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Road to Bankruptcy

Timeline created by mponto in Politics
Event Date: Event Title: Event Description:
Timeline small square 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
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.
Timeline small square 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.