Jefferson County Judge May Seek Bankruptcy Advice From Alabama High Court – Bloomberg

Jefferson County Judge May Seek Bankruptcy Advice From Alabama High Court – Bloomberg.

 

An interesting turn of events in the Jefferson County bankruptcy filing.  In most cases involving the automatic stay afforded to debtors who file bankruptcy, the state courts must defer to the Federal Bankruptcy Court.  In this particular case, however, the issue is whether it is legal under Alabama law for Jefferson County to file bankruptcy.  This issue turns upon a technical issue regarding the distinction between “bonds” and “warrants” and could delay proceedings for the biggest municipality to file bankruptcy.



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