Karol K. Denniston has provided bankruptcy analysis and counsel to clients for more than 25 years. Currently, her practice is focused on municipal restructurings, including neutral evaluation designed to eliminate the need for a Chapter 9 filing or make a Chapter 9 filing more efficient. Ms. Denniston played a key role in the drafting and passage of Assembly Bill 506 (AB 506), which requires municipalities in California to participate in a neutral evaluation process before filing for bankruptcy.
Currently, Ms. Denniston is working with a large bond insurer in connection with the refinancing, restructuring and enforcement of several redevelopment agency bonds and special counsel to the City of Pacific Grove. Ms. Denniston frequently provides advice to issuers, underwriters, trustees, bondholders and insurers in connection with disclosure issues, new issuances, and restructurings.
Ms. Denniston appreciates the need to implement timely and cost-effective structures to resolve troubled transactions, and has a strong interest in how alternative dispute resolution can be used by municipalities to reduce restructuring costs. She is an experienced mediator and arbitrator, and on behalf of clients has utilized all forms of alternative dispute resolution to resolve matters arising in distressed multinational transactions. Ms. Denniston lectures frequently on municipal restructuring, pension obligations, and service insolvency, focusing on how parties can best reach agreement on establishing fiscal sustainability.