Vallejo, Calif., Files Ch. 9 Plan

Law360, New York (January 19, 2011, 6:58 PM EST) -- The city of Vallejo, Calif., has filed a plan of adjustment proposing an exit from Chapter 9 bankruptcy that provides its unsecured creditors with a payout of about 5 to 20 percent of their claims.

The debtor filed its plan Tuesday in the U.S. Bankruptcy Court for the Eastern District of California along with a notice encouraging parties who might wish to suggest changes to contact the city in order to enable it to file an amended plan in advance of a March 7 approval hearing....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.