Stockton Bankruptcy — A Battle With No Winners?

Law360, New York (July 16, 2013, 5:34 PM ET) -- About an hour outside of San Francisco, centered in Stockton, Calif., the stage is set for a monumental battle between municipal bondholders and the California Public Employees' Retirement System.

On July 28, 2012, due in large part to its staggering pension obligations, the city of Stockton filed its voluntary Chapter 9 petition in the U.S. Bankruptcy Court for the Eastern District of California. Nearly a year later, on April 1, 2013, over the strong objections of its municipal bondholder creditors, U.S. Bankruptcy Judge Christopher Klein ruled...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required