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Jefferson County filed for bankruptcy on November 9, 2011. [17] This action was valued at $4.2 billion, with debts of $3.14 billion relating to sewer work; it was then the most costly municipal bankruptcy ever in the United States. In 2013, it was surpassed by the Detroit bankruptcy in Michigan. [10]
On July 18, 2013, Detroit, Michigan became the largest city in the history of the United States to file for Chapter 9 bankruptcy protection. Jefferson County, Alabama, in 2011, and Orange County, California, in 1994, are also notable examples.
Alabama's massive sewer debt crisis is coming to a close. Commissioners of Jefferson County voted 4-1 on Friday to accept a term sheet with creditors, allowing it restructure and partially write ...
2008 Vallejo California bankruptcy; 2009 Washington Park Illinois bankruptcy; 2009 Westfall Township Pennsylvania bankruptcy; 2011 Central Falls Rhode Island bankruptcy; 2011 Harrisburg Pennsylvania bankruptcy; 2011 Jefferson County Alabama Bankruptcy; 2012 Mammoth Lakes California bankruptcy; 2012 San Bernardino California bankruptcy
With a Thursday afternoon deadline fast approaching, investors and officials in Alabama are working to review new proposals to avert the biggest municipal bankruptcy in American history. Jefferson ...
It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1] Detroit is also the largest city by population in U.S. history to file for Chapter 9 bankruptcy, more than twice as large as Stockton, California, which filed in 2012.
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