Media Coverage
1 April 2013
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Media Coverage
1 April 2013
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Law360
Government & Global Trade partner David Narefsky (Chicago) is quoted on WVB East End Partners' closing of a $677 million issuance of private activity bonds to fund a bridge project in Louisville, Kentucky.
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Legal Update
29 March 2013
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Mayer Brown Legal Update
President Obama today announced a series of proposals to encourage greater private investment in US highways and other infrastructure assets. The president’s proposals include an increase from $15 billion to $19 billion in the amount of tax-exempt private activity bonds (PABs) that may be issued for surface transportation projects.
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Media Coverage
March 2013
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Institutional Investing in Infrastructure (subscription required)
Government & Global Trade partner David Narefsky (Chicago) is extensively quoted in an article discussing that investors are looking to take advantage of rare opportunities to acquire infrastructure assets as companies and governments sell assets to raise cash.
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News Release
28 February 2013
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Mayer Brown, a leading global law firm, represented the Puerto Rico Public-Private Partnerships Authority, a public corporation of the government of Puerto Rico, and the Puerto Rico Ports Authority on an approximately $2.6 billion, 40-year lease agreement with Aerostar Airport Holdings LLC to privatize Luis Muñoz Marín International Airport in San Juan.
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Media Coverage
4 February 2013
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Law360
Chicago Government & Global Trade partner David Narefsky's comments are cited in an article discussing Ray LaHood's tenure as US Transportation Secretary and the agenda that his successor will face.
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Legal Update
28 June 2012
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Mayer Brown Legal Update
On June 28, 2012, the US House of Representatives and Senate reached agreement on the Moving Ahead for Progress in the 21st Century Act (S. 1813; MAP-21). This transportation reauthorization legislation will replace the expiring Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU) enacted in 2005, and is expected to be passed by Congress shortly and signed into law by President Obama. For the transportation P3 market, among the key provisions in the House-Senate Conference Report are the following. |
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Mayer Brown Legal Update
On April 24, 2012, the Chicago City Council, by a vote of 41-7, established the Chicago Infrastructure Trust, an innovative approach proposed by Mayor Rahm Emanuel to leverage private investment for transformative infrastructure projects.
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News Release
17 October 2011
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Mayer Brown, a leading global law firm, announced today that seven of its partners were named “Best Lawyers 2012 Lawyers of the Year” in their respective practice categories and office cities.
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News Release
1 April 2011
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Mayer Brown
Mayer Brown, a leading global law firm, announced today that Chicago Government & Global Trade partner David Narefsky has been named to American Lawyer magazine’s prestigious “Dealmakers of the Year 2011” list. The annual awards honor lawyers who have demonstrated excellence in successfully managing complicated transactions.
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Legal Update
8 September 2010
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Mayer Brown Legal Update
President Obama recently announced support for several transportation infrastructure proposals. These include: a six-year funding authorization with a $50 billion accelerated first year of funding; inclusion of high speed rail in ongoing funding; funding for the Federal Aviation Administration’s proposed “next generation” air traffic control system; and a national infrastructure bank that would leverage private investment.
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Legal Update
26 August 2010
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Mayer Brown Legal Update
The recent bankruptcy filings by infrastructure companies Connector 2000 Association Inc., South Bay Expressway, L.P., California Transportation Ventures, Inc., and the Las Vegas Monorail Company have tested the structures utilized to implement public-private partnerships (P3s) in the United States in several respects. It is still too early to draw definitive conclusions about the impact of these proceedings on P3 structures going forward, but initial rulings in two of the cases are already focusing the minds of project participants on threshold structuring considerations.
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Mayer Brown Legal Update
On May 26, 2010, the Securities and Exchange Commission (the “SEC”) approved final amendments to Rule 15c2-12 (the “2010 Amendments”) significantly altering continuing disclosure obligations for municipal finance transactions. Rule 15c2-12 provides the foundation for secondary market disclosure by issuers and borrowers in the municipal bond market.
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Mayer Brown’s involvement with the Chicago Career Tech program, which helps displaced middle-class workers gain the necessary skills and connections to obtain employment in technology-related fields, was the subject of a May 25, 2010, article in the Chicago Daily Law Bulletin. The program was developed by our pro bono client Civic Consulting Alliance, a not-for-profit partnership that builds teams of public leaders and private experts to figure out workable and enduring ways to make the city more livable, affordable and globally competitive.
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Legal Update
1 February 2010
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Mayer Brown Legal Update
President Obama has announced awards totaling $8 billion from the American Recovery and Reinvestment Act for high speed inter-city passenger rail projects. The money will go to 13 rail corridors covering 31 states and the District of Columbia. Major awards include: $1.25 billion to develop a high speed rail corridor between Tampa and Orlando in Florida, with trains at speeds up to 168 miles per hour; $2.25 billion to connect Southern California to the San Francisco Bay area, with trains running up to 220 miles per hour; and $2.6 billion for projects in the Midwest Corridor, including $1.1 billion for service between Chicago and St. Louis.
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Mayer Brown Legal Update
July 1, 2009, marks the arrival of a significantly different continuing disclosure regime for the US municipal bond market. Starting then, issuers and obligated persons are required to file continuing disclosure information with the Municipal Securities Rulemaking Board (the MSRB) instead of with the four prior Nationally Recognized Municipal Securities Information Repositories (NRMSIRs) that had been designated to receive the information.
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Legal Update
13 April 2009
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Mayer Brown Legal Update
On April 3, 2009, the Treasury Department released Notice 2009-26, which provides guidance on the “Build America Bond” provisions of the American Recovery and Reinvestment Act of 2009. Build America Bonds are a new financing tool through which state and local governments can elect to issue taxable tax-credit bonds in lieu of tax-exempt bonds for governmental purposes and expand the universe of investors in municipal bonds.
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Legal Update
2 February 2009
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Mayer Brown Legal Update
On January 26, 2009, the US Internal Revenue Service (IRS) Tax Exempt Bond Office (TEB) sent questionnaires to 200 governmental issuers that issued tax-exempt bonds in calendar year 2005 asking for detailed information about their compliance and record-retention procedures and practices. Governmental issuers who receive such a questionnaire will have 90 days to respond to the questionnaire, but TEB may grant 30 additional days to respond in individual cases based on the facts and circumstances.
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News Release
6 November 2008
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6 November 2008 - Mayer Brown LLP, a leading global law firm, announced today that 20 of its attorneys are ranked as “Leading Lawyers” in the 2009 edition of IFLR1000. The publication also ranks Mayer Brown practices in 21 categories, including two Tier 1 rankings: US Structured Finance & Securitization and Hong Kong Restructuring & Insolvency. IFLR1000 is the guide to the world’s leading financial law firms, providing rankings and analysis of the best financial law firms operating in more than 100 markets worldwide.
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News Release
30 September 2008
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Mayer Brown LLP is representing the City of Chicago in a groundbreaking $2.521 billion transaction to privatize Midway Airport. This marks the first privatization of a major American airport. The deal will provide unprecedented benefits for the traveling public, the airlines and the taxpayers of Chicago according to Chicago Mayor Richard M. Daley.
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19 May 2008 - Mayer Brown LLP is advising the Commonwealth of Pennsylvania on its $12.8 billion, 75-year lease of the Pennsylvania Turnpike to a consortium led by Abertis, a Spanish toll road operator, and the Citigroup Infrastructure Fund. This is the largest infrastructure privatization deal in U.S. history and one of the largest transactions of its kind in the world.
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