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San Bernadino Bankrupt. Up Next: Scranton? - ABC News

07/11/12

The drumbeat of cities filing bankruptcy grows louder: San Bernadino has become the third California city in two weeks to go bust, after Stockton (the biggest U.S. city so far to file) and the small Sierra hamlet of Mammoth Lakes. The L.A. Times ...

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San Bernardino bankruptcy: Only $150,000 left in bank accounts - Los Angeles Times

07/11/12

"People are not going to work if they do not get paid,'' Penman said. By filing for Chapter 9 bankruptcy protection, a section of federal law for municipalities facing insolvency, the city will be able to renegotiate labor contracts, stall ...

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Peregrine client: ‘A potential bright spot’ in bankruptcy filing would put investors first for repayment - Des Moines Register

07/11/12

A Chapter 7 petition filed in U.S. Bankruptcy Court in Chicago by Peregrine Financial Group of Cedar Falls indicates that the company will have between $10,001 and $25,000 to distribute to customers and other unsecured creditors. The company ...

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San Bernardino becomes third California city seeking bankruptcy - msnbc.com

07/11/12

Larkin noted the concerns of San Bernardino's staff about the risk of the city not meeting its payroll in coming months may be eclipsed by concerns it could be frozen out of the muni debt market if it goes through with a bankruptcy filing. It may take San ...

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Chicago futures-trading firm PFGBest files for bankruptcy after boss’ suicide attempt - Chicago Sun-Times

07/11/12

The PFGBest firm Peregrine Financial Group Inc. has filed for Chapter 7 bankruptcy in federal court in Chicago. The filing Tuesday night for liquidation of the Chicago firm comes on the heels of an announcement that the federal Commodity Futures ...

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Peregrine Financial Group Files For Bankruptcy Amid Scandal - Huffington Post

07/11/12

July 10 (Reuters) - Peregrine Financial Group Inc, the regulated unit of the brokerage PFGBest, has filed to liquidate under Chapter 7 of the U.S. bankruptcy code, a court filing shows. Tuesday's filing with the U.S. bankruptcy court shows that ...

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Calif. bankruptcies decline faster than U.S. filings - msnbc.com

07/11/12

However, because of its large population, the Golden State ranks 10th in the number of bankruptcies per capita, 5.35 filings per 1,000 population. The states with the highest bankruptcy rate per capita are: Nevada, 7.06 filings per 1,000 population ...

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3rd Calif. city to file for bankruptcy in 1 month - CBS News

07/11/12

(CBS/AP) SAN BERNARDINO, Calif. - The Southern California city of San Bernardino has voted to declare bankruptcy. The City Council in the city of 210,000 people decided to seek Chapter 9 protection Tuesday night, making it the third California ...

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San Bernardino seeks bankruptcy protection - Los Angeles Times

07/11/12

Filing for municipal bankruptcy protection will allow San Bernardino to renegotiate contracts, including those with employees, and stave off creditors while officials restructure the city's finances. Current employee pension obligations ...

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San Bernardino becomes third California city seeking bankruptcy - YAHOO!

07/11/12

Larkin noted the concerns of San Bernardino's staff about the risk of the city not meeting its payroll in coming months may be eclipsed by concerns it could be frozen out of the muni debt market if it goes through with a bankruptcy filing. It may take San ...

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