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Ross, Dixon & Bell, LLP

Victory in Congoleum Case Signals Beginning of the End for Collusive Prepackaged Asbestos Bankruptcies and Inventory Settlements
Judge Nicholas J. Stroumtsos, Jr. of the Superior Court of New Jersey today ruled in Congoleum Corporation vs. Ace American Insurance Co., et. al. that a claimant agreement which purported to resolve all pending claims against Congoleum prior to its bankruptcy filing was “unreasonable,” “collu[sive],” and “not in good faith.” He absolved Congoleum’s insurers for any coverage liability for the purported $500 million in liability asserted against them under the agreement.

Congoleum Corporation, a longtime manufacturer of flooring products, had been generally successful in litigating asbestos claims in the tort system, prior to entering into the agreement that was the subject of litigation.

Today’s decision should have a powerful impact on asbestos prepackaged bankruptcies going forward, and will serve as a strong warning that the rights of insurers cannot be trampled upon in the process.

Jack Gerstein, a partner with Ross, Dixon & Bell, served as lead counsel for the joint defense group that collectively represented more than a dozen insurance companies who were attacking the deal that led Congoleum to file a prepacked bankruptcy. “This ruling vindicates important rights of insurers and will ultimately have important ramifications in the asbestos arena and the insurance industry more generally,” said Mr. Gerstein.Gerstein added, “Courts need to scrutinize more carefully what transpires in the asbestos litigation world, and Judge Stroumtsos’s opinion shows why.”

Background on “Pre-Packs”
Orchestrated by plaintiff’s lawyers and sold to companies as an ‘easy out’ for their asbestos liability, the “prepack” requires companies to dip into Chapter 11 bankruptcy briefly and painlessly, emerging with no asbestos liability, in exchange for an upfront fee – usually between $2 and $30 million dollars – to the plaintiff’s lawyers, and the promise of “easy money” for claimants and their counsel – leading to tens of millions, if not 100s of millions, of dollars in additional fees for a small group of asbestos plaintiff’s lawyers. The company’s insurers are then left to foot the bills, stretching sometimes into the billions of dollars.

Mr. Gerstein was quoted in the Wall Street Journal article “Insurers Win Asbestos Ruling” on May 21 and in the Dow Jones article “Judge: Insurers Don’t Have to Pay $500M In Congoleum Case” on May 18.

05-18-2007

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Roetzel & Andress A Legal Professional Association

Roetzel & Andress' Terrence Link Named A "30 For The Future" Award Recipient
Terrence H. Link II, an attorney with Roetzel & Andress L.P.A., has been chosen as a recipient of the “30 For The Future” Award by the Greater Akron Chamber. Mr. Link, along with 29 other young professionals selected for the award, will be honored at a dinner celebration and ceremony in June.

Developed as part of the Great Akron Chamber’s approach to attracting and retaining talent in the region, “30 For The Future” honors young professionals between the ages of 25 and 39 whose contributions have impacted their field and this region. Recipients were selected based on their professional and community accomplishments, along with their leadership and team-building skills.

Mr. Link focuses his practice on mergers and acquisitions and trademark and franchise law, counseling clients ranging from owners of closely-held small businesses to corporate executives and general counsel of large corporations.

In addition to his legal practice, Mr. Link is a Director of the East Akron Neighborhood Development Corporation, President and a Director of Torchbearers Young Professional Association and a Past Advisory Panel Member of the Athena PowerLink Program. He also volunteers at the PGA Bridgestone Invitational.

05-18-2007

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Zuckerman Spaeder LLP

Jill Dash Elected Treasurer-Elect for the Women's Bar Association of DC
Jill Dash has been elected Treasurer-Elect of the Women's Bar Association of the District of Columbia for 2007-2008 and Treasurer for 2008-2009. She recently completed a term as Secretary for this past year. The Women's Bar Association, founded in 1917, is a voluntary bar organization with national recognition, currently with over 1,200 members.`

05-18-2007

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Nutter McClennen & Fish LLP

Yalonda Howze featured with members of the Association for Civil Rights
Yalonda Howze appeared in the Out of the Office segment of the Boston Business Journal on May 18. She is a member of the newly formed Association for Civil Rights, an organization that will raise awareness of social issues. Yalonda was photographed at a kick-off meeting for the group, which is an affiliate of the Lawyers' Committee for Civil Rights, but run by associates.

05-18-2007

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Nutter McClennen & Fish LLP

Allison Burroughs teaches at the Judicial Institute's program on Cyber Issues for Judges
Allison Burroughs, partner in the firm's Government Investigations and White Collar Defense practice, participated as a panelist during a May 18 Judicial Institute program on Cyber Issues for Judges. Her panel topic covered seizing and searching computers. The Judicial Institute is the training center for the Commonwealth's Administrative Office of the Trial Court.

05-18-2007

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Norris, Mclaughlin & Marcus, P.A.

Jeralyn L. Lawrence to Receive NJSBA Professional Achievement Award
The law firm of Norris McLaughlin & Marcus, P.A. is pleased to announce that Jeralyn L. Lawrence, a member of the firm, has been selected to receive the Professional Achievement Award of the New Jersey State Bar Association (NJSBA) Young Lawyers Division. Lawrence was presented with this award at the NJSBA’s Annual Meeting on May 16, 2007 during the Official Opening of Exhibit Hall. This award acknowledges young lawyers who have received professional recognition through publications, excellence in a particular area of law, a significant verdict or law-changing appellate decision, or other such professional achievement.

"Each year the Young Lawyers Division recognizes young lawyers throughout the State who exemplify the attributes of outstanding young attorneys. Jeralyn Lawrence demonstrates these attributes because she is well-rounded in her dedication to her practice and to the bar. Ms. Lawrence is a role model for all young lawyers," said Kimberly Yonta Aronow, Awards Committee Chairperson for the NJSBA Young Lawyers Division.

A resident of Watchung, Lawrence devotes her practice to the litigation and mediation of matrimonial and family law matters, including custody, parenting time, divorce and adoption.

Certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney and a Family/Divorce Mediator, Jeralyn has worked with clients whose needs lie in all areas of matrimonial and family law, including divorce litigation and mediation, custody and parenting time issues, alimony and child support, separation and property settlement agreements, adoption and guardianship advice, domestic partnership matters under the Domestic Partnership Act, domestic violence and sexual abuse, and palimony.

Lawrence has been qualified for certification as a Matrimonial Law Attorney by the Supreme Court of New Jersey, Board on Attorney Certification, and is a Family/Divorce Mediator. She is a member of the Executive Committee of the Family Law Section of the New Jersey State Bar Association and Chair of the New Jersey Matrimonial Young Lawyers Committee of the Association of Trial Lawyers of America. She is also a member of the Somerset County (Chair, Family Law Committee) and Essex County Bar Associations, the New Jersey Supreme Court Office of Attorney Ethics, District XIII Attorney Ethics Committee, and an attorney volunteer at the Somerset County Resource Center for Women and Their Families.

Lawrence was selected by her peers as one of New Jersey’s Top 10 matrimonial lawyers under the age of 40. In February, she was presented with the NJSBA Annual Legislative Recognition Award. She has also been recognized by the New Jersey Law Journal as one of 40 accomplished and promising attorneys in the State of New Jersey under the age of 40 and was named among New Jersey Super Lawyers for 2007 and New Jersey Super Lawyers-Rising Stars for 2006.

Lawrence received her J.D. from Seton Hall Law School, summa cum laude.

05-18-2007

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Milbank, Tweed, Hadley & McCloy LLP

Milbank Partner Allan Marks to Address the Institute of the Americas on the Impact of Energy Alternatives and Climate Change in Latin America
Allan T. Marks, partner in the global project finance department at the international law firm Milbank, Tweed, Hadley & McCloy LLP, will speak at the Institute of the Americas 16th annual “LATIN AMERICAN ENERGY CONFERENCE,” to be held May 20 – 22, 2007 in La Jolla, California. Mr. Marks’ presentation will focus on global and regional perspectives on energy alternatives and climate change.

The Institute’s prestigious annual meeting will focus on cutting edge issues facing the Latin American energy sector and how the region is being impacted by climate change, nationalism and the geopolitics of oil, regional integration of gas and electricity networks, development of alternative energy sources and the modernization of the Latin American energy sector.

Based in Milbank’s Los Angeles office, Mr. Marks is an expert on the legal, commercial and political issues affecting cross-border investments and energy markets. His practice encompasses a broad range of sectors, including power, oil and gas, transportation, and technology. He regularly represents developers, investors, lenders and underwriters in the development and financing of complex infrastructure projects worldwide, with special expertise in energy, transportation and telecommunications. Mr. Marks works on transactions around the globe, with a particular emphasis on the United States and Latin America.

The Institute of the Americas’ two-day conference will feature presentations by leading energy industry executives from some of the most influential energy companies operating in Latin American (including Alstom, Chevron, Citgo, AES, BP, Endesa, ExxonMobil, Iberdrola, Sempra Energy, Solar Turbines and TOTAL) and senior government ministers and officials from Mexico, Brazil, Chile, Guatemala, Colombia and elsewhere. Individual and panel discussions will cover a full range of issues, such as “The Geopolitics of Oil: NOC & IOC’s”; “Carbon Markets in a Changing World”; as well as overviews of country and regional (Venezuela, Guatemala, the Southern Cone), and energy sector-specific markets.

05-18-2007

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