The judge in the bankruptcy case for the city of Stockton, Calif., denied a motion by a holdout creditor that would slightly increase the amount it would receive on its claim, Reuters reported yesterday. Attorneys for Franklin Templeton Investments had filed a motion for a stay pending appeal of a ruling by the judge in October that confirmed the city's plan to exit chapter 9 protection. In the city's plan, Franklin would receive just over $4 million of the $36 million it said that it is owed. The remaining $32 million of the total was considered unsecured, for which Franklin would receive less than a penny on the dollar.
