LexisNexis® Legal Newsroom
The Right Kind of Broke? Judge Weighs Deeply Insolvent County's Eligibility For Chapter 9 Protection

The travails of Jefferson County, Alabama are well known. Ordered by a federal court to upgrade its sewer system in the late 1990's, the project was marred by corruption, cost overruns and financing with complex derivatives that ultimately saddled the County with over $3 billion in debt. In addition...