Bridgeport, state withdraw appeals on bankruptcy.
Joseph P. Ganim, the new Mayor of Bridgeport, Conn., along with the state’s attorney general, last week made a joint announcement that both the city and state were withdrawing their opposing appeals in the city’s historical municipal bankruptcy case.
Under the terms of the joint statement, which remain to be approved by Bridgeport’s Common Council on January 27, the largest municipal bankruptcy petition in the nation’s history would end without a final resolution.
The agreement would leave unchanged, however, a lower federal court decision setting a precedent for all cities and towns easing access to the option of filing a petition with the federal courts for a city or …
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