Those who have filed claims against the city would receive 1 percent of what they’re owed under the insolvency proposal
Published: Jan. 22, 2016
Updated: Jan. 23, 2016 – 9:06 p.m.
The city of San Bernardino hopes that a provision of its bankruptcy-exit plan will erase more than $49 million from the books by allowing it to pay only 1 percent – $500,000 – to its unsecured creditors.
To read story by Brian Rokos in The Press-Enterprise, click here.