The city of Hartford, Conn., has retained the law firm of Greenberg Traurig LLP as restructuring counsel as it weighs whether to file for bankruptcy, officials said Thursday.
Hartford has a deficit approaching $50 million and has asked the state for help managing its fiscal crisis. But the state has its own budget troubles and failed to pass a spending plan to close a two-year hole of $5.1 billion before the fiscal year ended on June 30...
Greenberg Traurig, led by Nancy Mitchell, one of the co-chairs of the firm's restructuring practice, will help the city evaluate options to put the city on a path to long-term fiscal stability, city officials said. Over the past 18 months, the city has made deep spending cuts and continues to seek concessions from public-employee unions to address the deficit, Mr. Bronin said.
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