Public FinanceTax-exempt finance is the firm's focus. Mutual funds and asset managers evaluating covenants for high-yield transactions or facing a credit that is having issues can benefit from the firm's. Issues encountered in taxable financings often mirror those encountered in tax-exempt structures. Trustees encountering troubled borrowers need flexible, effective counsel to advise them as they determine what remedies to pursue or whether forbearance is in the best interest of bondholders. Political subdivisions and other entities that qualify for tax-exempt financing, such as nonprofit hospitals, colleges and universities, need access to the tax-exempt market as they invest capital for growth. Creative use of taxable financing structures can also assist borrowers achieve their financial objectives. |
Purchaser's Counsel |
Mutual funds and other tax-exempt investors often seek representation when evaluating the purchase of high-yield municipal bonds from investment banking firms. The firm's deep experience as bond counsel structuring transactions for public and nonprofit borrowers and as purchaser's counsel for investors provides the foundation for an effective skill set that can assist market participants.
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Restructurings and Defaults |
Sometimes borrowers can enter into a debt structure that is not appropriate for their operations or can end up unable to pay their debt service. In certain cases, a restructuring transaction using the latest credit structure and creative approaches will mitigate the issues facing investors and the credit. For more challenged credits, thoughtful approaches to a workout situation can help investors, trustees and borrowers find the best possible solution.
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Expert Witness Services |
Based upon the firm's experience as bond counsel, underwriter's counsel, issuer's counsel and purchaser's counsel in a wide variety of tax-exempt financings, included defaulted financings and in one of the nation's largest municipal bankruptcies, certain members of the firm are available to serve as an expert witness in connection with the interpretation of trust indentures, loan agreements and related issues commonly encountered in the public finance arena.
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