Law Firm News

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Kaye Scholer LLP

DZ Equity Partner GmbH Sells its Stake in syskoplan AG
DZ Equity Partner GmbH, a subsidiary of DZ BANK AG, located in Frankfurt am Main, Germany, has sold its 21.9% shareholding in syskoplan AG, an IT-service company listed in the General Market (Prime Standard) of the Frankfurt Stock Exchange. The purchaser was the Italian based IT-service company Reply SpA, located in Turin, which is listed in the techSTAR segment of the Italian Stock Exchange. In addition to the shares acquired from DZ Equity Partner GmbH, Reply SpA acquired the 25.1% and 6.1% shareholding of two members of syskoplan AG's Management Board. Reply SpA is now required to make a mandatory takeover offer to the other outstanding shareholders of syskoplan AG.

Matthias Götz along with Michael Mölling, both of the Frankfurt office, represented DZ Equity Partner GmbH in the transaction. Kaye Scholer has recently represented DZ Equity Partner GmbH in other divestitures.

01-30-2006

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Kaye Scholer LLP

Cohen Honored as Bankruptcy Lawyer of the Year
Marc Cohen, Chair of the Business Reorganization and Creditors' Rights Group in the Los Angeles office, will be honored by the Century City Bar Association as "Bankruptcy Lawyer of the Year" at the Association's 38th Annual Installation Dinner and Awards Ceremony on March 15. He is currently representing the Reorganized California Power Exchange in various venues, LAX in the Delta bankruptcy, and Phillip Morris Capital Corporation in the Calpine bankruptcy. Mr. Cohen has served as chair of the Executive Committee of the Commercial Law and Bankruptcy Section of the Los Angeles Bar Association. He has also served two terms as a member of the Insolvency Committee of the State Bar of California and is a Fellow in the American College of Bankruptcy.

01-30-2006

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Katten Muchin Rosenman LLP

Michael C. Rupe Joins Katten Muchin Rosenman’s Bankruptcy, Reorganization and Creditors’ Rights Practice as Partner
CHICAGO – Katten Muchin Rosenman LLP is pleased to announce the addition of Michael C. Rupe as a partner in its Bankruptcy, Reorganization and Creditors’ Rights Practice. Mr. Rupe, who will practice in the Firm’s Chicago office, was previously an associate with Katten Muchin Rosenman from 1999 through 2002.
“We are pleased to welcome Mike back to the Firm,” said John P. Sieger, chair of Katten Muchin Rosenman’s Bankruptcy, Reorganization and Creditors’ Rights Practice. “Mike has a reputation for handling matters in an efficient, economic and expedient manner, while keeping focused on efficient and expedient manner, while keeping focused on complex deal points. We look forward to working with him once again.”
Prior to rejoining the Firm, Mr. Rupe, 35, served as a partner with Jenner & Block LLP in Chicago. While there, he where he was a member of a team that was awarded M&A Advisor’s 2004 Deal of the Year Award and also the Chicago Turnaround Management Association’s 2004 Transaction of the Year Award.
Mr. Rupe concentrates his practice in corporate bankruptcies, workouts and restructurings. He has acted as lead counsel for secured lenders, syndicated loan agents and participants, venture capital concerns and their portfolio companies, and borrowers/debtors in all aspects of in-court and out-of-court workout, restructuring and reorganization matters, including DIP financing, exit financing and cash collateral matters. Mr. Rupe also represents sellers and buyers in connection with acquisitions and divestitures of distressed properties, with transactions occurring both in bankruptcy and outside of bankruptcy, including assignments for the benefit of creditors, receiverships and UCC sales. Additionally, he routinely acts as lead counsel for secured, unsecured and “undersecured” institutional lenders including General Electric Capital Corporation and LaSalle Bank National Association, in workouts and bankruptcies involving a various industries. Recent representative work in which Mr. Rupe has been involved, include the bankruptcy cases of Protocol Communications, Conseco, Archibald Candy (Fannie May), Jays Foods, United Air Lines, Clark Retail, Gingiss Formalwear, Fleming Companies, and Kmart.
Mr. Rupe received his Bachelor of Arts degree from The Ohio State University in 1992 and his juris doctor from the University of Cincinnati College of Law in 1997.
Katten Muchin Rosenman LLP (www.kattenlaw.com) is a national, full-service law firm with offices in the nation's largest centers of business, government, finance and technology and an associated entity in London. The Firm’s 600 attorneys in more than 40 practice areas provide timely and cost-effective counsel to clients in numerous industries. They serve as business advisors and advocates for a wide range of public and private companies - from entrepreneurial, emerging-growth, and middle market firms to global Fortune 100 corporations - as well as government entities, non-profits, and charitable and cultural organizations.

01-30-2006

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Jones, Skelton & Hochuli, P.L.C.

Leach Presents at URMIA Regional Conference
Steven D. Leach, a partner at Jones, Skelton & Hochuli, P.L.C, will be a presenter at the University Risk Management and Insurance Association's (URMIA) regional conference, "Risk Management Spring Training," to be held March 23-24, 2006 at the San Marcos Golf Resort & Conference Center in Chandler, Arizona.
This 1½ day regional conference, held in association with the Public Risk Management Association (PRIMA), will address critical issues in education risk management. Leach, who joined JS&H in 2005, concentrates his practice on general tort defense with an emphasis on public entity/school district defense, employment law, insurance bad faith, civil rights, product liability and aviation law.

01-30-2006

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Jenner & Block LLP

CPH Award Named “Top Jury Verdict” by Lawyers Weekly
Lawyers Weekly USA recently named as its top jury verdict of 2005 the $1.45 billion award to Jenner & Block client Coleman (Parent) Holdings in its fraud suit against securities firm giant Morgan Stanley.

In May of last year, the Florida jury unanimously awarded $604.33 million in compensatory damages and $850 million in punitive damages to CPH. The Court entered final judgment, including prejudgment interest, in the amount of $1.58 billion against Morgan Stanley for aiding and conspiring with Sunbeam Corp. to defraud CPH into selling CPH’s interest in The Coleman Co. Inc. to Sunbeam, a client of Morgan Stanley.

“The verdict sends a message to businesses like Morgan Stanley that dishonesty will not be tolerated in business transactions,” said Jenner & Block Chairman Jerold S. Solovy, who served as co-lead counsel for Coleman (Parent) Holdings in the case with Partner Ronald L. Marmer and Florida attorney John Scarola.

The lawsuit centered on a 1998 transaction in which CPH, a holding company controlled by Ronald O. Perelman, sold its 82% stake in Coleman to Sunbeam for $1.3 billion, including 14.1 million shares of Sunbeam stock that had an expected value in excess of $600 million. After the transaction closed, the Sunbeam fraud began to unravel and the value of the Sunbeam stock plummeted. The Jenner & Block legal team representing Coleman (Parent) Holdings in this case included: Partners Jerold S. Solovy, Ronald L. Marmer, Robert T. Markowski, Paul M. Smith, Robert L. Byman, Michael T. Brody, C. John Koch, Jeffrey T. Shaw, Timothy J. Chorvat, Deirdre E. Connell, Sam Hirsch, Suzanne J. Prysak, Jeremy M. Taylor and Margaret J. Simpson; Associates Denise Kirkowski Bowler, Christopher M. O’Connor, Joanne Hannaway Sweeney, Thalia L. Myrianthopoulos, Brian Hauck, Luke C. Platzer, Benjamin J. Keith, and Wade B. Gentz.

01-30-2006

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Jenner & Block LLP

Attorneys’ Article Tackles Corporate Concerns with National Security Letters
Corporations that have received a National Security Letter (NSL), a kind of subpoena authorized by the U.S. Patriot Act that’s intended to combat terrorism, should seek guidance from in-house and outside counsel to before submitting private company information to the government, according to an article in The Corporate Counselor authored by Partner Charles B. Sklarsky and Associate Monica R. Pinciak.

The FBI issues NSLs pursuant to Section 2709 of the U.S. Code to demand the production of telephone and electronic communications records from communication service providers “to protect against international terrorism or clandestine intelligence activities,” the authors stated. And, the Section prohibits an NSL recipient from ever disclosing that the FBI sought information pursuant to the NSL, the so-called “gag provision.”

Moreover, the law “does not expressly provide for judicial review, and indeed seems to preclude judicial review because the filing of such a challenge would disclose the receipt of an NSL,” the authors wrote.

Mr. Sklarsky and Ms. Pinciak noted that corporations are also subject to these special subpoenas because Section 2709 does not define the phrase “wire or electronic communication service providers” and the federal government has adopted a broad interpretation that includes private corporations’ communication systems.

“Applying the plain language of the statute, a private corporation that provides its employees with the means to send or receive electronic communications is an ‘electronic communication service provider’,” and case law applying that definition supports such a broad reading, the authors said.

Despite the gag provision, the federal government has publicly stated that it does not view the law as prohibiting consultations with counsel, according to the article. However, it does prohibit an NSL recipient from disclosing the substance of the request.

NSLs have been the subject of recent controversy and litigation, but such challenges are “rare” because the gag provision effectively shields the subpoena from judicial scrutiny, said Mr. Sklarsky and Ms. Pinciak in the article.

For instance, in September 2004, the U.S. District Court for the Southern District of New York ruled that the section violates the Fourth Amendment because it effectively bars judicial challenge to the propriety of an NSL request, and that the gag provision amounts to prior restraint in violation of the First Amendment.

Similarly, a district court in Connecticut held in August 2005 that the gag provision in that case violated the First Amendment, noting that “Section 2709 has the practical effect of silencing those who have the most intimate knowledge of the statute’s effect.” The U.S. Court of Appeals for the Second Circuit heard oral arguments in that case in November.

01-30-2006

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Howrey, LLP

D.C. Firm's View China With Caution
Legal Times

According to the Legal Times, several U.S. law firms are in the process of strategizing whether or not a presence in China is relevant to their practices. "'We are really thinking hard about China,' says Howrey partner Bert Reiser (DC). "But, I don't think it's the cornerstone of our future," he added.

01-30-2006

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