Reuters: Bankruptcy News: Bankrupt Alabama county sees exit plan in June-lawyer

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Bankrupt Alabama county sees exit plan in June-lawyer May 9th 2013, 15:40 BIRMINGHAM | Thu May 9, 2013 11:40am EDT BIRMINGHAM Ala. May 9 (Reuters) - Alabama's Jefferson County expects to file a "largely consensual" plan by late June to exit its record $4.2 billion municipal bankruptcy, a lawyer for the county said on Thursday. "We are looking at a largely consensual plan by late June, a hearing in August, voting 30 days after approval, confirmation in October or November, (and to be) put in effect by no later than late December," attorney Kenneth Klee told a U.S. bankruptcy judge in Birmingham. "I believe we have made substantial progress toward a consensual agreement," Klee said.

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