CalPERS Appeals San Bernardino's Bankruptcy Eligibility

Law360, New York (October 23, 2013, 6:36 PM ET) -- California’s state pension system on Tuesday challenged a bankruptcy judge’s decision last month to allow the city of San Bernardino to move forward with its bankruptcy proceedings, saying the judge improperly glossed over key requirements for granting Chapter 9 protection.

The California Public Employees’ Retirement System filed papers in the bankruptcy court seeking leave to appeal U.S. Bankruptcy Judge Meredith A. Jury’s Sept. 17 ruling finding San Bernardino eligible for bankruptcy relief. CalPERS contends that Judge Jury construed the requirements for such protection too broadly and...
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