Jefferson County, Alabama, is fighting against filing a Chapter 9 bankruptcy with some last minute negotiation attempts.
The county is the largest county in Alabama and is home to the state’s capitol, Birmingham. The county’s woes began in the early part of the decade, when it borrowed funds to fix its sewer system and was caught up in inflated interest rates, a tanking economy and government corruption.
According to the L.A. Times, if the county does file Chapter 9, it would be the largest municipal bankruptcy in history.
The county has proposed a deal with its creditors in a last-ditch effort to come to a resolution.
The Law Firm of Kevin D. Judd – Washington DC bankruptcy attorneys