Law Firm News

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Law Firm News

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Davis Polk & Wardwell

Bunge Convertible Preference Share Offering
Davis Polk & Wardwell advised Credit Suisse Securities (USA) LLC as sole underwriter in connection with an SEC-registered offering by Bunge Limited of US$600 million of its 4.875% cumulative convertible perpetual preference shares with a liquidation preference of US$100 per share. Each preference share is convertible into common shares that trade on the New York Stock Exchange.

Bunge is the world’s leading oilseed processing company and the largest producer and supplier of fertilizers to farmers in Brazil.

The Davis Polk corporate team included partners Manuel Garciadiaz and Alan Dean and associates Alain Kuyumjian, Mariana Boranga and Tiago Peres. Partner Michael Farber provided tax advice. All members of the team work in the New York office.

11-20-2006

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Davis Polk & Wardwell

CIGNA Corporation Senior Notes Offering
Davis Polk & Wardwell advised Barclays Capital Inc. and J.P. Morgan Securities Inc. as joint book-running managers and representatives of the several underwriters on an SEC-registered debt shelf takedown by CIGNA Corporation of $250 million aggregate principal amount of its 6.15% senior notes due 2036.

Based in Philadelphia, PA, CIGNA Corporation and its subsidiaries constitute one of the largest investor-owned health care and related benefits organizations in the United States. CIGNA's subsidiaries are major providers of health care and related benefits offered through the workplace, including health care products and services, group disability, life and accident insurance, and disability and workers’ compensation case management and related services.

The Davis Polk team included partner Ethan T. James and associate Reena Agrawal. Partner Michael Farber and associate Gregory T. Hannibal provided tax advice. Partner Edmond T. FitzGerald provided ERISA advice. Damian Kasprzyk was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.

11-20-2006

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Davis Polk & Wardwell

Hornbeck Offshore Services, Inc. Convertible Notes Offering
Davis Polk & Wardwell advised Jefferies & Company and Bear, Stearns & Co. Inc. as managers of a Rule 144A offering by Hornbeck Offshore Services, Inc. of its $250 million 1.625% convertible senior notes due 2026. Davis Polk & Wardwell also represented affiliates of Jefferies & Company, Bear, Stearns & Co. Inc. and American International Group, Inc. as counterparties to call spread transactions relating to the notes.

Based in Covington, Louisiana, Hornbeck Offshore Services, Inc. is a leading provider of offshore supply vessels (OSVs) serving the offshore gas and oil industry, primarily in the U.S. Gulf of Mexico, Trinidad & Tobago and in other select international markets. The company is also a leading transporter of petroleum products through their tug and tank barge segment.

The Davis Polk corporate team included partner Witold Balaban and associate Posit Laohaphan of the New York office. Partner Po Sit and associate Yakov D. Mirocznik of the New York office provided tax advice.

11-20-2006

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Vedder Price Kaufman Kammholz

Jim Montana Comments on Internet Gaming Legislation (Video Clip)
Jim Montana of Vedder Price and Chair of the Litigation Practice Area, appeared November 20, 2006 for a segment on Internet Gaming.

11-20-2006

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Lieff, Cabraser, Heimann & Bernstein, L.L.P.

Court Rejects Scripps Health Attempt to Dismiss Class Action Lawsuit for Overcharging Uninsured Patients
By Order entered on November 20, 2006, the Hon. Judge Steven Denton substantially rejected an attempt by Scripps Health to dismiss a class action lawsuit that alleges that Scripps Health charges its uninsured patients unreasonable and unconscionable prices and uses aggressive and unfair collection practices against them.
On July 19, 2006, Phillip Franklin filed a class action cross-complaint against Scripps Health, a self-proclaimed not-for-profit hospital system based in San Diego, after Scripps sued Mr. Franklin through a collection agency. Mr. Franklin was uninsured at the time of treatment. Mr. Franklin alleged that he, like all other uninsured patients at Scripps, was charged unreasonable, unconscionable and excessive hospital bills. Scripps thereafter attempted to have the case thrown out of Court.
On November 20, 2006, the Court ruled that Mr. Franklin’s claims that Scripps engaged in unfair and unlawful practices can go forward. The Court rejected Scripps’ argument that existing law permitted the conduct Mr. Franklin challenges, finding that the law does not “... provide Scripps with the express unfettered right to charge uninsured patients unconscionable rates that bear no relation to the actual services performed.”
The Court further found that Mr. Franklin’s claim that “...it is unfair to represent that Scripps is a not for profit charitable hospital, but at the same time allegedly charge exorbitant rates to unsuspecting patients in order to maximize profits, ... sufficiently alleges a claim premised on unfair business practices.” While the Court sustained Scripps’ motion with respect to Mr. Franklin’s breach of contract claims, it also allowed Mr. Franklin the opportunity to further amend the complaint.
“We are pleased that the Court has recognized that Scripps does not have the right to price-gouge its most vulnerable patients. We intend to move forward and seek relief from Scripps’ prices -- which we have alleged are unreasonable -- on behalf of all of Scripps’ uninsured patients,” said Kelly M. Dermody, a partner at Lieff Cabraser Heimann & Bernstein, LLP, attorneys for Mr. Franklin.
Mr. Franklin seeks relief on behalf of himself and a proposed class consisting of tens of thousands of uninsured patients treated at Scripps hospitals since July 19, 2002.

11-20-2006

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Garan Lucow Miller P.C.

Jason C. Moody Joins Garan Lucow Miller’s Grand Rapids Office
Garan Lucow Miller, P.C., with offices throughout Michigan, announces Jason C. Moody has joined the law firm as an associate in the Grand Rapids office.
Previously, he was a law clerk for the firm. He was admitted to the State Bar of Michigan in November 2006. He also is a member of the U.S. District Court for the Western District of Michigan.
Mr. Moody’s areas of practice include business and transactional, intellectual property, insurance defense, automobile no-fault and product liability.
His professional memberships include the American Bar Association, Grand Rapids Bar Association and the American Inns of Court.
In addition, Mr. Moody is an Eagle Scout.

11-20-2006

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Holland & Hart, L.L.P.

Holland & Hart Attorneys Receive Philanthropic Leadership Award
Holland & Hart is pleased to announce that Arthur Hundhausen and Laura Dinan will receive The Denver Foundation's Philanthropic Leadership Award later this month.

The award is given annually to outstanding advisors who are furthering philanthropy in our community. The winners are selected by the Denver Foundation's Philanthropic Services Group based on their ability to help clients meet their legal and financial objectives while giving back to the Metro Denver community. This is the third year the Foundation has presented this award.

Mr. Hundhausen is a partner in the firm's Denver office. He is a member of the Tax practice group, with special focus in the area of non-profit and tax-exempt organizations. He has represented numerous tax-exempt public charities, private foundations, lobbying organizations, trade association, social clubs, and political organizations. He has advised these organizations in various contexts including formation, application to the IRS for recognition of exempt status, compensation reviews, joint ventures, unrelated business taxable income, mergers and dissolutions. He has also advised private donors regarding charitable giving issues.

Ms. Dinan is an attorney in our Denver office. She advises individual clients about charitable giving, wealth transfer, estate and business succession planning issues. She helps her clients achieve tax savings while meeting family and personal goals. Ms. Dinan has extensive experience with sophisticated planning techniques utilizing vehicles such as charitable foundations, limited liability companies, limited partnerships, and irrevocable trusts. Ms. Dinan's practice also includes estate planning and administration.

"These individuals have made a dramatic impact on our community by helping their clients make important decisions about their philanthropy," said Betsy Mangone, Vice President, Philanthropic Services Group, The Denver Foundation. "They exemplify our goal of connecting people who care with causes that matter."

The Denver Foundation is a community foundation dedicated to improving life in Metro Denver through philanthropy, leadership and strengthening the community.

11-20-2006

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