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That new Management included appointment of a brand new CEO and three independent administrators to your board, pursuant to written consents drafted by Paul Hastings, the criticism explained.
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Dustin Burrows, a Lubbock Republican who authored the regulation, wrote in a very tweet Monday. “I have assurance this bill will grow to be regulation, and support assure Texas’ financial state thrives for foreseeable future generations.”
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Leaders of community governments across the point out criticized the proposal as a huge ability grab that would bankruptcy law upend how the condition has operated for just about a century and forestall them from responding to nearby wants. Underneath the new condition regulation, towns and counties couldn't go local guidelines that touch on broad “fields” regulated by condition regulation — like labor, agriculture, finance and purely natural assets.