Conference on Ethics –When Tax Issues Arise

Registration Begins in October

Save the date for the NABL Conference on Ethics – When Tax Issues Arise. The conference will be held on Wednesday, December 3, from 1:00 to 3:00 p.m. eastern time, at the NABL Governmental Affairs Office in Washington, D.C.  The conference will explore the ethical considerations for lawyers when tax issues arise in financings, whether in pre-issuance due diligence, upon a tax audit, or in post-issuance compliance.  A NABLNET Alert regarding registration will be published in October.

Bond Case Briefs Case of the Week

The City of Vallejo may go forward with its Chapter 9 proceedings said the bankruptcy court hearing the case.  Having negotiated unsuccessfully with its unions and with a bank that provides credit enhancement for its outstanding bonds, the city has shown itself to be insolvent and ready for protection.  In re City of Vallejo (9/5/08)  http://www.ci.vallejo.ca.us/uploads/712/Vallejo.pdf

To review Chapter 9 caselaw on this website, select topic Bankruptcy and go forward from 1975 a few years at a time, using Control F for "Chapter 9."

Posted by C. Carlson 9/8/08

NABL Submits Draft Guidance on Auction Rate Bond Conversion

On February 4, 2008, NABL submitted a draft guidance document to the Department of the Treasury that addresses interest rate conversions of auction rate bonds.  The draft guidance can be found on the NABL web site here.