Jefferson County's bankruptcy exit bill around $25 million, more - ABC 33/40 - Birmingham News, Weather, Sports

Jefferson County's bankruptcy exit bill over $25 million and counting

Posted: Updated:
Jefferson County has spent over $25 million during its battle to exit bankruptcy and more expenses are expected in the coming years. (abc3340.com) Jefferson County has spent over $25 million during its battle to exit bankruptcy and more expenses are expected in the coming years. (abc3340.com)

Jefferson County's battle to exit its historic, $4.23 billion bankruptcy has come at a cost and officials expect there to be more expenses in the coming years.

According to a court affidavit, the county has doled out around $25 million to 18 different companies since November 2011 in its quest to exit bankruptcy. A majority of the monies paid went to law firms who have helped guide the county through the complex bankruptcy procedures. Other businesses and professionals hired to assist include consulting and public relation groups, as well as financial analysts and advisors.

Three law firms -- Klee, Tuchin, Bogdanoff & Stern LLP ($8,539,886.24), Bradley Arant Boult Cummings LLP ($10,311,902.19) and Balch & Bingham LLP ($2,722,559.24) -- recorded the bulk of the expenses and fees, having collected $21,574,347.67 collectively from the county over the past two years.

Here is a list of companies hired by the county and total amount of money paid to each:

Company Service Total
Bradley Arant Boult Cummings LLP Bankruptcy & Litigation counsel $10,311,902.19
Klee, Tuchin, Bogdanoff & Stern LLP Bankruptcy & Litigation counsel $8,539,886.24
Balch & Bingham LLP Securities & Bond counsel $2,722,559.24
Kurtzman Carson Consultants LLC Noticing & Balloting agent $731,079.54
CH2M Hill Engineering & Consulting $537,289.01
Galardi Rothstein Group Rate consultant & Trial expert $536,351.98
Public Financial Management, Inc. Financial analyst & advisor $405,581,52
Rick Journey 360 LLC Public Relations consultant $311,615.27
Percy Consulting LLC Trial expert $305,500.50
Warren Averett LLC Forensic Accounting $227,689.45
Presley Burton & Collier LLC Special Securities & Tax counsel $178,742.10
Renew Data E-Discovery $127,081.17
Public Resource Advisory Group Financial Advisor $37,587.50
Jams, Inc. Appellate Litigation consultant $27,862.95
Stephanie Yates Rauterkus, PhD Demographic & Financial Rate-Structure analyst $27,412.50
Nexsen Pruet LLC Appellate Litigation consultant $23,362.85
Dr. Lowell Broom Accounting expert $19,275
Raftelis Financial Consultants, Inc. Sewer Finance & Management consultant $4,130.03

 

 

  • Central Alabama NewsMore>>

  • Girl who was struck by plane that crashed on Florida beach dies

    Girl who was struck by plane that crashed on Florida beach dies

    Tuesday, July 29 2014 11:44 AM EDT2014-07-29 15:44:39 GMT
    A 9-year-old girl who was struck by a plane that crash-landed on a beach while she vacationed with her family has died from her injuries, law enforcement officials in Florida said Tuesday.More >>
    A 9-year-old girl who was struck by a plane that crash-landed on a beach while she vacationed with her family has died from her injuries, law enforcement officials in Florida said Tuesday.
    More >>
  • Israel hits symbols of Hamas rule, scores killed

    Israel hits symbols of Hamas rule, scores killed

    Tuesday, July 29 2014 11:42 AM EDT2014-07-29 15:42:06 GMT
    Israel escalated its military campaign against Hamas on Tuesday, striking symbols of the militant group's control in Gaza and firing tank shells that Palestinian officials said shut down the strip's only power plant in the heaviest bombardment in the war so far.More >>
    Israel escalated its military campaign against Hamas on Tuesday, striking symbols of the militant group's control in Gaza and firing tank shells that Palestinian officials said shut down the strip's only power plant in the heaviest bombardment in the war so far.
    More >>
  • Employees File Lawsuit Against Huntsville Space and Rocket Center

    Employees File Lawsuit Against Huntsville Space and Rocket Center

    Tuesday, July 29 2014 7:33 AM EDT2014-07-29 11:33:03 GMT
     Three employees of the U.S. Space and Rocket Center in Huntsville have files a lawsuit, saying that the center forced them to work state holidays.More >>
     Three employees of the U.S. Space and Rocket Center in Huntsville have files a lawsuit, saying that the center forced them to work state holidays.
    More >>
  • Birmingham Area NewsMore>>

  • Children flee Pinson home as man breaks in Monday morning

    Children flee Pinson home as man breaks in Monday morning

    Tuesday, July 29 2014 12:44 PM EDT2014-07-29 16:44:31 GMT
    Around 11:30 Monday morning deputies responded to a report of a burglary in progress at a home in the 5200block of Highland Trace Circle in Pinson. A 14 year old girl and her 9 year old brother were home alone when a manthey did not know began breaking in to their house. They called their mother and she contacted the Sheriff's Office.The children ran from the home to a neighbor's residence.Deputies arrived to see 50 year old William Robert Thomas of Birmingham climbing out of a window. Upon s...More >>
    Around 11:30 Monday morning deputies responded to a report of a burglary in progress at a home in the 5200block of Highland Trace Circle in Pinson. A 14 year old girl and her 9 year old brother were home alone when a manthey did not know began breaking in to their house. They called their mother and she contacted the Sheriff's Office.The children ran from the home to a neighbor's residence.Deputies arrived to see 50 year old William Robert Thomas of Birmingham climbing out of a window. Upon s...More >>
  • Woman who was set on fire by boyfriend dies, detectives seeking capital murder charges

    Woman who was set on fire by boyfriend dies, detectives seeking capital murder charges

    Tuesday, July 29 2014 11:22 AM EDT2014-07-29 15:22:44 GMT
    The Jefferson County Sheriff's Office says 49 year old Deborah Diane Prater died early Tuesday morning. She's been hospitalized since Sunday with extensive burns. Her ex-boyfriend is accused of setting her on fire and may now face capital murder charges.More >>
    The Jefferson County Sheriff's Office says 49 year old Deborah Diane Prater died early Tuesday morning. She's been hospitalized since Sunday with extensive burns. Her ex-boyfriend is accused of setting her on fire and may now face capital murder charges.More >>
  • Homewood City Council denies hotel an extension to continue operating

    Homewood City Council denies hotel an extension to continue operating

    Tuesday, July 29 2014 9:11 AM EDT2014-07-29 13:11:45 GMT
    A Homewood hotel plagued by problems must close by the end of the week. City leaders considered an extension for America's Best Value Inn and Suites, but denied the request.More >>
    A Homewood hotel plagued by problems must close by the end of the week. City leaders considered an extension for America's Best Value Inn and Suites, but denied the request.More >>
Most Popular
Stories
Videos
loading...