William B. Lynch, the state- appointed receiver of Pennsylvania’s capital, said “a deal is imminent” with creditors on resolving an incinerator debt burden of about $345 million that has left Harrisburg insolvent.
Harrisburg’s incinerator, a $310 million debt burden that’s driven the Pennsylvania capital to weigh bankruptcy, may become the city’s salvation.
AOL Inc., facing a fight with investor Starboard Value LP, said Institutional Shareholder Services Inc. was wrong in not recommending shareholders vote for two of its eight board nominees.
Starboard Value LP, the investor pushing for changes at AOL Inc., said Glass Lewis & Co. recommended shareholders vote for one of its three nominees to the Internet company’s board.
Institutional Shareholder Services Inc. recommended that AOL Inc. shareholders vote for six directors selected by the Internet company, as well as two nominated by investor Starboard Value LP.