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Allen & Overy aid in the consolidation of a Euro 500 million real estate portfolio

Allen & Overy has successfully counseled a leading corporate group comprising some well-known international entities in the purchase of the real estate portfolio of VHS.

The consortium includes Breevast, a multi-national company involved in property investment and development in the Netherlands and North America, and FGH, a specialized commercial real estate bank almost exclusively active in the Netherlands.

VHS, which is going public-to-private, held the real estate portfolio, which is valued at nearly Euro 500 million, along with its subsidiary companies. The deal was handled by the Dutch partner of Allen & Overy who claim consolidation of real estate portfolios is an emerging trend. As an international legal practice in 25 major markets worldwide, Allen & Overy is well-equipped to play a major role in such deals.

04-21-2006

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Splitsville for two founders of Newburgh law firm

Two founders of Drake, Sommers, Loeb, Tarshis & Catania, one of the largest general practices in the Hudson Valley, have departed from the firm.

Richard Drake and James Loeb have left with five other partners from the firm and formed their own practice. The new firm comprises nine attorneys and a support staff of 12.

Drake, Sommers, Loeb, Tarshis & Catania is now to be known as Tarshis, Catania, Liberth, Mahon & Milligram, PLLC. The Newburgh law firm continues to provide legal representation to clients in a wide variety of commercial and litigation matters. It beefed up its ranks with the addition of Jason D. Minard, an associate attorney who recently graduated at the top of his class from the University of Miami School of Law.

04-21-2006

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Houston firm announces record-breaking bonuses

Houston commercial litigation boutique Gibbs & Burns LLP has announced record bonuses for its associates. The firm is paying bonuses to its associates equal to his or her annual salary. Though its salary structure does not match the current market highs, this is a unique compensation strategy.

The bonus structure is based on the overall success of the firm and is not linked to billable hours. The firm has demonstrated its strong belief in the philosophy of sharing its wealth. Gibbs & Burns LLP finalized settlements in excess of $500 million in the past twelve months and expects some major additional recoveries from cases which are yet to be settled.

Senior associates have received bonuses equal to two times their annual salaries in the past twelve months. The firm's non-attorney staff also received bonus' matching several months' pay. In addition, the firm is planning to offer increases in salaries.

04-20-2006

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Morrison & Foerster's new recruits

Lisa Weiss, former General Counsel to Sony BMG Music Entertainment, and Craigh Leonard from Bingham McCutchen have joined Morrison & Foerster. Both well-known corporate attorneys will practice in the firm's New York office.

Joining Morrison & Foerster as a senior counsel, Craigh Leonard was formerly a Corporate Partner with Bingham McCutchen, handling consumer goods transactions for leading consumer brands, public offerings, private placements, senior and subordinated debt financings, senior management compensation arrangements, private equity and venture capital investments and corporate restructurings.

Lisa Weiss has worked in the media sector for many years. At Sony Music, she was instrumental in structuring the merger that established Sony BMG as the world's second-largest recording company. After the merger, she served as General Counsel. Previously, as a partner at Rosenman & Colin LLP in New York, she was a member of the corporate department and a founding member of the media and communications practice group.

04-20-2006

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Kelley Drye & Warren and Collier Shannon Scott seal merger

The merger between Kelley Drye & Warren and Collier Shannon Scott has been finalized. The new entity will now be known as Kelley Drye Collier Shannon in Washington, DC, and Kelley Drye & Warren in its other offices worldwide.

Both firms have significant practices in Washington, DC, which will be enhanced by the move. Its lawyer count now totals nearly 400 and gross revenues are anticipated to move beyond $220 million. Practice areas such as international trade and customs, advertising, government relations, environmental and antitrust are anticipating a boost from the merger. In addition, a new litigation practice from Collier Shannon will be added.

Managing partners of Kelley Drye's Northern Virginia office and Washington, DC, office will remain part of the executive committee across the firm.

04-20-2006

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Armstrong Allen finally merges with Adams and Reese

After weeks of uncertainty and hearsay on the future of Armstrong Allen, the firm is finally merging with regional player Adams and Reese. The merger will be effective May 1, 2006.

Adams and Reeve is opening an office in Memphis with 15 attorneys formerly with Armstrong Allen, enhancing its national litigation and transactional practices. The merger is also predicted to give the firm's regional practice a boost, which is already booming due to a 2005 merger with Nashville's Stokes Bartholome.

04-19-2006

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Butler Snow strengthens Memphis office

Adding four attorneys to its Memphis office,Butler, Snow, O'Mara, Stevens & Cannada PLLC is now the biggest firm in the city. With a progressive growth history, starting with one lawyer in 1998, the recent addition has augmented its strength in Memphis to 39 attorneys.

Out of the four, three lawyers were earlier with Armstrong Allen. They are Charles Crawford, Amy Pepke and Jason Yarbro. The fourth, Effie Bean is moving in from Thomason, Hendrix, Harvey, Johnson and Mitchell. The new entrants would add to the firm's expertise in commercial, healthcare, corporate and real estate litigation.

Butler Snow is also establishing a presence throughout Tennessee and Mississippi. The firm's more than 140 attorneys specialize in almost every major area of law.

04-19-2006

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