Bankrupt Ala. County Reaches Deal With Lenders

Law360, Los Angeles (June 27, 2013, 5:54 PM EDT) -- Jefferson County, Ala., has reached a settlement with lenders, including JPMorgan Chase Bank NA, seeking $138 million, in a deal that bolsters an agreement to structure more than $3 billion of the county’s debt, a county attorney told a bankruptcy court Thursday.

The courtroom announcement by Jefferson County attorney Jennifer Harris Henderson came before county officials approved the settlement as the county moves toward exiting Chapter 9 bankruptcy proceedings.

The deal ensures that the county’s liquidity banks and a bond insurer join several hedge funds and...
To view the full article, register now.

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.