SAN FRANCISCO — Stockton, Calif.’s bond defaults have already started a legal tug-of-war with insurers.

Wells Fargo Bank NA, trustee for all of the city’s general fund-linked debt, has filed a lawsuit in San Joaquin County Superior Court seeking repossession of three city parking structures that guarantee $35 million of lease revenue bonds now in default.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.