Thursday, June 28, 2012

Stockton, California, to file for bankruptcy ... - The Finance Room

on June 27, 2012 11:16 pm in Business News / no comments

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A local newspaper headline announces bankruptcy in Stockton, CaliforniaSTOCKTON, California (Reuters) - Stockton, California, is expected to file for bankruptcy before the end of the week, becoming the largest U.S. city to seek protection from its creditors. Officials said that the city of nearly 300,000 could file for Chapter 9 bankruptcy by Friday afternoon, after the city council approved on Tuesday a budget that includes savings from the bankruptcy. ...

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