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News Regional & State News Governor Corbett names receiver to take control of Harrisburg's finances
Friday, 18 November 2011 16:40

Governor Corbett names receiver to take control of Harrisburg's finances

Written by  Craig Layne

(Harrisburg) -- The man picked by Governor Corbett to take control of the city of Harrisburg's finances is tied to three firms that have been associated with the city's debt negotiations. David Unkovic most recently served as the bond counsel for the state Department of Community and Economic Development. But before that, he spent nearly three decades with Saul Ewing, a law firm representing the biggest creditor in Harrisburg's roughly $310 million incinerator debt. Unkovic says he no longer has any ties to the firm and it did not represent the creditor, Assured Guaranty, when he worked there.

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"The municipal bond industry is small in Pennsylvania. Anybody who's been in it for 32 years is going to know just about everybody else, who's in that business and have had interactions with them in financing," he says. "But, I now am working for the state and I'm going to do my best job to come up with the best plan for the city." Unkovic also worked for RBC Capital Markets, an underwriter of the incinerator debt and Public Finance Management, which has represented Dauphin County. A Washington-based law firm will assist Unkovic if his appointment is approved by the Commonwealth Court.

Last modified on Friday, 18 November 2011 19:23

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