 "bankruptcy law")
The announcement makes Nottingham the second city to declare financial failure this year.
Nottingham, a city in central England’s Midlands region, on Wednesday declared itself effectively bankrupt after its council failed to deliver a balanced budget for the year.
Nottingham City Council, run by the Opposition Labour Party, issued a Section 114 notice over a “significant gap” in the local authority’s budget even as it stressed that it is not bankrupt and is able to meet its staff salary obligations.
The announcement makes Nottingham the second city to declare financial failure this year after Birmingham City Council issued a similar notice in September.
A report discussed…
