Jefferson County may file for bankruptcy soon. According to County Commission President Bettye Fine Collins, the county is facing the prospect of being unable to pay a $105 million bond payment due Sept. 15.
Along with the bond payment, the county also may be unable to repay $22 million in occupational tax revenues. Although the revenues had already been spent, they were repealed by an Alabama district court last month.
On top of the repayments, the county must find a way to cover a $3.9 billion sewer debt.
If you or your company is facing the prospect of bankruptcy, contact the Birmingham bankruptcy lawyers of GREENWAY BANKRUPTCY LAW, LLC, at (205) 324-4000.