BofA Exits Appeal After Dumping Bankrupt Ala. County's Bonds

Law360, Wilmington (August 14, 2012, 9:06 PM EDT) -- The Eleventh Circuit on Tuesday permitted Bank of America NA to back out of an appeal stemming from the Jefferson County, Ala., bankruptcy after the bank dumped most of the $225.7 million of county sewer bonds it held.

According to an order filed with the appeals court, Bank of America and affiliate Blue Ridge Investments LLC can withdraw from a multiparty appeal of a bankruptcy court's January decision that curbed the power of the receiver for the county's insolvent sewer system.

Bank of America said in...
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