Law Firm News

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Law Firm News

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White & Case, LLP

$4 Billion Financing for Largest World-Class Refining and Chemicals Complex in China
White & Case LLP represented Saudi Arabian Oil Company (Saudi Aramco) and Saudi Aramco Sino Company Limited (SASCO), a subsidiary of Aramco Overseas Company B.V. (AOC), in connection with the approximately RMB 30 billion ($4 billion) funding to Fujian Refining Petrochemical Company Limited, a joint venture company owned by Fujian Petrochemical Company Limited (FPCL) (50 percent), Saudi Aramco Sino Company Limited (25 percent) and ExxonMobil China Petroleum and Petrochemical Company Limited (25 percent).

The financing, provided by a group of 11 Chinese banks and Sinopec's finance arm, will be used to expand the existing refinery in Quanzhou, Fujian Province, China from 80,000 barrels-per-day (four million tons-per-year) to 240,000 barrels-per-day (12 million tons-per-year), with significant product upgrading capability. The upgraded refinery will refine and process sour Arabian crude oil. In addition, the project involves construction of a new 800,000 tons-per-year ethylene steam cracker, an 800,000 tons-per-year polyethylene unit, a 400,000 tons-per-year polypropylene unit and a new 700,000 ton-per-year paraxylene unit. The project will be the largest world-class integrated refining and chemicals complex in China and represents the largest ever project financing for a Sino-foreign joint venture in China.

"The Fujian Refining and Ethylene Joint Venture Project will serve to meet China's rapidly growing demand for petroleum products and petrochemicals, and the current project financing also marks the support shown by sophisticated and significant Chinese financial institutions for the energy market in China," says Hallam Chow, the partner who led the White & Case team advising Saudi Aramco.

White & Case also represented Saudi Aramco and SASCO in connection with the related Fujian Fuels Marketing Joint Venture Project, which is owned by Sinopec (55 percent), Saudi Aramco Sino Company Limited (22.5 percent) and ExxonMobil China Petroleum and Petrochemical Company Limited (22.5 percent). The Marketing Joint Venture will manage and operate approximately 750 service stations and a network of terminals in Fujian province. The RMB 1.8 billion Term Loan and RMB 500 million Working Capital Loan financing for the Marketing Joint Venture Project was signed on September 5, 2007, with China Construction Bank and Industrial and Commercial Bank of China Limited.

09-10-2007

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Schiff Hardin LLP

Schiff Hardin LLP Welcomes 15 New Associates
Schiff Hardin LLP has added 13 recent law school graduates or recent judicial clerks as new associates in the firm’s Chicago office and two recent law school graduates as associates in the firm’s San Francisco office. Their names, law schools, law degrees, and class years are:

09-10-2007

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Schiff Hardin LLP

Schiff Hardin LLP Welcomes Amanda L. Schermer as an Associate in the Construction Group of the Chicago Office
Amanda L. Schermer has joined Schiff Hardin LLP as an associate in the Construction Group from Porter Wright Morris & Arthur, LLP (Columbus, Ohio) where she was a litigation associate.

Ms. Schermer concentrates her practice in construction matters. She has represented clients in federal and state courts regarding various civil litigation matters, including patent infringement, construction disputes, Federal Employers' Liability Act claims, product liability, professional liability, tort defense and general commercial litigation.

Prior to joining Schiff Hardin, Ms. Schermer was an associate at a Columbus, Ohio law firm.

Ms. Schermer graduated from the University of Illinois at Urbana-Champaign (B.A., B.S., Psychology, 2000) and the University of Illinois College of Law (J.D., cum laude, 2005).

09-10-2007

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Schiff Hardin LLP

Nineteen Schiff Hardin LLP Attorneys Have Academic Appointments for the 2007/2008 School Year
Schiff Hardin LLP's commitment to advancing the profession through education continues to make an impact on undergraduate and law school students across the nation. As the fall semester commences, eighteen Schiff Hardin attorneys will be in classrooms, as well as in courtrooms, board rooms, and conference rooms, from coast-to-coast and even in China.

Several of the firm's attorneys, such as Barry S. Alberts, Mark C. Friedlander, William M. Hannay, Allan Horwich, Richard J. Hoskins, Charlene Q. Kalebic, Kim A. Kamin, Roger Pascal, Bruce A. Wagman, Jeffrey R. Williams, and John S. Worden, have held adjunct professor or lecturer positions for several years. Two partners — Allan Horwich and Richard J. Hoskins — have received awards for their teaching efforts at the Northwestern University School of Law.

Another partner, Jonathan Friedland, who rejoined Schiff Hardin earlier this year, recently accepted a position as Adjunct Professor of Strategic Management at The University of Chicago Graduate School of Business, where he will be co-teaching the class "Grave to Cradle: The Basics of Restructuring and Bankruptcies," with James H.M. Sprayregen, a Managing Director at Goldman Sachs.

In addition to teaching at business schools, Schiff Hardin attorneys also lead courses in other academic disciplines — for instance, Mark C. Friedlander teaches at the University of Illinois at Chicago School of Architecture.

Some Schiff Hardin attorneys divide their time between several academic institutions, for example, Schiff Hardin partner Bruce A. Wagman teaches at four different law schools in the San Francisco area.

Additionally, Gearold L. Knowles, a partner who has been a guest lecturer at Tsinghua University School of Law and a visiting professor at the Beijing Foreign Studies University School of Law, will be returning to Beijing Foreign Studies University as a visiting professor and has an invitation to present a seminar on energy law at another university law school in Beijing.

Meanwhile, Schiff Hardin partner Janet M. Johnson, serves as a mentors for the first class of Roosevelt University's Goldie B. Wolfe Miller Women Leaders in Real Estate program students.

Schiff Hardin Attorneys (Their Offices) and the Schools Where They Teach

09-10-2007

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Ross, Dixon & Bell, LLP

Merril Hirsh Honored at Financial Planning Association’s National Conference
RDB attorney Merril Hirsh received recognition at this year’s Financial Planning Association National Conference for his representation of the FPA in its successful litigation against the Securities and Exchange Commission.

Mr. Hirsh’s recognition was mentioned in “FPA President, CEO ‘Explore Possibilities’ Through Talk Show Format,” an article appearing in the Conference’s publication, Daily Pulse. The article stated that Mr. Hirsh “was instrumental in engineering FPA’s court victory over the Securities and Exchange Commission (SEC) regarding the SEC’s controversial Broker-Dealer Rule.” He was publicly thanked in a VIP session that included representatives and high-ranking members of the FPA from around the world.

Mr. Hirsh also presented an overview of the case for conference participants.

09-10-2007

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Latham & Watkins

Tax Department Garners Top Tier Rankings in Legal 500 Guide
Latham & Watkins' Tax Department received a number of top-tier rankings in Legal 500's most recent Real Estate, Labor & Employment and Tax Guide. The firm ranked in Tier 1 in the category Tax: "Domestic West Coast"; in Tier 2 for Real Estate Investment Trusts and Tax Controversy and in Tier 4 for International Tax. Referring to the firm's US West Coast tax practice, the guide stated: "a deal-driven practice, Latham & Watkins' exquisitely balanced tax department adds value to the large-scale transactional work that is a staple of the firm as a whole." The guide also added: "while the department prides itself on its generalist approach, it is large enough to have specialisms in a variety of areas, including project finance, structured finance and private equity." The firm's international tax practice was praised in the guide by clients for its "'ability to resource transactions across multiple jurisdictions.'" In the guide, clients also described the Latham tax controversy team as "'excellent.'" Legal 500 notes that Latham is well known in the REIT industry for its securities work, where the firm provides '"critical advice on fast-changing securities law.'"

09-10-2007

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King & Spalding

King & Spalding represents GE Global Media in Financing Purchase of National Grid's Cable and Wireless Businesses
King & Spalding, a leading international law firm, provided legal representation to GE Commercial Finance’s Media, Communications & Entertainment business in arranging and leading a $250 million senior secured credit facility to Lightower, a new entity formed by management, M/C Venture Partners and Wachovia Capital Partners to acquire the communications assets of National Grid Wireless U.S. from National Grid plc.

GE – Media, Communications & Entertainment is the administrative agent and GE Capital Markets acted as sole bookrunner and sole lead arranger for the facility.

National Grid Wireless U.S. will now be known as Lightower. Lightower operates an extensive communications infrastructure portfolio consisting of approximately 350 communications towers and over 1,100 route miles of dark fiber. Additionally, the company is a pioneer in outdoor distributed antenna systems, including launching the first, multi-carrier outdoor DAS in the U.S. on Nantucket three years ago. The company has also recently initiated a managed fiber backhaul offering and provides full turnkey site development services throughout the Northeast U.S.

Lightower will continue operations throughout the United States, marketing its wireless and fiber optic infrastructure to wireless communications companies, telecommunications providers, governmental agencies and medium to large enterprises. Over the last five years, the company has grown revenue and EBITDA by 45% and 51%, respectively.

The King & Spalding's legal team that advised on this matter was led by partner Carolyn Alford of the firm's Atlanta office.

09-10-2007

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