SAN BERNARDINO, Calif. (AP) — The city of San Bernardino, Calif. has delayed a decision to declare a fiscal emergency to avoid mediation and head straight to federal bankruptcy.

The City Council voted Monday to delay the vote until Wednesday. Members expressed a desire for more time to look over financial information and talk to constituents.

The emergency declaration would let the city of 210,000 people avoid a neutral evaluation otherwise required under California law before filing for Chapter 9 bankruptcy protection.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.