JPMorgan Chase & Co. agreed to forgive $842 million of debt owed to it by Jefferson County, Alabama, where it took the lead in arranging risky securities deals.
June 05, 2013 at 12:00 AM
1 minute read
JPMorgan Chase & Co. may see as much as $1.6 billion go down an Alabama sewer.
The biggest U.S. bank by assets agreed to forgive $842 million of debt owed to it by Jefferson County, Alabama, where it took the lead in arranging risky securities deals that pushed the county into the largest U.S. municipal bankruptcy, in November 2011.
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