Stockton, Calif., to Exit Bankruptcy In Wake of Plan’s Endorsement by Judge

Stockton, Calif., will exit bankruptcy on Feb. 25, almost three years after the agricultural center said it could no longer meet its obligations.

The move was triggered by a U.S. judge signing the city’s bankruptcy exit plan on Feb. 4, the city said in a news release Feb. 24.

“We have worked long and hard to get to this day,” City Manager Kurt Wilson said in the release. “The stigma of bankruptcy is lifted and we can move our city forward toward recovery.”

Stockton, a city of 298,000, filed for Chapter 9 bankruptcy in 2012 after talks with bondholders and ...