Law firm acquires Grosse Pointe firm
A law firm with a local presence is expanding its bond counsel services after acquiring a firm on the state's east side.
Detroit-based Clark Hill said last week that the attorneys and staff of Grosse Pointe-based Axe & Ecklund joined the firm’s Detroit office on Aug. 1.
Clark Hill also has offices in Grand Rapids, Lansing, Birmingham and nationally.
Axe & Ecklund consisted of attorney’s John Axe, who joins Clark Hill as senior counsel, and Peter Ecklund, who joins the firm as a member, as well as three staff members.
Axe & Ecklund advised cities, counties, villages, townships and other government agencies on the best way to issue municipal bonds and notes.
The firm developed individualized ways for municipal clients to market their bonds, notes and other debt and revenue obligations.
The firm mainly assisted government agencies in raising funds by structuring the borrowings, preparing all legal documents, conducting a competitive sale and providing its “unqualified opinion" on the validity and tax exemption of the bond issue.
The firm brings its “existing suite of bond counsel services” to Clark Hill.
“This is a great opportunity for our firm to expand our municipal bond expertise,” said Jeffrey Conn, leader, Clark Hill Banking & Finance Practice Group. “We look forward to the insight and talent this team will bring.”
Axe has more than 50 years of experience as a practicing bond attorney and financial consultant in municipal issues.
He is a co-author of Michigan Municipal Law, a two-volume work published in 1981 by the Institute of Continuing Legal Education for the University of Michigan.
In 2012, he was appointed to the Michigan Judges Retirement Board by Governor Rick Snyder, and in 2013, the governor appointed Axe to the Pontiac School District Financial Review Team.
Ecklund has experience in municipal and legislative issues, specifically in public finance. His practice includes representing counties, cities, villages, townships, utility authorities and tax-exempt organizations.
Ecklund has been the lead attorney in more than 300 municipal bond and note offerings. He works with clients in ordinance, millage and legislative drafting.