Bankruptcy
Aug. 8, 2011
Vallejo clears final hurdle
The city of Vallejo has cleared the final hurdle to emerging from bankruptcy.
By Ben Adlin
Daily Journal Staff Writer
The city of Vallejo has cleared the final hurdle to emerging from bankruptcy. On Friday, U.S. Bankruptcy Judge Michael S. McManus of the Eastern District of California signed the city's Chapter 9 reorganization plan, bringing to an end the city's 3-year-long saga. Under bankruptcy protection, the city slashed payroll and city services, including public safety and racked up more than $10 million in legal bills.
The $50 million ...
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