Stockton Bankruptcy Ruling Expected TodayOctober 29, 2014 – In The News
Michael Sweet was quoted in the Record Net article, “Stockton Bankruptcy Ruling Expected Today.” Full text can be found in the October 29, 2014, issue, but a synopsis is below.
No one is sure what will happen this morning when Stockton’s Chapter 9 bankruptcy case is gaveled back into session at the federal courthouse in Sacramento.
Bankruptcy attorney, Michael Sweet, has no direct ties to the Stockton case but says he believes Klein will approve the city’s plan.
“I think given how far the case has come, it’s unlikely the judge will deny confirmation, although he has expressed from the beginning of the case serious concerns about how the city has dealt with its pension obligations through the bankruptcy,” Sweet explained. “So I suspect we will hear more about that.”