City Plans to File for Chapter 9

Councilman for Harrisburg Brad Koplinski hopes that a New York City firm can help his city avoid filing for bankruptcy. The lawfirm of Cravath, Swaine, and Moore has been enlisted to start discussions with the city leaders on the issue of bankruptcy and will hopefully start working with Harrisburg's creditors as well.

While the firm had originally planned on charging $400 to $950 an hour per associate, they decided to do the entire case pro bono. It seems that the big New York City law firm realized that the state capital would not be able to afford its regular fees, and that such a large problem needed to be fixed by a strong legal team.

Harrisburg doesn't get off completely scot-free, however. They are responsible for taking care of the legal team's lodging, travel expenses, photocopies, and other related fees. Councilman Koplinski estimates that this will cost the city about $25,000 that will be taken out of next year's budget.

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