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San Bernardino Seeks Municipal Bankruptcy Protection

Friday, 03 August 2012 02:13
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San Bernardino, California, filed an emergency petition for municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code on Aug. 1, 2012.  The city of about 210,000 residents approximately 65 miles (104 km) east of Los Angeles, estimated assets and debts of more than $1 billion in the bare-bones petition filed in U.S. Bankruptcy Court, Central District of California.

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