Comonwealth Court Judge Bonnie Leadbetter today approved Air Force Gen. William B. Lynch as Gov. Tom Corbett's new receiver for cash-strapped Harrisburg. “He impressed me with the personal qualities that we need to handle this very, very difficult situation,” said the judge, according to this Bloomberg report.
Unkovic told the court he'd been “put in a box” by creditors who convinced another state court judge to appoint a rival receiver to take control of the infamous incinerator whose multiple refinancings have left Harrisburg broke. That receiver "will be a tool of creditors, including Dauphin County and Assured Guaranty Municipal Corp.," according to Bloomberg.
"Unkovic quit March 30, two days after publicly calling for state and federal probes of more than $300 million worth of bond deals that is at the heart of Harrisburg’s insolvency."
The receiver was brought in to help Harrisburg pay off that money. But after reviewing the city's finances and the history of the bond sales, Unkovic called their structure "disturbing." After calling for investigations, Unkovic said he met with lawyers for Gov. Corbett and realized he would be replaced. Instead he resigned, citing political "headwinds."