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Monday, October 29, 2012

''California Pension Fund Challenges San Bernadino's Right to Bankruptcy''

From Governing.com
 

''Facing a direct challenge from a city that won't pay its bills, CalPERS is firing back.

CalPERS formally challenged the city of San Bernardino's right to file for bankruptcy protection after the city fell behind on $5.2 million in payments.

The powerful pension fund, in a lengthy court filing, suggested that San Bernardino is trying to use the bankruptcy laws to get out of paying its bills.''

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