A Luxembourg bank that extended nearly $50 million to San Bernardino, Calif., wants a federal judge to set a March 1 deadline for a plan to show how the city will get out of bankruptcy, Dow Jones Daily Bankruptcy Review reported today. The bank, Erste Europaische Pfandbrief-und Kommunalkreditbank AG, argued that giving city leaders a deadline to file that plan would pressure the city's police and firefighter unions to settle their disputes over proposed benefit cuts. Leaders in San Bernardino, a city of 200,000 residents that has been in bankruptcy for more than two years, said that they need to cut more than $20 million in labor costs. But negotiations with those two unions have broken down, the bank's lawyers said in documents filed Wednesday in U.S. Bankruptcy Court in Riverside, Calif.
