Creditor Demands Financial Probe Of Bankrupt County

Law360, Los Angeles (December 12, 2012, 3:25 PM EST) -- A bond insurer owed $95 million by Jefferson County, Ala., asked a bankruptcy judge Tuesday to let it examine the county's books, arguing it hasn't been forthcoming about plans to exit Chapter 9 after failing to repay billions raised for a sewer system project.

As one of the county's creditors, National Public Finance Guarantee Corp., a New York-based municipal bond insurance company that helps state and local governments pay for infrastructure projects, asked U.S. Bankruptcy Judge Thomas B. Bennett to order Jefferson County to produce documents...
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