Bankruptcy
Jul. 11, 2014
Judge mulls employee pension 'haircut' in Stockton bankruptcy
The federal judge in Stockton's bankruptcy case implied late Tuesday that he's sympathetic to arguments that public employee pensions can be modified like any other debt.
Daily Journal Staff Writer
SACRAMENTO - The federal judge in Stockton's bankruptcy case implied late Tuesday that he's sympathetic to arguments that public employee pensions can be modified like any other debt.
If Judge Christopher Klein of the Eastern District rules that way, it could change the municipal financing landscape nationwide, putting public employee pensioners in the same spot as private creditors when a city ...
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