Judge Approves Stockton's Bankruptcy PlanA judge has approved a debt plan by Stockton, California, one of the largest U.S. cities to declare bankruptcy, allowing it to reorganize more than $900 million in long-term debt.
Ruling Lets Bankrupt Stockton Cut Pension Benefits U.S. bankruptcy law allows the California city of Stockton to cut pension benefits because it can treat its obligations to the public retirement fund like other debts, a federal judge said in a ruling that could help clarify who gets paid first by financially strapped cities around the nation - pension funds or creditors.
Federal Ruling On Bankruptcy Exit Plan For Stockton Could Happen Soon A federal judge could rule Wednesday on a bankruptcy exit plan for Stockton, the largest city in California to file for Chapter 9 protection.
Creditor Tells Bankruptcy Judge Stockton Is Recovering, Firms Deserve Better SettlementFranklin Templeton Investments attorney James Johnston says it is being offered 1 cent on the dollar for a $35 million loan given to Stockton in 2009 to build firehouses, parks and to move its police dispatch center, amounting to $350,000.
Creditors Say City Of Stockton Didn’t Prioritize Paying Off DebtsStockton city leaders say they city is bankrupt, and if a judge agrees, Stockton will become the largest city in the nation to be granted bankruptcy.
Stockton Heading To Bankruptcy Court MondayAfter years of struggles, Stockton is poised to become the most populous in the nation to enter bankruptcy when its trial begins Monday in federal court.
Creditors Fill Court Room In First Stockton Bankruptcy HearingFriday's hearing lasted under two hours but this process is expected to last several months.
Stockton Bankruptcy Could Prevent Citizen Payout Of $31.5M SettlementIf you look at the list of top 20 creditors that the city of Stockton woes money, at number six you will see The Howard Jarvis Taxpayers Association.
Stockton Files For Chapter 9 Bankruptcy In Sacramento Federal CourtOn Thursday, Stockton filed for Chapter 9 bankruptcy protection with a Sacramento federal court.
Retired Stockton City Employees Set To Lose Health Benefits In BankruptcyThere are 1100 retired Stockton city employees that are set to lose health benefits under a Stockton bankruptcy.
Stockton Bankruptcy May Negatively Affect Housing MarketThe blow to the city's already tarnished reputation may negatively affect the local housing market.