Bailey Quoted on Build America Bonds

Partner Michael Bailey was quoted in an article that appeared in The Bond Buyer on March 12, 2012 titled “IRS Settlement Over BABs Seen As a Precedent.” Bailey discussed Half Moon Bay’s settlement with the IRS, the first publicly-reported settlement between an issuer and the IRS over a Build America Bonds (BAB) issue. He described the settlement as significant and potentially precedent-setting, predicting that the IRS will likely continue to settle violations by reducing subsidy payments in general.