CENTRE DAILY TIMES / AP: After a yearlong fight, a plan to restructure $360 million in crushing debt tied to a municipal trash incinerator owned by Pennsylvania’s financially troubled capital city took effect Monday, a state-appointed receiver told the judge overseeing the complex transactions and agreements.
Threats to take Harrisburg into bankruptcy, accusations of wrongdoing, a power play by Gov. Tom Corbett and state lawmakers and hundreds of millions of dollars in wire transfers led up to the court filing…
Commonwealth Court Judge Bonnie Brigance Leadbetter had approved the plan in September, calling it the city’s best chance in a long time to get its fiscal house in order. Corbett, who appointed Lynch and backed a 2011 law unleashing the unprecedented state takeover of Harrisburg, said the restructuring was the product of cooperation… (more)
