Alabama County Files for Largest Municipal Bankruptcy in U.S. History

The Takeaway

Jefferson County in Alabama filed for bankruptcy last November, with approximately four billion dollars in debt. Since November, creditors have argued that Alabama law prevents Jefferson County from filing for bankruptcy. Now, a federal judge has ruled that Jefferson County’s bankruptcy is legal, allowing officials to begin drawing up plans which will address the county’s debt. We’ll talk with  Steven Church, who has  been covering this story for Bloomberg News.

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