California’s San Bernardino Votes to Declare Bankruptcy
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San Bernardino, whose government is under criminal investigation, will become the latest California municipality to seek court protection from creditors after the City Council voted for an emergency bankruptcy.
A Chapter 9 petition may be entered in the U.S. Bankruptcy Court in Riverside soon, City Attorney James Penman said yesterday after the 5-2 vote. He didn’t provide a specific time. The council declared a fiscal emergency to hasten the process.