Here’s the city’s pitch for how it went broke. It’s a good read, chalk full of figures underpinning the city’s rise and fall. (Scroll down to page 6.) This stage of Vallejo’s bankruptcy proved a big fight, so get ready, Stockton.
In Friday’s hearing, attorney Lawrence Larose of the bond insurer National Public Finance Guarantee Corp., said he doubted this narrative the city has been telling about how it came to its financial crisis.
The creditors have until Aug. 9 to file their objections to Stockton’s eligibility. We may soon begin to see what Larose meant by that.