Jefferson County's bankruptcy exit bill over $25 million and counting
Jefferson County's battle to exit its historic, $4.23 billion bankruptcy has come at a cost and officials expect there to be more expenses in the coming years.According to a court affidavit, the county has doled out around $25 million to 18 different companies since November 2011 in its quest to exit bankruptcy. A majority of the monies paid went to law firms who have helped guide the county through the complex bankruptcy procedures. Other businesses and professionals hired to assist include consulting and public relation groups, as well as financial analysts and advisors.
Three law firms -- Klee, Tuchin, Bogdanoff & Stern LLP ($8,539,886.24), Bradley Arant Boult Cummings LLP ($10,311,902.19) and Balch & Bingham LLP ($2,722,559.24) -- recorded the bulk of the expenses and fees, having collected $21,574,347.67 collectively from the county over the past two years.
Here is a list of companies hired by the county and total amount of money paid to each:CompanyServiceTotalBradley Arant Boult Cummings LLPBankruptcy & Litigation counsel$10,311,902.19Klee, Tuchin, Bogdanoff & Stern LLPBankruptcy & Litigation counsel$8,539,886.24Balch & Bingham LLPSecurities & Bond counsel$2,722,559.24Kurtzman Carson Consultants LLCNoticing & Balloting agent$731,079.54CH2M HillEngineering & Consulting $537,289.01Galardi Rothstein GroupRate consultant & Trial expert$536,351.98Public Financial Management, Inc.Financial analyst & advisor$405,581,52Rick Journey 360 LLCPublic Relations consultant$311,615.27Percy Consulting LLCTrial expert$305,500.50Warren Averett LLCForensic Accounting $227,689.45Presley Burton & Collier LLCSpecial Securities & Tax counsel$178,742.10Renew DataE-Discovery $127,081.17Public Resource Advisory GroupFinancial Advisor$37,587.50Jams, Inc.Appellate Litigation consultant$27,862.95Stephanie Yates Rauterkus, PhDDemographic & Financial Rate-Structure analyst$27,412.50Nexsen Pruet LLCAppellate Litigation consultant$23,362.85Dr. Lowell BroomAccounting expert$19,275Raftelis Financial Consultants, Inc. Sewer Finance & Management consultant$4,130.03