City of Stockton, California

  1. June 26, 2015

    9th Circ. Asked To Overturn Stockton's Bankruptcy Plan

    Franklin Templeton Investments Inc. on Thursday urged the Ninth Circuit to overturn Stockton, California's Chapter 9 plan, saying that the restructuring plan is grossly unfair to unsecured creditors and should have instead trimmed recoveries for pension holders.

  2. February 05, 2015

    Stockton Bankruptcy Plan OK'd Despite Holdout

    A federal bankruptcy judge on Wednesday approved the Chapter 9 plan of Stockton, California, over an objection by Franklin Templeton Investments Inc., which argued that pension obligations should have been impaired to boost its sub-1-percent recovery on $32.5 million in unsecured bond debt.

  3. January 20, 2015

    Stockton Holdout Can't Stop Ch. 9 Plan During Appeal

    A bankruptcy judge refused on Tuesday to block the city of Stockton, California, from paying back creditors and exiting Chapter 9 while holdout Franklin Templeton Investments Inc. presses the Ninth Circuit to boost its sub-1-percent recovery on $32.5 million in unsecured bond debt.

  4. January 13, 2015

    Franklin Aims To Hold Up Stockton's Ch. 9 Pending Appeal

    Franklin Templeton Investments urged a California bankruptcy judge Tuesday to delay implementation of the city of Stockton's Chapter 9 plan while the firm pursues an appeal, a move Stockton said would keep the city under a cloud.

  5. December 01, 2014

    Stockton Fights Franklin Bid To Reduce $545M Retiree Claims

    The city of Stockton, California, urged a bankruptcy judge to reject a call from creditor Franklin Templeton Investments to trim retiree health benefits claims allowed under the city's Chapter 9 exit plan by more than $280 million, saying Wednesday that there is no legal basis for such a reduction.

  6. November 14, 2014

    Stockton Holdout Wants Ch. 9 Plan Stopped During Appeal

    Franklin Templeton Investments Inc., the lone creditor lined up against Stockton, California's proposed debt restructuring, filed an appeal on Wednesday of the city's plan to pay off less than 1 percent of $32.5 million in bond debt while satisfying retiree pension claims in full.

  7. September 05, 2014

    Holdout Creditor Blasts Treatment In Stockton Ch. 9 Plan

    Holdout creditor Franklin Templeton Investments on Thursday urged a California bankruptcy judge to reject the city of Stockton's plan to exit Chapter 9 bankruptcy, arguing the plan is unfair because it would pay the city's prepetition liabilities for unfunded pensions in full while forcing Franklin to accept a recovery of less than 1 percent.

  8. June 21, 2013

    Weil Gotshal Hired In Calif. Ch. 9 Cases After Winston DQ

    National Public Finance Guarantee Corp. has retained Weil Gotshal & Manges LLP to represent it in the Chapter 9 bankruptcy proceedings of San Bernardino and Stockton, Calif., after a judge disqualified Winston & Strawn LLP from representing the bond insurer in the San Bernardino matter, it said Friday.

  9. June 13, 2013

    Stockton Bankruptcy Judge Slings Sharp Words At Assured

    The California bankruptcy judge overseeing the largest-ever municipal bankruptcy on Wednesday refused a request by Assured Guaranty Corp. to change his determination that the bond insurer failed to negotiate in good faith with the city of Stockton.

  10. April 15, 2013

    Assured Disputes Bad-Faith Ruling Over Stockton Bankruptcy

    Assured Guaranty Corp. on Friday petitioned a California bankruptcy judge to reverse his ruling that the bond insurer did not negotiate in good faith with the financially troubled city of Stockton, saying it initiated talks with the city several times before it filed for bankruptcy.