IPFS News Link • Economy - Economics USA
Judge gives a win to Wall Street in Alabama county bankruptcy
• ReutersThe judge in the landmark bankruptcy of Alabama's Jefferson County sided with Wall Street creditors on Friday and sharply limited how the cash-strapped local government can use funds generated by its sewer system.
The ruling, in a months-long court dispute, aggravates a cash crunch for the county that may exhaust its general fund within three months.