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...
To view the full article, register now.




Case Information

Case Title

Jefferson County, Alabama

Case Number



Alabama Northern

Nature of Suit

Date Filed

November 9, 2011

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.