ArentFox Schiff

ArentFox Schiff has genuine Chapter 9 experience and substantial municipal bond default workout expertise. It has a long history in municipal bond workouts and municipal bankruptcies, along with municipal finance and public pensions, these being a core part of the firm’s national bankruptcy practice. The firm’s wider resources and expertise augments its focus on the municipal sector, including its expertise in compliance with tax-exempt bond tax provisions, real estate, intellectual property, healthcare regulation, employee benefits and pensions. Its specialism in pension liabilities is often key to its work when governmental entities face financial distress. The team has continued to land some significant engagements in the higher education and student accommodation sectors. It is also noted for representing mutual fund investors in workouts connected to municipal-bond financed industrial development projects. David Dubrow is hugely experienced in representing creditors in the workout of defaulted bond transactions involving general obligation bonds and revenue bonds in financing projects of all types. Les Jacobowitz  also has an exceptional record, including in the municipal restructuring of Puerto Rico’s outstanding $33bn of bonds and pension obligations of $50bn. Mark Angelov, Washington DC’s Randall Brater and San Francisco-based Jena Watson are also key figures, along with newly elected partner Mike Guippone, who is recognised as a specialist in municipal bond restructurings. Named individuals are based in New York unless stated otherwise.