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...
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...
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...