Law Firm News

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Law Firm News

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Goodwin Procter, LLP

Boston Millennia Partners Secures $13.1 Million P.E. Financing
Boston Millennia Partners announced the closing of a $13.1 million Series A preferred stock financing of Histogenics Corporation. Histogenics focuses on the repair of articular cartilage damage utilizing advancements in cell biology, tissue culture, engineering and materials science to affect tissue repair. Millennia Partners led the financing round, with additional participation by Foundation Medical Partners and Stryker Corporation.

Goodwin Procter partner Mitchell Bloom and associate Jaime Genua represented Boston Millennia Partners in this transaction.

08-22-2006

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Farrell Fritz, P.C.

Jessica Nagle Martin Appointed to Suffolk County Coalition Against Domestic Violence Governing Board
Jessica Nagle Martin, associate in the Commercial Litigation and Creditors’ Rights and Bankruptcy departments at Farrell Fritz, P.C. in Uniondale, was recently appointed to the Governing Board of the Suffolk County Coalition Against Domestic Violence.

The Suffolk County Coalition Against Domestic Violence (SCCADV) is a community service organization assisting victims of domestic violence by providing safe houses such as Safe Harbor Shelter. The SCCADV also offers bi-lingual support and prevention services including 24 hour hotline service, the Precinct Outreach Project, which places a domestic violence advocate in every Suffolk County Police Precinct, courtroom advocacy, legal assistance employment advocacy, and community education and counseling services for adults and children.

Ms. Martin is a member of the New York State and Nassau County Bar Associations. She received her Juris Doctor, cum laude, from Boston University School of Law.

08-22-2006

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Ashurst LLP

Ashurst advised Bear, Stearns International on €479 million CLO
Ashurst advised Bear, Stearns International in its capacity as joint arranger of a collateralised loan obligation (CLO) by Dryden XIV - Euro CLO 2006 plc, a public company with limited liability incorporated under Irish law.

The issue is secured by a portfolio of senior loans, mezzanine obligations, high yield bonds and structured finance obligations. The portfolio is managed by Prudential Investment Management Inc., acting under its trading name, Pramerica Investment Management.

The team from Ashurst's securities and structured finance group comprised partner Michael Logie, assisted by Sandra Reddy, Adeline Lagneau, Philippa Michie and Caroline Schurmann. Partner Ian Johnson and solicitor Paul Miller advised on tax aspects of the transaction.

McKee Nelson (Michele Moss and Tae Jeon) acted as US counsel to the portfolio manager. Clifford Chance (Neil Hamilton and Helen Smyth) advised the collateral manager, while Linklaters (Jasper Evans and Eliot Solarz) advised the trustee.

08-22-2006

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Kummer, Kaempfer, Bonner & Renshaw, Attorneys At Law

REX MILLER NAMED CHIEF OPERATING OFFICER OF STATEWIDE LAW FIRM KUMMER KAEMPFER BONNER RENSHAW & FERRARIO
Michael J. Bonner, managing partner of Kummer Kaempfer Bonner Renshaw & Ferrario, has named Rex Miller to the position of chief operating officer. In this role, he will be responsible for overseeing the firm’s strategic planning and business operations, including legal administration, information technology, finance and marketing for its four locations statewide.

Miller, a Las Vegas native, brings over 25 years of diverse experience as a certified public accountant, controller, chief financial officer, chief executive officer, consultant and business owner. He graduated with distinction from the University of Nevada, Las Vegas in 1979 with a Bachelor of Science in business administration and is a lifetime member of the UNLV Alumni Association. He is a member of the American Institute of Certified Public Accountants and the Nevada Society of Certified Public Accountants. Miller is also a member of the Las Vegas Chamber of Commerce and Las Vegas Art Museum through The Great Frame Up, a local franchised business he owns.

Kummer Kaempfer is a prominent force in Nevada, serving local, regional, national and international clients in the real estate development, hospitality, gaming, manufacturing, service, high-technology, and energy and utilities industries. Founded in 1994, Kummer Kaempfer is one of Nevada’s largest law firms, specializing in complex corporate transactions, federal and state securities matters, commercial litigation, zoning and land use and regulatory law. The firm also has an established legislative and government affairs practice.

With offices in Las Vegas, Reno, and Carson City, Kummer Kaempfer’s lawyers provide counsel to top corporations, business owners, corporate executives and individuals. Kummer Kaempfer is the Las Vegas member of Meritas, an affiliation of outstanding business law firms that serve international customers worldwide. The firm’s attorneys are routinely rated among the best corporate, mergers and acquisitions, real estate and litigation lawyers in Nevada, including high-ranking recognition by the prestigious “Chambers USA – America’s Leading Business Lawyers” since its inception in 2003.

08-22-2006

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Greenebaum Doll & McDonald PLLC

Attorney Patrick R. Northam named to Lawdragon’s List of 500 New Stars, New Worlds
Greenebaum Doll & McDonald PLLC is proud to announce that Patrick R. Northam, a member of the firm’s Corporate & Commercial Practice Group and resident in its Louisville office, has been named by Lawdragon Magazine as one of its “500 New Stars, New Worlds” for 2006. This annual selection of 500 lawyers is made from among all United States legal practitioners, and is published in the Summer 2006 issue of Lawdragon Magazine. It can also be found on the magazine’s website -- www.lawdragon.com.

The Lawdragon 500 New Stars, New World listing features up-and-coming talent in the U.S. legal profession, as well as seasoned attorneys in cutting-edge practice areas. Less than .01 percent of all attorneys in the U.S. are named a member of the Lawdragon 500, based on a combination of online balloting and independent research.

Northam was one of only three Kentucky lawyers selected for this honor in 2006. He was recognized by Lawdragon Magazine for his accomplishments in the area of corporate mergers and acquisitions. Northam is co-chair of Greenebaum’s Energy Team, and is also a member of the firm’s Management Committee.

This achievement adds to the list of industry honors received by Northam, including his selection by Chambers and Partners, an internationally renowned legal publisher and ranking organization, as one of America’s Leading Business Lawyers in 2003, 2004, 2005 and 2006, including his ranking as among the top ten Kentucky lawyers in three separate disciplines – Corporate Law, Utilities Law and Natural Resources Law.

08-22-2006

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Gide, Loyrette & Nouel, PC

Gide Loyrette Nouel Hanoi advises Vivendi and European banks on the Hanoi Hilton Hotel deal (USD 42 million)
The Vietnam office of Gide Loyrette Nouel advised Vivendi and a consortium of European banks on the transfer of all of their equity and loan interests in the Hanoi Hilton Hotel in Vietnam to VinaCapital Investment Fund.

The Firm assisted the sellers in the drafting, negotiating, finalising and closing the Loan Transfer and Share Purchase Agreement for a combined amount of USD 42 million with VinaCapital.

The GLN Vietnam team was headed by Nicolas Audier (partner).

08-22-2006

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Kirkpatrick & Lockhart Preston Gates Ellis LLP

Court of Appeals’ Hydropower Decision May Influence FERC Relicensing Process
On August 22, the D.C. Circuit Court of Appeals released a decision in the City of Tacoma’s Cushman Dam relicensing litigation that may have broad impacts on the Federal Energy Regulatory Commission’s (""FERC’s"") hydropower relicensing process. In City of Tacoma v. FERC, No. 05-1054, Tacoma and the Skokomish Tribe sought judicial review of several provisions of FERC’s 1998 Cushman Dam license. The Cushman Dam project includes a portion of the Skokomish Tribe’s reservation lands.

An aspect of the decision that will grab headlines is the holding that FERC can effectively shut a project down through imposition of expensive license conditions. Tacoma had contended the license condition that requires a 240 cfs minimum flow into the North Fork of the Skokomish River would make the Cushman project uneconomic. ""[W]e find persuasive FERC’s argument that Congress implicitly extended to FERC the power to shut down projects either directly, by denying a new license, or indirectly, by imposing reasonable and necessary conditions that cause the licensee to reject the new license."" The court did not resolve, however, whether such conditions would force a licensee into costly decommissioning proceedings at FERC or whether a licensee could simply abandon a project under those circumstances. That fight was left for another day.

Several other sections of the decision may impact the substance and timing of FERC’s relicensing process for many hydropower projects around the country that are in the midst of relicensing.

The decision addressed the extent of the authority of federal agencies such as the Forest Service and Department of Interior to condition FERC hydropower licenses under Section 4(e) of the Federal Power Act (""FPA""). The Court held that the agencies may ""impose license conditions based on the indirect effects a project has on [federal lands] . . . provided that at least ‘some’ or ‘any’ part of the licensed facilities is on [federal] land."" In the case of Cushman, only the project’s access road and a transmission line are located on tribal reservation land held in trust by the federal government. Nevertheless, the D.C. Circuit held that ""the Secretary of Interior is not limited in this proceeding to mitigating the impact the access road and the transmission line will have on the reservation. Instead, he may impose license conditions that are designed to mitigate the effect of the project on the Skokomish River to the extent doing so is reasonably related to protecting the reservation and the Tribe.""

The decision also calls into question FERC’s ability to enforce deadlines on other federal agencies in the relicensing process, including perhaps the strict timelines of FERC’s new Integrated Licensing Process (""ILP""). During the Cushman relicensing, the Department of Interior filed its proposed FPA Section 4(e) license conditions with FERC after expiration of the 60-day timeframe set by FERC regulations. The D.C. Circuit held that FERC erred by rejecting Interior’s conditions as untimely. ""FERC exceeded its statutory authority by placing a strict time restriction on responsibilities Congress delegated to other federal agencies [in the FPA]. . . . FERC has no authority to impose a short 60-day limitation unilaterally, thereby effectively stripping Interior of its statutorily delegated authority.""

Another part of the decision relates to FERC’s compliance with the Endangered Species Act (""ESA""). The decision confirms the importance of biological opinions issued pursuant to the ESA by the National Marine Fisheries Service and U.S. Fish and Wildlife Service, reiterating that FERC ignores the findings of these opinions at its peril. However, the Court also suggests that FERC possesses an obligation to ensure that biological opinions contain the best available information prior to their wholesale adoption in a FERC license. The decision similarly suggests that FERC must ensure state compliance with the statutory requirements of Clean Water Act (""CWA"") prior to FERC acting on state-issued 401 certification conditions.

Questions raised by the opinion regarding the scope of agency conditioning authority, the validity of deadlines in relicensing, the scope of environmental analysis, and a licensee’s obligations upon receipt of license conditions that make a project uneconomic will likely be addressed not only on remand of the Cushman license, but in many other licensing proceedings and court decisions for months and years to come.

08-22-2006

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