Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comFirm News
City of Stockton Qualifies For Bankruptcy Protection
Author: Joel R. Glucksman
Date: April 11, 2013
Key Contacts
Back
A federal judge has ruled that the city of Stockton, California, is eligible for bankruptcy protection. Thus, the Chapter 9 bankruptcy case filed by the city will continue.
Stockton, which is home to some 300,000 residents, recently became the largest city in the United States to file for bankruptcy protection. The city joins fellow California city San Bernardino as one of a string of major U.S. municipalities to file for bankruptcy in recent months. Jefferson County, Alabama, has also made such a filing in the past year.
In his ruling, Bankruptcy Judge Christopher Klein stated that the reason he decided to allow the case to continue is that creditors who invested in the city neglected to take the 90-day mediation negotiations with Stockton seriously. Those same creditors, though, argued that the city also showed a lack of good faith in attempting to pay off its debt to the CalPERS pension system.
While Klein is allowing the bankruptcy to continue, he noted that one matter he will keep an eye on throughout the proceedings is how pensions will be affected.
“This does not mean there is not potentially a serious issue involving CalPERS,” Klein noted after his ruling on the case. “But at this point I do not know what that is.”
- Practices: Bankruptcy & Creditors' Rights, Corporate Transactions & Business, Bankruptcy Litigation
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Scarinci Hollenbeck Named in the 2026 Edition of Best Law Firms®
November 6, 2025 – Little Falls, NJ – Scarinci Hollenbeck, LLC is proud to be recognized in the 2026 edition of the Best Law Firms rankings, published by Best Lawyers. The firm has been named a Regional Tier 1 firm in New Jersey in five practice areas, a Regional Tier 2 firm in New Jersey […]
Author: Scarinci Hollenbeck, LLC
Scarinci Hollenbeck Attorneys Named 2025 New York Metro Super Lawyers
Angela A. Turiano and Ryan O. Miller of Scarinci Hollenbeck’s NYC Office Earn Prestigious Honor Legal rankings publisher Super Lawyers has named two lawyers from Scarinci Hollenbeck’s New York office to its 2025 New York Metro Super Lawyers list. The firm congratulates Angela A. Turiano and Ryan O. Miller for this notable accomplishment. No more […]
Author: Scarinci Hollenbeck, LLC
Scarinci Hollenbeck Secures Major Win for Jersey City Renovation Project
Donald M. Pepe and Patrick T. Conlon Secure Appellate Ruling Dismissing Challenge to Jersey City Improvement Project Little Falls, NJ – October 22, 2025 – Scarinci Hollenbeck, LLC has secured a significant appellate win on behalf of the Exchange Place Alliance District Management Corporation. The Appellate Division of the New Jersey Supreme Court affirmed the […]
Author: Scarinci Hollenbeck, LLC
Somerset County Counsel Joins Scarinci Hollenbeck Real Estate Section
Veteran New Jersey Real Estate Attorney Joe DeMarco and Two Associates Join Scarinci Hollenbeck Little Falls, NJ — September 25, 2025 — In a move that bolsters the capabilities of its leading Real Estate, Land Use, and Public Practices, Scarinci Hollenbeck, LLC has added Joseph DeMarco as Partner. DeMarco is a veteran attorney and municipal […]
Author: Scarinci Hollenbeck, LLC
Don Pepe and Donald Scarinci Named to NJBIZ's 2025 Power 50 in Law List
Scarinci Hollenbeck Congratulates Partners Don Pepe and Donald Scarinci for Inclusion in NJBIZ’s 2025 Power 50 in Law List Little Falls, NJ — September 23, 2025 — Scarinci Hollenbeck, LLC is proud to announce that Donald Scarinci, Founding & Managing Partner, and Donald M. Pepe, Partner of the firm’s Commercial Real Estate Department, were both […]
Author: Scarinci Hollenbeck, LLC
Christopher D. Warren Appointed to NJ Ethics Committee
Scarinci Hollenbeck Partner Christopher D. Warren Named to New Jersey Supreme Court District VI Ethics Committee Little Falls, NJ — September 5, 2025 — Scarinci Hollenbeck, LLC is proud to announce that Christopher D. Warren, Partner, has been appointed to serve on the New Jersey Supreme Court District VI Ethics Committee for the term 2025–2029. Mr. Warren brings more than […]
Author: Scarinci Hollenbeck, LLC
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.