Alabama

A Financial Industry Regulatory Authority arbitration panel ordered Memphis-based Morgan Keegan & Co. to pay a Birmingham investor $1.95 million for misrepresenting that the Jefferson County, Ala., sewer bonds he purchased were safe, liquid and tax-free investments.

BRADENTON, Fla. — Jefferson County, Ala., on Friday filed a notice of cross appeal and said that it may challenge a bankruptcy judge's ruling that allows sewer revenues to be used for debt service payments.

Investors holding $3.14 billion of Jefferson County, Ala.'s sewer warrants should continue to see uninterrupted debt-service payments over the next few months thanks to an interim agreement approved by the county's bankruptcy judge this week.

Georgia is once again in the crosshairs of a water-rights dispute as neighboring Alabama and Florida filed appeals with the U.S. Supreme Court on Monday.

Standard & Poor’s last week affirmed its C rating on $2.3 billion of Jefferson County’s sewer system revenue warrants.

The Jefferson County Commission Tuesday voted to hire a director of capital structure and investments to manage the $4.2 billion of debt that was placed into bankruptcy in November.

BRADENTON, Fla. — Facing a 25% shortfall in the general fund, Alabama Gov. Robert Bentley said during his state of the state address Tuesday night that he would not raise taxes.

Jefferson County, Ala., said it has not used sewer system revenues for unauthorized expenses as alleged by the trustee for the county's $3.14 billion of defaulted sewer warrants.

BRADENTON, Fla. — The Bank of New York Mellon on Friday filed a complaint for declaratory judgment alleging that Jefferson County, Ala., has misused sewer system revenues that otherwise would go to pay debt service.

BRADENTON, Fla. — Syncora Guarantee Inc. on Thursday joined a dozen creditors seeking to appeal various rulings by the federal judge in Alabama overseeing Jefferson County's bankruptcy case.

Houston Astros owner James Crane won part of his request for federal bankruptcy Judge Thomas Bennett to limit Jefferson County, Ala.’s access to his lawsuit against JPMorgan.

JPMorgan and Houston Astros owner James Crane are fighting an Alabama bankruptcy judge's order to open Crane's confidential settlement with the bank over $35 million of Jefferson County's defaulted auction-rate sewer warrants.

BRADENTON, Fla. — Bankrupt Jefferson County, Ala., is once again suffering from an assault by Mother Nature as tornadoes and severe storms ripped through the county, killing several people and injuring dozens this weekend and into early Monday.

In speaking engagements around Alabama last week, Gov. Robert Bentley announced that he plans to ask the Legislature to make major changes in the state budget, and to issue $2 billion of bonds for transportation projects.

BRADENTON, Fla. — The U.S. Supreme Court Tuesday refused to review the conviction of former Jefferson County, Ala., Commission President Larry Langford.

A construction firm convicted of fraud in connection with repairing Jefferson County’s sewer system has finally paid nearly $20 million in fines and court costs assessed more than five years ago, Alabama U.S. attorney Joyce White Vance said Friday.

Alabama federal Judge Thomas Bennett Friday limited the power of the receiver managing Jefferson County's sewer system.

As Jefferson County, Ala., slogs through the nation's largest municipal bankruptcy, at least 10 bills that provide various forms of fiscal relief for the county are being advertised in advance of this year's regular legislative session, which begins Feb. 7.

The U.S. Supreme Court has scheduled a conference for Jan. 13 at which the panel will decide whether to allow former Jefferson County Commissioner Larry Langford’s appeal to go forward.

The Birmingham City Council will meet in the next two weeks to work on plans to ask voter approval for a $75 million general obligation bond issue, according to the Birmingham News.