Possible Bankruptcy For Jefferson County?

Alabama Birmingham  Alabama's most populous county is on the brink of filing bankruptcy over its $3.2 billion sewer debt.
by Associated Press
Published: Fri, September 26, 2008 - 1:47 pm CST Last Updated: Fri, September 26, 2008 - 2:15 pm CST
BIRMINGHAM, Ala. (AP) - There's still no deal to avoid a
possible bankruptcy filing by Jefferson County.
Talks are continuing. But an agreement between the county and
creditors expires on Tuesday, and officials are considering whether
to file for bankruptcy if there isn't a deal by then.
Speaking in an interview on Thursday, Gov. Bob Riley said his
optimism over a settlement is fading. That's because the sides
aren't making the needed concessions to reach an agreement.
The county is on the brink of filing bankruptcy over its $3.2
billion sewer debt. The crisis occurred because interest expenses
rose sharply this year following years of risky debt deals by
county officials.
Email a Friend Email to a Friend   
Printer Friendly Printer Friendly
Translate: » Spanish | French | German | Italian | Japanese | Chinese | Russian | Hindi

Recently Commented On

Brewton Teacher Busted During…

18 Total Comments
Brewton Teacher Busted During Drug Sting Police say a Brewton Elementary School teacher was arrested… more »

Alabama Ethics Commission Found…

6 Total Comments
Alabama Ethics Commission Found Weak A national survey says Alabama is one of only three states… more »

Toddler Shot In Apparent Drive-by…

10 Total Comments
Toddler Shot In Apparent Drive-by Shooting Prichard police say a 1-year-old girl and her father were… more »

Customers Chase After Bank Robber

5 Total Comments
Customers Chase After Bank Robber Police say Sean Mitchell robbed the M & M Bank on Bienville… more »

Revenue Commission Missing 20k

4 Total Comments
Revenue Commission Missing 20k The News 5 Investigative team has confirmed that about 20,000… more »