Jefferson County: Court Rejects Expansive Carve Out of “Net Operating Expenses” From Special Revenue Bond Payments

August 2: Jefferson County: Court Rejects Expansive Carve Out of "Net Operating Expenses" From Special Revenue Bond Payments

 

Analysis of a recent decision from the U.S. Bankruptcy Court for the Northern District of Alabama finding that special revenue bonds will continue to be secured and serviced in accordance with the underlying indenture during Jefferson County’s Chapter 9 case.