Law360, New York (January 06, 2012, 6:42 PM ET) -- The receiver for Jefferson County, Ala.'s insolvent sewer system and the bondholders on whose behalf he's working lost a bid Friday keep the bankruptcy court from curbing his powers over the system, including his ability to raise rates.
U.S. Bankruptcy Judge Thomas B. Bennett's ruling is a boon for Jefferson County's efforts to deal with $3.6 billion in sewer debt by limiting receiver John S. Young Jr.'s powers.
Young, who was appointed in prior litigation after the county defaulted on sewer-related debt obligations, had filed an...
Judge Limits Ala. County Sewer System Receiver's Power
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