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Bankruptcy attorneys say Chapter 9 filings give the court wide latitude to cancel or cut back on promised pensions. Under the law, municipalities have the right to ask the Bankruptcy Court to determine whether labor agreements should be rejected ...

Prosecutors said that after filing for bankruptcy, Dykstra hid, sold or destroyed more than $400,000 worth of items without permission of a bankruptcy trustee. Dykstra is currently serving a three-year prison sentence after pleading no contest ...

They also cut wages and medical benefits. "The whole purpose of filing Chapter 9 is to avoid an uncontrolled chaotic situation," he said. "Bankruptcy provides the equivalent of a pause button. It retains services and provides structure so you ...

"Usually, both sides decide not to fight and just figure it out." Bankruptcy attorneys say Chapter 9 filings also give the court wide latitude to cancel or cut back on promised pensions. But Vallejo city officials decided to keep pension ...

Stockton, just 85 miles east of San Francisco, is on the verge of bankruptcy after its housing boom went bust. Officials of this city of nearly 300,000 people say the court filing for Chapter 9 bankruptcy is likely by Friday afternoon. When that happens ...