Stockton CA

Apr 032013
 

By TRACIE CONE Associated Press, 04/02/2013 , San Jose Mercury News SACRAMENTO, Calif.—On its first official day in bankruptcy, the city of Stockton now must grapple with the hard part of reorganizing its financial affairs—how to share the financial burden equitably among creditors while meeting its massive state pension obligations.At the conclusion of a three-day […]

 April 3, 2013  Posted by at 1:44 am Uncategorized Tagged with: , , ,  No Responses »
Apr 032013
 

By Tim Reid, Reuters, LOS ANGELES | Tue Apr 2, 2013 (Reuters) – Stockton and San Bernardino, the two California cities that have filed for bankruptcy protection, are both considered test cases in the epic battle over whether municipal bondholders or pensioners will absorb most of the pain when a government goes broke. A federal […]

 April 3, 2013  Posted by at 1:36 am Uncategorized Tagged with: , ,  No Responses »
Apr 032013
 

By Jared Goyette, David McLaughlin & Steven Church – Apr 2, 2013, Bloomberg News Stockton, California, the biggest U.S. city to file for bankruptcy, won a judge’s permission to stay under court protection after he found that creditors didn’t negotiate in good faith with the city. U.S. Bankruptcy Judge Christopher M. Klein in Sacramento rejected […]

 April 3, 2013  Posted by at 1:11 am Uncategorized Tagged with: , , ,  No Responses »
Apr 032013
 

By Steven Greenhut, Apr 2, 2013, Bloomberg News By allowing the bankruptcy of Stockton, California, to proceed over its creditors’ objections, a judge on Monday skirted the issue that must soon be addressed in the state: whether the overly generous pension benefits promised to public employees in good economic times can be reduced when cities […]

 April 3, 2013  Posted by at 12:50 am Uncategorized Tagged with: , , ,  No Responses »
Mar 282013
 
 Stockton Creditors Dispute City’s Insolvency at Trial

By Steven Church & Jared Goyette – Mar 25, 2013, Bloomberg News Stockton, California, creditors asked a judge to end its bankruptcy case, saying at the start of a four-day trial that the city should cut excessive employee pay and pension benefits before seeking court protection. Creditors such as Assured Guaranty Corp. and Franklin Resources […]

 March 28, 2013  Posted by at 2:56 am Uncategorized Tagged with: , , ,  No Responses »
Mar 232013
 

By Steven Church – Mar 20, 2013, Bloomberg News The judge who will decide whether Stockton (3654MF), California, can remain in bankruptcy rejected two reports about the city’s finances by experts hired by creditors, saying they won’t help him in a trial that starts next week. U.S. Bankruptcy Judge Christopher M. Klein in Sacramento, California, […]

 March 23, 2013  Posted by at 3:28 am Uncategorized Tagged with: , , , ,  No Responses »