Jefferson County: Judge Pens New Bankruptcy Chapter (WSJ)

November 23, 2012 – A year into Jefferson County, Ala.’s historic bankruptcy, its elected leaders are playing tug of war with the brightest lawyers hired by Wall Street banks to protect their $3.2 billion investment in the county’s sewer system. But it is a self-described “slow country boy from West Virginia” who is driving the largest municipal bankruptcy case in U.S. history. U.S. Bankruptcy Court Judge Thomas Bennett, 63 years old, has pushed the rare Chapter 9 case into unexplored parts of bankruptcy law, applying a blunt and unconventional style to a legal battle that threatens to shift the landscape for municipal-bond investing.

Link to Full Article (Free): http://online.wsj.com/article/SB10001424127887324712504578132881909735380.html?mod=e2tw

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