Government
Feb. 29, 2012
Possible city bankruptcy would test new law
After years of struggling to stave off insolvency, leaders in Stockton today will consider whether to take the first steps toward declaring bankruptcy, including entering into a confidential mediation process with creditors.
Daily Journal Staff Writer
After years of struggling to stave off insolvency, leaders in Stockton today will consider the first steps toward declaring bankruptcy.
Municipal lawyers are watching closely, as Stockton would be the first city to test the mediation process required by a state law that took effect this year, designed to speed the municipal bankruptcy process or avoid it altogether.
A resolution before the City...
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