Alabama

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.

Former Jefferson County Commissioner Larry Langford wants the U.S. Supreme Court to overturn his conviction.

Federal Bankruptcy Judge Thomas Bennett has ordered that an automatic stay associated with Jefferson County's bankruptcy will remain in effect through midnight Jan. 6.

A Birmingham, Ala., agency has closed on $64 million in bank loans that were privately placed due to concern that the recent bankruptcy of Jefferson County would make it difficult to seek financing in the bond market.

The bankruptcy filing by Jefferson County could ultimately hinge on a ruling by the Alabama Supreme Court.

Federal Judge Thomas Bennett, who is overseeing Jefferson County’s bankruptcy case, said Monday that he may not make a decision about whether the receiver will remain in charge of the county’s sewer system until after Dec. 23.

Jefferson County will be without a finance director after Friday.

Jefferson County is not eligible to file for bankruptcy because it has no debt outstanding that qualifies under the Alabama law that authorizes municipalities to file for Chapter 9, creditors argued in court filings last week.

The Securities and Exchange Commission said late Thursday that it is a "statutory party in interest" in Jefferson County, Ala.'s bankruptcy case and wants to receive all notices and documents filed with the court.

The potential ouster of the Jefferson County, Ala., sewer system's receiver in connection with the county's bankruptcy case could derail the long-held legal precedent that bonds secured by a specific pledge of revenues will continue to be paid during a Chapter 9 proceeding, according to creditors and industry participants.

Former JPMorgan banker Douglas MacFaddin and the Securities and Exchange Commission are seeking court sanctions against former Jefferson County commissioner Shelia Smoot for failing to appear for depositions and produce documents on several occasions.