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News Link • Economy - Economics USA

Judge gives a win to Wall Street in Alabama county bankruptcy

• Reuters

The 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.

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