April 01, 2013
A California federal judge on Monday ruled that creditors couldn't stop the city of Stockton from seeking Chapter 9 relief, saying bond insurers didn't negotiate in good faith, green-lighting the city for one of the largest-ever U.S. municipal bankruptcies.
March 28, 2013
A California federal judge is expected to rule Monday on whether creditors can stop Stockton from seeking Chapter 9 relief in what would be the largest-ever U.S. municipal bankruptcy, and attorneys say a decision blocking the bankruptcy would make it harder for distressed municipalities to meet eligibility standards and keep many from seeking Chapter 9 in the first place.
August 23, 2012
A California bankruptcy judge on Thursday called on the Oregon judge who recently guided Mammoth Lakes, Calif., to a settlement of the suit that sent it into bankruptcy to mediate talks between the city of Stockton and its creditors, saying an eligibility trial could be months away.
August 09, 2012
Two municipal bond insurers on Wednesday urged a California bankruptcy judge to throw out Stockton, Calif.'s Chapter 9 proceedings, insisting that the city is favoring the state pension system by not asking for significant concessions that it's seeking from other creditors.
August 01, 2012
Assured Guaranty Ltd. said Wednesday that bankrupt Stockton, Calif., is unfairly targeting the municipal bond insurer by asking it to take a $100 million loss on the city's Assured-backed pension bonds rather than tackle pension reform.
July 23, 2012
Aside from tentative agreements with a few city unions, fiscally troubled Stockton, Calif.'s state law-mandated prebankruptcy mediation yielded no deals with creditors, some of whom argue the city never intended to avoid bankruptcy, according to papers the city filed Friday.