Arbitrage & Arbitrage Rebate

With an administrative, regulatory and legislative practice unmatched by any other firm, our attorneys develop creative solutions while steering clear of the obstacles.

Our approach

Our team advises on tax compliance and other issues that arise after a transaction closes.

We set up compliance procedures and address non-compliance situations, such as analyzing and implementing remedial actions following a change in use, obtaining IRS closing agreements under the voluntary closing agreement program and reviewing management contracts and other agreements to determine if they result in any private business use.

Our five tax attorneys who function exclusively as “Section 103” lawyers literally wrote many of the industry rules and regulations while working for both the IRS and Treasury.

Having obtained numerous favorable private letter rulings from the IRS, our group successfully represents associations as well as individual issuer clients, helping in situations where current law and regulations are problematic.

Nixon Peabody has teamed with Omnicap Group LLC, to provide comprehensive arbitrage rebate compliance services to municipal issuers and conduit borrowers. Together we offer clients timely, accurate reports on arbitrage rebate liabilities and opinions on compliance with Internal Revenue Code and regulations. And if required, we provide completed IRS forms to accompany their payment.

Who we work with

  • State and local governments
  • Underwriters
  • Private placement agents
  • Bond insurers
  • Banks
  • Corporate and nonprofit obligors
  • Recognized by U.S. News-Best Lawyers 2016 as a national Tier 1 leader for Public Finance Law
  • “Deal of the Year” for Health Care Financing by The Bond Buyer for Presence Health Network 2016 bond offering
  • Consistently ranked by Thomson Reuters among the top bond counsel and underwriter’s counsel in the country, and among the most active disclosure and special tax counsel
  • In five of the last seven years, nominated as a finalist or winner as counsel to “Deals of the Year” by The Bond Buyer, the municipal market’s paper of record
  • Project Finance magazine’s “North America Leisure Deal of the Year 2006” for the financings in connection with Yankee Stadium and Citi Field
Back to top