Recent Posts

Stockton, California Chapter 9 Filing - Another Outlier, Or Harbinger?
Posted on 2 Jul 2012 by Kelley Drye & Warren LLP

Meredith Whitney, one of the first financial analysts to foresee the collapse of the housing market, famously predicted in December 2010 that a wave of municipal bond defaults was on the way . The wave, however, has yet to materialize, and the bankruptcy... Read More

Cadwalader Clients & Friends Memo-City of Stockton: Bankruptcy Court Holds that Rule 9019 Does Not Apply to Chapter 9 Debtors
Posted on 6 Feb 2013 by Cadwalader, Wickersham & Taft LLP

On January 30, 2013, Judge Christopher Klein of the Bankruptcy Court for the Eastern District of California held that, pursuant to section 904 of the Bankruptcy Code, a municipal debtor is not required to seek court approval to enter into settlements... Read More

City Of Stockton, Calif., Files For Bankruptcy, Citing $26 Million Deficit
Posted on 29 Jun 2012 by LexisNexis Bankruptcy Law Community Staff

SACRAMENTO, Calif. - The City of Stockton, Calif., last night filed its Chapter 9 bankruptcy petition in the U.S. Bankruptcy Court for the Eastern District of California, becoming the largest city in the country to file for bankruptcy after months of... Read More