Jefferson County, Alabama
Represented Jefferson County, Alabama, in its chapter 9 bankruptcy filing involving the restructuring of over $5 billion of debt. Advised client with respect to legal and financial issues of unprecedented size and complexity in negotiating with creditors and in litigation in federal and state courts in Alabama and New York. In addition to bankruptcy and state insolvency law issues, the case presented questions pertaining to pension, retiree and health benefits, environmental law, tax law, public finance, securities law, utility rates, legislation, constitutional law and other areas of the law. Litigation continued after the bankruptcy filing with respect to additional issues of first impression, including the extent and application of special revenue liens, stay relief, eligibility, and the operation and control of Cooper Green Mercy Hospital and public authority leases. Jefferson County ultimately reached a settlement with all major creditor groups based on the sale of $1.8 billion of new public securities out of bankruptcy. Two years after filing, Jefferson County emerged from chapter 9 upon implementation of a consensual chapter 9 plan.
West Jefferson Public Park and Amusement Authority
Represented the municipal owner of the Visionland theme park in a rare liquidating chapter 9 that involved over $100 million in debt and resulted in the sale of the debtor’s amusement park to a private operator.
City of Prichard, Alabama
Represented the indenture trustee of general obligation creditors in the first Prichard chapter 9 bankruptcy case, and on behalf of an amicus curiae in favor of eligibility in the second Prichard chapter 9.
Natchez Regional Medical Center
Represented a publicly-traded health care company in its acquisition, out of a chapter 9 municipal bankruptcy case filed in Mississippi, of substantially all of the assets of Natchez Regional Medical Center, a community hospital located in Natchez, Mississippi.