Employing a multidisciplinary approach to provide a well-rounded offering, the municipal bond recovery practice at ArentFox Schiff is well-equipped to advise on the full range of mandates, including Chapter 9s, defaults on tax exempt bonds, and municipal bond refinancings, as well as Title III proceedings, municipal bond restructurings, and obligation compliance. With robust capabilities, the group is a trusted advisor to Trustees and mutual fund investors spanning a variety of sectors, including higher education, student housing, and public utilities, to name a few. The department is under the joint leadership of David Dubrow and Mark Angelov, both of whom have considerable experience handling high-profile matters; Dubrow regularly represents creditors, bond holders, and insurers in defaulted bond negotiations, workouts, and transactions, while Angelov is adept at leading on bond recoveries and out-of-court workouts. The team also benefits from the aptitude of Les Jacobowitz, an expert in multifamily housing, healthcare loan, and tax credit workouts. Other notable practitioners include Mike Guippone and District of Columbia’s Randall Brater. All attorneys are based in New York unless otherwise stated.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘ArentFox Schiff’s restructuring practice is distinguished by its experience handling complex and atypical matters, particularly those involving non-standard revenue streams and operational or engineering-related challenges.’
‘The team benefits from a broad and continually expanding network of industry contacts, which enhances its ability to address multifaceted municipal restructurings.’
‘Attorneys within the practice are highly collaborative and thoughtful, bringing a practical, solutions-oriented approach that compares favorably with peer firms handling similar matters.’
‘Clients would likely value the team’s ability to integrate legal strategy with practical, real-world considerations, resulting in advice that is both technically sound and commercially realistic.’
‘Mark Angelov stands out for his combination of legal, restructuring, and engineering expertise, which is especially valuable given the highly bespoke nature of municipal restructurings.’
‘I have consistently valued Mark Angelov's ability to move discussions away from overly technical or jargon-heavy framing and instead focus on outcomes and conditions in a clear, practical, and actionable manner.’
Key clients
- Synovus Bank
- YM & YMHA of Washington Heights and Inwood
- Ambac Assurance Corporation
- Wilmington Savings Fund Society, FSB
Work highlights
Advised Ambac Assurance Corporation on the overall municipal restructuring of Puerto Rico’s outstanding $33 billion of bonds and pension obligations.
Representing Synovus Bank, who is the Trustee under the indenture for $55,780,000 of Water and Sewer Revenue Bonds of the Water Works and Sewer Board of the City of Prichard, Alabama, in a case where the Trutee moved for a received due to difficulties including state and federal investigations of its former operations manager, the need for major capital improvements, and the rising cost of purchased water for the system.
Represented YM & YMHA of Washington Heights and Inwood with respect to the potential buyout of investors with respect to a right of first refusal.
Lawyers
Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Mark Angelov
Les Jacobowitz
Randall Brater
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Mike Guippone
Practice head
David Dubrow; Mark Angelov
Other key lawyers
Les Jacobowitz; Mike Guippone; Randall Brater