Almost three years after declaring bankruptcy, the southern California city of San Bernardino will issue its long-awaited bankruptcy exit plan on Thursday, May 14, the city mayor said, Reuters reported on Friday. San Bernardino mayor Carey Davis said that the city’s plan of adjustment will be attached to the agenda for the next council meeting this Thursday. Davis conceded that the plan, which will be voted on by the city council on May 18, will still only mark the beginning of months of additional wrangling among the city and its creditors. If the council backs the plan, it will be presented to court by May 30, under a deadline set by the bankruptcy judge overseeing the case.
