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<blockquote data-quote="klein" data-source="post: 888195" data-attributes="member: 23950"><p><span style="font-size: 18px"><strong>Debt-laden Harrisburg files for bankruptcy</strong></span></p><p></p><ul> <li data-xf-list-type="ul"><img src="http://l2.yimg.com/bt/api/res/1.2/A958Mngkk93.PR4s67FaBw--/YXBwaWQ9eW5ld3M7Y2g9Mjk3O2NyPTE7Y3c9NDUwO2R4PTA7ZHk9MDtmaT11bGNyb3A7aD0xMjY7cT04NTt3PTE5MA--/http://media.zenfs.com/en_us/News/Reuters/2011-10-12T195844Z_01_BTRE79B1DU200_RTROPTP_2_HARRISBURG-BANKRUPTCY.JPG" alt="" class="fr-fic fr-dii fr-draggable " style="" /></li> <li data-xf-list-type="ul">Reuters - 51 minutes ago</li> </ul><p>(Reuters) - Pennsylvania's capital, Harrisburg, filed for a rare municipal bankruptcy on Wednesday in a desperate bid to resolve its debt crisis, but it now faces a showdown with the state over control of the city.</p><p>Harrisburg becomes one of the most-high profile cities to opt for the little-used chapter of the U.S. bankruptcy code, most notably used nearly 20 years ago by Orange County, California. Alabama's Jefferson County last month settled with its creditors to avoid what would have been the biggest-ever municipal bankruptcy.</p><p>The Pennsylvania capital's crisis has been a year in the making as the city of about 50,000 struggles to pay for critical services as well as roughly $300 million in debt that funded an incinerator project that failed to generate expected cash.</p></blockquote><p></p>
[QUOTE="klein, post: 888195, member: 23950"] [SIZE=5][B]Debt-laden Harrisburg files for bankruptcy[/B][/SIZE] [LIST] [*][IMG]http://l2.yimg.com/bt/api/res/1.2/A958Mngkk93.PR4s67FaBw--/YXBwaWQ9eW5ld3M7Y2g9Mjk3O2NyPTE7Y3c9NDUwO2R4PTA7ZHk9MDtmaT11bGNyb3A7aD0xMjY7cT04NTt3PTE5MA--/http://media.zenfs.com/en_us/News/Reuters/2011-10-12T195844Z_01_BTRE79B1DU200_RTROPTP_2_HARRISBURG-BANKRUPTCY.JPG[/IMG] [*]Reuters - 51 minutes ago [/LIST] (Reuters) - Pennsylvania's capital, Harrisburg, filed for a rare municipal bankruptcy on Wednesday in a desperate bid to resolve its debt crisis, but it now faces a showdown with the state over control of the city. Harrisburg becomes one of the most-high profile cities to opt for the little-used chapter of the U.S. bankruptcy code, most notably used nearly 20 years ago by Orange County, California. Alabama's Jefferson County last month settled with its creditors to avoid what would have been the biggest-ever municipal bankruptcy. The Pennsylvania capital's crisis has been a year in the making as the city of about 50,000 struggles to pay for critical services as well as roughly $300 million in debt that funded an incinerator project that failed to generate expected cash. [/QUOTE]
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