pensions (page 2)

  • Post

    Stockton, California’s bankruptcy – what about the pensions?

    Last week a judge confirmed the city of Stockton, California’s bankruptcy exit plan.  The Wall Street Journal covered the decision and highlights some questions many raise about public-sector bankruptcies. Stockton declared Chapter 9 bankruptcy in 2012, and it has since rewritten labor contracts and asked creditors for writedowns. Yet…
    Sarah Curry, February 17, 2015
  • Post

    Should States be allowed to go Bankrupt?

    We all know cities can file for bankruptcy.  Look at Detroit, and they aren’t the only municipality that has taken advantage of bankruptcy to clear their crushing financial obligations.  But federal law doesn’t allow states to go bankrupt.  A professor from the University of Pennsylvania Law School, David Skeel, has…
    Sarah Curry, February 17, 2015