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Doug Gillette was quoted in an article, "Assured Says It's Open to a Hartford Debt Restructuring," published in The Bond Buyer. As the article reports, Assured Guaranty Municipal Corp. recently told Hartford officials it is willing to discuss bond restructuring as an alternative to bankruptcy. Remarks made by Gillette, chairman of Day Pitney's municipal finance practice group, during a recent panel discussion on municipal distress at the University of Connecticut School of Law were quoted. In that discussion, Gillette warned about issuers using restructuring as a crutch. "It's a fiscal tool that can be very much misused," Gillette said. "There's such a potential for abuse." Since a 2002 state law threw out many amortization requirements, Gillette added, "you saw a pattern of a lot of what they call scoop-and-toss refundings. Eventually that comes home to roost."
On June 29, Day Pitney Partner Namita Shah, chair of the firm's Private Equity and Finance Practice, is the moderator for "The 10th Anniversary of The Attorneys of Color Symposium: A Celebration of Progress and Perseverance," hosted by Quinnipiac University School of Law.
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Day Pitney Alert
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Day Pitney Press Release
Day Pitney Press Release
On November 22, Connecticut Governor Dannel P. Malloy announced that he is appointing Jay Nolan to serve as his appointee on the state's recently created Municipal Accountability Review Board.
Day Pitney LLP has once again been recognized as Connecticut's number one bond counsel firm by volume, serving as bond counsel on issues in Connecticut totaling approximately $1.7 billion in 2016, according to The Bond Buyer, a daily newspaper serving the municipal bond industry.
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