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Municipalities in Financial Distress: An Environmental, Social and Governance Critique

Municipalities in Financial Distress: An Environmental, Social and Governance Critique

Author: Eugenio Vaccari; Laura N. Coordes; Yseult Marique; Geo Quinot
Publisher: Edward Elgar Publishing
ISBN: 9781035319909
Published In: March 2025
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

List Price: HKD 1,495.00

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Description
Contents

Details

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.

Foreword

Introduction to municipalities in financial distress

Theoretical framework

United States of America

South Africa

United Kingdom

A comparative analysis

Conclusion to municipalities in financial distress