Summary Report on Jefferson County, AL, Chapter 9 Proceedings
A memorandum prepared for BDA firms by Nixon Peabody telling the story of Jefferson County. The preliminary skirmishes in JeffCo are now behind us, but its future path is still hard to map out. However, with each ruling issuers and purchasers of municipal debt gain valuable guidance about how various types of municipal debt might be treated in a municipal chapter 9 case. The discussion about the possibility of the municipal issuer becoming the debtor in a chapter 9 case is likely to become more robust in future public disclosure documents and the purchasers of municipal debt are likely to be able to make more informed decisions.