Posts Tagged: bankruptcy

Bond insurers who want CalPERS to share the financial pain of the Stockton bankruptcy do not answer a key question in lengthy court filings: How would “bloated” and “overly rich” pensions be cut?

The insurers backing $250 million worth of Stockton general fund bonds argue that the city’s bankruptcy plan gives them major cuts

RIVERSIDE — A federal judge last week rejected a CalPERS request to sue bankrupt San Bernardino for a growing unpaid bill, but gave preliminary support to the argument that the bill must be paid in full before the city can leave bankruptcy.

The widely watched question of whether the bankruptcy will reduce pensions promised