San Bernardino Case May Set Venues For Future CalPERS Fights

Law360, San Diego (December 4, 2012, 11:07 PM EST) -- The California Public Employees’ Retirement System has asked a bankruptcy court for permission to sue the bankrupt city of San Bernardino in state court, and the court's decision could dictate where future disputes over contractual obligations to the nation’s largest public pension fund play out, experts said Tuesday.

After the San Bernardino city council last week voted to present to a bankruptcy judge a plan that would defer payments to CalPERS and bondholders and cut spending by $26 million, CalPERS responded by lodging a motion for...
To view the full article, register now.

Related

Sections

Case Information

Case Title

City of San Bernardino, California


Case Number

6:12-bk-28006

Court

California Central

Nature of Suit

Date Filed

August 1, 2012

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.