BIRMINGHAM - AL -
Two Jefferson County commissioners are headed back to New York in the hope of ending bankruptcy.
Commissioners David Carrington and Jimmie Stephens will once again go to negotiate a sewer settlement on behalf of the county. This time, they'll meet with hedge funds.
The hedge funds and J.P. Morgan own a significant portion of the sewer debt.
If they can strike a deal, Jefferson County can move out of bankruptcy much faster.
The county will be back in bankruptcy court this week. A trial over sewer creditors' being part of the automatic stay, which bars them from taking any further legal action against the county, begins Wednesday. Commissioners could testify.
