Bankrupt Pa. Capital To Sell Assets To Block Takeover

Law360, New York (November 8, 2011, 12:58 PM EST) -- Harrisburg's city council agreed Monday to sell the city's trash incinerator and lease downtown parking garages, hoping to thwart a state takeover of the bankrupt Pennsylvania capital.

The city is scrambling to come up with a plan to deal with $310 million in debt before a Nov. 14 deadline, after which Pennsylvania Gov. Tom Corbett can appoint a receiver to run the capital's finances and oversee the continuation of vital services. The largest chunk of the debt is owed to TD Bank, which financed more than...
To view the full article, register now.



Case Information

Case Title

City of Harrisburg, PA

Case Number



Pennsylvania Middle

Nature of Suit

Date Filed

October 11, 2011

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.