Bankruptcy
Apr. 3, 2013
Stockton gains the go-ahead
Just as Stockton on Monday became the most populous American city to receive court protection from its creditors, lawyers said the upcoming bankruptcy proceedings are fraught with uncertainty due to the unexplored nature of municipal bankruptcy law.
Daily Journal Staff Writer
SACRAMENTO - Just as Stockton on Monday became the most populous American city to receive court protection from its creditors, lawyers said the upcoming bankruptcy proceedings are fraught with uncertainty due to the unexplored nature of municipal bankruptcy law and the nearly unprecedented nature of Stockton's efforts to reduce its debt.
Stockton accumulated massive debt after years of offering exce...
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