A deal between U.S. regulators and J.P. Morgan Securities was meant to settle the case over Jefferson County. However, according to experts, the deal will probably not save the county from bankruptcy.
The county has been unable to make sufficient revenue to pay off creditors. The deal will net about $50 million to the county, but that will probably not be enough to offset the nearly $4 billion debt cost.
If your company is considering filing for bankruptcy, contact the Birmingham Chapter 11 bankruptcy lawyers of Paula Greenway at (205) 324-4000.