Stockton, Franklin dispute set for court as Detroit watches on


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.

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