PHILADELPHIA INQUIRER / AP: A Pennsylvania state law barring its debt-ridden capital city from seeking federal bankruptcy protection expires Friday and that prospect could emerge again if and when a state appointee who oversees Harrisburg’s finances presses creditors for concessions.
For now, the so-called state-appointed receiver, William Lynch, is trying to lease the city’s parking lots and garages, win concessions from employee unions and sell the city-owned municipal trash incinerator that accumulated a debt in excess of $300 million under which the city is staggering.
“It’s good to see it expire because that means that option is on the table and that’s an option we should have,” said Corey Angell, a spokesman for Lynch… (more)
