San Bernardino, Creditors Point to Progress in Bankruptcy Court

May 7, 2013 – In The News
The San Bernardino Sun

San Bernardino’s financial situation has become clearer and the numerous disagreements regarding what documents to share have been resolved, according to the city’s attorney and those objecting to its bankruptcy eligibility.

Despite claims that the city has more money than it identified when filing bankruptcy in January, City Attorney James F. Penman stressed that the city would not go through this trouble if the claim was merely a sham.

While the city’s bankruptcy attorney assured Judge Meredith Jury that the city was ready for a hearing to decide whether it was eligible for bankruptcy, CalPERS attorney Michael Lubic requested that more information was needed. As a result, Jury did not schedule a hearing.

"I think the judge is continuing to be very patient, and I guess we wait a few weeks to see where things go next," said Michael Sweet.

The parties will appear in court June 5 at 1:30 p.m.