Recovery Plan Approval Lets Harrisburg Skirt Bankruptcy

Law360, Harrisburg (September 19, 2013, 3:35 PM EDT) -- A judge in Pennsylvania’s Commonwealth Court said Thursday that she would approve a financial recovery plan aimed at bringing the state’s beleaguered capital city out from under the shadow of hundreds of millions of dollars in debt and allowing it to avoid formal bankruptcy proceedings.

Judge Bonnie Leadbetter said the plan, which provides for the sale of a debt-laden trash-to-energy incinerator facility and the monetization of city parking facilities by leasing them to a private company, presented Harrisburg with its best chance to settle more than...
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