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Robert Lafee Citron (April 14, 1925 – January 16, 2013) was the longtime Treasurer-Tax Collector of Orange County, California, when it declared Chapter 9 bankruptcy on December 6, 1994. The bankruptcy was brought on by Citron's investment strategies, [ 2 ] which seemed to be an effort to earn high incomes for the county, without raising taxes ...
He was the federal court-appointed attorney that represented 170-plus municipal entities [1] with investments of over $5 billion in the Orange County, California, Chapter 9 bankruptcy. [2] On December 6, 1994, the County of Orange declared Chapter 9 bankruptcy, from which it emerged in June 1995.
Orange County, California: County 1994 2,500,000 $1,700,000,000 [36] County treasurer Robert Citron made risky investments, leading to the county's bankruptcy Completed [37] [38] Kinlock, Missouri: City 1994 2,700 Completed [39] Pritchard, Alabama: City 1999 28,600 Due to inability to pay pensions. The city would again declare bankruptcy in ...
The 12 candidates in the L.A. Community College District Board of Trustees election include activists, former and current faculty and staff members, and incumbent trustees.
More than 55,000 Los Angeles County union workers in hospitals, social services, public health and other county departments represented by SEIU 721 are prepared to walk off the job over alleged ...
Eric Webber: [181] First openly gay male to serve as the President of the Los Angeles County Bar Association (c. 2013) Firdaus Dordi: [53] [54] First Zoroastrian male judge in Los Angeles County, California (2017) Ricardo García: [182] First Latino American male to serve as the Public Defender for Los Angeles County, California (2018)
In limited circumstances, the creditors involved in a bankruptcy case can elect a trustee. In a Chapter 7 Bankruptcy ("Liquidation") the trustee gathers the debtor's non-exempt property, managing the funds from the sale of those assets, and then paying expenses and distributing the balance to the owed creditors.
Bankruptcy courts appoint a trustee to represent the interests of the creditors and administer the cases. The U.S. Trustee [3] appoints Chapter 7 trustees for a renewable period of 1 year, Chapter 13 trustees are "standing trustees" who administer cases in a specific geographic region.