Stockton Seeks To Exit from Bankruptcy
October 30, 2014 – In The NewsAssociated Press
Michael Sweet was quoted in the Associated Press article, “Stockton Seeks To Exit from Bankruptcy.” Full text can be found in the October 30, 2014, issue, but a synopsis is below.
In a critical moment for the city’s financial recovery, Stockton will ask U.S. Bankruptcy Judge Christopher Klein to approve a plan for the reorganization of more than $900 million in long-term debt over objections from a lone creditor that argued it was treated unfairly.
"I don't know that it will come into play," said bankruptcy attorney Michael Sweet, who has kept a close watch on the case. He explained that there have been no Chapter 9 bankruptcies that attacked pensions.