Calif. Assembly Rejects Bankruptcy Process Change

Mediation Process Will Remain Unchanged

CBS Money Watch
May 30, 2012

The state Assembly in California rejected an attempt to alter the mediation process for California cities on the verge of declaring bankruptcy. These amendments-which may come to a vote again later this week-are on the cupse of changes that were approved just months ago. “Assemblyman Bob Wieckowski says neutral evaluators need more financial information about the cities they are working with.”

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