Banking
Jul. 13, 2012
San Bernardino vote to pursue bankruptcy surprises some
When the San Bernardino City Council voted to pursue bankruptcy on Tuesday - becoming the third California municipality to opt for a Chapter 9 proceeding in less than a month - the move surprised some observers.
Daily Journal Staff Writer
When the San Bernardino City Council voted to pursue bankruptcy on Tuesday - becoming the third California municipality to opt for a Chapter 9 proceeding in less than a month - the move surprised some observers.
Unlike Stockton and Mammoth Lakes before it, San Bernardino appears to have skipped the drawn-out negotiation process required by a recent California law, which could spur legal challenges. Ass...
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