Bankruptcy
Oct. 8, 2013
Stockton gets buy-in on restructuring plan from last holdout
Assured Guaranty, one of the city's major debt-holders, has tentatively agreed to a deal.
By Paul Jones
Daily Journal Staff Writer
Stockton has reached a tentative agreement with insurer Assured Guaranty, one of the city's major debt-holders and final holdouts to a voluntary debt restructuring plan for the city, the city manager said last week. The city council has also approved the plan.
The agreement means Assured, an unsecured party, will not contest the city's current plan, avoiding a "cramdown" request by Stockton to have U.S. ba...
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