Karen Grande, a partner in Edwards Wildman's
Providence office, discussed the ramifications of Alabama’s largest county pursuing what is believed to be the first appeal ever of a federal judge’s decision upholding the long-held interpretation of bankruptcy code section 922(d) in which "pledged special revenues" are protected during a Chapter 9 bankruptcy in the Bond Buyer
. In the article, "Ciccarone: Borrowing Costs Could Rise if Jeffco Wins Appeal
" Grande stated that if the 11th Circuit Court of Appeals agrees with the county, and overturns the bankruptcy court’s ruling, that would be very significant. "Such a ruling would be totally at odds with how the public capital markets have understood Chapter 9 to protect special revenue bonds," added Grande.