§ 928(b)

Bank of N.Y. Mellon v. Jefferson County (In re Jefferson County)

Ruling: 
Professional services fees that qualified as operating expenses could be satisfied from debtor county's sewer revenues.
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Commercial case opionion summary, case decided on June 27,2013, LexisNexis #0813-097

Bank of N.Y. Mellon v. Jefferson County (In re Jefferson County)

Plaintiff banks and insurance companies filed an adversary proceeding against defendant Jefferson County, Alabama, seeking a judgment declaring that the County was not allowed to withhold payments of money it claimed it needed to operate a sewer system. The case was tried to the court.
Ruling: 
County ordered to remit revenue from sewer system to receiver except for amount necessary for actual operations.
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Commercial case opionion summary, case decided on June 29,2012, LexisNexis #0912-133

Bank of N.Y. Mellon v. Jefferson County (In re Jefferson County)

An indenture trustee and other banks filed a complaint against a county that sought bankruptcy relief under chapter 9, based on a dispute over what expenditures for the county's sewer system were payable ahead of payments to those lenders who/which secured payment of interest and principal owed on the county's sewer system's warrants by obtaining a consensual lien against some revenues of the sewer system.
Ruling: 
Subordination of consensual lien on specific revenues was inapplicable to pledge and distributive scheme under indenture agreement for sewer system operating expenses.
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Commercial case opionion summary, case decided on June 29,2012, LexisNexis #0213-019
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