Recent Posts

Steel Cage Match Between CALPERS and Bond Investors Continues in San Bernardino Chapter 9 Case
Posted on 10 Jan 2013 by Kelley Drye & Warren LLP

by Ben Feder The battle in California municipal bankruptcies between bond investors and Calpers , the California public employee pension system, began in the Stockton Chapter 9 bankruptcy case and continues unabated in the bankruptcy case of San... Read More

Citing $1 Billion In Debt, San Bernardino, Calif., Files For Chapter 9 Bankruptcy
Posted on 2 Aug 2012 by LexisNexis® Mealey's™ Legal News

RIVERSIDE, Calif. - (Mealey's) The City of San Bernardino, Calif., filed its much-anticipated petition for Chapter 9 bankruptcy in the evening of August 1 in the U.S. Bankruptcy Court for the Central District of California, citing more than $1... Read More

Are California’s 'Charter Cities' Bankruptcy Prone?
Posted on 23 Jul 2012 by State Net

The last three major California cities to file for bankruptcy or announce plans to do so - including Stockton last month and San Bernardino two weeks ago - have something in common: They are all "charter cities." They have their own constitutions... Read More

Chapter 9 Bankruptcy Imminent as San Bernardino Declares Fiscal Emergency
Posted on 19 Jul 2012 by LexisNexis® Mealey's™ Legal News

SAN BERNARDINO, Calif. - (Mealey's) The San Bernardino City Council on July 18 voted 5-2 to declare a fiscal emergency, which allows it to file Chapter 9 bankruptcy without first negotiating with its creditors. City officials said they expect... Read More