WASHINGTON -- Wood Dawson & Hellman, the bond counsel firm that attracted nationwide attention in the mid-1980s when it was sued by the holders of $2.25 billion of defaulted Washington Public Power Supply System bonds, is being absorbed by Hawkins, Delafield & Wood, Hawkins announced Friday.

All eight Wood Dawson partners will join Hawkins Delafield as of today. The absorption of the firm, which agreed in August 1988 to pay bondholders $500,000 to settle the lawsuit filed over the firm's role as WPPSS bond counsel, signals the end of small, specialized New York municipal bond firms, market observers said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.