IN RE JEFFERSON COUNTY, ALA.

No. 11-05736-TBB.

474 B.R. 228 (2012)

In re JEFFERSON COUNTY, ALABAMA, a political subdivision of the State of Alabama, Debtor.

United States Bankruptcy Court, N.D. Alabama, Southern Division.

January 19, 2012.


Attorney(s) appearing for the Case

Patrick Darby , Christopher L. Hawkins , James Blake Bailey , Jennifer Harris Henderson , Bradley Arant Boult Cummings, LLP, Birmingham, AL, David M. Stern , Jay R. Bender , Los Angeles, CA, Kenneth N. Klee , Robert J. Pfister , Klee, Tuchin, Bogdanoff & Stern LLP, Los Angeles, CA, for Debtor.

James H. White , Baker, Donelson, Birmingham, AL, Kirk B. Burkley , Pittsburgh, PA, Steven D. Altmann , Najjar Denaburg, P.C., Birmingham, AL, R. Scott Williams , Haskell Slaughter Young & Rediker, LLC, Birmingham, AL, James S. Carr , Kelley Drye & Warren LLP, New York, NY, Romaine S. Scott, III , Scott & Scott Law, LLC, Fairhope, AL, Raymond P. Fitzpatrick, Jr. , Birmingham, AL, Lachlan William Smith , Wiggins Childs Quinn & Pantazis, Birmingham, AL, Jay Murrill , Riley & Jackson, P.C., Birmingham, AL, Lee R. Benton , Benton & Centeno, LLP, Birmingham, AL, Bill D. Bensinger , Baker Donelson Bearman Caldwell & Berkowitz, Birmingham, AL, Albert Kass , Kurtzman Carson Consultants LLC, El Segundo, CA, Henry W. Blizzard , Samuel McCord , Raymond P. Fitzpatrick, Jr. , Joel E. Dillard , Henry Walker, Jr. , Birmingham, AL, Anna L. Hart , Cory Watson Crowder & Degaris, Birmingham, AL, Brenton K. Morris , Benton & Centeno LLP, Birmingham, AL, Sheila G. Dela Cruz , Hirschler Fleischer P.C., Richmond, VA, Cynthia Wilkinson , Wilkinson Law Firm, Birmingham, AL, Harold Douglas Redd, Sr. , Pinson, AL, Rachel L. Webber , Rosen Harwood, PA, Tuscaloosa, AL, Larry Brittain Childs , Waller Lansden Dortch & Davis, LLP, Birmingham, AL, Walter F. McArdle , Spain & Gilllon LLC, Birmingham, AL, David Baddley , U.S. Securities and Exchange Commission, Atlanta, GA, Jeffrey McClellan , Atlanta, GA, Russell McWhorter Cunningham, IV , Cunningham Firm, LLC, Birmingham, AL, Eric Schaffer , Pittsburgh, PA, Chevene Hill , Homewood, AL, for Interested Parties.


MEMORANDUM OPINION

(as amended with respect to Footnote 9)

THOMAS B. BENNETT, Bankruptcy Judge.

I. Overview: The Parties, Positions Taken, Relief Requested, and Outcome

This Court is confronted by motions filed by The Bank of New York Mellon, as the Indenture Trustee for holders of warrants (Indenture Trustee) issued by Jefferson County, Alabama (hereinafter occasionally referenced as "the County"), and...

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