A Dark Horse Enters the Bankruptcy Fray in Stockton

July 3, 2013 – In The News

Michael Sweet was quoted in the Debtwire article "A Dark Horse Enters the Bankruptcy Fray in Stockton." While the full text can be found in the July 3, 2013, issue of Debtwire, a synopsis is noted below.

Stockton taxpayers have filed documents to be officially recognized by the court as part of the city’s bankruptcy proceedings. The group wants a say in the debate over whether taxes will be raised in order to exit bankruptcy and if the taxes are raised, whether the increased tax money should go to the bankruptcy or used to hire more police officers.

Michael Sweet said several questions remain unanswered, including who would pay the legal fees for the taxpayers. “The more significant question is how the debtor will feel about having this committee, if it is formed, involved in the plan process,” Sweet said.