Reuters: Bankruptcy News: Bankrupt Alabama county says in pact with key creditors

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Bankrupt Alabama county says in pact with key creditors Jun 4th 2013, 20:16 BIRMINGHAM, Ala., June 4 | Tue Jun 4, 2013 4:16pm EDT BIRMINGHAM, Ala., June 4 (Reuters) - JPMorgan Chase & Co., several hedge funds and bond insurers holding 78 percent of sewer debt from Alabama's bankrupt Jefferson County have signed off on a deal aimed at ending America's largest municipal bankruptcy, a lawyer for the county said on Tuesday. JPMorgan, one of the biggest holders of the county's $3.14 billion of sewer debt, agreed to give up about $842 million of sewer debt value, according to county documents. A spokesperson for JPMorgan could not immediately be reached for comment.

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