JeffCo commission could know Thursday if bankruptcy plan will wo

JeffCo commission could know Thursday if bankruptcy plan will work

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Source: WBRC Source: WBRC
JEFFERSON COUNTY, AL (WBRC) -

Commissioners say they should know by Thursday if their current bankruptcy exit plan will move forward.

Wednesday, FOX6 learned that commissioners will reconvene Thursday at 3 p.m. to discuss the $350 million in concessions they are asking for from creditors.

A statement from Commission President David Carrington indicates Jefferson County and creditors may have filled in the $350 million hole and an exit from Chaoter 9 bankrupcty may still possible by Christmas.

Without those concessions, commissioners say they will re-write the bankrupcty exit plan and it could take an additional two years to get out of bankruptcy.

The county's current plan relies on increasing sewer rates for decades and refinancing almost $2 billion of debt.

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