Besieged San Bernardino Postpones Fiscal Emergency Vote

Law360, New York (July 17, 2012, 2:05 PM EDT) -- The San Bernardino City Council on Monday voted to delay the financially troubled municipality's declaration of a fiscal emergency that would fast-track the California city's bankruptcy proceedings, according to local news reports.

The San Bernardino Sun reported that the seven members of the City Council unanimously decided to hold off on determining whether the city should take such a measure — a decision that, if enacted, would allow San Bernardino to avoid the lengthy mediation entanglement that typically accompanies municipal bankruptcy. The City Council determined it...
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