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Leonard Weiser-Varon

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[email protected]

+1.617.348.1758

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Len specializes in municipal and corporate debt transactions. Len also represents state sponsors and private program managers of Section 529 college savings programs and Section 529A (ABLE) disability savings programs. Len is often invited to speak on securities and constitutional law issues impacting finance and regularly writes on public finance matters. He has been recognized as one of the top public finance lawyers in Massachusetts in a peer survey by Massachusetts Super Lawyers.

Len is active in both municipal finance and corporate finance, with an emphasis on financings for 501(c)(3) institutions, project finance, secured lending, structured finance transactions, workouts and restructurings, corporate debt, Section 529 college savings programs, and Section 529A (ABLE) disability savings programs.

His practice includes service as bond counsel, issuer’s counsel, underwriters’ counsel, and counsel to institutional purchasers and borrowers in connection with public offerings and private placements of, and defaults and bankruptcies involving, tax-exempt and taxable debt for public, nonprofit, and corporate entities. Len also serves as state sponsor’s counsel and program manager’s counsel on various Section 529 and Section 529A (ABLE) programs. He also is experienced in obtaining SEC no-action letters and negotiation of IRS closing agreements.

Len is a panelist on securities and constitutional law matters and on Section 529 and ABLE programs, and has published articles and edited textbooks on a variety of finance-related topics.

During law school, he was an editor of the Columbia Law Review. Before joining the firm, Len clerked for Associate Justice Ruth I. Abrams of the Supreme Judicial Court of Massachusetts.

Education

  • Columbia University (JD)
  • Dartmouth College (BA)

Experience

  • Represented the trustee and bondholders of the Iowa subsidiary of Dutch nitrogen fertilizer company OCI NV in connection with debt restructuring of the $1.2 billion high yield bond issue.
  • Represented the Massachusetts Educational Financing Authority as bond counsel and general counsel for brand new student loan refinance program, offering a flexible program for borrowers, including both fixed rate and variable refinancing options to lower rates and consolidate repayment. Work included the public offering of debt as well as the legal work on all the documents for the new loan program and the extensive consumer protection regulation.

Languages

- Spanish

Recent Insights

News & Press

Events

Viewpoints

Viewpoint General
Tolstoy warned that “if you look for perfection, you’ll never be content”; but Tolstoy wasn’t a bankruptcy lawyer.  In the world of secured lending, perfection is paramount. A secured lender that has not properly perfected its lien can lose its collateral and end up with unsecured status if its borrower files bankruptcy. 

IRS Expands Remedial Action for Nonqualified Use of Tax-Advantaged Bonds

April 13, 2018 | Blog | By Leonard Weiser-Varon, Christie Martin

The IRS on April 11, 2018 released Revenue Procedure 2018-26 (Rev. Proc. 2018-26), which expands remedial action options in connection with certain post-issuance leases to private parties of facilities financed with tax-exempt bonds.

IRS Expands Remedial Action for Nonqualified Use of Tax-Advantaged Bonds

April 13, 2018 | Alert | By Christie Martin, Leonard Weiser-Varon

The IRS on April 11, 2018 released Revenue Procedure 2018-26 (Rev. Proc. 2018-26), which include the expansion of remedial action options in connection with certain post-issuance leases to private parties of facilities financed with tax-exempt bonds.

Tax Reform: The Threat of Annihilation of Tax-Exempt Financing

November 9, 2017 | Blog | By Leonard Weiser-Varon, Charles Samuels, Meghan Burke, John Regier

Mintz Levin's Chuck Samuels, Meghan Burke, Len Weiser-Varon, and John Regier discussed the new tax reform bill in a webinar entitled "Tax Reform: The Threat of Annihilation of Tax Exempt Financing.” 

IRS Releases New Public Approval Proposed Regulations

October 13, 2017 | Blog | By Leonard Weiser-Varon, Christie Martin

On September 28, 2017, the Internal Revenue Service (IRS) withdrew previous proposed regulations and released new proposed regulations (the “Proposed Regulations”) relating to public approval requirements for tax exempt private activity bonds. 
The U.S. Supreme Court’s June 26 opinion in Trinity Lutheran Church of Columbia, Inc. v. Comer, precluding states from discriminating against churches in at least some state financing programs, raises anew the question of whether states may, or are required to, provide tax-exempt conduit bond financing to churches and other sectarian institutions.
The U.S. Supreme Court’s June 26 opinion in Trinity Lutheran Church of Columbia, Inc. v. Comer, precluding states from discriminating against churches in at least some state financing programs, raises anew the question of whether states may, or are required to, provide tax-exempt conduit bond financing to churches and other sectarian institutions.

Will It Soon Be Game over for Tax-Exempt Financing of Professional Sports Stadiums?

June 20, 2017 | Blog | By Leonard Weiser-Varon, Meghan Burke, Poonam Patidar

Public financing, including tax-exempt bond financing, of facilities used by professional sport teams has long been a controversial topic, with advocates and opponents disagreeing over whether the public benefits sufficiently to justify public subsidies. 
On March 15, 2017, the Securities and Exchange Commission (“Commission” or “SEC”) published in the Federal Register for comment proposed amendments to Rule 15c2-12 (the “Rule”) under the Securities Exchange Act of 1934 (“Exchange Act”).

IRS Clarifies New Management Contract Safe Harbors

January 24, 2017 | Blog | By Leonard Weiser-Varon, Maxwell Solet, Christie Martin

In August, 2016, the IRS issued Revenue Procedure 2016-44, the first comprehensive revision of its management contract safe harbors since Revenue Procedure 97-13.  Rev. Proc. 2016-44 (see our description here) built upon and amplified principles laid out in private letter rulings issued over many years and in Notice 2014-67. 

News & Press

This Forbes article addresses what really matters when investing in municipal bonds, citing a memorandum authored by Mintz Member Leonard Weiser-Varon.
Mintz Member Len Weiser-Varon is quoted in the Wall Street Journal on the new tax law that will allow all consumers with 529 ABLE savings program eligibility to select any state’s sponsored plan, not just that of their home state.

Events

Speaker
Jun
18
2015

Detroit and Puerto Rico

Minnesota Society of Municipal Analysts

Minneapolis, MN

Panelist
Feb
24
2015

Puerto Rico Panel Discussion

Global High Yield & Leveraged Finance Conference

Loews Hotel Miami Beach, FL