Stockton, CA

Panic in Detroit? Motor City Moves Closer to Possible Chapter 9 Filing

12/13/12

Detroit has seen signs of revival in its urban core following the near-death experiences of GM and Chrysler. Unfortunately, its municipal finances remain beaten down by the city’s long and precipitous decline over the past several decades. Labor and legacy costs, incurred when the auto industry thrived and the population well exceeded a million citizens, are now heav

[more]

Game On in Stockton, CA Chapter 9 Case - Bond Insurer Sets Focus on Calpers

08/15/12

The Olympics may be over, but a potential clash of titans is gearing up in the Chapter 9 bankruptcy case of Stockton, California. Municipal bond insurer National Public Finance Guarantee Corporation (“National”) has challenged Stockton’s eligibility to be a debtor under Chapter 9 of the Bankruptcy Code, and is focusing expressly on the city’s alleged failure to seek concessions of its pension l

[more]