Law Firm News

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Law Firm News

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Chadbourne & Parke LLP

Chadbourne Represented Panda Ethanol, Inc. in $188 Million Debt Financing
Chadbourne & Parke LLP represented Panda Ethanol, Inc. in a $188 million debt financing for a 100 million gallon per year ethanol plant to be located in the Texas panhandle.

The first-of-its-kind plant, located in Hereford, will generate the steam used to manufacture ethanol by gasifying cattle manure. Once operational in 2007, the plant's ethanol output will replace the equivalent of 2.4 million barrels of imported gasoline per year.

The project, located on a 380 acre site, is also the largest ethanol facility in Texas, and will be the largest biomass-fueled ethanol plant in the United States.

The deal closed in two parts -- the bank loan and subordinated debt portion of the financing on July 28 and a municipal bond portion on July 31. Panda Energy International is the largest shareholder in Panda Ethanol, Inc.

Leading a team of Chadbourne lawyers on the financing was Washington DC office project finance partner Neil Golden. Also working on the deal were New York corporate partner Charles Hord and DC tax partner Keith Martin. DC associates Jim Scarrow, Micaela Garcia-Ribeyro and Kimberley Arigbede also worked on the deal. New York partner Todd Alexander and Houston associate Jonathan Phillips assisted Panda with certain project documents.

Societe Generale Corporate & Investment Banking arranged the senior debt financing, consisting of a $158.1 million senior secured credit facility, which included a $5 million working capital facility and a letter of credit supporting $50 million in tax exempt bonds issued by the Red River Authority of Texas. The project also has another $30 million subordinated debt credit facility.

Chadbourne is working on deals with two billion gallons of ethanol production in the works. The Firm has a 40% share of the legal market for complex ethanol financing deals, and earlier this year, it closed a deal for a bank syndicate that marked the biggest ethanol financing deal in U.S. history at $423 million. West LB was lead arranger and agent for a syndicate of 17 senior lenders for the financing for three ethanol plants.

08-01-2006

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Bracewell & Patterson, L.L.P.

National Labor Relations Board Decision Finds Broad Mandatory Arbitration Policy Unlawful
The National Labor Relations Board (NLRB) recently ruled that an employer's publication of a broad mandatory arbitration policy is a violation of the National Labor Relations Act (NLRA) unless it expressly excludes charges with the NLRB. The Board found that the mere publication of such a policy is unlawful because of its potential chilling effect on employees' filing work-related complaints directly with the NLRB, even absent evidence of the employer's having enforced the policy in this manner or evidence of any employee's having interpreted the policy in this manner.

“This is an important development for employers in considering whether to adopt or maintain alternative dispute resolution policies in employment contracts, handbooks and policies, and what changes are necessary in existing agreements” said Bracewell & Giuliani LLP Labor & Employment partner Nancy Morrison O’Connor.

Bracewell has one of the largest labor and employment practices in the country with 60 attorneys representing public and private employers in diverse industries to address and resolve workplace issues as well as traditional labor and management disputes.

In this recent NLRB case, U-Haul Company of California (UCC) employees, as a condition of their employment, were required to sign a mandatory arbitration agreement for all disputes, including causes of action recognized by “federal law or regulations.” Two of the three Board members on the panel found that the policy violates the Act because it would ""reasonably tend to inhibit employees"" from filing unfair labor practice charges directly with the NLRB, specifically charges alleging violation of employee rights under Section 7 of the NLRA.

Although the Board Majority found that the publication of the mandatory arbitration policy was unlawful, it also found that statements in the UCC employee handbook that called for work-related complaints to be brought initially to a supervisor and then to the company President did not violate the Act.

Recognizing that the challenged policy does not explicitly restrict employees from filing charges, the NLRB nevertheless found that the language of the policy alone--even without any evidence of its having been enforced or interpreted in this manner-- was enough to lead employees unlawfully to the belief that they must resort to the policy's arbitration procedures instead of filing charges with the NLRB.

Additionally, the Board specifically targeted the phrase “any other legal or equitable claims and causes of action recognized by local, state, or federal law or regulations” as reasonably including the filing of charges with the NLRB, leading employees to believe that they are precluded from filing such charges, in violation of the NLRA.

In a sweeping order, the Board invalidated the entire UCC policy and required written notice to each former and current employee who had signed the arbitration agreement that it would not be used for any purpose, purportedly not limiting the effect of the decision to the NLRA.

“This decision flies in the face of the universal support for the adoption of alternate dispute resolution procedures, including arbitration agreements. These agreements and policies are used by employers nationwide in both individual contracts of employment and company-wide policies in an effort to address employee complaints swiftly and economically. For decades, mandatory arbitration agreements have been included in virtually every collective bargaining agreement between employers and unions without any express mention of Section 7,” continued O’Connor. “Employers must now determine if their existing arbitration agreements, including their collective bargaining agreements, are in compliance with this new decision and, if they decide to continue to use arbitration clauses at all, whether they comply with the new requirements.

08-01-2006

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Bracewell & Patterson, L.L.P.

Bracewell & Giuliani Attorney Speaks on Environmental Law Transactions at 18th Annual Texas Environmental Superconference
Tim Wilkins, head of the Environmental and Natural Resources practice at Bracewell & Giuliani LLP, will moderate and serve as a speaker at a special session on the fundamentals of practicing environmental law at the 18th Annual Texas Environmental Superconference. Hosted by the Environmental & Natural Resources Law Section of the State Bar of Texas, the conference will be held August 3-4, 2006 at the Four Seasons Hotel in Austin, TX.

The session, Environmental Law 102, will take place the night preceding the conference and will serve as a refresher and background on environmental law basics, including siting and permitting, enforcement and transactions. In addition to moderating, Wilkins will speak on the importance of environmental considerations in transactions, using commonplace scenarios to illustrate how current environmental laws often cause unforeseen complications, especially for investors that are less experienced with industrial operations.

“The recent increases in energy prices has led to an increasing number of investors interested in purchasing power plants and oil and gas assets in and around Texas,” said Wilkins. “These investors can buy heavily regulated facilities – even facilities that are currently in compliance with state and federal standards - only to have environmental standards become stricter a few months or years down the road. This can force the investors to add costly pollution controls, buy expensive emissions allowances, or reduce operations in order to comply.” At the conference, Wilkins will discuss how lawyers should handle the acquisition and divestiture process in order to help investors understand current and future risks and opportunities arising from the environmental laws.

Wilkins has significant experience with administrative, civil, and criminal environmental enforcement actions, as well as the resolution of regulatory and liability issues associated with contaminated properties. In addition, he is an expert in counseling on the environmental aspects of transactions and project siting and development and he has advised on the environmental aspects of numerous acquisitions, divestitures and financing transactions with leading companies in the energy, refining, electric power, chemicals, telecommunications, real estate, waste handling and municipal sectors.

08-01-2006

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Weber, Gallagher, Simpson, Stapleton, Fires & Newby, LLP

Richard K. Tavani Prevails In Workers' Compensation Trial
Richard K. Tavani, partner in the Cherry Hill office of Weber Gallagher Simpson Stapleton Fires & Newby LLP, recently prevailed in a trial before Judge Cosmo A. Giovinazzi, Supervising Judge of Compensation in Atlantic City, on behalf of Mr. Tavani’s client, the Injured Workers Insurance Fund (IWIF) of the State of Maryland, which insured DiFabrizio Trucking.

In Hector Arroyo v. DiFabrizio Trucking, the petitioner was injured in the course and scope of his employment while working for DiFabrizo Trucking in New Jersey. At that time, DiFabrizio Trucking, which had started the business in Maryland, was engaged in trucking operations only in New Jersey . Arroyo was hired by DiFabrizio in New Jersey. DiFabrizio had obtained a workers compensation insurance policy from the IWIF in Maryland. The policy did not cover those employees of DiFabrizo who were based in New Jersey. Mr. Tavani’s client disclaimed coverage since it maintained that it did not provide DiFabrizio with coverage in New Jersey, although its policy provided that it would pay the defense costs for an insured even where there was no coverage for the claim under the policy.

Six witnesses, including the general legal counsel for Mr. Tavani’s client, testified. It was held that IWIF had no obligation to pay workers’ compensation benefits to the petitioner since there was no coverage for the claim. The Judge also decided that the petitioner was an employee of 84 Lumber, for which DiFabrizio did all their work.

08-01-2006

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Tyler Cooper & Alcorn, LLP

Tyler Cooper Attorneys Named to Website List of Best Professionals in U.S.
The Tyler Cooper attorneys are cited on www.bestofus.com for their accomplishments in legal practice areas that range from arbitration to trusts and estates. The website is operated by The Best of the U. S. LLC, an independent firm that reviews the credentials of practitioners across the United States in fourteen professions, including the law, health care and finance. In addition to attorneys, the professionals listed include doctors, chiropractors, financial advisors and real estate agents.

The professionals on the list are described as ""best in class"" for having continued their education, provided leadership in their industries, and offered excellent service in their fields. According to the site, the selection process involved peer groups, industry organizations and media polls.

The Tyler Cooper attorneys listed on the site and the areas for which they have been recognized include:

Greg R. Barringer (New Haven), Real Estate Law, Tax Law, and Trusts and Estates
William H. Champlin (Hartford), Arbitration
William S. Fish Jr. (Hartford), Commercial Litigation
James R. Greenfield (New Haven), Family Law
Thomas S. Marrion (Hartford), Health Care Law
Margaret P. Mason (New Haven), Malpractice Law, Personal Injury Law
George E. O'Brien Jr. (New Haven), Employment Law
Irving S. Schloss (Madison), Corporate Law, Tax Law, and Trusts and Estates

08-01-2006

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Stradley Ronon Stevens & Young, LLP

Stradley Ronon Adds Investment Management Associate
Emilia P. Wang has joined the investment management group at Stradley Ronon Stevens & Young, LLP.

Based in the firm’s Philadelphia office, Ms. Wang focuses her practice on advising investment companies, investment advisers and broker-dealers on regulatory and compliance issues. She also counsels clients on issues arising under the Investment Company Act of 1940, as well as other federal securities laws and regulations.

Prior to joining Stradley Ronon, Ms. Wang served as a law clerk for the Hon. Bruce W. Kauffman for the U.S. District Court for the Eastern District of Pennsylvania. She also was an investment management associate at Drinker Biddle & Reath LLP and a law clerk for Chief Justice Deborah T. Poritz of the New Jersey Supreme Court. Ms. Wang earned her law degree, with high honors, from Rutgers School of Law – Camden and her undergraduate degree from Brown University. She also holds a master’s degree in social work from New York University.

08-01-2006

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Stradley Ronon Stevens & Young, LLP

Stradley Ronon Partner Moderates Program at Independent Counsel Roundtable
Stradley Ronon partner and Investment Management Group Chair Bruce G. Leto recently moderated a program at the Investment Company Institute’s 2006 Independent Counsel Roundtable in Washington, D.C. The program, “Review of Advisory Contracts and Distribution Financing Arrangements,” covered guiding the review process, drafting disclosure and minutes and investment advisory contract renewal issues relating to multimanager funds and subadvisory arrangements.

As chair of Stradley Ronon’s nationally ranked investment management group, Leto counsels investment companies, investment advisers, independent trustees and broker-dealers on securities and corporate matters relating to pooled investment products, including registered and unregistered, open- and closed-end investment companies.

08-01-2006

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