MONTGOMERY, Ala. (AP) — Alabama’s most populous county filed the largest municipal bankruptcy in U.S. history Wednesday, years after being plunged more than $4 billion into debt by a corruption-riddled sewer project.
Just two months after it seemed Jefferson County could stave off embarrassment by striking a deal with creditors, talks broke down over about $140 million, said Commissioner Jimmie Stephens, who made the motion to file for the protection.
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