Research Network on Public Authorities and Financial Distress

The Research Network on Public Authorities and Financial Distress (RPAFD) is a multi-disciplinary, multi-sectorial network of more than 60 academics and practitioners, lawyers, economists, accountants and experts from other disciplines based all over the world with a common interest on local authorities in financial distress. RPAFD promotes the development of comparative and iterative research based on concrete case studies. Its goal is to suggest policy recommendations to alleviate the consequences of financial distress for local communities. Generally accepted and/or acceptable principles will inform these policy recommendations and will provide guidance to govern the treatment of local authorities experiencing some form of financial pressure and/or distress.

The overall aim of this network is to develop principled recommendations that account for the political and societal implications of the financial distress of a local authority on local, regional and national stakeholders. Its ultimate goal is to design an insolvency and restructuring framework to ensure public money is spent for the benefit of vulnerable stakeholders at a local level and to promote sustainable development (i.e. mitigating climate change).