July 8, 2011 -- Professor Lynn LoPucki commented on a lawsuit accusing businessman Alfred Villalobos of bribing officials of the California Public Employees' Retirement System. His comments appear in a Sacramento Bee article.
But a bankruptcy law expert, Lynn LoPucki, said it's unclear whether the state could collect any money from Villalobos even if it wins the lawsuit. That's because Villalobos' assets would normally be controlled by the bankruptcy judge and would be divided among all of his creditors, LoPucki said.
The new ruling creates "kind of a traffic accident here," said LoPucki, a law professor at UCLA. It could create a fight over "who gets paid and how much," he said.
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