In one of its most significant public service commitments in years, Cravath announced on November 9, 2010, that it will provide pro bono legal advice and counsel to the City Council of Harrisburg, Pennsylvania, on the advisability of filing a municipal bankruptcy case under Chapter 9 of the Bankruptcy Code and, as needed, on issues regarding the Pennsylvania Municipalities Financial Act (known as “Act 47”). The advice will assist the City Council in evaluating the City’s debt restructuring alternatives. The Firm would also represent the City in any Chapter 9 filing. Recognizing the importance of this work for the public good and for the City of Harrisburg, Cravath will not charge any fees for its work. Cravath partners Richard Levin and Paul H. Zumbro will lead the representation.
The bankruptcy and financial restructuring capabilities of Cravath’s lawyers put the Firm in a unique position to assist the City Council. The Firm’s lawyers have substantial experience representing clients in connection with reorganization, restructuring and bankruptcy transactions, bankruptcy litigation, municipal bankruptcy and distressed merger and acquisition transactions.
Challenging pro bono work has long been a cornerstone of Cravath’s practice. The Firm believes it is important to lend its support to the community and regards pro bono work as both an opportunity and an obligation.
Please click here to read the article in The Wall Street Journal.
Please click here to read the article in The Legal Intelligencer.