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This consultation can help consumers who are struggling define a pathway to recovery from those serious financial problems and can lead to the possibility that filing for bankruptcy protection or some other strategy can be employed to bring about an end to ...

In February, Stockton began negotiating with 19 parties, including retirees and city workers, under a California law that requires municipalities to try mediation before filing for Chapter 9 bankruptcy. That mediation process expired Monday.

They also cut wages and medical benefits. "The whole purpose of filing Chapter 9 is to avoid an uncontrolled chaotic situation," he said. "Bankruptcy provides the equivalent of a pause button. It retains services and provides structure so you don't have a ...

The city of Stockton is on the verge of proceeding with a Chapter 9 bankruptcy filing, which is considered a rare and complex form of bankruptcy. Bob Deis, Stockton city manager, said the move is a legal method to prevent financial and legal chaos.

Mayor Ann Johnston told KCRA-TV (http://bit.ly/LpyGkr) that a formal bankruptcy filing appears "very likely." In the past three years, officials in the city that was slammed by the collapse of the housing market dealt with $90 million in ...