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.

The Alabama county, which does not have a finance director, reportedly plans to pay the debt manager $130,000 a year to oversee the outstanding warrants as JeffCo proceeds through the largest bankruptcy in the country.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.