Ala. County’s $1.2B Debt Reduction Plan Stings JPMorgan

Law360, Chicago (July 1, 2013, 2:56 PM ET) -- Jefferson County, Ala., on Sunday unveiled a plan to trim its burdensome sewer debt by over $1.2 billion — with lender JPMorgan Chase & Co. absorbing a majority of the losses — keeping the county on track to emerge from bankruptcy by the end of the year.

The so-called “plan of adjustment” will pay out over $1.83 billion to creditors owed just over $3 billion in principal on financing for a sewer overhaul that went sour and plunged the county into the biggest Chapter 9 bankruptcy...
To view the full article, register now.




Case Information

Case Title

Jefferson County, Alabama

Case Number



Alabama Northern

Nature of Suit

Date Filed

November 8, 2011

Law Firms


Dewey Verdict Watch

Follow our exclusive coverage of the trial of the year:

Dewey Trial Day 68