Reuters: Bankruptcy News: Stockton, Calif., insurer contests city bankruptcy

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Stockton, Calif., insurer contests city bankruptcy Aug 9th 2012, 15:28 Thu Aug 9, 2012 11:38am EDT Aug 9 (Reuters) - A unit of insurer MBIA Inc. challenged Stockton, California's bankruptcy on Wednesday, saying the case was invalid because the city didn't first negotiate with its biggest unsecured creditor, the California Public Employees' Retirement System. The National Public Finance Guarantee Corp., which insured nearly $94 million of the city's revenue bonds, said the city was required to negotiate in good faith with creditors before filing, according to the objection filed in bankruptcy court. (Reporting by Hilary Russ; Editing by Padraic Cassidy)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions