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there had been an "enormous effort and teamwork" to get creditors to agree to another $300 million in concessions in the past month, without having to increase the debt or raise sewer rates higher than already laid out in the bankruptcy exit plan.In all, creditors have agreed to write off more than $1.4 billion in existing debt, Klee said. That means sewer customers will repay $1.4 billion less than they would have before the county declared bankruptcy, he said.Sewer customers rates also could end up being less than what is called for in the bankruptcy exit plan, Klee said.

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billion for its sewer system.At the center of the exit plan are agreements from sewer creditors, who will cut the money they are still owed by more than $1.4 billion. The exit plan also calls for the county to re finance the remaining debt by issuing new sewer warrants.This morning the Jefferson County Commission today voted 4 1 to approve the sale of those new refinanced sewers warrants.Bennett said that he would rule from the bench at the end of Adidas Neo Full Black the hearing, which could last until Friday, on whether he will confirm the county's bankruptcy exit plan. The county intends to finalize the sale of $1.785 in warrants to refinance its reduced debt on Dec. 3.Patrick Darby, an attorney for the county, said that the county's Chapter 9 bankruptcy is about much more than the sewer debt.The county has taken steps to cut costs and restructure its general obligation and other debt, including school warrants and the money borrowed for other things such as the Bessemer Courthouse, Darby said. All of it was done without the help from the state legislature to help make up for the loss of the county's occupational tax, he said.The county's exit plan has gotten overwhelming support from creditors, Darby said. No class of creditors have voted to reject the plan, he said.Darby called "very dubious" the objections from the parties in two ratepayer lawsuits who seek to block the plan. "We would have preferred not to file Chapter 9 at all," he said.The parties in the two lawsuits would prefer some other deal "that they cannot articulate" and expose the county to litigation for years over the issues, Darby said.Kenneth Klee, the lead bankruptcy attorney for the county, told the judge that Adidas Neo Shoes Men 2018

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weeks. Bankruptcy Judge for the Northern District of Alabama, this morning began a hearing to listen to testimony from those who support or oppose Jefferson County's plan to exit bankruptcy.Follow hearing updates here.Jefferson County filed for bankruptcy in November 2011, citing $4.23 billion in debt. That debt included more than $3.1 Adidas Neo Mens Shoes

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"The plan they have, we can't afford it. It's simple as that," said Birmingham resident Anna Brown.Attorneys for Jefferson County, however, said its sewer refinancing and its future sewer rate increases is fair and feasible as part of its plan to exit bankruptcy in the next two Adidas Womens Originals Shoes

Birmingham residents object to Jefferson County's bankruptcy exit plan

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