Vallejo Faces Debts of $17 Million in Bankruptcy

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Vallejo Faces Debts of $17 Million in Bankruptcy
As expected, Vallejo, Calif., filed for bankruptcy Friday. The city council had approved the action earlier this month ("Vallejo, Calif. Files for Bankruptcy," May 8).The filing, with the U.S. Bankruptcy Court, Eastern District of California, claims that the municipality “has negotiated in good faith with creditors,” but “these efforts resulted in short-term concession
 
Topic: Government & Collections