Law Firm News

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Law Firm News

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Wolf Block Schorr & Solis

Bob Byrd, Two Wood Byrd Colleagues To Join WolfBlock Public Strategies
Robert L. Byrd, a former member of the Delaware legislature and one of the state's foremost government affairs consultants, will join WolfBlock Public Strategies Delaware as President and CEO, effective January 1.

Byrd comes to WolfBlock from the Delaware government relations firm Wood Byrd Associates, where he was a principal for the last 18 years. Joining him in coming to WolfBlock from Wood Byrd Associates are lobbyists Cynthia L. DiPinto and Kimberly B. Gomes.

"These additions make perfect sense for WolfBlock," said firm chairman Mark L. Alderman. "Bob and his colleagues will allow us to expand our government relations practice in Delaware, and will complement and strengthen our thriving law practice in Wilmington. We're thrilled to have them come on board." Thomas P. McGonigle, managing partner of the firm's Wilmington office, added: "Bob and his team are considered the best in the business, so this is a major step forward in our effort to expand our presence in Delaware."

Prior to his time with Wood Byrd Associates, Byrd was Vice President and Chief Lobbyist for the Delaware Chamber of Commerce. Prior to his tenure with the Chamber, he served two terms in the Delaware House of Representatives, where he chaired the Labor and Commerce Committee and was majority whip. He attended Troy State University.

DiPinto and Gomes are University of Delaware alumnae. DiPinto joined Wood Byrd in 2004 after three years as a lobbyist for the New Castle County Chamber of Commerce and eight years working for Governor Ruth Ann Minner, first when Minner was Delaware's lieutenant governor and then upon her election as governor. Gomes has been with Wood Byrd for three years after securing her master's degree in public administration from the University of Delaware.

10-30-2006

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White & Case, LLP

White & Case Advises on $5.5 Billion Turkish Acquisition Double
White & Case is acting on two separate acquisitions in the strengthening Turkish banking market, advising Sabanci Holding and Akbank, Turkey's largest private bank, in the sale of a 20 percent equity stake to Citigroup for approximately $3.1 billion, as well as acting for Dexia, a key player in Belgian retail banking, in its acquisition of 75 percent of Turkish bank Denizbank, for a purchase price of $2.4 billion. The Dexia acquisition closed last week, and the bank now intends to launch a mandatory offer for the remaining 25 percent of shares held by the minority shareholders. The Akbank transaction, subject to regulatory approvals, is expected to close by the end of the year.

In recent years the Turkish banking sector has seen a huge increase in foreign direct investment (FDI), catalysed not only by the booming domestic economy, but also by an opening in the market created by the Turkish government's regulatory drive in the banking sector.

"In recent times we have seen an influx of billions of dollars of foreign investment into the Turkish banking sector. The government's main dilemma is now how to balance local demand for regulation of FDI against the need to maintain an open stance towards investment," commented Emre Derman, lead White & Case partner advising on both deals. "The question is what foreign banks will do next, now that the domestically-held equity stakes in Turkish banks available for sale are diminishing. International banks are likely to seek a stronger hold in the market through secondary purchases of equity stakes already held by other international financial institutions, which would in turn catalyse further consolidation."

White & Case has advised on a number of ground-breaking deals in Turkey. Last year the firm acted on three of the country's most significant financial transactions, which included, at that time, Turkey's largest ever securitisation, advising WestLB as global coordinator and initial purchaser in a $1.43 billion Regulation S/Rule 144A offering of guaranteed floating rate notes issued by Akbank via A.R.T.S. Ltd. In addition it has advised Cukurova Holding A.S. ("Cukurova"), a Turkish holding company, in its sale of a controlling stake in Yapi ve Kredi Bankasi A.S. ("YKB") to Koc Financial Services A.S. ("KFS") for $1.46 billion; and acted for Cukurova in a $3.3 billion financing deal with Alfa Group, one of Russia's largest privately owned financial and industrial conglomerates.

The White & Case team in Istanbul advising on the Akbank/Citigroup acquisition was led by partner Emre Derman, working closely with counsel Taylan Baykut, associates Deniz Igdirli, Sarp Senol and Ceyda Akbal.

On the Dexia/Denizbank acquisition, the White & Case team was led by partner Emre Derman, local partner Cem Davutoglu, and associates Mufit Arapoglu, Ceyda Akbal, Sarp Senol, Yalin Akmenek and Gupse Unlucetinkaya in Istanbul, associate Ahmet Dogan in Ankara, associates Axel Schulz and Maximilien Von Olenhusen in Brussels and associate Anna Maximenko in Moscow.

10-30-2006

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Vinson & Elkins L.L.P.

Vinson & Elkins Named "Best Place to Work" in Houston
For the second consecutive year, the Houston office of Vinson & Elkins LLP has been named one of the city's "Best Places to Work" among companies with 500 or more employees by the Houston Business Journal.

V&E was ranked No. 2 among 12 finalists in its category and was presented with the award at a luncheon honoring the winners on Oct. 12 at the Hyatt Regency Hotel in downtown Houston.

"We are very pleased to have again received this recognition," said Joe Dilg, Vinson & Elkins Managing Partner. "It is reflective of the pride that each of our lawyers and employees has in the firm and in each other."

This year, 105 companies completed surveys to participate in HBJ's six-year-old program. Overall, 45 companies in four separate categories were named "Best Places to Work" in Houston. HBJ evaluates companies using a rigorous statistics-based program based on confidential employee surveys.

10-30-2006

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Kenyon & Kenyon, LLP

Kenyon & Kenyon congratulates Muhammad Yunnus and the Grameen Bank for being awarded the 2006 Nobel Peace Priz
Muhammad Yunnus and the Grameen Bank will be awarded the Nobel Peace Prize at a ceremony in Oslo, Norway, on December 10, 2006. The Peace Prize is divided into two equal parts, to Muhammad Yunus and Grameen Bank for their efforts to create economic and social development from below.

The Nobel Committee noted in their statement that ""lasting peace can not be achieved unless large population groups find ways in which to break out of poverty. Micro-credit is one such means. Development from below also serves to advance democracy and human rights. Muhammad Yunus has shown himself to be a leader who has managed to translate visions into practical action for the benefit of millions of people, not only in Bangladesh, but also in many other countries. Loans to poor people without any financial security had appeared to be an impossible idea. From modest beginnings three decades ago, Yunus has, first and foremost through Grameen Bank, developed micro-credit into an ever more important instrument in the struggle against poverty. Grameen Bank has been a source of ideas and models for the many institutions in the field of micro-credit that have sprung up around the world.""

Grameen bank provides credit to the poorest of the poor in rural Bangladesh without any collateral. It currently has over 6 million borrowers in Bangladesh, 97 percent of whom are women. Borrowers from Grameen Bank own 94 percent of the equity of the bank. The remaining 6 percent is owned by the government. The bank's mission is to help the poor families help themselves to overcome poverty. Loans are offered to create self-employment for income-generating activities and housing. The total amount of loans disbursed since the bank's inception in 1976 is $5.72 billion.

Kenyon & Kenyon is honored to be Grameen Bank's pro bono provider of IP legal services.

10-30-2006

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Thelen, Reid, Brown, Raysman & Steiner, LLP

Thelen Reid & Priest LLP and Brown Raysman Millstein Felder & Steiner LLP to Merge
Thelen Reid & Priest LLP, a national leader in construction, energy, and project finance, and Brown Raysman Millstein Felder & Steiner LLP, a pioneer in technology law and a firm with one of the country's premier real estate finance practices, have agreed to merge, forming a firm with more than 615 lawyers. The name of the combined firm will be Thelen Reid Brown Raysman & Steiner LLP, and the merger will take effect December 1, 2006.

The merger will combine Thelen Reid's unparalleled reputation in such traditional areas as construction, energy, and litigation with Brown Raysman's nationally recognized practices in technology, outsourcing, intellectual property, e-commerce, media, and communications. The merger will also provide clients with access to a broad base of integrated services, including the combination of Thelen Reid's leading finance practices in the areas of energy, infrastructure, and project finance, together with Brown Raysman's real estate finance practice, which closed $25 billion in loans in the past several years for leading Wall Street financial institutions, money center banks, and hedge funds.

The combined firm will rank in the top 50 on the Am Law 100 and have a national footprint, with offices in major markets of the United States. The firm will have a total of eight offices-seven in the United States and a recently opened office in Shanghai-and a well-balanced national platform with 242 attorneys in California and 371 lawyers on the East Coast, including 255 in New York.

The management structure of the new firm will include an Office of the Chair. Stephen V. O'Neal and Julian S. Millstein will serve as Co-Chairs, and Thomas E. Hill will become Managing Partner of Operations.

"I can't imagine a better fit," said Thelen Reid Chairman Stephen V. O'Neal. "While Brown Raysman has an excellent reputation as a leading technology, intellectual property, media and communications firm, what is less known is that Brown Raysman also has one of the premier real estate finance practices in the country, which complements our strengths in myriad ways."

Brown Raysman's Julian S. Millstein, a founder of the firm, said joining with Thelen Reid will create a new firm that is well-positioned for further expansion. "This combination gives us the presence we have wanted on the West Coast and in Asia for our technology, media, and IP practices, and the platform we need to service and grow our real estate finance practice.

10-30-2006

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Thelen, Reid, Brown, Raysman & Steiner, LLP

Law Blog Wedding Announcement: Thelen Reid & Brown Raysman
Law firms Thelen Reid & Priest and Brown Raysman Millstein Felder & Steiner have announced they’re getting married. The name of the new firm will be Thelen Reid Brown Raysman & Steinerand the merger will take effect on December 1, 2006. Thelen Reid chair Stephen O’Neal and Brown Raysman founding partner Julian Millstein will serve as co-chairs.

Thelen Reid, 82 years old, is originally from San Francisco and has 391 lawyers. Its average profits per partner in 2005 were $850,000, according to the most recent American Lawyer survey. The firm has a prominent project finance practice and has a substantial presence in the construction, infrastructure, and energy industries.

Brown Raysman, 27 years old, is from New York. With 226 attorneys, the firm is known for its corporate and technology practices. Last year’s profits per partner at Brown Raysman were $720,000.

Thelen Reid’s first big New York merger occurred in 1998, when Thelen, Marrin, Johnson & Bridges combined with Reid & Priest.

10-30-2006

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