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Recent Atlanta Bankruptcy Lawyer News:
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As Central Falls, R.I., sorts out its finances after filing for bankruptcy, it is trying to put bondholders in line for payment ahead of pensioners.
CENTRAL FALLS - The fiscal crisis that has crippled the city over the past few years reached critical mass on Monday as the state-appointed receiver filed for Chapter 9 bankruptcy protection in federal court, the first time a Rhode Island municipality has ever been declared insolvent.
A year ago, New Jersey paid roughly $1 million to clean up and demolish the Kiddie Kollege day-care center, which made national news in 2006 when environmental inspectors discovered it had been housed in a mercury-contaminated former factory.
Jefferson County, Alabama, officials extended until mid-September talks with creditors holding $3.14 billion of sewer bonds after rejecting a proposed settlement to avert what would be the biggest U.S. municipal bankruptcy.
Leaders of Alabama’s most populous county voted unanimously Friday to reject a settlement with Wall Street creditors to pay off more than $3.1 billion in debt and bought more time to avoid what would be the largest municipal bankruptcy ever filed.
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