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Published on 3/13/2014 in the Prospect News Distressed Debt Daily.

San Bernardino reports negotiations progress; next mediation April 15

By Caroline Salls

Pittsburgh, March 13 - The City of San Bernardino, Calif., said "significant and substantial progress has been made as a result of extended and good faith negotiations between the city and [the California Public Employees' Retirement System], and such progress lays the foundation for negotiations between the city and other parties," according to a Wednesday filing with the U.S. Bankruptcy Court for the Central District of California.

The city said its next mediation session is scheduled for April 15 and April 16, and mediator Gregg W. Zive directed the parties to continue negotiations in the meantime.

San Bernardino filed for bankruptcy on Aug. 1, 2012. The Chapter 9 case number is 12-28006.


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