JeffCo bankruptcy mediation delayed - ABC 33/40 - Birmingham News, Weather, Sports

JeffCo bankruptcy mediation delayed

Posted: Updated:
BIRMINGHAM - AL -

Jefferson County has been in bankruptcy for 17 months and counting. County leaders are ready to end bankruptcy very soon.

The county wants to have an exit strategy before a judge by June first.

Mediations with creditors this week were pushed back a month. Usually delays mean bad news or some sort of setback but not in this case. Commissioners say progress continues to be made outside of a court setting.

"We're progressing. We surely have a skeletal framework, calling it that is misleading. We're past that, putting skin on the skeleton," said Commission President David Carrington.

The more than four billion dollar bankruptcy filing involves school warrant, general obligation and sewer creditors. The county needs a settlement or at least one of those groups to agree to its exit plan.

"We're making substantive progress in making multiple classes of creditors support the plan," said Carrington.

Carrington and Commissioner Jimmie Stephens met with some of the creditors' representatives last week. They say talks are going well enough to push back settlement negotiations involving a federal mediator. That's not to say there are not issues.

"We're not getting some information from creditors as timely as we'd hoped for," said Stephens.

But hope isn't lost. A consensual plan would just need the judges approval. Otherwise, it's more time in court.

"The citizens of Jefferson County deserve closure to this," said Stephens.

The mediation in Atlanta is now scheduled for the end of May.

  • Central Alabama NewsMore>>

  • Moody High School students mourn death of classmate

    Moody High School students mourn death of classmate

    Tuesday, August 19 2014 3:51 PM EDT2014-08-19 19:51:03 GMT
    Students at Moody High School are mourning the loss of their classmate. 16-year-old Jonathan Harris, a sophomore died Monday night from injuries sustained in a weekend rollover accident on Roberts Mill Pond Road in Pell City. Students wore blue on Tuesday, the school color of Moody High School, the same color he wore on the football field and on the wrestling mat. "Jonathan was always one of those kids who had a smile on his face. You would never catch him frowning or in a bad mood. He was ...More >>
    Students at Moody High School are mourning the loss of their classmate. 16-year-old Jonathan Harris, a sophomore died Monday night from injuries sustained in a weekend rollover accident on Roberts Mill Pond Road in Pell City. Students wore blue on Tuesday, the school color of Moody High School, the same color he wore on the football field and on the wrestling mat. "Jonathan was always one of those kids who had a smile on his face. You would never catch him frowning or in a bad mood. He was ...More >>
  • Alabama alligator hunter demolishes state record with 15-foot, 1000-pound gator

    Alabama alligator hunter demolishes state record with 15-foot, 1000-pound gator

    Tuesday, August 19 2014 12:35 PM EDT2014-08-19 16:35:24 GMT
    A family battled a 1,000-pound alligator for more than five hours, putting several large hooks into the beast before firing a fatal shotgun blast into the gator's head.More >>
    A family battled a 1,000-pound alligator for more than five hours, putting several large hooks into the beast before firing a fatal shotgun blast into the gator's head.
    More >>
  • Essential oils not allowed to be kept in JeffCo schools

    Essential oils not allowed to be kept in JeffCo schools

    Monday, August 18 2014 5:02 PM EDT2014-08-18 21:02:48 GMT
    The latest item to hit school ban lists are essential oils. Parents say these plant oils help their children suffering from seemingly most ailments from asthma to allergies. Jefferson County schools will not allow school nurses to administer them. Students cannot even keep them in lockers.More >>
    The latest item to hit school ban lists are essential oils. Parents say these plant oils help their children suffering from seemingly most ailments from asthma to allergies. Jefferson County schools will not allow school nurses to administer them. Students cannot even keep them in lockers.
    More >>
Most Popular
Stories
Videos
loading...