Marc Levinson

Stockton Creditors Dispute City’s Insolvency at Trial

Stockton, California, creditors asked a judge to end its bankruptcy case, saying at the start of a four-day trial that the city should cut excessive employee pay and pension benefits before seeking court protection.

Stockton Creditors Face Long Odds to End City Bankruptcy

Removing Stockton, California, from federal bankruptcy protection will require that creditors such as Assured Guaranty Corp. and Franklin Resources Inc. prove the city isn’t truly insolvent, and that its leaders didn’t negotiate a potential settlement in good faith.

Stockton Creditors Face Long Odds to End City Bankruptcy

Removing Stockton, California, from federal bankruptcy protection will require that creditors such as Assured Guaranty Corp. and Franklin Resources Inc. prove the city isn’t truly insolvent, and that its leaders didn’t negotiate a potential settlement in good faith.

First U.S. Bank Regulations May Look Strikingly Familiar

One hundred fifty years ago, the U.S. was two years into a brutal Civil War. The financial cost left the federal government under enormous stress, leading to a result no one had imagined: the first modern system of bank regulation.

California’s Stockton Moves Toward Mediation, Lawyer Says

Stockton, California, testing a new state requirement that municipalities try mediation before seeking bankruptcy protection, made formal requests to creditors to take part, according to a lawyer for the city.

Rhode Island Setting Standard for Bondholders’ Love: Muni Credit

Central Falls, the first city in Rhode Island’s 222-year history to go bankrupt, is preparing to exit court protection after 13 months by keeping bondholders whole while raising taxes and cutting workers and pensions.

Jefferson County Bankruptcy Filing May Not Block Credit Access in Future

Jefferson County, Alabama, officials shouldn’t worry that a bankruptcy filing will damage their ability to borrow money in the future, said lawyers who guided other municipalities through two of the biggest court-supervised restructurings. The markets will forget, they said.

Assured Guaranty Faces $100 Million Loss From Stockton

Stockton, the bankrupt California city, is trying to force bond insurer Assured Guaranty Corp. to accept $100 million in losses instead of seeking more concessions from labor unions, the company said.

Jefferson County, Alabama, Votes to Declare Biggest Municipal Bankruptcy

Jefferson County, Alabama, commissioners voted 4-1 to file the largest U.S. municipal bankruptcy after reaching an impasse over concessions with holders of $3.14 billion of bonds.

California’s Municipal Bankruptcies Sign of Stigma Waning

Bankruptcy decisions by San Bernardino and two other California cities only weeks apart may signal that municipal insolvency, while still a last resort, is losing its stigma.

"The city has always believed, and continues to believe, that it is eligible for bankruptcy."

- Marc Levinson on Mar 22, 2013

California

Sacramento

Alabama

San Francisco

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