Business & Real Estate

May 14, 2014 5:27 PM

Stockton creditor challenges sanctity of public pensions, pulls CalPERS into court

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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