Jefferson County, Alabama, and its creditors meet Nov. 21 for the first fight of the biggest U.S. municipal bankruptcy -- whether John S. Young Jr., the sewer system’s court-appointed receiver, should go home to New Jersey.
Owners of Jefferson County, Alabama, sewer debt may offer to match or reduce three years of 8 percent annual sewer-fee increases in a county plan to restructure its bonds, said the court-appointed receiver managing the system.
The U.S. joined Australia in scouring an area in the southern Indian Ocean about 1 1/2 times the size of California for missing Malaysian Air Flight 370, as the disappearance became the longest in modern airline history.
Patrol planes are resuming the hunt for Malaysia’s missing jetliner in the Indian Ocean off Australia after an initial foray failed to find objects seen in satellite images that kindled hopes for a breakthrough.
Creditors of Jefferson County, Alabama, whose commissioners said they may vote today on filing the biggest municipal bankruptcy in U.S. history, made a new offer for debt reorganization yesterday, according to a receiver there.