April 29, 2016
According to U.S. Bankruptcy Judge Meredith Jury, San Bernardino’s municipal bankruptcy case is nearing closure.
The almost four-year-old case is in its final stages, with a hearing set for June 16 to review its disclosure statement. Since most of the city’s creditors have already confirmed their support, the hearing should go smoothly. Judge Jury said, “We are not Detroit, we are not Stockton; we came into this case in a very different posture, and therefore the fact that it took much longer to get to confirmation was to be expected.”
There are only a few pending items that the city must still address, including how it will handle lawsuits of more than $1 million filed against it (personal injury claims and civil rights lawsuits), and how it will handle benefits for retirees.