Neal Pandozzi Quoted in “Lawsuits in multiple Southwest states involve municipal bonds” in The Bond Buyer

October 2, 2024

There is a whirlwind of litigation currently happening in Oklahoma, Texas, Utah and Arizona, which is being brought about from defaults, bankruptcy, environmental concerns or laws aimed to punish financial firms for their stance on fossil fuels. Some of this litigation involves municipal bonds, and the end result of the lawsuits could decide if bonds can be issued, who is to blame for defaulted debt, and if state municipal underwriter bans are constitutional. Neal Pandozzi spoke with The Bond Buyer about a decision in Texas:

In the wake of that ruling, the challenge against the Texas law becomes a “more interesting test case” because it involves an industry and actual economic benefits, according to Neal Pandozzi, partner at law firm Bowditch & Dewey.

“I think the decision is going to depend on whether there is a critical mass of legislative intent in Texas that shows that the motivation behind this particular anti-boycott law affecting fossil fuels was to regulate commercial conduct,” he said. “If they’re able to do that, then I think this survives scrutiny.”

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