BREAKING: Largest municipal bankruptcy in U.S. history

Jefferson County, Ala. (WIAT) - Federal Judge Thomas Bennett cleared the way for Jefferson County to officially enter into Chapter 9 Bankruptcy.

The order Overrules objections filed by The Bank of New York Mellon which sought to stave off Chapter 9 and forcing the County to resume negotiations with creditors over the counties multi-billion dollar sewer debt.

The order ensures that the county may continue to operate while reorganizing the debt.

While the order does not specify the amount of debt that Jefferson County will still have to pay, it does find that Jefferson County did negotiate in good faith with creditors to reduce its debt obligations.

http://www.cbs42.com/content/breaking/story/Bankruptcy-Approved/AaW...

Views: 379

Tags: camps, civil, constitution, detainment, federal, fema, fighters, freedom, government, law, More…martial, new, obama, order, patriots, police, reserve, revolution, rights, state, world

Comment by Exposure on March 5, 2012 at 2:44am

Best news ever!! That what all counties, no countries in fact should do, - knock the 1%!!

Comment

You need to be a member of 12160 to add comments!

Join 12160

24 or more hours of member activity

Please remember this website is supported by your donations...

12160 NEWS new management/admin info

Report an Issue

Forum

Keep 12160 Alive, please donate!

Started by The Admin Team in Current News/Events. Last reply by Tara 22 hours ago. 2 Replies

Florida set to become Disease Test Tube

Started by Modern Feudal Serf in Current News/Events. Last reply by Sweettina2 yesterday. 4 Replies

© 2014   Created by truth.

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2014 - all rights reserved. unless otherwise noted
var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-48719234-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })();