IPFS News Link • Economy - Economics USA
Stockton, California eligible for municipal bankruptcy protection: judge
• ReutersStockton,
California, was ruled eligible for bankruptcy protection under Chapter 9
of the U.S. bankruptcy code, a U.S. judge said on Monday, turning
aside creditors' arguments that the city was not truly insolvent when it
sought protection last year and had improperly failed to seek
concessions.
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