The judge hearing Stockton, Calif.'s bankruptcy case yesterday scheduled a vote by the city's creditors on its plan to exit bankruptcy for February after approving its notice of deals it has struck with nearly all of them, Reuters reported. The only major creditors continuing to contest Stockton's plan are the Franklin High Yield Tax-Free Income Fund and Franklin California High Yield Municipal Fund, and they will be able to contest it after the vote in a trial in March, which will also serve as the hearing to confirm the city's plan, Bankruptcy Judge Christopher Klein said. Franklin holds $35 million in bonds issued by Stockton, which wants to pay $95,000 on the debt as part of its plan to exit bankruptcy.
