Sunday, September 8, 2019
Harrisburg (state capital of Pennsylvania) Bankrupt Essay
Harrisburg (state capital of Pennsylvania) Bankrupt - Essay Example The move took place when the legislature of the state considered implementing the rescue plane. Last year many bankruptcies were expected by the municipal state analysts. However, very few localities dared to take the step. The council took the decision Tuesday night, 11 October 2011, in a 4 to 3 vote .Immediately after a petition was faxed of chapter 9 bankruptcy to the United State Bankruptcy Court by a lawyer of the Council. It all started with an inefficient incinerator which the city owned since 1960s, a political plan in 1990s by the county favored the landfills over the incinerator and by 2003 the enterprise went under $104 million dept. the situation worsened when an amateurish company was hired to fix it made and the contractor fumbled through the project badly and took the dept $130 million. So the City Council chose to bankrupt rather then state sponsored plan of dealing with the debt. Even as the dispute over the legality of the appeal filed under the Bankruptcy Court continues Lawyers are becoming active to pass legislation prà ©cising a state takeover. Lawyer hired by Mayor Linda Thompson argued that the filing violated city and state laws as city law requires the mayor and city solicitor to sign off all the hiring of the outside lawyers and solicitors approval of the rules and resolutions is required that are being considered by the council and neither was done in this case. Ms Linda Thomson called this whole event an episode of ââ¬Å"sneak attackâ⬠.(2) Council members like Brad Koplinski, attacked the mayors financial plans and said that state backed plans were already rejected by the council and largely because it demanded too little from the creditors. Because of the mentioned reason Ms. Thompson and Council had been locked in battle for months.Ms Thompson argued that the Council is hindering the path of
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment