Law Firm News

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Law Firm News

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Akin Gump Strauss Hauer & Feld, L.L.P.

AKIN GUMP BECOMES FIRST U.S. LAW FIRM TO OPEN AT DUBAI INTERNATIONAL FINANCIAL CENTRE
The Dubai International Financial Centre (DIFC) announced today the issuance of the first license to a U.S. law firm, Akin Gump Strauss Hauer & Feld LLP, to open an office at the DIFC. Operating from the DIFC, Akin Gump will have access to a broad range of emerging markets stretching across Africa, the Middle East and South Asia.

Akin Gump, a firm with 16 offices around the world and a well-established Middle East presence, is now registered by the Dubai Financial Services Authority and authorized to provide legal services to financial institutions operating in the DIFC.

Akin Gump’s chairman, R. Bruce McLean, commented, “We entered the Dubai market to advise our clients on increasing investment to and from the Middle East. The area’s dramatic growth and continued development has further solidified our commitment to the region. We are very pleased to be the first U.S. law firm to be licensed in the DIFC, and we hope that others will follow our lead.”

Nasser Alshaali, chief executive officer of the DIFC Authority, said, “The ability to provide specialist legal advice is an important part of the infrastructure we are creating within the DIFC. As we continue to grow both horizontally and vertically, the DIFC is strengthening its many core competencies, including legal advice.”

He added, “Our vision in this regard is clear, as is our mandate: the continued rapid growth of the DIFC proves that this centre has become a truly international gateway for capital, which benefits Dubai, the UAE and the wider Middle East. In this regard, we are especially pleased to welcome Akin Gump, the first U.S. law firm to join us, as a new member of the DIFC family.”

Akin Gump lawyers have been advising clients in the region for several decades, and the firm has had a presence in the Middle East for over seven years. The firm's Dubai office, managed by energy and projects partner Gavin Watson, was opened in 2005 and advises clients on a range of matters, including alternative investment products, corporate/commercial activities, private equity transactions, and energy project development and finance.

Mr. Watson noted, “The importance of being licensed to operate in one of the world’s largest untapped financial markets cannot be overstated. The DIFC is doing a tremendous job of bringing together an array of resources to support the region’s economic growth. With significant expertise in private equity and investment funds, and a strong reputation in energy project development and finance, Akin Gump is ideally positioned to help our clients participate in this dynamic market. As the first U.S. law firm in the DIFC, we will work closely with the relevant authorities to raise awareness in the United States of the Dubai International Financial Centre and the significant opportunities it presents for U.S. corporates and investment institutions.”

The Dubai International Financial Centre was created by Dubai in 2004 to serve as an onshore hub for global finance, bridging the time gap between the financial centers of Hong Kong and London. With approximately USD $1 trillion in infrastructure projects underway or planned throughout the region, Dubai and the DIFC have emerged as key operational centers for firms seeking to provide specialized financial and legal services to the United Arab Emirates and beyond.

01-14-2007

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Paul, Weiss, Rifkind, Wharton & Garrison LLP

Oak Hill Capital Partners Acquires U.K. Business Process Outsourcer
The January 2 edition of Legal Week.com noted Paul, Weiss' representation of Oak Hill Capital Partners in its purchase of London-based business process outsourcer Vertex Data Science Ltd. for £218 million. Oak Hill was the lead investor in a consortium of U.S. private equity firms, including GenNx 360 and Knox Lawrence International.

01-14-2007

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Whiteford Taylor Preston LLP

OUR COLUMBIA OFFICE HAS MOVED
Whiteford, Taylor & Preston is dedicated to helping clients to achieve their business goals through strategic legal counsel. Founded in 1933, the firm has grown to over 160 attorneys in offices throughout Maryland, the District of Columbia, and Virginia.

01-13-2007

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O'Melveny & Myers, LLP

OMM Represents Underwriter in Smith Micro Software Public Offering
O'Melveny represented underwriter UBS Investment Bank in the recently closed public offering of 4.5 million shares of common stock of Smith Micro Software Inc. (NASDAQ: SMSI) priced at $14.75 per share. Included in the offering were 4 million primary shares offered by the company and 500,000 secondary shares offered by a selling stockholder. In addition, the company granted the underwriters an option to purchase up to an additional 675,000 shares to cover any over-allotments.

UBS acted as the book-running manager. The co-managers were C.E. Unterberg Towbin, Needham & Company, Merriman Curhan Ford & Co., and ThinkEquity Partners.

The O'Melveny team was led by partner Tim Curry, counsel Scott Graziano, partner David Furbush, and associates Kevin Vosen, Sandy Wang, and Nancy Walker. Partner Jeff Walbridge and associate Warren Fox advised on executive compensation. Counsel Winston Chang provided tax advice.

01-13-2007

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Goldberg & Kohn, P.C.

Principal Ronald Barliant presides over Chapter 11 bankruptcy mediation
Principal Ronald Barliant presided over the mediation between U.S. Energy Biogas Corporation (USEB) and Countryside Power Income Fund in New York City on January 12-13, 2007.

The agreement between USEB and Countryside concerns USEB’s Chapter 11 filing in the United States Bankruptcy Court for the Southern District of New York in 2006. The agreement will allow USEB and its parent, U.S. Energy Systems, Inc., to establish new financing and pay all of its creditors in full. The agreement provides for Countryside to have an allowed secured claim of approximately $99,000,000, the only allowed claim they will have in the case. USEB plans to move towards a plan of Chapter 11 reorganization pending the agreement’s approval by the United States Bankruptcy Court in the Southern District of New York and each party’s respective boards.

Hunton & Williams LLP and WilmerHale LLP represented USEB in the mediation and Chapter 11 cases. Simpson Thatcher & Bartlett LLP served as Countryside’s legal adviser.

01-12-2007

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Fraser, Stryker, Meusey, Olson, Boyer & Bloch, P.C.

Fraser Stryker to Award Diversity Scholarships In 2007
Fraser Stryker has announced the formation of the Fraser Stryker Diversity Scholarship Program and will begin awarding college-level scholarships in 2007. The purpose of the Program is to provide college tuition assistance and paid internships at the Firm for students of African-American, Asian, Latino, and Native-American origins from low-income families in the Omaha metro area. Scholarships are for students who are interested in a career in law.

“We know there are talented students of color who would make excellent lawyers but simply lack the necessary financial resources," said Fraser Stryker partner Stephen Bruckner, the Program director. “We hope to fill a void by providing tuition assistance for college-bound students and also giving our Fraser Stryker Scholars the opportunity to learn about the practice of law by working in our firm during the summer months."

The initial deadline to apply for the 2007 Fraser Stryker Diversity Scholarships is March 9, 2007. Applications and brochures will be available in the counselor's office at Omaha metro high schools. For additional information about the program, visit our Diversity Scholarship Program page or contact Stephen Bruckner or Sherman Willis. The scholarships are to be used for tuition, fees, books, supplies and the equipment incurred by the Scholars to further their education. The Firm plans to award two scholarships in 2007. Each scholarship will be in the amount of $2,500 per academic year.

01-12-2007

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Baker, Donelson, Bearman, Caldwell & Berkowitz, PC

Baker Donelson Attorney to Head International Franchise Association Compliance Program
Joel R. Buckberg, head of the franchise and hospitality practice of the law firm of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC, has been named by the International Franchise Association to serve as administrator for the group's Franchise Compliance Program, an educational program designed to aid companies in meeting the requirements of franchise sales and disclosure regulations.

"The International Franchise Association is committed to helping the franchising community comply with all applicable federal and state franchise laws," IFA president Matthew Shay said. "Joel Buckberg's extensive experience in franchise law and his service with many of the sector's top brands are valuable assets that will ensure the continued success of this program."

Mr. Buckberg previously served as executive vice president and deputy general counsel of Cendant Corp., where he was involved in acquisitions, international master license transactions and the supervision of legal practice groups. Active in IFA, he has served on the association's Legal/Legislative Committee and regularly participates as a speaker for the IFA Legal Symposium.

Launched in 1998 in partnership with the Federal Trade Commission and state franchise regulators, the Franchise Compliance Training Program features comprehensive and detailed training sessions delivered to franchise systems at their headquarters locations. IFA represents the world's leading franchise brands, their small-business franchisees and sector suppliers. Details about the program and related educational programs offered by the 47-year-old association can be found at www.franchise.org.

01-12-2007

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