Bankruptcy Tracker

Municipal Bankruptcies On The Rise

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The Jefferson County Courthouse in Birmingham, Alabama. The county's bankruptcy is the largest municipal bankruptcy in U.S. history.

The Jefferson County, Alabama municipal bankruptcy, the fourth large municipality to file this year, highlights the increased risks of doing business with municipal governments in a recession.  A shady sewer deal.

On November 9, 2011, Jefferson County, Alabama, the county for Birmingham, the states largest city, filed a voluntary Chapter 9 bankruptcy for relief of more than $3.1 billion in debt after attempts to reach a debt restructuring deal with creditors fell apart, according to court documents.

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