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Harrisburg, on verge of bankruptcy due to incinerator debt, is sued by Covanta for loan payment

Posted: 5 oct. 2010 Tags: , ,

(Harrisburg, Pennsylvania, USA) Covanta filed suit against Harrisburg’s government seeking more than $1.9 million in missed loan repayments after the city failed to make three straight quarterly payments of $637,000. This debt started in 2007 when Covanta lent the city $25 million in plant upgrades necessary for the incinerator to run efficiently and turn a profit, as well as purchasing the facility. Covanta now owns the incinerator as well as millions of dollars in a debt that the city can’t pay. Covanta is calling for payment from Harrisburg “out of the next tax dollars or other revenues that the city receives”. History on these conflict here.

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