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California Central
A California federal judge on Monday denied an appeal brought by San Bernardino residents who had sought to get around the legal shield protecting the city while it's in bankruptcy in order to pursue a lawsuit over a surprise police raid that was carried out on their apartment complex without a criminal search warrant.
Holders of nearly $14.2 million in civil rights claims against the city of San Bernardino, California, on Wednesday objected to their proposed treatment under the city's Chapter 9 recovery plan, saying they shouldn't be lumped in with general unsecured creditors who stand to receive a 1 percent recovery on their claims.
San Bernardino officials on Monday defended the city's modified bankruptcy plan that included a proposal to spend more than $170 million to modernize its police force after a challenge from creditors, telling a California judge weeks after a mass shooting that its current infrastructure is not adequate for the city's crime-fighting needs.
A Luxembourg bank that holds $56.8 million in San Bernardino, California, debt objected Thursday to the city's proposed reorganization plan, saying it snubs bondholders and doesn't provide viable solutions to the city's fiscal problems.
A Luxembourg bank and New York insurer that hold bonds for the bankrupt city of San Bernardino moved Monday to appeal a California bankruptcy judge's recent dismissal of their suit, which sought to tie payments to the California Public Employees' Retirement System with bondholder payouts.
San Bernardino, California plans to pay pension bondholders just 1 percent of the $50 million owed them as the cash-strapped city struggles to keep even basic public services, according to its long-awaited Chapter 9 recovery plan released on Thursday.
A California bankruptcy judge on Tuesday tossed a suit by a Luxemburg bank and insurer Ambac Assurance Corp. bondholders for bankrupt San Bernardino, rejecting their bid to get paid simultaneously with the city's biggest creditor: the California Public Employees Retirement System.
A California federal judge had only bad news Monday for San Bernardino's firefighters, who are fighting for better pension benefits within the city's bankruptcy, as he affirmed two bankruptcy court rulings and threw out a third item, allowing a litigation stay to remain in effect for now.
Bankrupt San Bernardino's firefighters sued the city on Thursday over what they say was a second unilateral modification of their terms of employment after the first unilateral modification was rejected.
Creditors of San Bernardino, California, on Wednesday challenged the bankrupt city's plan to satisfy 100 percent of the retiree benefits it owes, claiming that obligations to the California Public Employees' Retirement System can't be prioritized over $50 million in pension-related debt.