Bankruptcy
Oct. 3, 2014
Judge: Public pensions can be modified like other debt in city bankruptcy
U.S. Bankruptcy Judge Christopher Klein's decision Wednesday in Stockton's bankruptcy case could have wide-ranging consequences for bankrupt cities across the nation.
Daily Journal Staff Writer
SACRAMENTO - Public employee pensions can be modified like any other debt, and federal judges can stop efforts by California to use liens to go after the assets of local governments for cutting pensions. That was the finding of Eastern District U.S. Bankruptcy Judge Christopher Klein Wednesday in a decision in Stockton's bankruptcy case that could have wide-ranging consequences for bankrupt cities across the ...
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