Chester, Pennsylvania, a city just outside of Philadelphia, filed for Chapter 9 bankruptcy in the Eastern District of Pennsylvania Court.
petitionfiled Thursday by Michael Doweary, who was appointed receiver of the city in 2020, listed estimated liabilities of as much as $500 million
- Chester is seeking to close its projected $46.5 million deficit driven by retirement obligations
- The city owes $53.9 million in pension contributions, enough to consume 88% of its budget, according to documents obtained by the receiver’s office
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