Sunday, April 7, 2013

Stockton bankruptcy decision only the beginning


SACRAMENTO, Calif. — For the people of Stockton, a federal judge’s anticipated decision Monday on the city’s bankruptcy petition will affect their day-to-day lives for decades to come.

But the Chapter 9 bankruptcy case also is being closely watched nationally for the potential precedent-setting implications: whether federal bankruptcy law trumps the California law that says debts to the state pension fund must be honored.

Read more: Stockton bankruptcy decision only the beginning

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