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October 23, 2013
California's state pension system on Tuesday challenged a bankruptcy judge's decision last month to allow the city of San Bernardino to move forward with its bankruptcy proceedings, saying the judge improperly glossed over key requirements for granting Chapter 9 protection.
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September 18, 2013
A California bankruptcy judge granted judgment in favor of the city of San Bernardino, Calif., on Tuesday, rejecting protests from the California Public Employees' Retirement System and finding that the city is eligible for Chapter 9 bankruptcy relief and can begin proceedings.
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August 30, 2013
A California federal judge's Wednesday ruling that the city of San Bernardino could remain under bankruptcy protection based on its insolvency and lack of alternatives sets a low bar for Chapter 9 eligibility and boosts distressed municipalities' leverage in prebankruptcy negotiations with creditors including pension funds, lawyers say.
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August 28, 2013
A California bankruptcy judge reportedly ruled Wednesday that the beleaguered city of San Bernardino, Calif., is eligible to remain under Chapter 9 bankruptcy protection, despite protests from the state's pension fund for public employees.
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August 07, 2013
The city of San Bernardino told a California bankruptcy judge Tuesday that it and the San Bernardino Public Employees Association had reached a tentative deal under which the city won't reject collective bargaining agreements and the union won't oppose the bankruptcy protection.
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August 05, 2013
The California Public Employees' Retirement System on Friday asked a federal judge to stop San Bernardino, Calif., from proceeding with its municipal bankruptcy, arguing that the city's failure to plan should bar it from insolvency protection.
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July 11, 2013
A group of bondholders and bond insurers asked a California bankruptcy judge Thursday to let San Bernardino, Calif., continue with its Chapter 9 case, siding with the insolvent city in a fight against creditors who contend it is ineligible for federal protection.
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June 21, 2013
National Public Finance Guarantee Corp. has retained Weil Gotshal & Manges LLP to represent it in the Chapter 9 bankruptcy proceedings of San Bernardino and Stockton, Calif., after a judge disqualified Winston & Strawn LLP from representing the bond insurer in the San Bernardino matter, it said Friday.
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June 13, 2013
Winston & Strawn LLP was reportedly disqualified Thursday from representing bond insurer National Public Finance Guarantee Corp. — a creditor in the San Bernardino, Calif., bankruptcy — after the California Public Employees' Retirement System claimed the firm had hired attorneys who switched sides after representing CalPERS.
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June 07, 2013
The California Public Employees' Retirement System on Thursday defended its efforts to disqualify Winston & Strawn LLP from Chapter 9 bankruptcies in two California cities, arguing a creditor had misinterpreted California law when it said side-switching at the law firm didn't represent an "extreme" conflict.