New York City-based law firm Cravath, Swaine and Moore LLP will advise Harrisburg’s City Council on its options for either filing for bankruptcy or entering into Pennsylvania’s distressed communities program, called Act. 47.

The council Tuesday evening selected Cravath to review the city’s finances and liabilities and illustrate how a possible Chapter 9 filing could help or hurt the state’s capital city. Cravath also represents the New York City Off-Track Betting Corp. in its Chapter 9 filing.

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