Bankruptcy
Dec. 17, 2015
Major creditor holds out in Stockton bankruptcy case
In the Chapter 9 municipal bankruptcy case of the city of Stockton, Franklin Funds was the only major creditor group that did not negotiate a settlement with the city.
David S. Kupetz
Shareholder
SulmeyerKupetz PC
333 S Grand Avenue, Suite 3400
Los Angeles , CA 90071-1406
Fax: (213) 629-4520
Email: dkupetz@sulmeyerlaw.com
UC Hastings College of the Law
David is an expert in bankruptcy, business reorganization, restructuring, assignments for the benefit of creditors, and other insolvency solutions.
In the Chapter 9 municipal bankruptcy case of the city of Stockton, Franklin Funds was the only major creditor group that did not negotiate a settlement with the city. Settlements negotiated with other capital markets creditors (indenture trustees, bond insurers and bondholders), labor organizations, retirees, and the California Public Employees' Retirement System, aka CalPERS, were incorporated into Stockton's plan of debt adjustment.
Franklin objected to confirmation of the plan a...
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