AR15.Com Archives
 It Begins: Harrisburg Files For Bankruptcy Protection
Cpatterson  [Team Member]
10/12/2011 5:28:36 AM EDT

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.

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Schlange  [Team Member]
10/12/2011 7:30:17 AM EDT
So does this prevent the state taking over, or just prolong it?
Freelance_Bum  [Team Member]
10/15/2011 5:17:48 PM EDT
Didn't Harrisburg ask for something like 100 million in debt forgiveness?
sweetsourp0rk  [Team Member]
10/15/2011 7:55:32 PM EDT
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