The City of San Bernardino files petition for Chapter 9 Bankruptcy

Money - BSN

(Best Syndication News) - The City of San Bernardino announced that they have filed an emergency Chapter 9 Bankruptcy petition in the United States Bankruptcy Court for the Central District of California, Riverside Division. At this time, the City plans to continue to operate and provide the community essential services and have not reduced any services yet.

During the bankruptcy proceedings, the City officials will be working on a Pendency Plan that will outline their operational budget. The Pendency Plan may require the City to reduce services. The officials announced that they do not have any idea what this plan will be yet. However, an official announcement said that they will “remain committed to providing the services that are essential to its continued operation and the health and safety of the community.”

Interim City Manager Andrea Travis-Miller is anticipating that a proposed Pendency Plan will be available within the next three weeks for the Council to review.

The City will operate on the Pendency Plan while going through the bankruptcy process. The City officials will then start to develop the Plan of Adjustment. This plan will restructure the City’s finances to start moving it out of bankruptcy and back into a workable situation.

By: Dave Reddy

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