Law Firm News

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Law Firm News

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Davis Polk & Wardwell

Unitrin, Inc. Senior Notes Offering
Davis Polk & Wardwell advised Goldman, Sachs & Co. and Wachovia Capital Markets, LLC as joint book-running managers and representatives of the several underwriters on an SEC-registered debt shelf takedown by Unitrin, Inc. of $360 million aggregate principal amount of its 6.00% senior notes due May 15, 2017.

Based in Chicago, Illinois, Unitrin is a $3 billion financial services company providing a diverse array of property and casualty insurance, life and health insurance, and consumer finance products and services for individuals, families and small businesses. Unitrin conducts its operations through six operating segments: Kemper Auto and Home, Unitrin Specialty, Unitrin Direct, Unitrin Business Insurance, Life and Health Insurance and Consumer Finance.

The Davis Polk team included partner Richard A. Drucker and associate Kevin Williams. Danielle Y. Eswar was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.

05-22-2007

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Davis Polk & Wardwell

Davis Polk Advises Francisco Partners on Flash Memory Joint Venture with Intel and STMicro
Davis Polk & Wardwell is advising Francisco Partners on its agreement with STMicroelectronics and Intel to create a new independent semiconductor company that will focus on supplying flash memory solutions for a variety of consumer and industrial devices, including cellular phones, MP3 players, digital cameras, computers and other high-tech equipment.

Francisco Partners is a California-based global private equity firm focused exclusively on investments in technology and technology-enabled services businesses. STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live.

Under the terms of the agreement, STMicro will sell its flash memory assets to the new company while Intel will sell its NOR flash memory assets and resources. In exchange, Intel will receive a 45.1% equity ownership stake and a $432 million cash payment at close. STMicro will receive a 48.6% equity ownership stake and a $468 million cash payment at close. Francisco Partners will invest $150 million in cash for convertible preferred stock representing a 6.3% ownership interest. Concurrently, the parties have arranged for the new company to receive firm commitments for a $1.3 billion term loan and $250 million revolver. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the second half of 2007.

The Davis Polk corporate team includes partners Martin A. Wellington and William M. Kelly and associates Sam Kelso, Matthew E. King, John Crawford and Lee B. Shepard. Partner Steven S. Weiner and associate Vishnu Reddy are providing intellectual property advice. Partner Rachel D. Kleinberg and associate Suzan H. Sandikcioglu are providing tax advice. Counsel Cynthia Akard is providing employment advice. Partner Gail A. Flesher and associate Brianne M. Lucyk are providing environmental advice. Associates James C. O'Brien and Ilya Fradkin are providing real property advice. Partner Karin S. Day and associates Jason Kyrwood and Jonathan H. Pacheco led the credit negotiations on behalf of the new company. The members of the Davis Polk team work in the Menlo Park and New York offices.

05-22-2007

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Weil, Gotshal & Manges, LLP

Weil, Gotshal & Manges LLP Advises Texas Pacific Group and TPG-Axon Capital on Sale of Freenet Stake
The Frankfurt and Munich offices of the international law firm Weil, Gotshal & Manges LLP (together with Cleary Gottlieb Steen & Hamilton LLP) advised financial investor Texas Pacific Group on the sale of its stake of 12.45% in German telecommunications provider freenet AG to a subsidiary of the Berlin-based private investment firm Vatas. TPG-Axon Capital sold its 6.22% share in freenet AG to the same buyer. The parties agreed not to disclose the purchase price.

Weil, Gotshal & Manges LLP had already advised Texas Pacific Group and TPG-Axon Capital on the acquisition of the shares in former mobilcom AG from France Télécom in 2005. Mobile phone company mobilcom has since then merged with its affiliate freenet.de AG to form freenet AG.

The transaction team of Weil, Gotshal & Manges was led by partners Gerhard Schmidt and Stephan Grauke (both Corporate, Frankfurt) and was supported by partner Tobias Geerling (Tax, Munich) and associate Sven-Marko Schweneke (Corporate, Frankfurt).

05-22-2007

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Weil, Gotshal & Manges, LLP

Weil Gotshal Raises Money For Fight Against AIDS
Weil, Gotshal & Manges LLP participated in the 22nd Annual AIDS Walk New York which took place on May 20, 2007. The firm’s attorneys, staff, and summer associates were among the 45,000 walkers at this year’s event. The money raised by AIDS Walk New York supports the services provided by Gay Men’s Health Crisis and other AIDS Service Organizations. The firm raised over $20,000 for these worthwhile organizations.

05-22-2007

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Weil, Gotshal & Manges, LLP

Weil Gotshal Advises GE in $11.6 Billion Sale of GE Plastics
Weil, Gotshal & Manges LLP counseled GE in the company’s sale of GE Plastics to Saudi Basic Industries Corporation (SABIC), one of the world’s ten largest petrochemicals manufacturers. The deal is valued at $11.6 billion. GE Plastics is a multi-billion dollar global supplier of plastic resins widely used by a number of industries, including the automotive, healthcare and telecommunications industries. The transaction is expected to close in the third quarter of 2007.

The Weil Gotshal team working on this matter consisted of partners Howard Chatzinoff, Kenneth Heitner, Kimberly Blanchard, Jeffrey Osterman and Michael Kam, all of the firm's New York office; David Berz in Washington, DC; Kelly Dybala in Dallas; Will Rosen in London; James Leavy in Paris; and US and European associates Jon-Paul Bernard, Justin Levy, Dawn Kim, Nicholas Rodriguez, Su-Yeon Cho, Ron Ben-Menachem, Chayim Neubort, Jimmy Liao, Elva Tang, Larry Thompson, Matthew Morton and Edward Kim.

05-22-2007

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Paul, Weiss, Rifkind, Wharton & Garrison LLP

Paul, Weiss Files Civil Rights Suit on Behalf of Lesbian Couple
At a press conference on May 20 in front of the Brooklyn Supreme Court, litigation partner Robbie Kaplan announced the filing of a civil rights suit on behalf of a lesbian couple who live in Brooklyn with their daughter. Shortly after seeing the couple holding hands together in public, their landlord and members of his family began a campaign of unlawful discrimination that started with verbal harassment, escalated to intimidation and threats, and culminated in a series of violent acts against the family. The couple is bringing this action for damages under the New York State and New York City human rights laws and common law tort law. At the press conference, New York City Council Speaker Christine Quinn and Councilmembers Dan Garodnick, Diana Reyna and Rosie Mendez spoke in support of the lawsuit. The filing of this case was featured in an article in Sunday's Daily News and on last night's local newscasts on NBC, CBS, ABC, Fox and WWOR. Robbie told the Daily News that "discrimination against gay families happens all the time but that victims don't often come forward." The Paul, Weiss pro bono team includes litigation partner Robbie Kaplan and associates Thomas Abt, Andrew Ehrlich, David Friar, Sarah Kroll-Rosenbaum and Kimberly Ravener, and paralegal Jacob Wunsch.

05-22-2007

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Paul, Hastings, Janofsky & Walker LLP

Paul Hastings Attorneys Named Top Women Litigators by Daily Journal
Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, is pleased to announce that partners Nancy Abell, Elena Baca, Jamie Broder and Donna Melby have been named Top Women Litigators by the Daily Journal. The four selections to the annual list were the most for any law firm. It is the sixth consecutive year that Abell and Melby have been named to the list and it is the first year for Baca and Broder.

The 2007 list identifies the top women litigators in California who have achieved important wins in litigating significant cases and who have established themselves as leaders in their areas of practice and in the profession at large.

"Long considered to be among the best in their fields, it is a well-deserved tribute for these extraordinary attorneys to be listed among the top women litigators in California," said Seth Zachary, Chairman of Paul Hastings. "Their vision and success in handling class actions and bet-the-company litigation has been integral to the burgeoning strength of Paul Hastings' global litigation practice."

Ms. Abell, the chair of the firm's 200-lawyer Employment Law Department, has consistently been recognized among the best in her field of practice. In 2006, she was named one of the top 14 employment lawyers in the world by The International Who's Who of Business Lawyers. A fellow of the College of Labor and Employment Lawyers, her practice focuses on litigation of complex employment class actions and individual cases, appeals, proceedings before government agencies, labor negotiations and arbitrations, and employment advice to many of America's leading businesses and law firms.

Ms. Melby, the chair of the firm's Los Angeles Employment Law Department, is a nationally recognized business trial lawyer who has successfully litigated and tried complex and high-profile class actions and business, employment and mass tort cases in state and federal courts. She served as the 2005 National President of the American Board of Trial Advocates -- the first woman to attain this honor in the organization's 50-year history - and is a fellow of the American College of Trial Lawyers and the International Society of Barristers.

Ms. Baca, the chair of Paul Hastings' Los Angeles office, has successfully defended clients at trial and in NASD arbitrations against disability, retaliation, age, sexual harassment and wage and hour claims. She represents a wide variety of corporate clients in all aspects of employment law, employment and wage and hour litigation and management training. Her experience includes defending employers in complex civil and class action litigation.

With numerous trial successes, including several high-profile trial wins, Ms. Broder concentrates her practice on complex litigation, professional liability, securities litigation, health care litigation, intellectual property litigation and general business disputes. She has extensive experience in the federal, state and appellate courts, and has represented entertainment and media companies, financial services companies, investment management firms, real estate developers and health care companies.

About Paul Hastings' Litigation Department: The Paul Hastings Litigation Department provides premier litigation services to clients facing complex legal issues in the U.S., Europe, South America, the Middle East and Asia. With more than 300 lawyers in the Litigation Department, in addition to 200 litigators in the Employment Department, Paul Hastings is well positioned to handle all aspects of a client's litigation needs. Our sophisticated litigation practice covers every major practice including securities, intellectual property, class action and employment litigation, international arbitration, and white-collar crime. The Litigation Department has an impressive track record of winning large and difficult cases.

About Paul Hastings Employment Law Department: Paul Hastings has one of the largest and most accomplished employment practices in the United States and abroad. It was named "Global Labour and Employment Law Firm of the Year" in 2006 and 2007 by The International Who's Who of Business Lawyers. Chambers USA 2006 described the practice as "'the best of the best'" - "'the gold standard.'" In 2006, The American Lawyer noted that "no firm has scored as many class action wins as Paul, Hastings." Many of the Department's partners have been elected to membership in The College of Labor and Employment Lawyers and/or American College of Employee Benefits Counsel, and 31 are listed in The Best Lawyers in America. Through its employment law attorneys in key capital markets around the globe, Paul Hastings coordinates global employment and benefits strategies and solutions, as well as inbound and outbound immigration through its globally-acclaimed immigration practice group. The Department is frequently called upon by many of the world's leading law firms to represent them in their employment law litigation and advice matters.

05-22-2007

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