Los Angeles Business Journal

San Bernardino Plans to File for Bankruptcy

Thursday, July 19, 2012

The San Bernardino City Council voted 5-2 on Wednesday to declare a fiscal emergency, with plans to file for bankruptcy within 30 days. Southern California Public Radio reports that the vote enables the city to gain court protection from creditors earlier than permitted under a state law, which otherwise mandates the city spend 60 days mediating with employee unions and creditors.