Jefferson County Finally Files for Bankruptcy

Posted on November 9, 2011 by dannynelson • 0 Comments

Jefferson County, Ala., commissioners Wednesday voted to file the largest municipal bankruptcy in U.S. history, saying they could not come to terms with creditors over restructuring $3.14 billion of defaulted sewer debt.

On a 4 to 1 vote, commissioners decided to proceed with a Chapter 9 filing.