Archive for the ‘ U.S. Bankruptcy Court ’ Category

LATimes: Stockton bankruptcy ruling will decide fate of public pensions

US Bankruptcy Court

By Marc Lifsher and Melody Petersen
October 29, 2014

In a closely watched case, a federal judge on Thursday is expected to decide whether the bankrupt city of Stockton can continue to pay employees generous pensions that soon could consume one-fifth of municipal revenues.

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The Sun: San Bernardino police union: Truce over

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 10/14/14, 11:39 PM PDT | Updated: 49 secs ago

The police officer association’s nearly yearlong truce with the city is over, the union’s attorney said Wednesday in a filing in U.S. Bankruptcy Court.

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Calpensions: Pensions still a puzzle in Stockton bankruptcy

Pieces to the Puzzle

By Ed Mendel
October 6, 2014

A federal judge ruled last week that Stockton’s CalPERS pensions can be cut in bankruptcy. But Stockton does not want to cut pensions, and the lone holdout creditor says it can be paid without cutting pensions.

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SacBee: Dan Walters: Bankruptcy judge lights fuse with Stockton pension ruling

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, Oct. 2, 2014 – 10:20 pm

It should have surprised no one that federal Bankruptcy Court Judge Christopher Klein declared that public employees’ pensions are not sacrosanct when their employers declare bankruptcy.

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Michael Hiltzik

Michael Hiltzik
October 2, 2014

The investment house Franklin Templeton’s effort to knock down the city of Stockton’s proposal to emerge from bankruptcy portrays the case as one in which Franklin is defending itself against three big, faceless adversaries.

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NYTimes: Bankruptcy Judge in California Challenges Sanctity of Pensions

US Bankruptcy Court

Stockton, Calif., faced a $1.6 billion termination fee from Calpers if it dropped out of the state pension system.

Restructuring & Bankruptcy
By Mary Williams Walsh
October 1, 2014 9:15 pmOctober 1, 2014 9:15 pm

A federal bankruptcy judge on Wednesday upended the widely held belief that public workers’ pensions have a special status in California that makes them impossible to cut, further chipping away at the idea that pensions are sacrosanct in a municipal bankruptcy.

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AP: Ruling lets bankrupt city cut pension benefits

judges-gavel

AP California News
Oct 2, 9:28 AM EDT

By DON THOMPSON
Associated Press

SACRAMENTO, Calif. (AP) — U.S. bankruptcy law allows the California city of Stockton to cut pension benefits because it can treat its obligations to the public retirement fund like other debts, a federal judge said in a ruling that could help clarify who gets paid first by financially strapped cities around the nation – pension funds or creditors.

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San Bernardino Seal

The City of San Bernardino may benefit from a recent ruling about paying pensions in the city of Stockton.

By Ryan Hagen, Press-Telegram
Posted: 10/01/14, 11:38 PM PDT |

A decision Wednesday by the judge at Stockton’s bankruptcy trial that allows bankrupt cities to treat the California Public Employees’ Retirement system like other debtors might open the door for other insolvent cities that could want to cut back on expensive pension obligations — including San Bernardino.

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The Sun: Detroit bankruptcy plan hearing shows contrast with San Bernardino

San Bernardino

Downtown San Bernardino. (File Photo)

By Ryan Hagen, The Sun
Posted: 09/20/14, 8:57 PM PDT | Updated: 58 secs ago

Hearings have begun on Detroit’s plan to exit bankruptcy, slightly more than a year after the distressed Motor City filed for bankruptcy — and at least six months before San Bernardino, which filed for bankruptcy a year before Detroit, expects to even come up with a plan.

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The Sun: Bankruptcy judge scales back San Bernardino’s proposed order

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 09/19/14, 4:12 PM PDT | Updated: 23 secs ago

RIVERSIDE >> U.S. Bankruptcy Judge Meredith Jury on Friday slightly dialed back the city’s declaration of victory at its previous hearing here, issuing a scaled-down order that still allows the city to reject its current contract with the firefighters union.

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Reuters: Bankrupt San Bernardino, California, can cut firefighter benefits, judge says

San Bernardino Seal

By Tim Reid
RIVERSIDE Calif. Thu Sep 11, 2014 7:51pm EDT

(Reuters) – The city of San Bernardino, California, may impose cuts to its firefighters overtime and pension benefits in a bid to reach a bankruptcy exit plan, the federal judge overseeing the case said on Thursday.

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The Sun: San Bernardino, police union reach contract deal

San Bernardino Seal

By Jim Steinberg, The Sun
Posted: 08/14/14, 8:29 PM PDT | Updated: 49 secs ago

SAN BERNARDINO >> The city and the San Bernardino Police Officers Association announced to U.S. Bankruptcy Judge Meredith Jury that they have reached a tentative long-term agreement, officials said.

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The PE: San Bernardino’s bankruptcy reaches two-year mark, quietly

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 07/31/14, 7:15 PM PDT |

SAN BERNARDINO >> At a certain age, people stop talking about birthdays, and so it is with the quiet second anniversary of the city’s filing for bankruptcy protection.

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Calpensions: Detroit-style pension cuts: could it happen here?

question-mark

By Ed Mendel
July 28, 2014

Bankrupt Detroit announced last week that current workers and retirees voted overwhelmingly to cut many pensions by 4.5 percent and to trim or eliminate cost-of-living adjustments.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Monday, Jul. 14, 2014 – 12:00 am

Ever since Stockton filed for bankruptcy two years ago, Judge Christopher Klein has strongly hinted that he’s willing – perhaps even eager – to declare that city employee pension obligations are debts that could be trimmed along with those of more conventional creditors.

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The Sun: San Bernardino bankruptcy case creeps forward

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 07/10/14, 7:29 PM PDT |

RIVERSIDE >> San Bernardino’s bankruptcy case crept forward Thursday with the setting of deadlines related to the city’s issues with the police and fire unions as officials work to piece together a plan that will take it out of bankruptcy.

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US Bankruptcy Court

By Dale Kasler
dkasler@sacbee.com
Published: Tuesday, Jul. 8, 2014 – 11:03 pm
Last Modified: Wednesday, Jul. 9, 2014 – 7:32 am

Government pensions were once considered untouchable, ironclad, off limits even if the employer went bankrupt.

On Tuesday, a federal bankruptcy judge in Sacramento inched closer to changing all that. Commenting during a hearing on Stockton’s bankruptcy case, U.S. Bankruptcy Judge Christopher Klein suggested that employees and retirees could have their pensions reduced to facilitate the city’s financial reorganization.

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San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 06/30/14, 9:17 PM PDT | Updated: 30 secs ago

SAN BERNARDINO >> The city passed its budget for the 2014-15 fiscal year Monday night, three hours before the year began.

The 5-2 vote — Councilmen John Valdivia and Benito Barrios opposing — came after warnings on one hand of disastrous effects in bankruptcy court if a full budget wasn’t passed by that deadline, and on the other of dire threats to the city from cuts contained in the budget.

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The Sun: Fire union accuses San Bernardino of ‘hiding’ money

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 06/28/14, 11:04 PM PDT | Updated: 1 min ago

SAN BERNARDINO >> The fire union continues to accuse the city of keeping $75 million “hidden in misleading or unmarked investment accounts” despite city officials’ position that the money was openly posted and legally can’t be used to prevent cuts to public services like the Fire Department.

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Calpensions: San Bernardino cuts deal to pay CalPERS debt

San Bernardino Sealcalpers

By Ed Mendel
Monday, June 23, 2014

Bankrupt San Bernardino announced an agreement with CalPERS last week to pay off an unprecedented pension debt owed for skipping payments to the pension fund for a year — $13.5 million, plus several million more in penalties and interest.

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The Sun: Bankruptcy court: San Bernardino close to deal with police

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 06/19/14, 8:09 PM PDT |

RIVERSIDE >> San Bernardino and police union officials think they’re within a month of an agreement, but the city is so far from progress with the firefighters union that a U.S. bankruptcy judge released that union from mediation Thursday.

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SacBee: CalPERS has interim agreement in San Bernardino bankruptcy case

San Bernardino Seal

By Dale Kasler
dkasler@sacbee.com
Published: Wednesday, Jun. 18, 2014 – 8:55 pm

CalPERS and bankrupt San Bernardino have reached an “interim agreement” that could head off a major legal battle over bankruptcy debts and the ironclad status of public pensions, the city reported.

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IEBusinessDaily: San Bernardino’s Future Rides on Bankruptcy Decision

Inland-Empire-Political-News-Political-Whispers

IE Business Daily

Saturday, June 14, 2014

Elections, Recalls, Charter Amendments, Labor Negotiations, and Pension Reform are all ideas bandied about in the effort to right the financial ship of the City of San Bernardino.

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Calpensions: Stockton bankruptcy judge may issue two rulings

Gavel-Legal

By Ed Mendel
Monday, June 9, 2014

Stockton filed a revised debt-cutting plan last week that could lead to a deal with a holdout creditor, Franklin bonds, possibly enabling the city to emerge from bankruptcy without cutting pensions.

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The Sun: CalPERS, San Bernardino agree to delay bankruptcy appeal

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 05/17/14, 10:10 PM PDT |

CalPERS has again agreed to push back its appeal of San Bernardino’s bankruptcy eligibility and cancel an August hearing in the 9th U.S. Circuit Court of Appeals, saying in a joint filing with the city that the delay is “critical to the success of the ongoing mediation.”

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SacBee: Dan Walters: Pensions back on the agenda in Stockton’s bankruptcy

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, May. 15, 2014 – 6:16 pm

From the onset of Stockton’s journey through bankruptcy, Judge Christopher Klein has implied, both through comments and rulings, that he sees it as a potential test of whether public employee pensions are debts that could be reduced.

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calpers

By Dale Kasler
dkasler@sacbee.com
Published: Wednesday, May. 14, 2014 – 10:50 pm

When the bankrupt city of Stockton unveiled its plan to reorganize its debts last fall, it spread the financial pain among a host of bondholders. CalPERS was spared, and a potentially bloody fight over the sanctity of pension benefits was avoided.

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The Sun: Mediation pace criticized in San Bernardino bankruptcy

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 05/08/14, 7:41 PM PDT |

RIVERSIDE >> Continued assurances from San Bernardino and CalPERS that mediation is going well, without further details, are threatening to wear out the patience of the city’s fire union, police union and perhaps the bankruptcy judge handling the case, it was reported in court Thursday.

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The Sun: CalPERS appeal of bankruptcy pushed back

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 04/21/14, 7:03 PM PDT |

Progress in confidential mediation between San Bernardino and the California Public Employees’ Retirement System is promising enough that an aggressive schedule for briefs in CalPERS’ appeal of the city’s bankruptcy has been pushed back.

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Calpensions: Pensions still cloud Stockton bankruptcy exit

Pension Reform

By Ed Mendel
Monday, April 21, 2014

With a new twist, Stockton’s plan to leave a huge pension debt untouched was still an issue last week as the city council, hoping to end a two-year bankruptcy, approved settlements for 95 percent of the claims.

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Calpensions: Vallejo bankrupt again? ‘We are not going there’

By Ed Mendel
Monday, March 17, 2014

The Vallejo city council last week voted to close a $5.2 million gap in the current budget, showing no alarm that in a five-year forecast the gap reopens, mainly driven by rising pension costs.

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The Sun: CalPERS can appeal San Bernardino bankruptcy eligibility

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 02/27/14, 8:12 PM PST |

San Bernardino’s largest creditor has permission from the 9th U.S. Circuit Court of Appeals to appeal a bankruptcy judge’s finding that the city is eligible for bankruptcy protection, raising the potential that the court could reverse the 2012 ruling that city officials then called vital for the city’s protection.

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SacBee: Moody’s warns bankrupt cities they must cut pension debts

Moody's Ratings

Capitol Alert
The latest on California politics and government
February 20, 2014

Moody’s Investors Services, a major bond rating house, warned Thursday that if bankrupt California cities don’t reduce their pension obligations, they risk returning to insolvency.

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The Sun: 2014 could be pivotal year for San Bernardino

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 12/31/13, 8:36 PM PST | Updated: 5 hrs ago

SAN BERNARDINO >> There’s a lot riding on 2014.

A new mayor will take office for the first time in eight years, along with at least two new members of a City Council that’s still shifting direction after a momentous November election. As supporters of both mayoral candidates say, that could either enable a renaissance or divert the bankrupt city toward even more problems, depending on what voters say in February.

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The PE: DETROIT: Bankruptcy ruling fuels speculation in San Bernardino

Cassie MacDuff

Cassie MacDuff

December 16, 2013; 05:47 PM

A Detroit judge’s ruling that public employee pensions can be modified just as other contracts can in bankruptcy sent shockwaves through San Bernardino.

To read column by Cassie MacDuff in The Press-Enterprise, click here.

The Sun: U.S. District judge certifies CalPERS appeal of San Bernardino bankruptcy

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 12/13/13, 12:04 PM PST |

LOS ANGELES >> U.S. District Judge Dolly Gee agreed Friday to let San Bernardino’s largest creditor appeal directly to the 9th Circuit Court of Appeals, opening another front in the battle between the city and the California Public Employees’ Retirement System.

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The Sun: San Bernardino, creditors cite progress on bankruptcy issues

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 12/10/13, 8:11 PM PST |

RIVERSIDE >> Progress in mediation, progress on fixing an unexpectedly thorny problem with retirement records, progress on producing financial documentation — all were reported in an unusually conflict-free hearing among the city and its creditors Tuesday in U.S. Bankruptcy Court.

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The Sun: Ruling in Detroit could affect San Bernardino bankruptcy case

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 12/08/13, 5:38 PM PST |

SAN BERNARDINO >> A Detroit bankruptcy judge’s decision that pensions can be cut in a bankruptcy case might increase the possibility that the same could be done here.

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pensions

By Ed Mendel
Monday, December 9, 2013

Following the city charter, a reluctant San Bernardino city council last week approved a police pay raise costing about $1 million, the second $1 million police salary increase since the city filed for bankruptcy last year.

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The PE: SAN BERNARDINO: Bankruptcy ruling could affect union pension agreements

Patrick Morris

San Bernardino Mayor Pat Morris / File Photo

December 03, 2013; 06:46 PM

A decision in Detroit’s bankruptcy case allowing pension benefits to be cut could have a major impact on San Bernardino’s attempts to get out of insolvency.

To read story by Imran Ghori in The Press-Enterprise, click here.

Dan Walters

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Wednesday, Dec. 4, 2013 – 12:00 am

A legal showdown over pension obligations in municipal bankruptcies was averted in both Vallejo and Stockton, largely because officials in both chose not to make that fight.

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By Dale Kasler
dkasler@sacbee.com
Published: Tuesday, Dec. 3, 2013 – 9:13 am

It was a gold-plated promise: A career in government meant a safe and sound pension, no matter what.

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Calpensions: Would Stockton plan avoid Vallejo-like deficit?

By Ed Mendel
Mondaya, November 25, 2013

A federal judge last week set a hearing on approval of Stockton’s plan to exit bankruptcy for next March 5. But the hearing could turn into a multi-day trial if the city can’t cut a deal with the last holdout creditor, two Franklin bond funds.

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SacBee: CalPERS loses round in bankruptcy fight with San Bernardino

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Sunday, Nov. 17, 2013 – 4:53 pm
Last Modified: Monday, Nov. 18, 2013 – 9:01 am

CalPERS suffered a setback in its fight with the city of San Bernardino, which owes the pension fund more than $14 million after filing for bankruptcy.

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The Sun: Judge dismisses CalPERS appeal of San Bernardino bankruptcy

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 11/15/13, 6:14 PM PST | Updated: 3 hrs ago

RIVERSIDE >> U.S. Bankruptcy Judge Meredith Jury on Friday dismissed CalPERS’ request that she certify the pension giant’s direct appeal to the 9th U.S. Circuit Court of Appeals, a decision that San Bernardino officials have said will save the city time and money in its already sprawling fight with CalPERS.

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The Sun: Bankruptcy judge to decide on CalPERS appeal by Friday

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 11/13/13, 7:36 PM PST |

RIVERSIDE >> U.S. Bankruptcy Judge Meredith Jury said Wednesday she will decide by Friday whether to certify CalPERS’ attempt to appeal her decision — that San Bernardino is eligible for bankruptcy protection — to the 9th U.S. Circuit Court of Appeals.

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Calpensions: No ceasefire in CalPERS war with San Bernardino

calpers

By Ed Mendel
Tuesday, November 12, 2013

CalPERS made two court filings last month after the San Bernardino city council approved a confidential draft of a plan to exit bankruptcy, as if stepping up opposition in reaction to something in the plan.

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The Sun: CalPERS backs state in suit against San Bernardino

calpers

By Ryan Hagen, The Sun
Posted: 11/01/13, 6:56 PM PDT |

SAN BERNARDINO >> The city’s largest creditor on Friday added its firepower to another legal adversary that, like CalPERS itself, is trying to appeal a bankruptcy court’s decision favoring the city.

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SacBee: CalPERS keeps pressure on San Bernardino

calpersSan Bernardino Seal

By Dale Kasler
dkasler@sacbee.com
Published: Wednesday, Oct. 23, 2013 – 4:31 pm
Last Modified: Thursday, Oct. 24, 2013 – 7:44 am

Pursuing San Bernardino for more than $14 million in overdue pension payments, CalPERS is renewing its challenge to the troubled city’s right to file for bankruptcy protection.

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SacBee: CalPERS renews bankruptcy fight with San Bernardino

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Oct. 17, 2013 – 6:28 pm
Last Modified: Friday, Oct. 18, 2013 – 6:40 am

Stepping up pressure on the city of San Bernardino, CalPERS said Thursday it will appeal a judge’s ruling that allowed the city to file for bankruptcy.

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The Sun: San Bernardino passes ‘terms sheet’ for its bankruptcy

By Ryan Hagen, The Sun
Posted: 10/08/13, 12:00 AM PDT | Updated: 12 hrs ago

SAN BERNARDINO >> The City Council approved a “term sheet” Monday night, a draft of the final plan of adjustment that will guide the city in mediation with its creditors and a retired bankruptcy judge.

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The Sun: San Bernardino bankruptcy hearing: Retiree payments still unsettled

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 10/02/13, 6:45 PM PDT |

RIVERSIDE >> Employees’ retirement records still don’t reflect time worked since January, meaning those who retired now would receive retirement benefits as though they had worked eight months less, an attorney for the California Public Employees’ Retirement System said in U.S. Bankruptcy Court on Wednesday.

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Calpensions: Stockton may dodge pension battle if deals hold

pensions

By Ed Mendel
Monday, September 30, 2013

Chances of the Stockton bankruptcy producing a landmark ruling to cut pensions dimmed last week, when the city announced a deal with one bond insurer and a tentative deal with another one.

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The Sun: San Bernardino hears residents’ advice on bankruptcy

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 09/23/13, 10:25 PM PDT | Updated: 24 secs ago

SAN BERNARDINO >> A special meeting Monday to gather residents’ input before the city presents a bankruptcy plan to the court drew suggestions ranging from reforming the charter to asking people to donate points from their credit cards to the city.

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The PE: SAN BERNARDINO: Bankruptcy studied in new report

San Bernardino Seal

September 20, 2013

San Bernardino is one of six cities that were studied by the Centers on the Public Service at George Mason University in Fairfax, Virginia in reports released Friday, Sept. 20, looking at the financial challenges facing American cities.

To read post by Imran Ghori in The PE Political Empire Blog, click here.

The PE: SAN BERNARDINO: City current on payments to infrastructure bank

San Bernardino Seal

September 17, 2013; 05:31 PM

SACRAMENTO — The city of San Bernardino, even as it pursues bankruptcy protection, continues to make principal and interest payments on more than $5.3 million owed on leases with the state’s infrastructure bank, officials said Tuesday, Sept. 17.

To read story by Jim Miller in The Press Enterprise, click here.

SacBee: Dan Walters: Municipal bankruptcies confront huge issues

Dan Walters

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Monday, Sep. 16, 2013 – 12:00 am

As federal bankruptcy judges deal with the insolvencies of two medium-size California cities, Stockton and San Bernardino, and the huge fiscal collapse of Detroit, they are confronting an issue with almost incalculable impacts – whether public employee pensions are ordinary debts or enjoy special protections.

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The PE: SAN BERNARDINO: Plan for creditors due next month

U.S. Bankruptcy Court

U.S. Bankruptcy Court in Riverside. (Staff Photo)

September 04, 2013; 05:39 PM

San Bernardino must prepare a draft plan by Oct. 15 outlining how it expects to deal with its creditors as city officials get ready for mediation, a federal bankruptcy judge ruled Wednesday, Sept. 4.

To read story by Imran Ghori in The Press Enterprise, click here.

SacBee: San Bernardino bankruptcy ruling is a blow to CalPERS

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Wednesday, Sep. 4, 2013 – 12:00 am
Last Modified: Wednesday, Sep. 4, 2013 – 7:41 am

Over objections from CalPERS, a judge last week declared that the city of San Bernardino is eligible for bankruptcy, paving the way for a historic showdown over the sanctity of public employee pensions.

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Calpensions: CalPERS vs. San Bernardino: What do they want?

calpersSan Bernardino Seal

By Ed Mendel
Tuesday, September 3, 2013

A federal judge ruled San Bernardino eligible for bankruptcy last week, despite opposition from CalPERS, and then pressed the city to promptly deliver something the big pension fund wanted prior to the ruling: a plan to cut debt and exit bankruptcy.

Read the rest of this entry »

The Sun: San Bernardino focus shifts to ‘plan of adjustment’

San Bernardino Seal

The city of San Bernardino was in court on Wednesday to hear a decision on the Chapter 9 bankruptcy eligibility.

By Ryan Hagen, The Sun
Posted: 08/29/13, 7:19 PM PDT | Updated: 10 hrs ago

SAN BERNARDINO >> The relief city officials felt when a federal judge granted them bankruptcy protection on Wednesday didn’t last long before that same judge and many of their constituents asked a pressing question: Now what?

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The Sun: San Bernardino eligible for bankruptcy protection, rules bankruptcy judge

Pat Morris

San Bernardino Mayor Pat Morris arrives on Wednesday to the United States Bankruptcy court in Riverside. A tentative ruling by a Federal judge grants San Bernardino bankrupty protection. (Gabriel Luis Acosta/Staff Photographer)

By Ryan Hagen, The Sun
Posted: 08/28/13, 1:28 PM PDT | Updated: 3 hrs ago

RIVERSIDE >> A year of limbo ended Wednesday when San Bernardino was granted bankruptcy protection, moving the city into the next stage of its attempt to reorganize and regain solvency.

Read the rest of this entry »

By Joe Nelson, San Bernardino Sun
Posted: 08/28/13, 7:26 PM PDT |

Officials and concerned citizens said Wednesday that a federal judge’s tentative ruling qualifying San Bernardino for Chapter 9 bankruptcy is a good start, but remained wary of the city repeating the same mistakes.

Read the rest of this entry »

The Sun: San Bernardino’s bankruptcy eligibility to be decided at hearing

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 08/27/13, 8:04 PM PDT |

RIVERSIDE >> A hearing today isn’t expected to be the end of the city’s yearlong trial in bankruptcy court, or even the beginning of the end, but it is perhaps the end of the beginning.

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Reuters: Judge to rule on San Bernardino bankruptcy, pensions loom

San Bernardino Seal

By Tim Reid
LOS ANGELES | Sun Aug 25, 2013 8:07am EDT

(Reuters) – The city of San Bernardino is expected to learn on Wednesday if it is eligible for bankruptcy protection despite the opposition of California’s powerful public pension system – an important test for the federal law used by Detroit and other U.S. cities burdened by pension payment costs.

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The PE: SAN BERNARDINO: Judge denies redevelopment fund protection

U.S. Bankruptcy Court

August 22, 2013; 07:19 PM

A federal bankruptcy judge denied a request on Thursday, Aug. 22, by San Bernardino officials to block state efforts to collect $15.2 million in disputed redevelopment funds from the city.

To read story by Imran Ghori in The Press Enterprise, click here.

Jim Penman

San Bernardino City Attorney Jim Penman

August 06, 2013; 05:25 PM

San Bernardino city officials expect a federal bankruptcy judge to settle a dispute with the state over the city’s handling of former redevelopment funds and properties, San Bernardino City Attorney Jim Penman said Monday, Aug. 5.

To read story by Imran Ghori in The Press Enterprise, click here.

The Sun: San Bernardino ends an objection to bankruptcy, hires parks director

San Bernardino Seal

Ryan Hagen, Staff Writer
Posted: 08/05/2013 09:45:34 PM PDT

SAN BERNARDINO — The City Council unanimously approved an agreement with the union representing middle managers Monday night, ending that union’s objection to the city’s eligibility for bankruptcy protection.

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The PE: SAN BERNARDINO: Union agrees to salary, benefit cuts

Patrick Morris
San Bernardino Mayor Pat Morris (Stan Lim/Staff Photographer)

August 02, 2013; 04:55 PM

A union representing 46 mid-management San Bernardino city employees is expected to drop its objection to the city’s bankruptcy with its approval of a new contract.

To read story by Imran Ghori in The Press Enterprise, click here.

The PE: SAN BERNARDINO: Judge to appoint bankruptcy mediator

U.S. Bankruptcy Court

July 31, 2013; 07:05 PM

A federal judge announced on Wednesday, July 31, that she plans to appoint a mediator in the San Bernardino bankruptcy case, which would allow the city to begin discussions with its creditors on a plan to settle its debts.

To read story by Imran Ghori in The Press Enterprise, click here.

The Sun: Blame game on how San Bernardino came to file for bankruptcy

San Bernardino City Hall

A view of City Hall in downtown San Bernardino. San Bernardino officials first discussed bankruptcy as an imminent threat at a City council meeting in August 2010. How things went from bad to worse, culminating in the city’s filing for bankruptcy protection nearly a year ago, is a matter of debate. (File Photo)

Ryan Hagen, Staff Writer
Posted: 07/27/2013 06:33:01 PM PDT

Photo gallery: San Bernardino a year later
View: Timeline

SAN BERNARDINO — With the one-year anniversary of the city’s bankruptcy filing and a pivotal court hearing on whether the city is eligible for that protection, both coming in August, city officials are looking for lessons from the August 2010 City Council meeting where bankruptcy was first discussed as an imminent threat.

But they can’t agree how things went wrong from there.

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CapitolWeekly: In Stockton, bond insurers are back at the table

By Ed Mendel | 07/22/13 5:00 AM PST

Bond insurers who walked away from mediation last year before Stockton filed for bankruptcy are at the table this summer. A deal could avoid a precedent-setting legal showdown on whether public pensions can be cut in bankruptcy.

Read the rest of this entry »

SacBee: Dan Walters: Bankruptcy zeroes in on pensions

Dan Walters

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Monday, Jul. 22, 2013 – 12:00 am | Page 3A
Last Modified: Monday, Jul. 22, 2013 – 6:22 am

The state constitutions of Michigan and California have almost identical provisions prohibiting what lawyers call “impairment of contract.”

Read the rest of this entry »

pensions

By Ed Mendel
Monday, July 22, 2013

Bond insurers who walked away from mediation last year before Stockton filed for bankruptcy are at the table this summer. A deal could avoid a precedent-setting legal showdown on whether public pensions can be cut in bankruptcy.

Read the rest of this entry »

The Sun: Bankruptcy judge pushes against CalPERS

San Bernardino Seal

By Ryan Hagen
ryan.hagen@ inlandnewspapers.com @sbcitynow on Twitter
Posted: 07/17/2013 07:26:18 PM PDT

RIVERSIDE >> In a bankruptcy hearing Wednesday in which both San Bernardino and its main creditor accused the other of misrepresenting important facts, the judge overseeing the case pushed back against CalPERS on several points.

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The Sun: Retired San Bernardino employees form group to protect pensions

San Bernardino Seal

Joe Nelson, Staff Writer
Posted: 07/14/2013 06:18:42 PM PDT

Retired employees from the city of San Bernardino have formed their own grassroots group, the San Bernardino Retired Public Employees Association, to fight to protect their pensions in the wake of the city’s bankruptcy filing.

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The Sun: San Bernardino: A year under bankruptcy cloud

San Bernardino City Hall

Ryan Hagen, Staff Writer
Posted: 07/09/2013 09:37:01 PM PDT

Special Section: San Bernardino

SAN BERNARDINO — A year ago today, City Council members surprised many residents by making what some described as the hardest decision they would make while in office: They authorized city officials to file for Chapter 9 bankruptcy protection.

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The Sun: San Bernardino seeks ruling to end dispute over bankruptcy eligibility

San Bernardino Seal

Ryan Hagen, Staff Writer
Posted: 07/08/2013 06:54:00 PM PDT

SAN BERNARDINO — It’s time to decide once and for all whether the city is bankrupt, officials say in court documents filed late Friday, seeking to end what city officials see as months of expensive side discussions.

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Calpensions: CalPERS wants lien on local government assets

calpers

By Ed Mendel
Monday, June 24, 2013

Bankrupt San Bernardino skipped its payments to CalPERS this fiscal year, an unpaid bill totaling more than $13 million, and exposed a weakness in the pension system’s legal power to collect from deadbeats.

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The Sun: San Bernardino bankruptcy process accelerates

San Bernardino Seal

By Ryan Hagen
ryan.hagen@ inlandnewspapers.com @sbcitynow on Twitter
Posted: 06/05/2013 08:06:25 PM PDT

Special Section: San Bernardino

RIVERSIDE– A federal bankruptcy judge took several steps Wednesday to accelerate San Bernardino’s bankruptcy case, with a decision on whether the city’s eligible for bankruptcy possible this summer.

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The Sun: CalPERS questions San Bernardino’s good faith

calpers

Ryan Hagen, Staff Writer
Posted: 06/04/2013 08:07:46 PM PDT

SAN BERNARDINO — The city’s largest creditor is again questioning the city’s good faith — and therefore its eligibility for bankruptcy protection — as the California Public Employee Retirement System and the city head into bankruptcy court Wednesday.

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Sacto BusinessJournal: CalPERS alleges attorney misconduct

calpers

Mark Anderson, Staff Writer
Sacramento Business Journal
May 22, 2013, 3:00am PDT

The California Public Employees’ Retirement System is asking federal bankruptcy courts to disqualify a law firm from participating in the municipal bankruptcy proceedings of San Bernardino and Stockton because the firm allegedly hired attorneys away from a firm that was representing the pension fund giant.

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SacBee: CalPERS says insolvent San Bernardino has cash to pay its bill

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, May. 9, 2013 – 12:00 am | Page 7B

CalPERS says the insolvent city of San Bernardino has enough money to pay its past-due bill to the giant pension fund.

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The Sun: San Bernardino, creditors point to progress in bankruptcy court

San Bernardino Seal

Ryan Hagen, Staff Writer
Posted: 05/07/2013 07:06:07 PM PDT

The city’s financial situation is clearer and many disagreements about what documents to share have been resolved, San Bernardino’s attorney and those objecting to its bankruptcy eligibility said Tuesday in U.S. Bankruptcy Court in Riverside.

Again.

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Calpensions: CalPERS won’t refinance San Bernardino debt

calpers

By Ed Mendel
Monday, May 6, 2013

Bankrupt San Bernardino’s new budget restarts CalPERS payments in July after skipping about $13 million in payments this fiscal year. But the next step in the city plan, getting CalPERS to refinance the unpaid bill, is a no-go at this point.

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