Bankruptcy
Nov. 5, 2014
Legal tab in Stockton bankruptcy proceedings exceeds $14M
Orrick, Herrington & Sutcliffe LLP's portion of the legal fees, as of May, amounted to roughly $10.5 million for its services preparing for and fighting the city's bankruptcy battle. The total amount billed isn't yet known.
Daily Journal Staff Writer
As U.S. Bankruptcy Judge Christopher Klein approved Stockton's debt restructuring plan last week, he said no one "should think Chapter 9 is an easy or inexpensive process." He wasn't speaking hypothetically - the city's legal tab in the proceedings exceeds $14 million.
Legal fees collected by the city's law firm, Orrick, Herrington & Sutcliffe LLP, bear out Klein's warn...
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