Perspective
Jun. 19, 2013
Bankruptcy court chastises Stockton's capital market creditors for their opposition to Chapter 9 relief
The capital market creditors asserted that, as a matter of state law, Stockton did not satisfy its good faith negotiation obligation during the AB 506 process. By David Kupetz
Chapter 9 of the bankruptcy code provides a framework for eligible governmental entities to restructure debt. The underlying intent is to enable a local public entity that is unable to pay its debts as they come due to continue to provide essential services to residents while working out a plan to adjust its debts. The goal of a Chapter 9 case is the adjustment of debts necessary for the local public entity to achieve financial sustainability. Mor...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In