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Bankruptcy protection sought by Stockton, CA

Residents of Stockton, California are saddened by the news that the city will be filing for bankruptcy protection.This filing will mark Stockton as the largest city in the nation to file for bankruptcy under the U.S. bankruptcy code.

Stockton is home to approximately 300,000 residents, and generations of families are familiar with one another in this tight-knit community. Numerous residents attended the City Council meeting on Tuesday in order to confirm for themselves that the city was indeed filing for bankruptcy protection.

The City of Stockton has been negotiating with a number of it’s creditors since the end of March in order to mediate the bankruptcy process. At the City Council meeting, it was announced that employee benefits had been greatly reduced, a survival budget had been put in place, and bond payments were no longer being paid.

If you are considering filing for bankruptcy protection, please contact the bankruptcy lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.

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Greenway Bankruptcy Law, LLC
505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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