A Luxembourg bank that holds $56.8 million in San Bernardino, California, debt objected Thursday to the city's proposed reorganization plan, saying it snubs bondholders and doesn't provide viable solutions to the city's fiscal problems.

Erste Europaische Pfandbrief-und Kommunalkreditbank AG, or EEPK, filed court papers urging a California bankruptcy judge to reject San Bernardino's disclosure statement, the document that provides stakeholders details about the city's Chapter 9 plan. EEPK is represented by Vincent J. Marriott III, Christopher Celentino and Dawn A. Messick of Ballard Spahr LLP.

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