Reuters reports the City of Stockton and its creditors selected Ralph Mabey to mediate pre-bankruptcy negotiations. Mabey, a former federal bankruptcy judge, also serves a court-appointed mediator in the Lehman Brothers Holdings Inc bankruptcy.
Pre-bankruptcy mediation is required by state law before the city can declare bankruptcy. The article reports the creditors participating in the mediation include CalPERS, Wells Fargo, the U.S. Housing and Urban Development Department and the Stockton Police Officers' Association. David E. Mastagni, Alan Davis, Isaac S. Stevens and BJ Pierce represent the Stockton POA in the matter.