Quote:
Originally Posted by Villages Kahuna
The other party that may be at the most significant risk is the law firm or law firms who issued the legal opinions at the time of each bond issuance that each specific issuance was tax exempt.
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I have never known a lawyer/firm to incur liability for giving bad advice unless there was personal gain involved. The recipient of that legal advice can either accept that advice or reject it. Once the recipient accepts that advice it becomes his/her position. But again, that's my personal understanding and opinion.