Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Reuters) - A unit of insurer MBIA Inc challenged Stockton, Calif.’s eligibility for bankruptcy, saying the city’s decision not to ask for concessions from the California Public Employees’ Retirement System pension fund undermined its case.

The filing in bankruptcy court sets up a battle between creditors and the city which could determine whether Stockton is allowed court protection and could set precedent over whether and how cities, counties and the state can cut retirement benefits.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Dig Deeper



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.