Road to Bankruptcy

Timeline created by mponto
  • Stockton to pursue bankruptcy?

    Sources say Stockton will start the process to file for bankruptcyFirst rumblings that Stockton will file for bankruptcy came in mid-February after sources told News10 that the city will begin the bankruptcy process
  • Stockton city councilmember opposes bankruptcy

    Stockton bankruptcy move opposed by councilmanStockton city councilman Dale Fritchen said is strongly against Stockton beginning the bankruptcy process at next week's meeting.
  • Stockton possibly follows in Vallejo's footsteps

    Stockton could follow Vallejo's lead and file for bankruptcyIf Stockton follows through with bankruptcy proceedings, it will follow in the footsteps of the city of Vallejo, which declared bankruptcy in 2008.
  • Moody's downgrades Stockton's credit

    Moody's downgrades Stockton's credit; police union says don't file for bankruptcyMoody's downgraded Stockton's credit-worthiness Friday to below investment grade, affecting nearly $341 million of debt.
  • Stockton begins mediation process to avoid bankruptcy

    Stockton begins mediation process The City of Stockton is in a 60-day mediation process with creditors to find ways to avoid bankruptcy, which is outlined in Assembly Bill 506.
  • Former Stockton city manager says don't blame retirement programs

    Stockton financial woes fingerpointing continuesFormer Stockton city manager Dwane Milnes said retirees should not be blamed for the city's current budget struggles.
  • Decision made in 1990s caused money trouble for Stockton

    Official: Bad money moves, bad luck got Stockton in troubleStockton City Manager Bob Deis it was a series of bad financial decisions and bad luck that put Stockton close to the bankruptcy option.
  • Stockton city council votes to start bankruptcy process

    Stockton city council votes to start bankruptcy process The Stockton City Council voted to begin the bankruptcy process by going into a mediation period with creditors.
  • Stockton public parking garages to stay open after being seized

    Downtown Stockton public parking garages to stay open Three downtown Stockton public parking garages which are being taken over by bond holder Wells Fargo as the city works through a fiscal emergency will remain open.
  • Trouble at Stockton parking garage seized by bank

    Moviegoers stuck in Stockton parking garage for hours Last month, Wells Fargo repossessed three city parking garages after city hall failed to pay its loan. The city's public parking garages didn't charge for late night movie parking, but the rules are now different.
  • Stockton bankruptcy mediation extended

    Stockton bankruptcy mediation extendedStockton's mediation process, required by AB 506 before a city files for bankruptcy, was extended another 30 days.
  • Stockton preps bankruptcy contingency plan

    Stockton preps bankruptcy contingency planThe Stockton City Council announced Wednesday that they will look at bankruptcy contingency plans after Wells Fargo seized the new city hall building.
  • Stockton City Council approves contingency plan

    Stockton City Council approves contingency planThe Stockton City Council voted to approve a contingency plan that will give its city mnger authority to declare bankruptcy if negotiations with creditors fail and the city remains insolvent.
  • Bond downgrade doesn't immediately affect Stockton

    Bond downgrade doesn't immediately affect Stockton Wall Street investment firm, Fitch Ratings, downgraded the water bonds to below investment grade on Wednesday after Stockton's city council voted to plan for a possible bankruptcy filing.
  • Stockton promises to pay some bills

    If bankruptcy declared, Stockton promises to pay some bills If the City of Stockton declares bankruptcy as early as Tuesday, it means the city would stop paying a lot of what it owes to businesses, banks and employee groups.
  • Stockton mayor: We are on the verge of bankruptcy

    Stockton mayor: We are on the verge of bankruptcy The mayor of Stockton said the city appears to be on the verge of becoming the largest U.S. city to file for bankruptcy.