RIVERSIDE, Calif. (AP) — A U.S. bankruptcy judge derailed efforts by California's giant pension fund to get paid before other creditors in the city of San Bernardino's bankruptcy Friday, as creditors lined up to oppose the debt-ridden city's eligibility for Chapter 9 bankruptcy protection.
A California Public Employees' Retirement System spokesman told the Wall Street Journal that Judge Meredith Jury in Riverside ruled that the millions of dollars in contributions the city owes may have to be paid back as part of the city's final reorganization plan.
A spokesman for the city could not immediately be reached.
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