We are pleased to include here the comments of colleague, Allan Ickowitz, Co-Chair of Nossaman's Financial Services and Bankruptcy Practice Group.
Public agency project owners can breathe a sigh of relief over a recent bankruptcy court decision in the Las Vegas monorail case. They will not be held liable for the debts of non profit corporations established to build public infrastructure simply because the corporation was formed on behalf of a public agency.
When the Las Vegas Monorail Company filed a Chapter 11 bankruptcy petition on January 13, 2010, the Ambac Assurance ...
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