Law Firm News

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Law Firm News

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Weil, Gotshal & Manges, LLP

Weil Gotshal Advises GE Capital Solutions on Transactions Involving PHH Corporation
Weil, Gotshal & Manges LLP is advising GE Capital Solutions on two transactions involving PHH Corporation. The firm counseled GE Capital Solutions in its pending $1.8 billion acquisition of PHH. PHH comprises PHH Arval, a North American fleet management services provider, and PHH Mortgage, a retail originator and servicer of residential mortgages in the US. GE has agreed to sell PHH Mortgage to The Blackstone Group, and the firm is advising GE in connection with that transaction. GE Capital Solutions is the business-to-business leasing, financing and asset management unit of General Electric Company.

03-14-2007

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Robinson & Cole LLP

Robinson & Cole Trial and Appellate Lawyer Published in For The Defense
Robinson & Cole Trial and Appellate Lawyer Jude Francois wrote the article “The Assignment of Insured’s Rights” that appeared in the Young Lawyers section of the February 2007 issue of For the Defense.

03-14-2007

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Paul, Hastings, Janofsky & Walker LLP

Paul Hastings Advises on the US$200 Million Sale of the Largest High-Brightness LED Supplier in China
Paul, Hastings, Janofsky & Walker (Paul Hastings), a leading international law firm, represented COTCO Group in the sale of COTCO Luminant Device Ltd. (Hong Kong), an LED lighting manufacturing business which is the largest high-brightness LED supplier in China, to Cree, Inc., a Nasdaq-listed company. The deal is a combined stock and cash transaction valued at US$200 million.

Under the terms of the agreement, COTCO may receive additional payments in cash or Cree stock of up to US$125 million as earnout consideration upon the fulfillment of certain conditions.

The Paul Hastings team was led by partner Jacqueline Lim and associate Daniel Kim who were assisted by Dongho Lee, Lei Liang, Beryl Sit, Etsuo Doi and Jane Song from the Hong Kong, Tokyo and San Diego offices.

03-14-2007

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Paul, Hastings, Janofsky & Walker LLP

Paul Hastings Advises Doran Capital on Its First Korea Real Estate Private Equity Fund
Paul, Hastings, Janofsky & Walker (Paul Hastings), a leading international law firm, represented Triseas KOREA PROPERTY FUND, L.P. in the formation of a US$250 million private equity fund targeting the Korean real estate market. This fund is the first in a series of funds being launched by Doran Capital Partners, a global fund and asset manager.

"With country-specific funds gaining in popularity, there is great need for cross-border one-stop-shop legal services", said John A. Cahill, a partner in the firm's Real Estate Department. "We are very pleased to have advised the Triseas fund on its successful establishment of the Korea Property Fund."

Triseas recently closed a large subscription credit facility with Morgan Stanley, which is expected to greatly enhance the fund's flexibility in acquiring assets for the Korea fund. Triseas closed its initial round of fund-raising in last December with over $125 million in equity. The fund has investor commitments of over $200 million and expects to close the fund with a total of $250 million in equity. With gearing at the property level, the fund may be able to invest as much as approximately $700 million.

The Paul Hastings global team was led by partner John A. Cahill and included partners Justin Hamer and Joshua Sternoff, and associates David Steinberg, Jonathan Shenkman and Marisa Corvisiero.

03-14-2007

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Fulbright & Jaworski L.L.P.

Former ExxonMobil Counsel to Join Fulbright’s Litigation Department
John Tully, who spent more than a quarter century as a member of ExxonMobil’s law department, joined Fulbright & Jaworski L.L.P.’s New York office this week as a litigator.

Tully, who will be of counsel at Fulbright, worked in New York at a litigation firm following a decades-long legal career at ExxonMobil. Tully commenced his legal work at Exxon as staff counsel in 1977 and worked his way up to become ExxonMobil’s assistant general counsel responsible for worldwide litigation.

“John is an experienced litigator who handled major matters for Exxon,” said Steven B. Pfeiffer, the chair of Fulbright’s Executive Committee. “His experience overseeing ExxonMobil’s worldwide litigation matters and his adeptness at handling disputes makes him a perfect fit for our expanding worldwide litigation practice, especially in a financial center such as New York.”

Tully first began working alongside Fulbright attorneys more than two decades ago when he moved to Houston with Exxon.

“John’s addition to our firm is a strategic move as we work to expand our litigation practice in New York,” said Stephen C. Dillard, chair of Fulbright’s worldwide litigation department. “John brings invaluable experience, familiarity and proficiency in handling energy litigation.”

Fulbright is recognized as a premier energy firm with a diversified practice that serves the needs of the global energy industry. Fulbright also has a noted litigation practice that has been a cornerstone of the firm since 1919. Fulbright’s litigation prowess stems from such giants of the profession as Leon Jaworski, Kraft Eidman, Jim Sales and the firm’s co-founder John Crooker, Sr.

Tully said he’s always been impressed with the legal skill, professionalism and personal qualities of those he’s worked with from Fulbright.

“I retired from ExxonMobil three years ago to return to my hometown of New York,” Tully said. “Since then, I have gotten to know Fulbright’s New York attorneys, who have the same great qualities that I have always admired in those I’ve met at other Fulbright offices. I am honored to become a part of Fulbright’s proud tradition and looking forward to this great opportunity with a firm that represents and stands for only the very best.”

Currently, Tully is defending ExxonMobil in a number of commercial, environmental and personal injury and property damage lawsuits in New York state and federal courts. During his career at Exxon, he also litigated environmental and employment law issues and advised management in all aspects of ExxonMobil’s business, including Exxon’s refinery and chemical plant operations.

Tully began his career in the New York County District Attorney’s office, where he tried ten murder cases to verdict as a member of the homicide bureau.

While an assistant attorney general for the state of New York, Tully worked on grand jury investigations and trials involving organized criminal activity. He also spent a year as a trial attorney with the U.S. Securities and Exchange Commission, where he conducted investigations and handled administrative proceedings.

“John is a litigator who has handled everything from criminal trials to major civil disputes,” said William Bush, the head of Fulbright’s New York office. “His wealth of experience when it comes to dispute resolution and valued perspectives will assist our clients worldwide.

03-14-2007

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Dewey & LeBoeuf LLP

Poker Players Move for Summary Judgment Against The World Poker Tour
Today, seven of the world’s leading professional poker players filed a motion for summary judgment against WPT Enterprises, Inc. (“WPTE”) in federal district court in Los Angeles. In their motion for summary judgment, Plaintiffs Chris Ferguson, Andrew Bloch, Annie Duke, Phil Gordon, Joseph Hachem, Howard Lederer, and Greg Raymer have presented undisputed facts which establish that WPTE, which owns the World Poker Tour (“WPT”), has committed multiple violations of federal antitrust laws.

Specifically, the Plaintiffs seek a summary declaration by the Court that WPTE and the casinos which host WPT events have unlawfully conspired to force poker players to sign non-negotiable “releases” that require those players to grant WPTE the right to use their valuable names, likenesses, voices and images for zero compensation so that WPTE can exploit these rights to promote its own products and services. The Plaintiffs contend that the undisputed facts establish that WPTE and the casinos have agreed to boycott and exclude from WPT events any poker player who does not sign such a “release.” The Plaintiffs have also offered undisputed evidence that WPTE and the casinos are conspiring to restrict the number of poker tournaments in competition with the WPT by agreeing that the casinos cannot sponsor any televised non-WPT events. The Plaintiffs contend that these agreements constitute “per se” or “quick look” violations of federal antitrust laws. The “per se” and “quick look” tests apply to conduct which is so inherently anticompetitive that a court may summarily decide that such conduct violates U.S. antitrust laws without the need for full discovery or a trial.

If the motion is granted, WPTE will be permanently enjoined from: (1) agreeing with the
casinos to require the Plaintiffs and other poker players to sign releases granting WPTE the right to use those players’ intellectual property rights to promote WPTE products and services; (2) using the grant of Plaintiffs’ intellectual property rights obtained from past releases; and (3) prohibiting casinos from sponsoring non-WPT poker tournaments.

Jeffrey Kessler, lead counsel for the poker players, stated: “If the players prevail in this summary judgment motion, WPTE’s unlawful agreements will come to a quick end without the need for further discovery or a trial. All poker players would then be able to compete in WPT tournaments without being forced to give up their valuable intellectual property rights for no compensation and the casinos would be free to sponsor competing televised poker tournaments of their own.”

A copy of the public version of Plaintiffs’ motion for summary judgment will be available at http://www.wptlawsuit.com/. Plaintiffs are represented by the law firm of Dewey Ballantine LLP, whose attorneys have successfully represented NFL, NBA, and other players in similar antitrust lawsuits.

03-14-2007

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Carlton Fields

Daily Business Review Article Highlights Carlton Fields’ Leadership in Pro Bono Representation
Daily Business Review recently featured an article entitled “Prominent Law Firms Report a Pro Bono Pullback.” The article highlighted data collected by The American Lawyer magazine and the Daily Business Review regarding pro bono work undertaken by four major Florida law firms over the last year. Of the four firms surveyed, Carlton Fields was the only firm to increase the amount of time spent on pro bono representation over the last year. The other firms (Akerman Senterfitt, Greenberg Traurig and Holland & Knight) all reported that the hours spent on pro bono work for indigent clients declined 14 percent to 16 percent from 2005 to 2006.

03-14-2007

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