Law Firm News

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Law Firm News

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McDermott Will & Emery

Corporate Insurance Partner Joins New York Office
The New York office of McDermott Will & Emery is pleased to announce the arrival of Robert A. Ansehl as a partner in its Corporate Department. Mr. Ansehl focuses on corporate and regulatory matters for U.S. and international insurance and reinsurance companies and for banks, private equity and hedge funds serving the insurance industry.

Mr. Ansehl has experience with financings, mergers and acquisitions, securitization transactions, life settlements, sureties and financial guarantees, self insured and captive programs, as well as public and private capital markets and alternative capital market transactions. Mr. Ansehl also advises on state insurance regulatory aspects of transactions and works with clients on insurance and reinsurance-based derivative transactions. He represents insurers, reinsurers (including start-ups), agencies and other producers in numerous regulatory and compliance matters, including the successful resolution of a number of market conduct and unfair trade practices investigations.

"Bob adds a new dimension to our corporate practice," commented Timothy Alvino, co-head of the Firm's Corporate Department. "His insurance transaction focus fits well with our structured finance practice while complementing our other insurance related practices. We believe in building on our strengths, and Bob's practice will allow us to extend the services that we can provide to our growing financial institution client base."

Mr. Ansehl earned his J.D. with distinction from Brooklyn Law School and is A.B., magna cum laude, in mathematics from Washington University. He is admitted to practice in New York. Mr. Ansehl was an official advisor to the drafting committee of the American Law Institute, National Conference of Commissioners of Uniform State Laws on Article 4A. He also has been a member of several advisory committees to the National Association of Insurance Commissioners.

"McDermott presented the opportunity to be part of a growing, dynamic practice with a strong existing insurance client base," commented Mr. Ansehl. "There will be significant benefits to being part of this team for my clients and my practice."

McDermott's Corporate Department lawyers represent a wide spectrum of business interests around the world, from Global 50 companies to venture backed start-ups as well as the financial institutions that support them. The Firm's lawyers are highly skilled business lawyers focused on solving complex business problems. Lawyers in our Insurance Industry Group possess extensive experience representing insurance companies and users of insurance products in a broad range of transactional and controversy matters.

03-07-2007

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Kaye Scholer LLP

Kaye Scholer Commemorates the 150th Anniversary of the Dred Scott Decision
Two Men Before the Storm: Arba Crane's Recollection of Dred Scott and the Supreme Court Case That Started the Civil War, by Gregory J. Wallance, partner in Kaye Scholer's litigation group, is based on historical events: the profound friendship between a young lawyer and a slave and a fight for justice that fundamentally changed our nation. A work of historical fiction (with detailed historical endnotes), it is especially timely since March 6, 2007 is the 150th anniversary of the Dred Scott decision.

03-07-2007

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Wolf Block Schorr & Solis

WolfBlock Raises Associate Starting Salaries
WolfBlock is pleased to announce that it will be increasing the starting salaries for first-year associates in several of its offices.

For associates in WolfBlock's Philadelphia and Cherry Hill offices, the starting salary is increasing from $125,000 to $135,000. In the New York office, the starting salary for associates will rise from $130,000 to $145,000. In Roseland, NJ, the starting salary is increasing from $100,000 to $115,000. All increases are retroactive to February 1, 2007.

"Our continued strong financial results for our most recent fiscal year, which continue a three-year upward trend of meaningful growth for us, enable us to remain a competitive force for attracting talented lawyers," said Mark L. Alderman, Chairman of WolfBlock. "This increase in starting salaries for associates will bolster our competitive edge in the marketplace.

03-07-2007

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Wilmer, Cutler, Pickering, Hale & Dorr, L.L.P.

WilmerHale Advises Linde on the Sale of Linde Gas UK
Technology company The Linde Group sold its British subsidiary Linde Gas UK Limited to the worldwide industrial and medical gases company Air Liquide. The sale was one of the antitrust conditions imposed by the European Commission for the acquisition of The BOC Group plc by Linde, and relates to Linde's non-BOC gas activities in the UK.

Currently employing 280 staff, Linde Gas UK generated sales of approximately EUR 60 million in the 2006 financial year. The sale, which remains subject to clearance by the competent authorities, involved an enterprise value of EUR 105 million.

WilmerHale regularly advises Linde on matters regarding competition law and merger control. In previous months, WilmerHale has advised and represented Linde on its acquisition of The BOC Group plc and Spectra Gases Inc., as well as the disposal of BOC Gazy Sp. z o.o., KION GmbH and the components division of subsidiary BOC Edwards. In addition, WilmerHale assisted Linde in the realignment of its various joint ventures in Asia.

In the disposal of Linde Gas UK, Linde was advised on merger control issues by Berlin partner Ulrich Quack as well as the associates Dr. Alexander Jüngling and Christian Wörz from the Berlin office.

03-07-2007

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Willkie, Farr & Gallagher, LLP

London Office Assists Underwriters in GE’s $2.8 Billion Sale of Swiss Re Common Shares
GE announced the sale of its holdings of Swiss Re common shares, yielding proceeds of $2.8 billion upon completion. Willkie advised the underwriters Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley and UBS in the transaction. Terms of the sale include GE selling 16.65 million shares at a price of 104 Swiss francs per share. Concurrently with the closing of the offering, Swiss Re also repurchased 16.65 million shares directly from GE for 1.71 billion Swiss francs. The deal was handled by partner Gregory Astrachan, special European counsel Jon Lyman, and associate Jonathan Gatsik.

03-07-2007

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Thelen, Reid, Brown, Raysman & Steiner, LLP

Thelen China Team Closes Two More Reverse Mergers
Thelen Reid Brown Raysman & Steiner LLP’s China practice group has just completed two reverse merger transactions on behalf of two clients based in China.

In the first reverse merger, Thelen represented Sutor Steel Technology Co., Ltd. in the closing of a stock exchange transaction with Bronze Marketing, Inc. and a related $12 million private placement financing. As a result of the exchange transaction, which closed on February 1, 2007, Sutor Steel has become a wholly-owned subsidiary of Bronze Marketing, and the companies will now operate on a consolidated basis.

Sutor Steel manufactures and sells steel finishing fabrication products through its wholly-owned subsidiaries Changshu Huaye Steel Strip Co., Ltd. and Jiangsu Coldrolled Technology Co., Ltd., located in the People's Republic of China.

In the second deal, which closed on February 16, 2007, the firm represented Ritar International Group Limited in a share exchange transaction with Concept Ventures Corporation and a related $12.25 million private placement financing.

Ritar, now a wholly-owned subsidiary of Concept Ventures, designs, develops, manufactures and sells environmentally friendly lead-acid batteries with a wide range of applications and capacities, and has a strong presence in China’s light electric vehicle (or “LEV”) market.

Both deals utilize the Alternative Public Offering (or “APOSM”) transaction model. APOSM is a service mark of Halter Financial Group, Inc. (HFG). HFG’s APO services allow privately-held corporations to go public via the reverse merger process and simultaneously complete a private capital raising transaction.

The transaction team for these matters was led by Shanghai managing partner Tom Shoesmith and Washington, DC-based Business and Finance partners Lou Bevilacqua and Joe Tiano, and includes Washington, DC associates Jing Zhang and Qixiang Sun, and Simone McBean Yatrakis, along with PRC legal consultants Qiaozhu Chen and Julian Zou in the firm’s Shanghai office.

03-07-2007

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Ross, Dixon & Bell, LLP

RDB Attorney Successful in Pro Bono Case
RDB Associate, Timothy Furrow successfully represented a Chicago woman living in deplorable conditions in a lawsuit against her landlord. The client sought help from the Legal Assistance Foundation of Metropolitan Chicago where Mr. Furrow is a volunteer attorney. After taking on the case, Mr. Furrow successfully obtained damages for his client.

This recent pro bono victory was featured in the March 2007 issue of the “Pro Bono Initiative E-newsletter.

03-07-2007

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