San Bernardino, California, approves Chapter 9 bankruptcy filing
SAN BERNARDINO, Calif., July 18
SAN BERNARDINO, Calif., July 18 (Reuters) - San Bernardino's city council authorized a bankruptcy filing for the city on Wednesday after declaring a fiscal emergency to pave the way for the community east of Los Angeles to file for Chapter 9 protection without first holding talks with its creditors.
The city will take about 30 days to make its filing, most likely in U.S. Bankruptcy Court in Riverside, California, said City Attorney James Penman.
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Scots spurn independence in historic vote, devolution battle begins |
- Alibaba surges 38 percent on massive demand in market debut |
- Eight bodies found after attack on Guinea Ebola education team
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State |