Law Firms
Bradley Arant Hired for Ala. County’s Possible Bankruptcy Filing
Alabama’s Jefferson County has hired a Birmingham law firm to work on a possible bankruptcy filing.
Bradley, Arant, Rose and White will draw up bankruptcy papers if talks with creditors fail, Bloomberg News reports. Officials say the county can’t afford soaring interest rates on $3 billion in bonds.
If the county seeks Chapter 9 bankruptcy protection, the municipal bond default would be the largest in U.S. history. Jefferson County includes Birmingham, Alabama’s largest city.
Lawyer Patrick Darby will handle the bankruptcy work, the Birmingham News reports.
Hat tip to Deal Watch—The Blog.
