Harrisburg Holds ‘Wild West’ Auction to Reduce Debt


Harrisburg Holds ‘Wild West’ Auction to Reduce Debt

by Joel R. Glucksman on August 8, 2013

Harrisburg, Pennsylvania, has been struggling for years to unload its heavy municipal debt and repair its broken economy. The city attempted to file for bankruptcy protection in 2011, but the court dismissed its request, leaving the debt-saddled state capital with few avenues for alleviating its financial woes. Now, the city is trying a new creative strategy in order to reduce debt costs and avoid the tedious bankruptcy road: an auction.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Joel Glucksman, Scarinci Hollenbeck | Attorney Advertising

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