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CITY OF HARTFORD RETAINS GREENBERG TRAURIG, LLP AS RESTRUCTURING COUNSEL

CITY OF HARTFORD RETAINS GREENBERG TRAURIG, LLP

AS RESTRUCTURING COUNSEL

 

HARTFORD, CONN (July 6, 2017) –  Today, the City of Hartford announced that it has engaged the law firm Greenberg Traurig, LLP to provide legal services as the city evaluates the full range of restructuring options to ensure its long-term fiscal stability.  Greenberg Traurig’s team will be led by Nancy A. Mitchell, one of the Co-Chairs of the firm’s restructuring practice, who has more than 30 years of experience in restructuring and corporate finance.

 

“Nancy Mitchell and the team at Greenberg Traurig have extensive experience in municipal restructuring, and they will be working with us to examine all options for putting the City of Hartford on a sustainable path,” said Mayor Bronin.  “Over the past eighteen months, we have made significant cuts and we continue to pursue aggressive changes in our labor contracts.  We have also advocated for a State budget that puts our cities in a position to be strong and vibrant, for the sake of Connecticut’s economic competitiveness.  We will continue to work closely with our legislators as they work to adopt a responsible State budget.  In the meantime, as we start a new fiscal year without a State budget and with significant uncertainty, we will have the advice and counsel of an experienced and highly respected restructuring firm.”

 

“This is precisely what we need and I support the Mayor’s decision to hire Greenberg Traurig,” said Treasurer Adam Cloud.

 

“Given the fiscal issues facing our state and the fiscal cliff facing our city, we certainly understand the mayor’s administrative decision to engage municipal restructuring experts,” said City Council President Thomas “TJ” Clarke II.  “While we continue to be hopeful that the state government will adopt a budget which provides Hartford with the necessary funding to provide for the health, safety, and welfare of our residents, as responsible stewards, we must carefully review all options.  In doing so, we will examine all available tools in a considered and thoughtful attempt to restructure city government working together as a team with our Mayor and administration.”

 

"Greenberg Traurig is honored to have been asked by the City of Hartford to assist with its restructuring,” said Nancy Mitchell.  “Our team will use our exceptional understanding of both finance and government operations to provide quality legal services and guidance as Hartford seeks to get on sustainable financial footing."

 

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