Often serving as bond counsel or underwriter's counsel, Hobby has worked on hundreds of transactions for governmental and nonprofit borrowers. In addition, he has served in various other roles in bond financings, including counsel to credit enhancers and counsel to issuers. A significant portion of his practice is devoted to healthcare finance for nonprofit and governmental hospitals and systems. Complementing his work in healthcare finance, Hobby's transaction portfolio also includes significant merger, acquisition and joint venture structuring and documentation. Hobby also advises public finance clients on post-issuance tax compliance, including change in use rules, arbitrage rebate compliance, and tax controversy and audit representation.
Hobby also helps clients utilize swaps and other derivative products to hedge against various risks. He represents both swap market makers and users of derivative products.
A Birmingham native, Hobby is a 1972 magna cum laude graduate of Birmingham-Southern College. Hobby was named a Patrick Wilson Scholar at Vanderbilt School of Law, receiving his J.D. in 1975. In law school, he was also an editor of the Vanderbilt Law Review. In college, he was elected a member of Phi Beta Kappa and Omicron Delta Kappa. He is a member of the Birmingham and American Bar Associations and the Alabama State Bar. He is also a former President of the National Association of Bond Lawyers ("NABL") and has served as a member of the NABL Board of Directors and various committees and task forces. In addition to conducting frequent seminars at NABL educational events, Hobby has also served as Chair of the NABL Bond Attorneys Workshop.
Member of American College of Bond Counsel
Listed in The Best Lawyers in America®, Public Finance, 2003-Present
Lawyer of the Year, Public Finance, Birmingham, Alabama, Best Lawyers®2011
Alabama Super Lawyers, 2008 – 2010
Legal Counsel to Governor's Task Force on Education Reform (1993) and Campaign for Alabama (2002-2003)
Alabama Appleseed Project (2010)
Board of Directors, Youthserve