Government
Jun. 8, 2012
Stockton readies for possible bankruptcy
Stockton moved one step closer Tuesday to filing for bankruptcy, after officials Tuesday authorized the city manager to file for Chapter 9 if ongoing mediation talks with creditors fail.
Daily Journal Staff Writer
Stockton moved one step closer Tuesday to filing for bankruptcy when officials authorized the city manager to file for Chapter 9 if ongoing mediation talks with creditors fail.
If that happens, Stockton would become the largest U.S. city to file for bankruptcy. The prospect has cities and counties across the country monitoring Stockton's next steps closely.
Stockton is one of several ci...
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