Law Firm News

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Law Firm News

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Obermayer, Rebmann, Maxwell & Hippel, L.L.P.

Obermayer’s Michael E. Bertin Selected as a Pennsylvania “Lawyer on the Fast Track”
Obermayer Rebmann Maxwell & Hippel LLP is pleased to announce that Michael E. Bertin, an associate in the Litigation department of the firm, has recently been selected as one of this year’s Pennsylvania “Lawyers on the Fast Track.”

Bertin is one of 35 Pennsylvania attorneys under the age of 40 selected by The Legal Intelligencer and Pennsylvania Law Weekly for this honor that recognizes the future leaders of Pennsylvania’s legal community. The winners will be honored at the annual Fast Track Dinner in Philadelphia on Sept. 20, 2007. His profile, along with this year’s honorees, will be included in The Legal Intelligencer’s supplement to be published on September 24, 2007.

Bertin concentrates his practice in the area of family law, where he handles all phases of the negotiation and litigation of domestic relations cases, including divorce, custody, support, alimony, property distribution, adoption, prenuptial agreements and related issues.

Bertin is a former member of Council of the Family Law Section of the Pennsylvania Bar Association and is also co-chair of that Section’s Program Committee. He is co-chair of the Custody Committee and serves on the Executive Committee of the Family Law Section of the Philadelphia Bar Association.

Bertin was also selected as a “Pennsylvania 2006 Rising Star” in the December issue of Philadelphia magazine and the Law and Politics Magazine, Pennsylvania Super Lawyers - “Rising Stars 2006” edition.

He is a frequent lecturer and author on family law topics. He recently co-presented “Prepping Your Client for Their Custody Evaluation” at the Pennsylvania Bar Association Family Law Section 2007 Summer Meeting in Cambridge, MD.

His recent publications include: “Supplemental-Needs Trust Is Considered Income in Child-Support Case,” The Legal Intelligencer, Vol. 236, No. 31 (August 14, 2007) and “First Impression: Bifurcation Under the Amended Divorce Code,” The Legal Intelligencer, Vol. 235, No. 113 (June 12, 2007); Case Notes in the Pennsylvania Bar Association’s Pennsylvania Family Lawyer, including “Superior Court Says No to Netherlands Child Relocation Request,” Vol. 29, No.1 (May 2007).

He received his Bachelor of Arts degree, cum laude, from the University of Pittsburgh and his Juris Doctor from Temple University School of Law. He was the recipient of the American Academy of Matrimonial Lawyer’s Eric D. Turner Award at Temple University School of Law.

08-07-2007

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White & Case, LLP

Buyout Investors in for Restructuring Surprise
Key participants in the European buyout market are virtually unanimous in their belief that investors are in for a shock in the next wave of leveraged buyout restructurings, according to a survey conducted by White & Case and In-House Lawyer magazine. The survey polled senior figures at leading banks, which were bookrunners for over $60 billion (more than half) of all European leveraged buyout loans in 2006, partners from sponsors that account for $30 billion of invested funds, and insolvency practitioners and turnaround specialists from leading firms in the field.

Ninety-four percent believe that the introduction of so many new financing structures in the market, which are as yet untested in a restructuring scenario, along with the arrival of new market participants, means that investors are going to be in for a surprise in future leveraged buyout restructurings. Moreover, nine out of 10 respondents think that covenant-lite deals, the use of which has developed and seemingly fizzled rapidly in Europe recently, would change the timing and severity of restructurings.

"The growth of high yield, mezzanine and second lien financings in the European market, without historical structural subordination, means there are a lot of structures out there which are untested in various European jurisdictions and which therefore may not behave in line with historical experience. Not only that, but the influx of new players in the market in recent years, in particular hedge funds and other distressed debt investors, will lead to new and different approaches in future restructurings. The next wave is likely to be very different to those at the turn of the last credit cycle," explained partner Dan Hamilton, head of White & Case's Financial Restructuring & Insolvency practice in London.

While at the time of the survey, most respondents were confident of the strength of the market, when asked if they thought the current nature of the European leveraged finance market was unsustainable, 59 percent thought that it was, with more than three-quarters (79 percent) of this figure believing the bubble would burst in the medium term.

Interestingly, the research revealed a divergence in opinion between lenders, sponsors and turnaround specialists on the sustainability of the leveraged lending market. Investment bankers were far less circumspect, with only 36 percent believing the market to be unsustainable, but a clear two-thirds majority (67 percent) of sponsors believed this to be the case. Unsurprisingly, turnaround specialists were the most hawkish, with nine out of 10 (91 percent) taking this view.

In descending order, the top three industry sectors voted most likely to experience loan default in the next year were Retail, Heavy Industry and Manufacturing, with the UK, Germany and Italy listed as the top three countries for likely defaults in the same period.

Opinions are divided on whether the European leveraged loan market is better equipped today to deal with potential loan defaults than it was five years ago, with 51 percent of respondents thinking it is and 46 percent thinking it is not. This perhaps reflects the fact that on the one hand, there are more insolvency professionals today than five years ago and also a far more developed secondary debt market, but on the other hand there is a whole range of untested structures which have not necessarily been planned for.

When asked who the most influential players in the next wave of restructurings would be, respondents believed that investment bank distressed debt teams, followed by hedge funds, will be the most influential.

"Restructuring and turnaround professionals are going to be of fundamental importance in navigating the next cycle of restructurings, but the research acknowledges the importance of the players that have the real financial firepower, namely the investment banks and hedge funds," commented Hamilton. "Hedge funds were something of an unknown quantity in restructuring circles just a few years ago, but are now permanent and familiar fixtures."

08-07-2007

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Stradley Ronon Stevens & Young, LLP

General Counsel to the U.S. Conference of Catholic Bishops Joins Stradley Ronon
The former general counsel for the United States Conference of Catholic Bishops (USCCB), Mark E. Chopko, has joined Stradley Ronon Stevens & Young, LLP as a partner in the firm’s Washington, D.C., and Philadelphia offices.

Chopko takes over as chair of the firm’s nonprofit & religious organizations practice group, bringing more than 20 years of experience serving as the principal legal officer to the USCCB.

“We are thrilled to welcome Mark Chopko to the firm,” said Stradley Ronon Chairman William R. Sasso. “As a nationally recognized authority in constitutional law and church-and-state affairs, Mark will strengthen our existing litigation capabilities and expand the services we can offer to nonprofit and religious organizations,” Sasso said. “His experience will also allow us to build on current relationships and strengthen our national religious-services practice.”

As general counsel for the USCCB – an organization that provides a framework by which the Catholic Bishops of the United States addresses important issues of national policy and matters affecting church life – Chopko has led a seven-lawyer staff that handles comprehensive litigation, corporate, tax, intellectual property, employment and government contracts services. He was also the public contact for the USCCB on all legal matters, including church-state, Supreme Court cases, bankruptcy, complex litigation and bioethics. Chopko has participated in more than 30 Supreme Court cases as counsel for the Catholic Bishops as well as other religious groups, in friend-of-the-Court briefs. He is also nationally known for his work on the tort liability of nonprofit entities.

“In addition to Mark’s depth of experience in constitutional law, his knowledge in other disciplines, especially litigation, that affect religious and nonprofit organizations, complements and builds on our established and growing practice in those areas,” added Stradley Ronon Business Department Chair Kevin R. Boyle. “His history of assisting a wide variety of religious denominations based not only in the United States but all over the world, places him in a very unique and exclusive group of attorneys.”

Chopko is an adjunct professor of law at Georgetown University where he teaches a seminar on church-state law. He has lectured widely in the United States and in Europe on liability trends, church-state relations, legal ethics for church lawyers, assisted suicide and a variety of other topics, at conferences hosted by bar associations, colleges and universities, lawyer guilds and religious organizations. Chopko is also the published author of more than 40 articles on topics including church-state affairs, education, bioethics and liability issues.

He graduated with a B.S., summa cum laude, from the University of Scranton in Pennsylvania and received his J.D., cum laude, from the Cornell Law School in Ithaca, N.Y.

08-07-2007

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Roetzel & Andress A Legal Professional Association

Todd Broski Joins Cleveland Office of Roetzel & Andress
The law firm of Roetzel & Andress is pleased to announce Todd A. Broski has joined the firm as an associate in the Cleveland office.

A member of the firm's Business Services Group, Mr. Broski concentrates his practice on corporate law, including advising businesses and investors on entity selection and formation; corporate governance; merger, asset and stock acquisition; and private placement of securities. In addition, he has an extensive background in business litigation matters and has represented companies, securities broker-dealers, banks and financial institutions in complex business disputes.

Mr. Broski earned his juris doctorate degree, magna cum laude, from Cleveland-Marshall College of Law. He received a B.A. in Political Science from Miami University.

08-07-2007

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Roetzel & Andress A Legal Professional Association

Geraldine Butler Joins Roetzel & Andress
The law firm of Roetzel & Andress is pleased to announce the addition of Geraldine "Gerri" J. Butler as an associate in the Akron office.

Ms. Butler has focused her practice in the area of product liability for the past four years. Previous to that she was a judicial clerk for the Honorable Daniel Gaul in the Cuyahoga County Court of Common Pleas. She is a member of the American, Ohio State and Cleveland Bar Associations.

In addition, she sits as a committee member on the NCAA Division III Committee on Infractions.

She earned her juris doctorate degree from Cleveland-Marshall College of Law and her B.A. from John Carroll University.

08-07-2007

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Robins, Kaplan, Miller & Ciresi, L.L.P.

Jury Awards $2.5 Million Medical Malpractice Verdict
Partner Chris Messerly obtained a record $2.5 million medical malpractice verdict in Wausau, Wisconsin. The case involved the failure of a neurosurgical team to promptly diagnose and perform surgery on a severe back condition called cauda equina syndrome. The case was brought on behalf of a 54 year old farmer and his wife. The farmer can no longer work on his farm which has been in his family since the 1870's. The farmer has lost significant function of his bowel and bladder and much of the use and feeling of both of his legs. Chris Messerly stated that "the significance of the recovery is not the size of the verdict itself, but the fact that the funds will allow the family to keep their farm and provide for future medical expenses and loss of income." Chris was assisted at trial by associate Cindy Hanneken.

08-07-2007

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Orrick LLP

Orrick adds Korea-Team in Hong Kong
Orrick, Herrington & Sutcliffe LLP announced today that Mark J. Lee, formerly a member of Debevoise & Plimpton's Mergers & Acquisitions and Securities Groups, has joined the firm as a partner in its Hong Kong office. Mr. Lee is the sixth new partner added in Orrick's China offices in 2007, and is joined by David Cho, of counsel and an associate, also from Debevoise & Plimpton LLP.

"Mark is one of the most highly respected Korea-focused international lawyers, and he is an excellent addition to our pan-Asian practice," said Christopher Stephens, Managing Partner of Orrick's Asian offices. "Mark and his team fill several strategically important roles for Orrick by providing additional on-the-ground U.S. capital markets experience in Asia and bolstering our growing Asian M&A and private equity practices."

Lee has represented a broad base of clients including underwriters, private equity funds, governmental agencies, telecommunications and technology companies in various high profile transactions. In Asia, Lee represents domestic and multinational companies as well as all of the major underwriters on a wide variety of matters, including U.S. SEC-registered initial public offerings, and Rule 144A/Regulation S equity/debt and equity-linked offerings. He also represents clients on significant cross-border mergers and acquisitions transactions for strategic and financial investors.

"Orrick's demonstrable commitment to Asia, its broad-service platform, dynamic leadership and its practice-oriented management all drew us to the firm," said Lee. "These characteristics are critical for success in the Asia market because it requires local nimbleness while having the full resources and support of an international firm."

At Orrick, Lee will round out a Korea team that includes Eugene Chang, a Tokyo-based finance partner who focuses on project and structured finance and M&A transactions involving Korea, and Michelle Taylor, a Hong Kong-based partner and head of Orrick's regional structured finance team who has advised on numerous prominent transactions including the first future flow securitization in Korea.

"South Korea is the world's 12th largest economy, and is continuing to open its domestic markets, accelerating the pace of privatizing state-owned companies and enjoying significant liquidity and high stock valuations. At the same time, more foreign investment is flowing into Korea and Korean companies are increasingly active in their outbound financial and commercial investment activities," said Stephens. South Korea is completing free trade agreements with the U.S., Canada, the European Union, Australia and New Zealand, and the resulting surge expected in the foreign direct investment sector bodes well for our Korea practice," said Stephens.

Lee received his B.A. from the University of Chicago in 1990. He received his M.B.A. in Corporate Finance from the University of Chicago in 1993 and his J.D. from the University of Pennsylvania in 1996. David Cho received his B.A. from the University of California at Los Angeles in 1992 and his J.D. from Chicago-Kent College of Law in 1995.

Joining Lee and Cho is associate Una Cho. Cho received her B.A. from Yonsei University in 1994, her M.A. in Communications from Syracuse University in 1996 and her J.D. from Columbia Law School in 2002. All are fluent in English and Korean.

08-07-2007

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