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News Link • Government Debt & Financing

Hartford Solicits Bankruptcy Proposals from Law Firms

• by Mish

It has a budget hole of $14 million this year, and a projected $65 million hole next year.

The city wants $40 million from the state and concessions from unions. The state would be foolish to give Hartford a dime, and unions seldom if ever concede anything.

Hartford is toast.

The Hartford Courant Community reports Hartford Moves Closer to Bankruptcy, Soliciting Proposals From Law Firms.

City leaders have taken a step toward bankruptcy, soliciting proposals from law firms that specialize in Chapter 9, which protects financially strapped municipalities.

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