UK universities. Amid frozen tuition fees, inflation, and reduced international enrollments, UK universities face mounting challenges. However, Vaccari questions whether SARs might undermine the educational mission of these institutions and advocates for alternatives such as strategic alliances and enhanced governance. For insights into this vital issue and the potential paths forward, read the full article here: https://lnkd.in/eAwDjtkg #FinancialDistress #Recovery #Rescue