Alabama

The new sewer rate structure recently approved by Jefferson County, Ala., commissioners is an interim plan that can be altered as creditors negotiate a settlement to restructure more than $3 billion of defaulted debt, the county said.

The United States 11th Circuit Court of Appeals on Tuesday tentatively scheduled oral arguments in the appeal involving Jefferson County, Ala.'s sewer system receiver for the week of June 3. Creditors have appealed a ruling that stripped the receiver of the right to run the county's sewer system.

Birmingham, Ala.-based Regions Financial Corp. has hired two new employees to expand its corporate trust group in the mid-Atlantic region.

Federal bankruptcy judge Thomas Bennett approved the first debt restructuring in Jefferson County, Ala.'s bankruptcy case, for $82.5 million of Ambac-wrapped lease revenue warrants.

In a ruling Wednesday, the federal judge overseeing Jefferson County, Ala.'s Chapter 9 case repeatedly blamed the state of Alabama for precipitating the county's bankruptcy filing in November 2011.

Bankrupt Jefferson County, Ala., is continuing to negotiate with creditors over the disposition of $3.14 billion of defaulted sewer debt.

National Public Finance Guarantee Corp. asked the judge overseeing the Jefferson County bankruptcy to order an examination of the county's budget and financial condition.

Jefferson County officials have proposed a restructuring plan for a small piece of the bankrupt county's municipal debt that financed a courthouse. It's not clear what if anything that means for the county's more than $3 billion in sewer debt.

The 11th Circuit Court of Appeals has accepted an amicus brief from the Securities Industry and Financial Markets Association in appeals of various municipal bond rulings in Jefferson County, Ala.'s Chapter 9 bankruptcy case.

Alabama prices $340 million of new Garvee bonds Wednesday as part of Gov. Robert Bentley's Alabama Transportation Rehabilitation and Improvement Program.

Assured Guaranty Municipal Corp. filed a motion seeking relief in Jefferson County, Ala.’s bankruptcy case saying the county proposed minimal sewer rate increases that may not support the outstanding $3.1 billion of debt.

Standard & Poor’s upgraded to AA from BBB bonds of the Birmingham-Jefferson Civic Center Authority, Ala. after it determined there would be no impact from Jefferson County’s bankruptcy filing.

An "ad hoc" group holding $676 million of Jefferson County, Ala.'s sewer warrants says the bankrupt county has failed to propose reasonable sewer rate increases that protect their holdings.

Jefferson County, Ala., commissioners approved new sewer rates that have already drawn protests from many quarters.

Jefferson County, Ala.'s plan to factor corruption into future sewer system rate increases is setting the stage for another legal fight with the trustee for the system’s $3.2 billion of debt.

Jefferson County, Ala., commissioners decided to move forward with a plan that is expected to increase sewer system rates for the first time in at least four years.

Former Montgomery, Ala., bond dealer Bill Blount has been moved to a halfway house to transition toward the end of his federal pay-to-play felony sentence for his role in the sale of bankrupt Jefferson County’s defaulted sewer warrants.

Uncertainty in the muni market is rising as Jefferson County, Ala., appeals a federal judge's decision upholding a portion of the bankruptcy code that has protected bondholders so far.

Bankrupt Jefferson County, Ala., is on a course to make changes in its sewer system rates, with plans to hear from sewer rate consultant, Eric Rothstein.

Lehman Brothers Special Financing Inc. claims the trustee for Jefferson County, Ala.'s $3.2 billion of defaulted sewer warrants is improperly withholding its swap payments.