SAN DIEGO — Though municipal bankruptcies may never become widespread, industry insiders warned during The Bond Buyer’s California Public Finance Conference more will come because of the pressure on local governments.

“I really don’t expect … this great wave of Chapter 9 bankruptcies across the country,” said John Knox, a partner at Orrick, Herrington & Sutcliffe LLP and bankruptcy attorney for Vallejo, Calif. “I think probably there will be a couple more because of the great stress that local governments are under.”

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