CalPERS May Prevail Despite Bankruptcy Judge's Warning in City of Stockton, California That Failure to Impair Public Pension Obligations May Constitute "Unfair Discrimination" in Plan of Adjustment

more+
less-

CalPERS is likely to prevail in the City of Stockton, California bankruptcy if the Court accepts its position that the City’s pension obligations to CalPERS are executory contracts that can be assumed by the City in its “business judgment” notwithstanding the Bankruptcy Court’s power to impair public pension obligations in Chapter 9 bankruptcy proceedings.

This case is pending before Chief Judge Christopher M. Klein in the Bankruptcy Court for the Eastern District of California (Case No. 12-32118-C-9)

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Timothy Durken, Jager Smith P.C. | Attorney Advertising

Written by:

more+
less-

Jager Smith P.C. on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×