It Begins: Harrisburg Files For Bankruptcy Protection
Oct. 12 (Bloomberg) –– The city of Harrisburg, Pennsylvania, facing a state takeover of its finances, filed for bankruptcy protection following a vote by City Council, according to a lawyer for the council.
Mark D. Schwartz, a Bryn Mawr, Pennsylvania-based lawyer and former head of municipal bonds for Prudential Financial Inc.’s mid-Atlantic region, said he filed the documents by fax to a federal bankruptcy court last night. The filing couldn’t be confirmed with the U.S. Bankruptcy Court in Harrisburg.
So does this prevent the state taking over, or just prolong it?
Didn't Harrisburg ask for something like 100 million in debt forgiveness?
i thought they built an incinerator recently that was suppose to cost 30 million and ended up costin ovwe 100 million. that pushed them over the line