NEW YORK – Ruling that any kind of debt, be it bonds, warrants or promissory notes, may be the basis for a bankruptcy filing, a federal bankruptcy judge said Jefferson County can file.

Creditors claimed Alabama law required bond debt, and the warrants behind Jefferson County’s woes were not enough to allow the county to declare bankruptcy.

U.S. Bankruptcy Judge Thomas Bennett in a two-page opinion overruled the objections.



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.