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Cities In Distress: A Tale Of 3 California Bankruptcies

Law360 (July 12, 2018, 1:41 PM EDT) -- Five years after the city of Detroit filed for Chapter 9 bankruptcy on July 18, 2013, experts look at the financial troubles of a few other U.S. cities in this special series.

Karol Denniston California has no real oversight, supervision or support for its troubled municipalities. Gov. Jerry Brown has said on repeated occasions that municipalities “should solve their own problems.” The Chapter 9 bankruptcies of Vallejo, San Bernardino and Stockton have left a legacy of challenges facing municipalities that seek to restructure their obligations in a bankruptcy proceeding....
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