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    Significant decision on municipal bankruptcy and special revenue warrants
    2012-01-13

    On January 6, 2012, Judge Thomas Bennett of the United States Bankruptcy Court for the Northern District of Alabama (the "Court") issued a 57-page opinion in the chapter 9 bankruptcy case of Jefferson County, Alabama (the "County") on several critical jurisdictionally related issues raised by the state court appointed receiver of the County's sewer system, the indenture trustee for the special revenue warrants for the sewer system (the "Indenture Trustee") and certain other joining creditors.

    Filed under:
    USA, Alabama, Insolvency & Restructuring, Litigation, Public, Dentons, Bankruptcy, United States bankruptcy court
    Authors:
    Sam J. Alberts , Robert E. Richards
    Location:
    USA
    Firm:
    Dentons
    Historical municipal bankruptcy
    2011-11-14

    On November 11th, Reuters reported on the November 10 filing of bankruptcy court protection by Jefferson County, Alabama, the largest municipal bankruptcy in U.S. history. The county declared bankruptcy after failing to reach an agreement with its creditors on its $3.14 billion debt. Hearings are set for November 21 and December 15 to decide who maintains control of the sewer system and to determine eligibility for Chapter 9. Bankruptcy.

    Filed under:
    USA, Alabama, Insolvency & Restructuring, Public, Winston & Strawn LLP, Bankruptcy, Debt, United States bankruptcy court
    Location:
    USA
    Firm:
    Winston & Strawn LLP

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