Jeffco Commission faces big week for bankruptcy

Jeffco Commission faces big week for bankruptcy

Posted: Updated:
BIRMINGHAM, AL (WBRC) -

This is a pivotal week for Jefferson County's fight to get out of Chapter 9 bankruptcy.

If the county's creditors do not come up with a way to fill in a $350-million hole in the county's exit plan by the end of the week, the commission says it will tear up its agreements and try another plan. That would probably mean more lawsuits and the county being in Chapter 9 for another 12-18 months.

Commissioners David Carrington and Jimmie Stephens traveled to New York last week to meet with some of the creditors.

Stephens says he believes the creditors are considering the county's request but there was no response by the county's 4 p.m. deadline.

Under the current plan, the county would get out of bankruptcy by Christmas.

Copyright 2013 WBRC. All rights reserved.

Powered by WorldNow