Wealth of Interest in Stockton MediationJune 3, 2012 – In The News
As the city of Stockton, CA slides toward bankruptcy, many investors across the country are anxiously awaiting the results of mediation between the city and Wall Street lawyers. Michael J. Viscount, a Partner and member of the firm’s Financial Restructuring and Bankruptcy Department, speculated on what is going on inside Stockton’s mediation with the Stockton Record. He believes that a high-stakes cat-and-mouse game is likely at play.
Viscount said, “Bondholders are going to want to know, what have you already done? Did you exhaust every possible scenario to get concessions…before you came to talk with us?”