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 Ninth Circuit has opined that, under the Private Securities Litigation Reform Act, federal bar orders in settlements of securities fraud cases may not go beyond contribution and indemnity or like claims.  Accordingly, a non-settling defendant in the Heritage Bond Litigation (municipal bonds for health care facilities) can't be barred from suing under state law his employers and others involved in the alleged fraud.  In re:  Heritage Bond Litigation (10/1/08)  http://www.ca9.uscourts.gov and click on Opinions for October 1.

NABL Comments on Disclosure and EMMA

On September 22, 2008, NABL submitted comments to the SEC relating to municipal securities disclosure and the establishment of a continuing disclosure service of the Electronic Municipal Market Access System (EMMA).  The comments can be found on the NABL web site and were in response to SEC Rel. Nos. 34-58255 and 34-58256, both dated July 30, 2008.