New Jersey Supreme Court Clears Gov. Murphy’s $10 Billion Borrowing Plan

Peter G. Verniero, Chair of the Sills Cummis Corporate Internal Investigations and Appellate Practice Groups was asked about the recent New Jersey Supreme Court ruling in New Jersey Republican State Committee v. Murphy in which the court “upheld a law giving the state the authority to borrow $9.9 billion to cover a budget short fall stemming from the coronavirus shutdown.”

According to the article, “Peter Verniero, a former justice of the New Jersey Supreme Court and former state attorney general, said, ’The COVID-19 pandemic was central to the court’s historic decision’ and paved the way for the state to borrow funds without voter approval.”