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WSLG138 – ?Death by a Thousand Meetings?? California?s New Initiative to Limit Municipal Bankruptcies – 8/8/2012

WSLG138 – ?Death by a Thousand Meetings?? California?s New Initiative to Limit Municipal Bankruptcies – 8/8/2012 published on No Comments on WSLG138 – ?Death by a Thousand Meetings?? California?s New Initiative to Limit Municipal Bankruptcies – 8/8/2012

Author: Carol A. Pettit

Pages: 2

Despite months of state-mandated meetings to negotiate with creditors, two California municipalities-Stockton and Mammoth Falls-recently filed for bankruptcy protection under chapter 9 of the Bankruptcy Code. On July 10, a third city, San Bernardino, voted to authorize filing under chapter 9. It apparently does not have enough money to meet its August 15 payroll.

 

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