Law Firm News

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Law Firm News

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Wiley, Rein & Fielding, L.L.P.

California Appellate Court Reverses Fuller-Austin Decision
Washington, DC—A California appellate court has reversed the May 19, 2003 Fuller-Austin decision, significant ruling that will allow insurers to challenge a policyholder's asbestos bankruptcy reorganization plan on several grounds. Wiley Rein & Fielding insurance coverage expert, Laura A. Foggan, who represents the Complex Insurance Claims Litigation Association (CICLA) commented on the reversal in Business Insurance, telling the paper, "Considering that more than 60 major asbestos company defendants have filed for bankruptcy and that asbestos-related litigation has spread to more than half of U.S. industries, the reversal of the Fuller-Austin decision is 'a major, major deal.' The Fuller-Austin reversal, in addition to a handful of recent similar rulings in other cases, 'reinforces that insurers are going to have an opportunity to be heard' on asbestos coverage issues." Ms. Foggan added, "At its most basic level, this ruling confirms that a policyholder's bankruptcy does not expand or contract the terms of an insurance contract. The policyholder, bankrupt or not, is bound by the terms and conditions set forth in the plain language of the insurance contracts it purchased. This concept is fundamental to the insurance contract mechanism and was threatened by the trial court ruling."

01-26-2006

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Vorys, Sater, Seymour & Pease LLP

VORYS, SATER, SEYMOUR AND PEASE EXPANDS REAL ESTATE PRACTICE
CLEVELAND — Teresa M. Beasley, former Law Director for the City of Cleveland, has joined the Cleveland office of Vorys, Sater, Seymour and Pease LLP as Of Counsel in the firm’s Commercial and Real Estate group effective January 23, 2006. Ms. Beasley will focus her practice on real estate, government relations and general business law. Beasley brings to the firm significant understanding of public sector law, commercial and residential real estate transactions, along with the financing and development of projects.

“Teresa brings valuable insight with respect to a wide variety of development issues in the region,” said Anthony O’Malley, managing partner in the Vorys Cleveland office. “She also has built outstanding relationships based on her collaborative nature, and we are confident that she will quickly become a strong member of our growing commercial and real estate practice.”

Vorys’ Commercial and Real Estate group serves the needs of its corporate and public clients in a full range of finance, government relations and economic development matters, including real estate finance and development, zoning and land use, redevelopment and preservation, economic incentives and property acquisition.

As Law Director for the City of Cleveland, Ms. Beasley managed a legal team of 83 assistant directors of law and provided legal counsel to the Mayor, City Council and all other City officials, committees and boards. Among her accomplishments; she was responsible for the negotiation of approximately 50 real estate and development contracts, worth over $300 million, adding 1,460 new jobs and retaining approximately 1,000 jobs for the City of Cleveland. Prior to becoming law director in 2004, Ms. Beasley served as chief counsel and chief of the City’s real estate/development section.

“Vorys has an excellent reputation across an array of disciplines, and I was particularly attracted by the superb capabilities offered by their real estate group,” Ms. Beasley said. “I am delighted to have this opportunity to work with this exceptional team of attorneys and contribute to the continued growth of their real estate practice.”

Ms. Beasley began her law career as in-house counsel with The Lincoln Electric Company and subsequently served with a law firm as a senior associate concentrating on real estate.

She received her law degree from Cleveland Marshall College of Law in 1992. She is a member of the Cleveland Bar Association and the Real Estate Institute and has been a contributing author to the Cleveland Bar Journal.

Ms. Beasley is the immediate-past President of Commercial Real Estate Women (CREW), co-chair of the The Cleveland Foundation’s African American Outreach Advisory Committee and a member of Who’s Who is Black Cleveland and Leadership Bootcamp, a program for women in leadership. She is a graduate of the 2004 class of Cleveland Bridge Builders and a member of Kaleidoscope Magazine’s Class of 2005 - 40 under 40. Ms. Beasley and her husband, Art, have two children and reside in Cleveland.

The law firm of Vorys, Sater, Seymour and Pease LLP has Ohio offices in Akron, Cincinnati, Cleveland and Columbus, as well as in Alexandria, VA, and Washington, DC. With more than 360 lawyers, Vorys is one of the largest law firms in the United States.



01-26-2006

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Troutman Sanders LLP

ROBERT W. WEBB, JR., SUCCEEDS CARL E. SANDERS AS TROUTMAN SANDERS LLP CHAIRMAN
ATLANTA, GEORGIA (January 26, 2006) . . . Troutman Sanders LLP is pleased to announce that Robert W. Webb, Jr., the law firm's Managing Partner since 1993, has succeeded former Georgia Governor Carl E. Sanders as Chairman of the Atlanta-based international law firm.

Governor Sanders, who led the firm for four decades, has been named the firm's Chairman Emeritus.

"We owe an immeasurable debt of gratitude to Carl Sanders," Mr. Webb said. "His accomplishments in public affairs and in the private sector are unparalleled."

"Bob Webb's vision and energy as Managing Partner have well-earned for him the full role of CEO of the firm," Gov. Sanders said. "I want to acknowledge my appreciation to him, as well as my personal satisfaction in the growth and stature of the firm under his leadership."

"I am honored that my partners have designated me as Chairman Emeritus," Gov. Sanders added. "At this point in my life, I want to step back and work at a slower pace."

Troutman Sanders LLP traces its roots to a law firm founded in the Nineteenth Century in Atlanta. The firm's modern history dates from a firm established by Gov. Sanders and two colleagues in 1967 when he completed a four-year term as Georgia's Governor. In 1971, Gov. Sanders and his firm merged with a firm headed by the late Henry B. Troutman, Sr.

Today, Troutman Sanders has more that 600 attorneys serving clients from ten offices around the world — in Atlanta; New York City; Washington; London; Hong Kong; Richmond and three other locations in Virginia; and Raleigh, N.C.

Mr. Webb, a member of the Troutman Sanders Litigation Section, will serve as both Chairman and Managing Partner. He has led the firm's expansion into domestic and international locations outside of Georgia since becoming Managing Partner 14 years ago. He joined Troutman Sanders in 1975 after graduating from the University of Virginia law school. He received his B.A. degree in 1972 from Vanderbilt University.

Mr. Webb has been active in civic affairs in the Atlanta area. He is a member of the executive committee of the Board of Directors of the Atlanta Chamber of Commerce and Chairman of the Atlanta Chamber Board's Economic Development Committee. He also is a Board member at the Georgia Chamber of Commerce, Zoo Atlanta and the Georgia Partnership for Excellence in Education.

Troutman Sanders LLP, founded in 1897, is an Atlanta-based international law firm with more than 600 attorneys serving clients from offices in Atlanta, Hong Kong, London, New York, Norfolk, Raleigh, Richmond, Tysons Corner, Virginia Beach and Washington, D.C. The full-service firm offers a broad array of practice areas including corporate, finance, real estate, litigation and public law.

01-26-2006

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Thompson & Knight LLP

T&K Attorney Elected as Dallas Bar Foundation Chair
Dallas - Thompson & Knight is pleased to announce that Molly Steele has been elected Chair of the Dallas Bar Foundation. The Foundation was founded in 1873 to provide financial support for law related research, publications, and forums; law related scholarships and education; and charitable and legal aid for the impoverished. Another focus of the Foundation is the preservation of historic structures.

Ms. Steele is a partner in the Trial Department in the Firm's Dallas office. Her position is for a one-year term, commencing in January 2006.

01-26-2006

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Sheppard, Mullin, Richter & Hampton, LLP

36 Southern California Sheppard Mullin Attorneys Named "Super Lawyers 2006" by the Publishers of Los Angeles Magazine; Up From 27 Attorneys Recognized Last Year

01-26-2006

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Sheppard, Mullin, Richter & Hampton, LLP

36 Southern California Sheppard Mullin Attorneys Named "Super Lawyers 2006" by the Publishers of Los Angeles Magazine; Up From 27 Attorneys Recognized Last Year
Robert Darwell: Arts & Entertainment, Thomas Leo: Arts & Entertainment, Louis Meisinger: Arts & Entertainment, David Garcia: Antitrust Litigation, Carlton Varner: Antitrust Litigation, John Berchild: Banking, Robert Williams: Banking, William Burke: Bankruptcy, David McCarty: Bankruptcy, Joel Ohlgren: Bankruptcy, Prentice O'Leary: Bankruptcy , James Slaby: Business/Corporate, Joseph Coyne: Business Litigation, Brian Daucher: Business Litigation, Frank Falzetta: Business Litigation, Marty Katz: Business Litigation, Andrew Guilford: Business Litigation (Top 50 Super Lawyers in Orange County), Fred Puglisi: Business Litigation, Gary Bostwick: Civil Litigation Defense, Gregory Long: Civil Litigation Defense, Robert Philibosian: Environmental/Land Use, Randolph Godshall: Estate Planning/Trusts (Top 50 Super Lawyers in Orange County), Joseph Gorman: Estate Planning/Trusts, James Brueggemann: Intellectual Property, Gary Clark: Intellectual Property Litigation, Kent Raygor: Intellectual Property Litigation, Carlo Van den Bosch: Intellectual Property Litigation, Charles Barker: Labor and Employment, Richard Simmons: Labor and Employment, David Bosko: Mergers and Acquisitions, Larry Braun: Mergers and Acquisitions, John Hussey: Mergers and Acquisitions, Linda Michaelson: Mergers & Acquisitions, Brette Simon: Mergers and Acquisitions, John Simon: Real Estate Transactions, John Bonn: Tax.

01-26-2006

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Shearman & Sterling LLP

Boston Scientific Successful in $27bn Bid for Guidant
Peter D. Lyons, Clare O'Brien, Scott D. Petepiece, Maura E. O'Sullivan, Danielle Carbone, Don J. Lonczak, Doreen E. Lilienfeld

26 January 2006, New York - Shearman & Sterling LLP is representing Boston Scientific Corporation in its $27 billion acquisition of Guidant Corporation, in what The Wall Street Journal called "a triumph of merger gamesmanship." Guidant's board had previously signed a merger agreement with Johnson & Johnson before Boston Scientific made an unsolicited bid for the company in December 2005. The deal between Boston Scientific and Guidant was announced on January 25, 2006 by both companies, following Guidant's termination of its merger agreement with Johnson & Johnson.

Boston Scientific will acquire Guidant for $80 per share in cash and stock. According to The New York Times, the deal is the largest ever in the medical devices industry. The combined company will be a world leader in medical and cardiovascular devices, with expected 2006 revenue of nearly $9 billion.

Merrill Lynch & Co., Bear, Stearns & Co. Inc. and Banc of America Securities LLC are acting as financial advisors to Boston Scientific in this transaction.

Shearman & Sterling’s team included partners Peter Lyons (New York - M&A), Clare O'Brien (New York - M&A), Scott Petepiece (New York - M&A), Maura O'Sullivan (New York - Bank Finance), Danielle Carbone (New York - Capital Markets), Don Lonczak (New York - Tax) and Doreen Lilienfeld (New York - Executive Compensation & Employee Benefits).

Shearman & Sterling’s participation in the deal caps a particularly active period for the M&A Group. The firm recently advised Viacom Inc. on the $50 billion division of its businesses into separate publicly traded companies, CBS Corporation and "new" Viacom Inc., in the largest transaction of its type ever completed; Axel Springer's $3.058 billion acquisition of ProSiebenSat.1; Koch Industries' $21 billion acquisition of Georgia-Pacific; Hunan Valin's $338 million sale of 37% interest to Mittal Steel; France Telecom's $7.6 billion acquisition of 80% interest in Amena; mm02's $7.74 billion capital reorganization in the UK; and SunGard Data Systems' record-breaking $11.4 billion acquisition by a consortium of leading private equity firms.

The Boston Scientific deal is one of three hostile, multi-billion dollar transactions on which Shearman & Sterling is currently advising. The firm is also representing BASF Aktiengesellschaft in its proposal to acquire Engelhard Corporation for $4.9 billion, and has been involved in Arcelor’s $4.9 billion offer to acquire Canadian steelmaker Dofasco.

01-26-2006

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