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London Office Handles Secondary Offering of Swiss Re Stock
The Paul Weiss London Office represented Swiss Reinsurance Company in connection with an accelerated book build (ABB) covering approximately 16.65 million Swiss Re shares. The ABB covered half of the shares received by GE in connection with the sale of GE Insurance Solutions to Swiss Re in June 2006. Just before the announcements by the banks, Swiss Re announced its intention to repurchase the remaining approximately 16.65 million shares from GE. The transactions, the announcements of which followed the release of record results by Swiss Re (now the world's largest reinsurance company), are valued in the aggregate at approximately $2.8 billion.

03-01-2007

Paul, Weiss Closes Two for Capmark
Paul, Weiss handled two simultaneous closings for client Capmark Investment, L.P. (formerly GMAC Commercial Mortgage). Capmark provided a $70 million revolving land development loan to an affiliate of the Westbrook Real Estate Fund and the Getty Trusts for the development of a subdivision of residential oceanfront lots on the Kohala Coast near Kona, Big Island, Hawaii. The Paul Weiss team consisted of real estate partner Peter Fisch, associates Stephan Steiner and Josh Babbitt and legal intern Mike Roberts, with assistance from counsel Barry Langman and former counsel Colleen Codey, who came out of retirement for the closing effort; and bankruptcy assistance from partner Doug Davis and associate Toby Clark. Paul, Weiss also assisted Capmark in acquiring, in a joint venture with Marathon Structure Finance Fund, an $80 million preferred equity position in a portfolio of 13 multi-family properties in Maryland. The transaction was handled by real estate partner Peter Fisch, counsel Barry Langman and former associate Riva Horwitz.

03-01-2007

Citigroup Acquires Ecount, Inc.
Our client Citigroup Inc. announced yesterday that it has acquired Ecount, Inc., a Consohohocken, Pennsylvania-based electronic-payments firm, that provides prepaid MasterCard and Visa cards to more than 1,200 corporations. Acquiring the company will strengthen Citigroup's prepaid-card portfolio. The terms of the transaction were not disclosed. The Paul, Weiss team working on the transaction are mergers and acquisitions partners Paul Ginsberg and Matt Abbott and associates Lisa Kisber and Audrey Woo; tax partners Jeff Samuels and associate Mashiho Yuasa; and intellectual property partner Chuck Googe and associate Melissa Manfro.

03-01-2007

Paul Hastings Strengthens Finance and Restructuring Practice with the Addition of Partners Thomas Kent and Anthony Princi
Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, is pleased to announce today the addition of finance and restructuring partners Thomas L. Kent and Anthony Princi to the firm's Corporate Department, resident in the New York and London offices, respectively. Previously with Orrick, Herrington & Sutcliffe LLP, their practice focuses on creditor-side restructuring, private equity/debt transactions, and distressed debt trading.

"Paul Hastings is committed to growing its bankruptcy and restructuring group and is dedicated to becoming a leader in this practice in all of the markets in which we operate," said John Hilson, Chair of the Finance and Restructuring Practice Group. "The addition of Tom and Tony to our New York and London offices, two of the largest and most influential financial markets in the world, is an important step in reaching this goal. Both attorneys are highly regarded within the industry and we are pleased to have them on board."

Thomas Kent specializes in creditor-side engagements in Chapter 11 proceedings and out-of-court restructurings. He has extensive experience in cases involving oil and gas, manufacturing, distribution, construction, and telecommunications. Mr. Kent also represents financial institutions in private equity investments in distressed companies and in distressed debt trading. He is cited in Chambers & Partners and the Legal 500.

Anthony Princi, who formerly co-headed Orrick's Global Bankruptcy and Debt Restructuring Group, has a cross-border practice specializing in creditor-side restructurings, private equity investment in debt and equity transactions, and distressed debt trading. He has extensive international experience in representing secured and unsecured creditor committees in contested and consensual bankruptcies and out-of-court restructurings. Mr. Princi is cited in Chambers & Partners in the Legal 500.

03-01-2007

Fulbright Offers Pro Bono Bond Counsel Services to Texas MAC
Fulbright, with one of the top-ranked national practices in both municipal securities and IP litigation, is assisting the Municipal Advisory Council (MAC) of Texas pro bono in defending a patent infringement lawsuit filed by Orlando-based Digital Assurance Certification LLC (DAC).

Texas MAC operates a Central Post Office (CPO) disclosure dissemination facility that collects and distributes muni issuers' secondary market disclosure documents to repositories free of charge. MAC established the CPO at the request of the Muni Council, an industry group with representatives from all sectors of the municipal securities industry.

The DAC suit alleges that the CPO is being operated in violation of a patent that DAC obtained for its own disclosure and dissemination services in December. DAC has asked a Florida federal court to shut down the MAC CPO.

03-01-2007

Fennemore Craig Expands Natural Resources Practice
Fennemore Craig’s real estate and business practices are expanding with the addition of two directors and four associates to the firm’s office in Las Vegas. David LeGrand and Don Martin have joined Fennemore Craig as directors to concentrate on Corporate and Real Estate Transactions, supported by associates Mark Hawkins, Jeffrey Steffen, Paul Wassgren and Daniel Wilmot.

“David and Don, together with the associates coming with them, add breadth and depth to
Fennemore Craig’s real estate and business practice capabilities in Las Vegas,” said John Mowbray, Las Vegas managing partner for Fennemore Craig. “Fennemore Craig has more than 40 attorneys in these practice areas across the firm, providing significant depth for our clients here and across the West.”

David LeGrand, was elected a Fennemore Craig director and practices primarily in the areas of corporate, real estate and securities law, with an emphasis on entity selection, formation, capitalization and finance. LeGrand is licensed in Nevada and Ohio, as well as with the United States Tax Court. He earned his law degree from Ohio State University and his undergraduate degree from Duke University. Prior to joining Fennemore Craig, he was of counsel to the law firm Marquis & Aurbach. Earlier in his career, he served as an enforcement attorney in the Ohio Division of Securities where he became counsel to the commissioner. He subsequently cofounded his own firm in Columbus, Ohio and moved to Nevada in 2001.

Since coming to Nevada, LeGrand co-founded and served as a director of the Vegas Valley Angels, a non-profit angel investment organization. He currently serves as a trustee for the Nevada Technology Alliance and Technology Business Alliance of Nevada. In 2004, the Las Vegas Chamber of Commerce awarded him the Community Achievement Award in the professional category. In 2005, he graduated from the Chamber’s leadership program.

Don Martin was elected a director of Fennemore Craig. He practices in the areas of real estate and commercial transactions, lending, corporate and business law, and taxation. Martin is Articles Nexis graduate of the University of San Diego School of Law. He also obtained a master’s of law in taxation at USD School of Law. He also holds has an undergraduate degree and a master’s degree in finance and management from San Diego State University. He was an attorney at Marquis & Aurbach before joining Fennemore Craig. He has served as a trustee for Crime Stoppers of Nevada and has been active in the Boys and Girls Club of Nevada and the Southern Nevada Police Toy Drive.

In addition to LeGrand and Martin, four associates working in the areas of corporate and real estate transactions, are now part of Fennemore Craig’s commercial practice in Las Vegas as well. They are Mark Hawkins, who holds a law degree from Southern Methodist University Dedman School of Law; Jeffrey Steffen, who is a graduate of the John Marshall Law School in Chicago; Paul Wassgren, who earned his law degree at Oxford University; and Daniel Wilmot, whose law degree is from Willamette University College of Law.

03-01-2007

Fennemore Craig Expands Real Estate and Business Practices in Las Vegas
Fennemore Craig’s real estate and business practices are expanding with the addition of two directors and four associates to the firm’s office in Las Vegas. David LeGrand and Don Martin have joined Fennemore Craig as directors to concentrate on Corporate and Real Estate Transactions, supported by associates Mark Hawkins, Jeffrey Steffen, Paul Wassgren and Daniel Wilmot.

“David and Don, together with the associates coming with them, add breadth and depth to
Fennemore Craig’s real estate and business practice capabilities in Las Vegas,” said John Mowbray, Las Vegas managing partner for Fennemore Craig. “Fennemore Craig has more than 40 attorneys in these practice areas across the firm, providing significant depth for our clients here and across the West.”

David LeGrand, was elected a Fennemore Craig director and practices primarily in the areas of corporate, real estate and securities law, with an emphasis on entity selection, formation, capitalization and finance. LeGrand is licensed in Nevada and Ohio, as well as with the United States Tax Court. He earned his law degree from Ohio State University and his undergraduate degree from Duke University. Prior to joining Fennemore Craig, he was of counsel to the law firm Marquis & Aurbach. Earlier in his career, he served as an enforcement attorney in the Ohio Division of Securities where he became counsel to the commissioner. He subsequently cofounded his own firm in Columbus, Ohio and moved to Nevada in 2001.

Since coming to Nevada, LeGrand co-founded and served as a director of the Vegas Valley Angels, a non-profit angel investment organization. He currently serves as a trustee for the Nevada Technology Alliance and Technology Business Alliance of Nevada. In 2004, the Las Vegas Chamber of Commerce awarded him the Community Achievement Award in the professional category. In 2005, he graduated from the Chamber’s leadership program.

Don Martin was elected a director of Fennemore Craig. He practices in the areas of real estate and commercial transactions, lending, corporate and business law, and taxation. Martin is Articles Nexis graduate of the University of San Diego School of Law. He also obtained a master’s of law in taxation at USD School of Law. He also holds has an undergraduate degree and a master’s degree in finance and management from San Diego State University. He was an attorney at Marquis & Aurbach before joining Fennemore Craig. He has served as a trustee for Crime Stoppers of Nevada and has been active in the Boys and Girls Club of Nevada and the Southern Nevada Police Toy Drive.

In addition to LeGrand and Martin, four associates working in the areas of corporate and real estate transactions, are now part of Fennemore Craig’s commercial practice in Las Vegas as well. They are Mark Hawkins, who holds a law degree from Southern Methodist University Dedman School of Law; Jeffrey Steffen, who is a graduate of the John Marshall Law School in Chicago; Paul Wassgren, who earned his law degree at Oxford University; and Daniel Wilmot, whose law degree is from Willamette University College of Law.

03-01-2007

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