Law Firm News

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Law Firm News

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Simpson, Thacher & Bartlett, LLP

Simpson Thacher Represents Universal Studios Japan in its IPO
Simpson Thacher recently represented Japan's USJ Co., Ltd., the owner and operator of Universal Studios Japan, in its initial public offering. The global offering of 577,143 shares of common stock raised total proceeds of approximately 28 billion yen, or approximately $236 million, for USJ and four selling shareholders. The global coordinators for the offering were Goldman Sachs International and Nomura Securities. The offering was conducted as a public offering in Japan, with a listing on the Mothers Market of the Tokyo Stock Exchange, and an international offering to institutional investors under Regulation S and Rule 144A.

With 8.7 million visitors in its most recent fiscal year, Universal Studios Japan is the second largest theme park destination in Asia and has the highest attendance of any Universal Studios theme park in the world. USJ was formed in 1994 and opened its theme park to the public in 2001. Its largest shareholder currently is an affiliate of The Goldman Sachs Group.

The Simpson Thacher attorneys who worked on the transaction include David Sneider, Lou Rabinowitz and David Azcue in Tokyo, Rob Holo and Melissa Ganz in New York and Benjamin Applestein in Palo Alto.

04-27-2007

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Simpson, Thacher & Bartlett, LLP

Firm Represents Country Garden Holdings Company Limited in the Largest Non-REIT IPO of Any Property Company Out of Asia (Ex-Japan)
The Hong Kong office of the Firm represented Country Garden Holdings Company Limited, one of the leading integrated property developers in China, in connection with its initial public offering in Hong Kong and Rule 144A/Reg. S offering of 27,600,000,000 ordinary shares, raising approximately HK14.85 billion (approximately US$1.90 billion). Country Garden's ordinary shares are listed on the Hong Kong Stock Exchange. The transaction is the largest ever non-REIT IPO of any property company out of Asia (ex-Japan). The joint bookrunners for the offering were Morgan Stanley and UBS.

The Simpson Thacher team for the transaction included Leiming Chen, Zhengming Pan and David Lee (Corporate - Hong Kong), Glenn Reiter (Corporate - New York) and Rob Holo, Benjamin Applestein and Jeffrey Graff (Tax).

04-27-2007

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Simpson, Thacher & Bartlett, LLP

Simpson Thacher Achieves NY Court of Appeals Victory for Davis Polk & Wardwell
Simpson Thacher has achieved a significant victory before the New York Court of Appeals on behalf of Davis Polk & Wardwell. In 1992 Ambase Corp. retained Davis Polk to represent it in a tax case brought by the Internal Revenue service. After Davis Polk won the case for its client, Ambase balked at paying the "success fee" required under the retainer agreement it had signed with the firm.

Despite the victory achieved on its behalf, AmBase filed a legal malpractice claim seeking return of previously-paid legal fees. The company alleged that Davis Polk waited too long to inform it that it likely would not have no liability for the taxes sought by the IRS. Thus, according to AmBase, for years it was forced to carry an unnecessarily large loss reserve to its financial detriment.

Simpson Thacher gained dismissal of the Complaint and obtained affirmance of that dismissal by the Appellate Division, First Department. AmBase appealed to the New York Court of Appeals.

On April 26 the Court of Appeals unanimously held that AmBase's contention that it suffered from the lack of earlier notice that it likely would have no tax liability "purely speculative" and insufficient to support a claim for legal malpractice. The Court also rejected an argument by AmBase that it was denied due process under the federal and state constitutions when the trial court ordered it to pay the "success fee" without a separate proceeding for recovery of a money judgment.

Litigation partner Roy L. Reardon represented Davis Polk in the matter.

04-27-2007

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McDermott Will & Emery

Washington, D.C. Office Welcomes Trial Partner
McDermott Will & Emery is pleased to announce that Paul M. Thompson has joined the Firm as a partner in the Trial Department, based in the Washington, D.C. office. During the 109th Congress, Mr. Thompson served as counsel to former Ohio Senator Mike DeWine on the U.S. Senate Judiciary Committee.

"Paul's breadth of experience at both the trial and appellate levels, and his invaluable experience with the Senate Judiciary Committee are a wonderful addition to our practice," commented Bobby Burchfield, co-partner-in-charge of the Washington, D.C. office.

While working for Senator DeWine, Mr. Thompson handled a number of high-profile matters. He served as lead counsel during the Senate confirmation hearings for both Chief Justice John Roberts and Justice Samuel Alito, the reauthorization of the USA PATRIOT ACT, the passage of the Military Commissions Act (2006), and legislation concerning the National Security Agency's warrantless surveillance program.

From 2002-2005, Mr. Thompson was an Assistant U.S. Attorney in the Appellate Section of the U.S. Attorney’s Office in Pittsburgh, Pennsylvania, where he served as Ethics Advisor, Professional Responsibility Officer, and Acting Chief of the Appellate Section. During his time with the U.S. Attorney's Office, Paul represented the government in more than 80 criminal and civil appeals before the United States Courts of Appeals and dozens of matters in the United States District Courts.

From 2000-2002, Mr. Thompson served as a law clerk to the Honorable D. Brooks Smith, former Chief Judge of the U.S. District Court for the Western District of Pennsylvania and current member of the U.S. Court of Appeals for the Third Circuit. He received his J.D. from Harvard Law School, magna cum laude, and his A.B., magna cum laude, Phi Beta Kappa, from Harvard College.

McDermott’s Washington, D.C. office, founded in 1978, has become a full-service location with more than 200 lawyers practicing in a host of areas that include multinational corporations, government and political institutions, environmental agencies, international organizations and high technology companies. McDermott's Trial Department is well-known for providing clients with a unique blend of trial skills and substantive experience which can be effectively used in the many areas of law and business where disputes arise.

04-27-2007

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McDermott Will & Emery

The Blue Cross and Blue Shield Association Settles Class Action
Today, The Blue Cross and Blue Shield Association (BCBSA), along with 23 of its affiliated health care plans representing 52 million members in the United States, announced an agreement with a nationwide class of approximately 900,000 physicians. In 2003, the class sued all the Blue Plans in a RICO conspiracy complaint in Miami, Florida.

McDermott Will & Emery represented 13 of the settling Plans, including the largest such plan, Health Care Services Corporation. As part of the settlement, the Plans agreed to some business changes and to make future investments in their infrastructure, which will make communication with physicians quicker and the Plans’ payment policies more transparent. Approximately $128 million will be paid to a fund to settle physicians’ claims, with an additional amount, capped at $49 million, to be paid by the defendants for legal fees.

Chicago trial partner Michael A. Pope acted as lead counsel for the defendants. He was assisted by Chicago partners Marie Halpin and Chris Murphy; Washington, D.C. health partner Joel Michaels; Miami partner Steven Siff and Miami associate Michael Austin.

McDermott's Class Action Practice Group has extensive experience in the defense of a wide variety of class action lawsuits in state and federal courts throughout the United States. Our lawyers have successfully obtained pre-certification dismissals and summary judgments, conducted class discovery, defeated class certification and obtained de-certification of classes in cases of both local and national scope. We have practiced before the Multi-District Panel, and have served as lead defense counsel in class action hearings in federal multi-district litigation, where we have briefed and argued important issues of first impression with respect to class action practice and procedure.

04-27-2007

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Jenner & Block LLP

Jenner & Block Obtains Victory for Clients in Dismissal of Qui Tam Lawsuit
"Jenner & Block attorneys recently secured a victory for clients Palmetto Government Benefits and BlueCross BlueShield of South Carolina when a federal court dismissed a Civil False Claims Act action brought against the companies.

A small business owner had filed a qui tam lawsuit against the companies claiming they submitted false Medicare claims and made false statements relating to administrative duties under their contract to provide Medicare services.

The United States District Court for the Southern District of Florida granted the Firm’s Motion to Dismiss with prejudice, ruling that Palmetto, as a carrier, enjoys absolute immunity from suit under the Medicare Act. In addition, the court ruled that the business owner failed to plead fraud with specificity as required by the False Claims Act, noting that he did not “identify or produce a single fraudulent claim form or report by Palmetto.”

“Dismissal with prejudice isn't common in these actions, but the Court found, as we had argued, that permitting the plaintiff to amend its complaint would be futile,” said Partner W. Jay DeVecchio, who argued the case. “This decision also reiterates Eleventh Circuit precedent that provides immunity for Medicare Carriers and Intermediaries, and it reinforces the principle that plaintiffs in these sorts of cases must plead fraud with particularity.”

Former Jenner & Block Partner, Kathleen Karelis, now General Counsel, & Corporate Secretary of L-3 Communications Corporation, was responsible for this matter until her departure for L-3. Partner Darren H. Lubetzky and Associates Matt S. Hellman, and Kathryn E. Loncarich also contributed to the case."

04-27-2007

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Willkie, Farr & Gallagher, LLP

London and Brussels Offices Advise Fortis NV in Approach for ABN Amro
As reported widely in the international press, the firm is advising Dutch-Belgian financial group Fortis SA NV, which together with the Royal Bank of Scotland plc and Spain's Banco Santander Central Hispano SA, notified their intention to make a public offer for international fnancial services provider ABN Amro, following UK-based Barclays plc's announced agreement to an offer for the Dutch bank. On April 26, ABN Amro shares closed at €36.25, giving it a market capitalization approaching €68 billion ($93 billion). The transaction is being handled by partners Gregory Astrachan (London) and Xavier Dieux (Brussels), and special European counsel Jon Lyman (London).

04-27-2007

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