Reuters: Bankruptcy News: Creditors back Alabama county's bankruptcy plan

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Creditors back Alabama county's bankruptcy plan Oct 8th 2013, 16:39 BIRMINGHAM, Ala. | Tue Oct 8, 2013 12:39pm EDT BIRMINGHAM, Ala. Oct 8 (Reuters) - Creditors in the $4.2 billion bankruptcy case involving Alabama's Jefferson County have "overwhelmingly approved" the county's plan of adjustment, Jefferson County Commission President David Carrington said on Tuesday. Creditors had until an Oct. 7 deadline to submit their votes on a bankruptcy exit plan approved in August by the judge in the case. Carrington said the final count will come later this week. Approval by creditors paves the way to a year-end bond sale of about $1.9 billion that is needed to pay off current sewer debt bondholders at sizable discounts.

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