Law Firm News

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Law Firm News

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Robinson & Cole LLP

Robinson & Cole Insurance Group Lawyer Presents Workshops at Windstorm Insurance Conference
Robinson & Cole Insurance Group lawyer Rebecca Levy-Sachs presented two workshops at the 2007 Annual Windstorm Insurance Conference. Her workshops, entitled "Riding the Rails of Business Interruption - Business Interruption Issues Arising Out of Catastrophes," focused on the types of issues which arise when there is a market downturn or upturn as the result of a catastrophe, such as a hurricane, that affects an entire geographic area.

03-12-2007

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Paul, Weiss, Rifkind, Wharton & Garrison LLP

Michael Segal Quoted in Article on Private Equity Partner Departures
Employee benefits partner Michael Segal was quoted in an article on negotiating the exit paths of private equity partners in the March issue of Private Equity Manager. Michael discussed carried interest and general partner agreements, among other topics.

03-12-2007

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Paul, Hastings, Janofsky & Walker LLP

Paul Hastings Partner Paul Harner Named Fellow of American College of Bankruptcy
The international law firm Paul, Hastings, Janofsky & Walker LLP (Paul Hastings) is pleased to announce today that Paul Harner, a partner in the firm's Global Bankruptcy and Restructuring Practice resident in the Chicago office, will be inducted as a fellow of the American College of Bankruptcy on March 23, 2007 in Washington, D.C.

Mr. Harner is among 26 nominees from the United States and abroad who will be inducted into the Eighteenth Class (2007) of College Fellows. Nominees are extended an invitation to join based on a proven record of the highest standards of professionalism, service and contributions to the fields of bankruptcy and insolvency.

The ceremony will take place at the historic National Building Museum and will be presided over by Evelyn H. Biery, chair of the college. The keynote speaker will be Raymond L. Shapiro, Esq.

Mr. Harner is consistently rated among the top bankruptcy and insolvency lawyers in the United States in publications such as Chambers USA: America's Leading Business Lawyers, IFLR 1000, and Who's Who Legal. He has been named one of the "Outstanding Bankruptcy Lawyers" in the United States by Turnaround & Workouts, which named him on three prior occasions to its annual listing of "Outstanding Young Bankruptcy Lawyers" in the nation. Mr. Harner received his J.D. from Duke University School of Law in 1985.

03-12-2007

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Baker & McKenzie, L.L.P.

Baker & McKenzie LLP Represented Bank of Montreal in a Cross-Border Credit Facility Transaction
Baker & McKenzie LLP represented the Bank of Montreal, acting through its Toronto branch, as borrower in connection with a credit facility for an amount in Mexican pesos not exceeding the equivalent of US$100 million provided by Banco Inbursa, S.A., Institución de Banca Múltiple, Grupo Financiero Inbursa, as Lender.

The Baker & McKenzie team was lead by banking & finance Partners Jose A. Moran and Craig Meland with the assistance of Partner Hugo Dubovoy, and Dona Offemaria and Nancy Vidad in Chicago; Partner Nurhan Aycan, and Debbie Alexander and Ben Iraya in Toronto; and associate Erik Gutierrez Zuñiga in Mexico City.

“We are pleased to have assisted the Bank of Montreal on this transaction. The success of this deal is testament to Baker & McKenzie’s seamless, cross-border capabilities,” said Jose Moran, Banking & Finance Partner in Chicago.

Banco Inbursa was represented by Simpson Thacher & Bartlett in New York.

03-12-2007

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Baker & McKenzie, L.L.P.

Baker & McKenzie Advises on First Cross-Border Securitization Deal in Ukraine
Baker & McKenzie announced today that it has advised on the first international securitization of loan assets from Ukraine, acting as transaction counsel on Ukrainian law matters in the groundbreaking transaction of securitization of a residential mortgage loan portfolio of Joint Stock Company Commercial Bank “PrivatBank”, the largest commercial bank (by assets) in Ukraine.

The securitization was structured as a true sale of PrivatBank’s rights of claim under a USD-denominated mortgage loan portfolio to Ukraine Mortgage Loan Finance No.1 Plc, a UK company, which issued three classes of residential mortgage-backed notes to fund the purchase of the rights of claim. The purchase price was set up at USD180 million and the notes were listed on the Irish Stock Exchange. This transaction closed on 28 February 2007.

The Baker & McKenzie team was led by Partner Serhiy Chorny. The Firm’s transaction team included Associates Glib Bondar, Ihor Olekhov, Anna Makedonska, Vsevolod Volkov and Roman Stasiv.

Commenting on the transaction, Serhiy Chorny said: “Five years ago, our Firm was the first to launch a new product for Ukrainian companies and banks seeking international financing – Eurobonds offered in the international capital markets. Since then, we have successfully closed 17 Eurobond transactions, most of which were debuts for our Ukrainian clients. Today, we are once again leading the market by introducing international securitization opportunities to Ukraine. We are proud that our long-term client PrivatBank was the first to close an international securitisation transaction. We are confident that other Ukrainian companies and banks will soon benefit from this new product, which will permit them to develop their businesses at a higher pace and to improve their stance in the domestic and international markets.

03-12-2007

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Baker & Hostetler, L.L.P.

Baker Hostetler Helps Make Air America 2.0 a Reality
After filing for Chapter 11 bankruptcy in October, the progressive political talk radio network Air America had been looking for a way to continue operations. At stake were its production of 19 hours of original programming a day, heard on 92 affiliate stations, reaching 2.4 million listeners per week. But, after numerous potential acquirers balked, the company was on the brink of liquidation in late January when Green Family Media LLC, an entity formed by New York real estate investor Stephen L. Green, the founder and chairman of SL Green Realty Corp., a New York Stock Exchange traded real estate investment trust, stepped forward to rescue the business.

Green Family Media LLC won bankruptcy court approval to acquire the assets in mid-February and the deal closed on March 6, 2007, with Air America Media LLC, controlled by Green Family Media LLC, purchasing the assets of Air America. Stephen Green is Chairman of Air America Media LLC; his brother, Mark Green, the former New York City elected official and 2001 Democratic nominee for Mayor, is President of the company.

A core team from Baker Hostetler represented Green Family Media LLC throughout the bankruptcy process and the acquisition. Steven Goldberg led the M&A team that included, among numerous others, Melissa Leonard, Eleni Stratigeas. Bill Toomajian provided tax counsel and Doug Spelfogel handled the bankruptcy process along with Richard Bernard. John Siegal, who has long been an advisor to the Green family, continued in that role in this transaction. BH’s involvement also included the renegotiation and documentation of the company’s major contracts, including with its marquee on-air talent, satellite radio distributor, major market affiliates, union and retained executive employee.

Mr. Goldberg noted that "this deal was far more complex and received far more public attention than the distress acquisition price would indicate. It involved nearly every discipline in our practice and a negotiation with prior investors and lenders who have become minority members of the new business entity." Mr. Spelfogel added that it was "greatly satisfying to be counsel to the white knight, to save a troubled company, and breathe new life into a difficult financial situation."

Baker Hostetler has been retained to represent Air America Media LLC in its on-going business affairs.

A feature story on the transaction, which noted the represenation by Siegal, Goldberg and Spelfogel, was published on TheDeal.com on March 8.

03-12-2007

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Patton Boggs LLP

Noted Real Estate Finance Specialist Allan B. Goldstein Joins Patton Boggs LLP
Patton Boggs is pleased to announce that Allan B. Goldstein has joined the firm as a partner in the Washington, D.C. office. Mr. Goldstein’s practice focuses on real estate finance, commercial development, and real estate investments.

“Allan’s arrival will bolster our overall real estate, project finance, and taxation capabilities. In particular, his vast knowledge of federal taxation matters combined with his trial experience is a welcome asset,” said Stuart M. Pape, Managing Partner.

Mr. Goldstein represents developers and owners of real estate in connection with the acquisition, financing, developing, leasing, and disposition of real estate projects, while also advising equity investors in a wide variety of real estate projects and tenants in commercial leasing transactions. He also assists clients in lending transactions, offering counsel to banks, insurance companies, and other financial institutions, as well as borrowers, in connection with a broad range of financing transactions. Mr. Goldstein brings significant federal income tax experience, which enables him to provide representation in the structure and implementation of many exchanges under Section 1031 of the Internal Revenue Code.

Before joining Patton Boggs, Mr. Goldstein was an equity partner for an Atlanta-based AmLaw 100 firm in one of its D.C.-area offices. His more than twenty years of experience working for major law firms is preceded by his service as a trial attorney in the Tax Division at the U.S. Department of Justice (DOJ) and his work in the Chief Counsel’s Office at the U.S. Customs Office.

He completed an L.L.M. (Taxation) at George Washington University in 1978 and is a graduate of Albany Law School of Union University, where he earned a J.D. and was a member of the Albany Law Review in 1973. Mr. Goldstein completed his undergraduate work at George Washington University in 1970.

03-12-2007

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