Creditor: Stay In Jefferson County, Alabama Chapter 9 Case Should Be Lifted

Creditor: Stay In Jefferson County, Alabama Chapter 9 Case Should Be Lifted

BIRMINGHAM, Ala. - The Federal Guaranty Insurance Co. (FGIC), a secured creditor in the Chapter 9 bankruptcy proceeding of Jefferson County, Ala., on March 28 moved for relief from the automatic stay in the U.S. Bankruptcy Court for the Northern District of Alabama for the purpose of allowing the receiver to complete the rate-setting process for the county's sewer system in order to recover its investment (In Re: Jefferson County, Alabama, No. 11-05736, Chapter 9, N.D. Ala. Bkcy.).

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