Stockton Seeks To Exit from Bankruptcy

October 30, 2014 – In The News
Associated 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.