San Bernardino Seeks Bankruptcy Protection

San Bernardino, facing the possibility of missing payroll, becomes California's third city in weeks to authorize a bankruptcy filing.San Bernardino on Tuesday became the third California city in less than a month to seek bankruptcy protection, with officials saying the financial situation had become so dire that it could not cover payroll through the summer.

BING NEWS:
  • Exclusive: San Bernardino has defaulted on $10 million in bond payments
    "Down the road, the city may find that the capital market is unavailable to it or that it will be penalized at a very high rate when it seeks to borrow," he said. San Bernardino, a city of 205,000 located 65 miles east of Los Angeles, declared bankruptcy ...
    03/17/2015 - 10:42 am | View Link
  • Bankrupt San Bernardino seeks renegotiation of Calpers debt
    San Bernardino's interim city manager released the city's "pendency plan" - in effect its operating budget while it seeks bankruptcy protection under Chapter 9 of the bankruptcy code. As part of the plan, the city seeks a renegotiation of its debt to the ...
    11/19/2012 - 4:48 pm | View Link
  • San Bernardino seeks bankruptcy protection
    San Bernardino on Tuesday became the third California city in less than a month to seek bankruptcy protection, with officials saying the financial situation had become so dire that it could not cover payroll through the summer. The unexpected vote came at ...
    07/11/2012 - 2:37 am | View Link
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