Reuters: Bankruptcy News: Bond insurer Assured contests Stockton bankruptcy eligibility

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Bond insurer Assured contests Stockton bankruptcy eligibility Aug 9th 2012, 21:58 SAN FRANCISCO | Thu Aug 9, 2012 5:58pm EDT SAN FRANCISCO Aug 9 (Reuters) - Bond insurer, Assured Guaranty Ltd, on Thursday contested Stockton, California's eligibility for bankruptcy, becoming the second creditor to ask a federal court to reject the city's petition for protection from creditors. Assured's filing, which followed a separate challenge from a unit of insurer MBIA Inc, argued that Stockton failed to prove it was insolvent and did not negotiate in good faith.

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