April 01, 2013 at 15:09 PM EDT
Stockton, Calif. eligible for municipal bankruptcy protection-judge
SACRAMENTO, April 1 (Reuters) - Stockton, California, was ruled eligible for bankruptcy protection under Chapter 9 of the U.S. bankruptcy code, a U.S. judged said on Monday, turning aside creditors' arguments that the city was not truly insolvent when it sought protection last year and had improperly failed to seek concessions.
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