Judge rules loss could be imposed on Calpers in Stockton bankruptcy

[riky]

Judge rules loss could be imposed on Calpers in Stockton bankruptcy

<p><a href="http://news.yahoo.com/judge-set-rule-calpers-fits-stockton-bankruptcy-193913022--sector.html"><img src="http://l1.yimg.com/bt/api/res/1.2/LBkjJA1Rv_t.Vjcx1KRQeg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9Njk7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-10-01T215805Z_2_LYNXNPEA9021E_RTROPTP_2_MUNICIPALS-STOCKTON.JPG" width="130" height="86" alt="A view of downtown Stockton, California is reflected in a window" align="left" title="A view of downtown Stockton, California is reflected in a window" border="0" /></a>By Robin Respaut SACRAMENTO Calif. (Reuters) - The U.S. bankruptcy judge overseeing Stockton, California's municipal bankruptcy trial on Wednesday ruled that the state's public employee retirement system, known as Calpers, could be forced to absorb losses along with other creditors. U.S. Bankruptcy Judge Christopher Klein said the city's contract with the California Public Employees' Retirement System could be rejected. While the judge ruled the city may impose losses on Calpers, he has not yet ruled that it must do so as part of its financial restructuring. ...</p><br clear="all"/>

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