Jefferson Co. Receiver Hearing Delayed

Federal judge David Proctor has delayed tomorrow’s hearing on whether to appoint a receiver for Jefferson County, Ala.’s debt-ridden sewer system. The hearing now will start Thursday to provide the parties more time for discovery, he said in a court order Friday.

County bond insurers Syncora Guarantee Inc., Financial Guaranty Insurance Co., and trustee for bondholders Bank of New York Mellon want a receiver because they claim the county has failed to increase revenues to support debt service payments.

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