CHICAGO - The Chicago-based law firm of Shefsky & Froelich Ltd. said this week that it has entered the bond counsel business.
Erhard Chorle, a partner, said the firm made its debut by acting as bond counsel for a privately placed $577,000 Wood Dale, III., Park District debt issue that closed Tuesday.
Chorle said the law firm bepn exploring the possibility of a bond counsel practice shortly after he joined the firm in June from his position as executive assistant to Gov. Jim Edgar of Illinois. He said that several lawyers at Shefsky & Froelich have worked as bond counsel while at other firms and that it seemed "logical" to tap their expertise at Shefsky.
"Our business is growing, and given the collective skills and expertise of the people here, getting into the area of municipal finance only makes sense," said Chorle, who win be one of the participants in the bond counsel business.
Chorle said the firm has tax and securities departments and has worked for local and state governments in various capacities. Shefsky & Froelich has responded to requests for qualifications for bond counsel from local governments and would respond to requests from Illinois and its bonding authorities "if we thought it was work we could handle competently and efficiently," he said.
"Our plan is to let folks know we are available and have the knowledge and expertise to do work in the area of municipal finance," Chorle said.
Chorle became executive assistant to the governor for financial regulation, financing authorities, and pension funds after Edgar took office in 1991. Before that, he served as Edgar's legal counsel when Edgar was the Illinois secretary of state, and also served as state securities commissioner.