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Stockton, Calif., files for bankruptcy protection, the largest US city to do so
Thursday, October 30, 2014 12:20
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A judge has approved a debt plan by Stockton, California, one of the largest U.S. cities to declare bankruptcy, allowing it to reorganize more than $900 million in long-term debt.
U.S. Bankruptcy Judge Christopher Klein said Thursday that Stockton can use the plan to exit the court's Chapter 9 protection, which it sought in 2012.
The city negotiated deals with all major creditors except Franklin Templeton Investments …. http://abcnews.go.com
Source: http://luismmx.blogspot.com/2014/10/stockton-calif-files-for-bankruptcy.html
