“Only when the tide goes out do you discover who’s been swimming naked” – Warren Buffet
The tide has gone out on the municipal finance market.
While much of the discussion about the financial fall-out of the COVID-19 virus has focused on the massive wealth destruction in stock markets and pressure on corporates around the world, the impact on the largest financial market in the world- the $3 trillion US municipal finance market- cannot be ignored. Simply put, the market is imploding.
USA, Insolvency & Restructuring, Sheppard Mullin Richter & Hampton LLP, Coronavirus, Title 11 of the US Code
The U.S. Court of Appeals for the Seventh Circuit became the second federal appellate court to extend successor liability under the FLSA to an asset purchaser. In Teed et al, v.
USA, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Baker Donelson Bearman Caldwell & Berkowitz PC, Fair Labor Standards Act 1938 (USA), Seventh Circuit