John Whitlock, a Boston-based partner in Edwards Wildman's
Restructuring and Insolvency practice, discussed how Jefferson County, Ala., has proposed an aggressive timeline for exiting bankruptcy, but objections have been lodged before the judge can even confirm the schedule in The Bond Buyer. In the article, "JeffCo Bankruptcy Plan Objections to Be Heard
," Whitlock said, "The standard for disclosure in the disclosure statement is that there is sufficient information for the creditors who have to vote to make an informed decision about the plan. The county will be required to provide evidence that the plan is feasible, which will include evidence that it can issue the [warrants] contemplated by the plan. Ultimately, the court will have to decide how much detail is required for the creditors to make an informed decision."