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.

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  • San Bernardino council backs bankruptcy plan that hammers bondholders
    LOS ANGELES (Reuters) - San Bernardino's council approved a bankruptcy exit plan on Monday night that seeks to virtually eliminate the southern California city's pension bond debt while paying Calpers, the state pension system, in full. The city council ...
    05/19/2015 - 1:26 am | View Link
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  • Bankrupt San Bernardino to halt payments to Calpers, bondholders
    SAN BERNARDINO, California (Reuters) - Bankrupt San Bernardino, California, voted on Monday to present a plan to a bankruptcy judge that seeks to balance its budget through deferring payments to the state's public employee pension fund and to the city's ...
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