Law Firm News

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Law Firm News

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Kramer, Levin, Naftalis & Frankel, LLP

Kramer Levin Wins Asylum For Victim of Female Genital Mutilation from Cote d'Ivoire
Leslie Nguyen and Matthew Abbott have obtained a grant of asylum for a woman from Cote d'Ivoire (Ivory Coast) who was a victim of female genital mutilation (FGM). Having successfully removed her 12-year old U.S. citizen daughter from Cote d'Ivoire, where her ex-husband's family was planning to subject her to FGM, the client sought asylum based on her fear that she would be persecuted by her ex-husband's family and the community if she returned to Cote d'Ivoire because of the her efforts to save her daughter from FGM. The case was complicated by the fact that the client was filing her asylum application twelve years after her first arrival in the United States, well past the one year filing deadline, which is usually an absolute bar to obtaining asylum. The Kramer Levin team filed an affirmative asylum application and prepared extensive briefing on these issues, successfully arguing that the client had experienced changed circumstances sufficient to overcome the one year filing deadline, based on the recent arrival of her daughter in the U.S. and the threat that her daughter, who had no one else to care for her, would be constructively deported if the client were forced to leave the U.S. Then-summer associates Katie Pirozzolo and Keith Martorana and paralegal Marina Sokolinsky assisted on the matter, which was supervised by Erin Walter. The matter was referred by Sanctuary for Families.

12-19-2006

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Kaye Scholer LLP

Kaye Scholer Represents Harrah's Special Committee in Merger Agreement
Kaye Scholer represented the nine-person special committee of the board of directors of Harrah's Entertainment Inc., which was advised as to financial matters by UBS Securities, in reviewing the company's strategic alternatives including negotiating the merger agreement dated December 19, 2006, with private equity firms Texas Pacific Group and Apollo Management LP, pursuant to which Harrah's stockholders will receive $90 per share in cash. The purchase price reflects a total enterprise value of approximately $27.8 billion, inclusive of the assumption or refinance of $10.7 billion in debt, making the transaction one of the five largest private equity buyouts ever. The deal is targeted to close in approximately twelve months, subject to stockholder and regulatory approvals. Harrah's is the world's largest casino company by revenue, operating over 40 casinos in the U.S., including Caesars Palace, and more than 10 casinos overseas.

The Kaye Scholer M&A team was led by partners Barry L. Dastin, Russ A. Cashdan and William E. Wallace, Jr., the finance team was led by partners Emanuel S. Cherney and Sheryl Gittlitz, and the litigation team is being led by partners Jeffrey S. Gordon, Aton Arbisser and Phillip A. Geraci.

12-19-2006

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Jorden Burt LLP

Department of Labor Finds That NASD Registered Reps Not Entitled to Overtime Pay
In response to growing litigation and concerns from the financial services industry, on November 27, 2006, the United States Department of Labor issued Opinion Letter FLSA2006-43, which opines that registered representatives employed in the securities and financial services industries as account executives, broker-representatives, financial representatives, financial consultants, financial advisors, investment professionals, and stock brokers generally are exempt from the overtime provisions of the federal Fair Labor Standards Act.

Under 29 C.F.R. § 541.200(a), an employee is deemed employed in a "bona fide administrative capacity" and exempt from overtime compensation if the employee:

(1) Is compensated on a salary or fee basis at a rate of not less than $455 per week;

(2) Whose primary duty is the performance of office or non-manual work directly related to the management or general business operations of the employer or the employer's customers; and

(3) Whose primary duty includes the exercise of discretion and independent judgment with respect to matters of significance.

The DOL opined that these financial services functions generally satisfy the salary and "primary duty" criteria for the administrative exemption and therefore need not be paid overtime as part of their compensation.

12-19-2006

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Gibson, Dunn & Crutcher, LLP

Gibson Dunn Adds UK Corporate Finance and Capital Markets Partner in London
Gibson, Dunn & Crutcher LLP is pleased to announce that Selina Sagayam will join the firm’s London office as a partner. Sagayam, who is a UK corporate finance and capital markets partner in the London office of Simmons & Simmons, served as Secretary to the UK Takeover Panel in 2004 and 2005 before rejoining Simmons & Simmons in early 2006.

"We are delighted that Selina is joining our firm," said Ken Doran, Managing Partner of Gibson Dunn. "Selina's expertise and broad-based experience will complement our M&A, private equity and capital markets strength in London and Europe, and enhance our rapidly growing UK corporate practice."

"Selina’s addition is the latest development in the unprecedented growth of our London office,” said Andrew Thomas, Co-Partner in Charge of the London office. "We have grown our ranks in London by 50 percent in the last two years to 51 lawyers. Our focused lateral recruiting efforts have resulted in a string of exciting successes, including UK employment partner, James Cox from Ashurst, international capital markets partner, Dorothee Fischer-Appelt from Allen & Overy, UK finance partner, Tom Budd, former head of Jones Day’s UK finance practice, and UK and international arbitration/litigation partner, Philip Rocher from Clifford Chance.”

"Selina has an impressive background,” said London corporate partner Ken Lamb. "With her recent two-year secondment to the UK Takeover Panel and her extensive experience with UK public company acquisitions, she will be an exceptional resource for our clients and her new colleagues. Her expertise with London listings will also add additional depth to our vibrant London and international capital markets practices.”

Sagayam stated, "I spent considerable time meeting partners throughout the Gibson Dunn system and became increasingly impressed by the firm's culture, the vibrant and diverse transactional practice in London, and the firm's strategic commitment to continued growth in London and Europe. I look forward to working with my new partners.”

About Selina Sagayam

Selina Sagayam is a corporate finance and capital markets lawyer, whose expertise includes public and private company acquisitions, equity capital markets, corporate finance and corporate governance. She has deep expertise with the UK Takeover Code and public company acquisitions as she spent two years (2004-05) seconded to the UK Takeover Panel during which time she held the position of Secretary.

Sagayam has practiced in Simmons & Simmons’ London office since 1995. She received her law degree from King's College in 1992 and her Master of Law in 1995. She is a Barrister-at-Law (non-practising) and a Solicitor of the Supreme Court of England and Wales.

About Gibson Dunn’s Corporate Transactions Practice Group

Gibson Dunn is one of the leading law firms representing companies in complex M&A transactions, including mergers of public and private companies, stock and asset purchases, tender and exchange offers, restructurings and acquisitions out of bankruptcy, leveraged buyouts and private equity investments, strategic investments and joint ventures, and cross-border M&A transactions.

The firm has been involved in many high-profile acquisitions and divestitures representing both acquirers and targets, as well as investment banking firms and other financial advisors.

Gibson Dunn ranked among the Top Five legal advisers in European financial advisory M&A transactions during 2005, according to Mergermarket. The firm ranked 7th in 2005 and 6th in 2004 in US announced M&A transactions, based on number of deals, according to Bloomberg.

12-19-2006

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Dykema Gossett PLLC

Eight New Associates Join Dykema’s Michigan Offices
Dykema announces that Catherine A. Brainerd, DeLesha S. Garrett, Danielle M. Graceffa, Joel A. Harris, F. Arthur Jones II, Matthew Mitchell, Jason E. Sweeney and Christopher M. Wirth have recently joined the firm as associates in Michigan offices.

Ann Arbor Office:

F. Arthur Jones II is a labor and employment lawyer, counseling clients on employment practices and policies and representing employers in litigation and before government agencies. A resident of Ypsilanti, Mr. Jones received his B.A., cum laude, from Harvard University and his J.D. from Georgetown University Law Center.

Bloomfield Hills Office:

Joel A. Harris focuses on general litigation matters. While in law school, he served as a research assistant to Professor Antonio Gidi and as a member of the Dean’s Tutorial Society. A resident of Grosse Pointe Woods, Mr. Harris received his B.A. from Kalamazoo College and his J.D., magna cum laude, from University of Detroit Mercy.

Matthew Mitchell’s practice focuses on general litigation matters. While in law school, he was associate editor of the Michigan Journal of Race and Law. As an undergrad, he earned the Most Outstanding Student Award in Political Science, Economics and Honors College. A resident of Eastpointe, Mr. Mitchell received his B.S., magna cum laude, from Grand Valley State University. He also received a Phi Kappa Phi graduate fellowship to study law at the University of Michigan. Mr. Mitchell received his J.D. from the University of Michigan in 2006.

Detroit Office:

DeLesha S. Garrett focuses on general litigation matters. While in law school, she was Court Watch Editor of Buffalo Women’s Law Journal. She was also on the Jessup International Moot Court Board and the National Mock Trial Team. A resident of Harrison Township, Ms. Garrett received her B.S., summa cum laude, from South University and her J.D. from State University of New York at Buffalo.

Danielle M. Graceffa’s practice focuses on general real estate matters. While in law school, she was Assistant Editor (2004-2005) and Production Editor (2005-2006) of the Wayne Law Review. She was also Treasurer for the Women’s Law Caucus and a Dean’s Scholar. A resident of Belle River, Ontario, Canada, Ms. Graceffa received her B.A., summa cum laude, from University of Detroit Mercy and her J.D., magna cum laude, Order of the Coif, from Wayne State University.

Jason E. Sweeney’s practice focuses on general corporate and securities matters. While in law school, he was Associate Editor of the Michigan State Law Review and a Dean Charles H. King Scholar. A resident of East Lansing, he received his B.S. from Eastern Michigan University and his J.D., summa cum laude, from Michigan State University.

Grand Rapids Office:

Catherine A. Brainerd focuses on general real estate matters with an emphasis on real estate litigation. In law school she was an Anthony Maiullo Scholar and Editor-in-Chief of the Wayne Law Review. A resident of Grand Rapids, Ms. Brainerd received her B.S.B.A., summa cum laude, from Central Michigan University and her J.D., magna cum laude, from Wayne State University.

Christopher M. Wirth’s practice focuses on general corporate, commercial and business law matters. Prior to joining Dykema, he was a Federal Judicial extern in the Northern District of Ohio and an intern in the Ottawa County Prosecutor’s Office. A resident of Grand Rapids, Mr. Wirth received his B.A. from Hope College, his M.B.A. from Grand Valley State University, and his J.D., cum laude, Phi Delta Phi, from Case Western Reserve University.

12-19-2006

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Debevoise & Plimpton, LLP

The Carlyle Group in Its Definitive Agreements to Acquire Elkcorp And Atlas Roofing Corporation
Debevoise & Plimpton LLP is advising The Carlyle Group in its definitive agreement to acquire and take private ElkCorp in an all-cash transaction valued at approximately $1.0 billion, including the assumption of approximately $173 million of net debt. In a related transaction, Debevoise is also advising Carlyle in its agreement to acquire Atlas Roofing Corporation from Hood Companies, Inc. Following the closing of the Elk transaction, Carlyle expects to merge Elk and Atlas. However, completion of the Elk transaction is not contingent upon completion of the Hood/Atlas transaction.

ElkCorp, through its subsidiaries, manufactures Elk brand premium roofing and building products (90% of consolidated revenue) and provides technologically advanced products and services to other industries. The Carlyle Group is a global private equity firm with $46.9 billion under management. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.

The Debevoise team is led by partner Paul S. Bird and includes partners Peter A. Furci, Elizabeth Pagel Serebransky, Jeffrey J. Rosen and Gregory H. Woods III, counsel Marc A. Kushner and associates Yoeli Barag, Vivian M. Blanco, Lisa B. Gorrin, Karl Lee, Kyle A. Pasewark, David W. Wicklund and Harry Zirlin.

12-19-2006

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Blank Rome LLP.

Craig L. Hymowitz Appointed to Federalist Society’s Financial Services & E-Commerce Executive Committee
Blank Rome LLP is pleased to announce that Craig L. Hymowitz has been appointed to the Executive Committee of the Federalist Society’s Financial Services and E- Commerce Practice Group. Mr. Hymowitz was appointed to the committee based on his experience in anti-money laundering and economic sanctions compliance under the Bank Secrecy Act, USA PATRIOT Act, and OFAC.

The Federalist Society Financial Services and Electronic Commerce Practice Group Executive Committee works to spark a level of debate and discussion on important topics in today’s legal community. Through its programs, conferences and publications, the practice group contributes to the marketplace of ideas in a way that is collegial, measured, and open to all.

Mr. Hymowitz has been actively involved in the Federalist Society for a number of years and serves as treasurer of the Philadelphia chapter. He recently co-authored an editorial on judicial activism in conjunction with Bill of Rights Day for the Philadelphia Inquirer (www.philly.com/mld/inquirer/news/editorial/16243382.htm).

At Blank Rome, Mr. Hymowitz is an eighth year associate in Blank Rome’s white collar and commercial litigation groups specializing in anti-money laundering and economic sanctions compliance under the Bank Secrecy Act, USA PATRIOT Act, and OFAC; complex commercial litigation; internal and governmental investigations, and government contract disputes.

Mr. Hymowitz has been published on the editorial page of the Washington Post, Chicago Tribune, Los Angeles Daily Journal, San Diego Union-Tribune and Philadelphia Inquirer. In addition, Mr. Hymowitz has also provided commentary on numerous radio and television programs.

Admitted to practice in Pennsylvania and New Jersey, Mr. Hymowitz received his law degree from the University of Pennsylvania Law School and bachelor of arts, cum laude, from Cornell University.

12-19-2006

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