San Bernardino Bankruptcy OK Gives Troubled Cities Leverage
August 30, 2103
"San Bernardino Bankruptcy OK Gives Troubled Cities Leverage"
Farella Braun + Martel's Gary Kaplan comments on a California federal judge’s ruling that the city of San Bernardino could remain under bankruptcy protection based on its insolvency and lack of alternatives. "The ruling that San Bernardino is eligible under Chapter 9 protection is important for other municipalities filing for bankruptcy because it indicates there is a relatively low threshold to stay in Chapter 9," said Kaplan.
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