Bankruptcy Negotiations

Reported by: Al Ratcliffe
Updated: 8/12/2011 11:32 pm
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BIRMINGHAM, Ala. (WIAT) - The process of dealing with the Jefferson County sewer mess will take a little longer.  Commissioners decided to delay their decision until September 16th.  The reason, so they can get more involved in the negotiations.

Bankruptcy isn't off the table just yet.  Dr. Melissa Woodley teaches Finance at the Brock School of Business.  She says bankruptcy has it pros and cons.  The biggest advantage of bankruptcy is that a judge will hear both sides of the argument and make a ruling on the bankruptcy filing.  The biggest con, this would be the largest municipal bankruptcy in history.  A major public relations hit.  But she says because of the ongoing mess, the county has already taken the hit.  And pulling the trigger on the bankruptcy wouldn't make it any worse.
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