Covanta, Harrisburg Reach Deal Over $22M Loan Default

Law360, New York (June 27, 2013, 7:52 PM EDT) -- Covanta Energy Corp. has agreed in principle with Pennsylvania's capital city of Harrisburg to settle a 2010 suit it filed after the financially troubled city defaulted on a $22 million loan for construction upgrades to an incinerator plant, it said Thursday.

Covanta and Harrisburg's receiver William B. Lynch told a Pennsylvania state court Monday that they had reached a tentative deal that would end the suit, which Covanta Harrisburg Inc. launched after the city missed nearly $2 million in loan repayments in connection with major construction...
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