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Stockton, Calif. to take up bankruptcy budget plan

News Link • Economy - Economics USA

Stockton, Calif. to take up bankruptcy budget plan

06-26-2012 • Reuters

Stockton, California was poised on Tuesday to take a major step toward becoming the largest U.S. city ever to file for bankruptcy after talks with its creditors on Monday at midnight.

Negotiations aimed at averting bankruptcy may press on informally, the city's spokeswoman said, adding that city officials would next discuss any moves toward bankruptcy at the city council meeting on Tuesday evening.

Read Full Story

Reported by Powell Gammill

•

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Tags: stockton, california, poised, toward, becoming, largest, bankruptcy, creditors, negotiations, averting, bankruptcy, informally

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