Jefferson County's Ch. 9 Exit Plan Gets Judge's Nod

Law360, Los Angeles (November 21, 2013, 8:59 PM EST) -- A federal bankruptcy judge on Thursday confirmed Jefferson County, Ala.’s plan to cut its debt by $1.2 billion, the next step toward ending the second-largest municipal bankruptcy in the nation’s history, according to the county’s attorneys.

U.S. Bankruptcy Judge Thomas Bennett on Thursday said he confirmed the plan and was going through it line by line to hear comments and objections, Jefferson County’s legal team told Law360 on Thursday.

The plan would cut the city’s $4 billion in sewer debt, forcing creditors to take an at...
To view the full article, register now.