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Alabama County Nears $3.14 Billion Settlement, Avoids Historic Muni Bankruptcy
Since 1980, there have been just 254 municipal Chapter 9 filings, mostly by small special-tax districts and municipalities, according to James E. Spiotto, a bankruptcy expert and attorney with Chicago law firm Chapman and Cutler.
Updated: 09/16/2011 02:52P
The lessons of Solyndra
AP The recent declaration of bankruptcy by the solar power company Solyndra and investigation into the circumstances of the company's loan approval has both the left and right in a tizzy. Republicans are attempting to use the
Updated: 09/16/2011 02:52P
Alabama county averts $3bn bankruptcy
Jefferson County in Alabama, home to Birmingham, on Friday agreed to the framework of a settlement with creditors on more than $3bn of debt, averting the largest municipal bankruptcy in US history.
Updated: 09/16/2011 02:51P
Expanding the force field
After the financial crisis crescendoed with the failure of Lehman Brothers (who filed Chapter 11 bankruptcy three years ago today) many unsound financial arrangements were exposed. Many of the arrangements that failed were derivatives that had been
Updated: 09/16/2011 02:49P
Court gives go-ahead on Crystal Cathedral sale
A federal judge has agreed to move ahead with a bankruptcy plan for Crystal Cathedral that calls for the sale of the megachurch's 40-acre campus. At a hearing Wednesday, the court set a timeline for creditors to approve the plan and choose a buyer for
Updated: 09/16/2011 02:49P
Ala. county votes to settle debt, avoid bankruptcy
By JAY REEVES, AP Leaders of Alabama's largest county on Friday chose to settle with Wall Street over $3.1 billion in debt from a sewer system overhaul rather than go through with what would have been the largest municipal bankruptcy in US history.
Updated: 09/16/2011 02:31P
Barnes & Noble agrees to buy part of Borders' $15.8M intellectual property up
That will be released when the auction is approved by the US Bankruptcy Court of the Southern District of New York. A hearing is set for Tuesday. Borders Group Inc. filed for bankruptcy protection in February and decided to liquidate in July.
Updated: 09/16/2011 02:29P
B&N to Buy Some of Borders' Intellectual Property
That will be released when the auction is approved by the US Bankruptcy Court of the Southern District of New York. A hearing is set for Tuesday. Borders Group Inc. filed for bankruptcy protection in February and decided to liquidate in July.
Updated: 09/16/2011 02:29P
Alabama County Approves Debt Deal to Avoid Record Bankruptcy
16 (Bloomberg) -- Jefferson County, Alabama, commissioners approved a settlement with holders of $3.14 billion of sewer debt to avert what would have been the largest municipal bankruptcy in US history. The County Commission voted 4-1 today to accept
Updated: 09/16/2011 02:29P
Alabama county backs terms to settle $3.14 billion debt
BIRMINGHAM, Alabama (Reuters) - Alabama's Jefferson County voted on Friday to proceed with a deal to settle its $3.14 billion sewer bond debt with creditors and avoid what would be the largest municipal bankruptcy in US history.
Updated: 09/16/2011 02:29P
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