Stockton, Franklin dispute set for court as Detroit watches on

|About: Franklin Resources Inc. (BEN)|By:, SA News Editor

Stockton is due in court today for a four-day hearing today in which the bankrupt Californian city will attempt to win approval for a plan to pay creditor Franklin Resources (BEN) just 1% of the $35M that the company is owed.

The case is rare, as these types of disputes are usually settled out of court. However, the hearing could presage a much larger showdown involving Detroit and its creditors.

ETFs: MUB, HYD, BAB, PZA, MUNI, TFI, ITM, HYMB, MLN, CMF, SHM, BABZ, BABS, XMPT, PRB, SUB, SMB, SHYD, CXA, PWZ, PVI, SMMU, VRD, GMMB, RVNU