And then there were three.
This week, San Bernardino, which faces a budget shortfall of $45 million in the upcoming year, became the third California municipality to seek bankruptcy protection in the past month. Shepherding the city through its potential restructuring will be Paul Glassman of Santa Monica’s Stradling Yocca Carlson & Rauth, who confirmed to Recorder affiliate The Am Law Daily early Thursday that he has been retained by San Bernardino to handle its bankruptcy-related work.
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