Law Firm News

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Law Firm News

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Milbank, Tweed, Hadley & McCloy LLP

Milbank Represents Leaders in $500 Million Debt Recapitalization For Brazilian Telecom GVT
In one of the largest Latin American telecom financings in the past year, Brazilian telecoms operator Global Village Telecom (GVT) has completed a $500 million debt recapitalization. The international law firm Milbank, Tweed, Hadley & McCloy LLP, led by partners Glenn S. Gerstell and Debra Alligood White, represented the lenders with respect to the recapitalization.

Commenting on the deal, Ms. White noted, “This transaction presented a number of special challenges because of the diversity of the creditor group and the complexity of the exchange structure. Nevertheless the parties were able to develop a structure that created a win-win situation, providing the company with greater flexibility and our clients with a significant stake in the company's future growth.""

In addition to Mr. Gerstell and Ms. White, the Milbank team representing the lenders included associates Gavin W. McKeon and Jeanette Cruz.

About the Transaction:

The recapitalization involved an exchange of vendor financing notes for a combination of senior secured notes and convertible subordinated pay-in-kind notes. The lenders were represented as to US law by Milbank, who negotiated and drafted the key financing documents, and as to Brazilian law by Souza, Cescon Avedissian, Barrieu e Flesch and as to Dutch and Netherlands Antilles law by DeBrauw Blackstone Westbroek. The Company was represented by Allen & Overy LLP as to US, Dutch and Netherlands Antilles law and by Pinheiro Neto Advogados as to Brazilian law.

About GVT:

Established in 1999, GVT is a fast growing facilities-based telecommunications and Internet solutions provider in Brazil. GVT offers a diversified portfolio of innovative products and advanced solutions for the conventional telephony, corporate data, broadband and Internet services, and VOiP markets. The company is controlled by Magnum Telecom and the IDB Group.

07-24-2006

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McKenna Long & Aldridge LLP

DOJ Fraud Section Still Searching For New Chief
The job of chief of the Fraud Section of the Justice Department’s Criminal Division is one of the highest posts to which a career white-collar prosecutor can aspire. That makes it all the more mysterious that the division is taking so long to name a permanent chief to replace Joshua Hochberg, who retired from the government to join McKenna Long & Aldridge last September.

Christopher Wray, the former assistant attorney general of the Criminal Division, began the search to replace Hochberg more than a year ago. But Wray, who left the DOJ in the spring of 2005 for King & Spalding, aborted that search in order to allow his replacement, Alice Fisher, to name her own person for the plum position.

After Hochberg departed, Paul Pelletier, a veteran federal prosecutor from Miami, was named the section’s acting chief. But 10 months later, Pelletier hasn’t been given the permanent job, and it remains possible that Fisher could tap someone from outside Justice for the post.

The vacancy comes at a time when the number of new white-collar crime cases opened by the feds has declined significantly. But the DOJ’s leadership doesn’t seem to be in a hurry.

""As long as you’ve got someone doing the job, I don’t know that there would be a rush,"" says DOJ spokesman Bryan Sierra. ""They’re going to look for the right person for this spot.

07-24-2006

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King & Spalding

King & Spalding Continues Expansion of its FDA/Healthcare Practice With the Addition of Senior Advisors Beverly Lorell, M.D., and Kay Scanlan
In the continuing expansion of its FDA/Healthcare practice, King & Spalding, a leading international law firm, announced today the addition of two senior advisors whose special expertise enhances the firm's practice serving pharmaceutical, medical device, biologics and food manufacturers on FDA and healthcare regulatory issues.

Beverly H. Lorell, M.D., who recently stepped down as vice president and Chief Medical and Technology Officer of Guidant Corporation, will specialize in the area of clinical trial design of studies for drugs, devices and biologics; review of pre-market submissions; recalls; and assessment of matters involving a risk to health. M. Kay Scanlan, an attorney, will specialize in reimbursement consulting primarily for the pharmaceutical and biotech industries. Both Dr. Lorell and Scanlan are based in the firm's Washington, D.C. office.

The arrival of Lorell and Scanlan brings to six the total number of lawyers and professionals the firm has added in the past year to its 27-member FDA/Healthcare practice.

""For our pharmaceutical, medical device and biotech clients, getting top-notch counsel at every stage of the product life cycle is key,"" said John Bentivoglio, co-head of King & Spalding's FDA/Healthcare practice. ""Bev and Kay add another dimension in our ability to do that by bringing us their special skills in FDA medical, regulatory and reimbursement issues.""

Dr. Lorell, an interventional cardiologist and former professor of medicine at Harvard Medical School, was a member of the Food and Drug Administration's Cardiovascular and Renal Drugs Advisory Committee. She received her medical degree from Stanford University.

Scanlan formerly was a reimbursement consultant representing biotechnology, drug and medical device manufacturers. She was also an adjunct professor of law at her alma mater, the University of Maryland Law School, where she taught Medicare and Medicaid law, and previously served in the Office of General Counsel for CMS and as director of reimbursement strategy at Biogen Idec.

King & Spalding's Washington, D.C.-based FDA/Healthcare group comprises 27 attorneys and non-attorney professionals who focus on assisting drug, device and biologics manufacturers at every stage of the product life cycle. The group's lawyers have expertise on issues ranging from clinical development, to FDA approval, CMA coverage and reimbursement, post-market advertising and promotion and healthcare regulatory compliance issues.

King & Spalding's Washington, D.C., office employs more than 160 attorneys and non-lawyer professionals, including government relations specialists, trade consultants and policy advisors. These lawyers and professionals practice in a broad range of areas including antitrust, class- action and mass tort litigation, commercial disputes, corporate finance, corporate governance, environmental, FDA/healthcare, public policy and government advocacy, government investigations, international trade, mergers and acquisitions and tax, among others.

07-24-2006

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Kennedy Covington Lobdell & Hickman, L.L.P.

Joseph B.C. Kluttz of Charlotte Named N.C. Museum of Art Foundation Board President
The North Carolina Museum of Art Foundation Board recently named Joseph B.C. Kluttz of Charlotte, N.C., as its new president.

Kluttz is a partner and chair of the financial services department of Kennedy Covington law firm in Charlotte. Prior to attending law school, Kluttz was a staff member of the United States Senate Subcommittee on Constitutional Rights. He also was a member and former chair of the Charlotte-Mecklenburg Historic Landmarks Commission. He sits on the board of directors of the North Carolina Citizens for Business and Industry.

Kluttz joined the Museum Foundation Board in 2002.
""I am honored to serve as Chair of the Foundation, and see the appointment of a Charlottean as affirmation of the Museum's commitment to the continued elevation of its profile as the North Carolina Museum of Art,” said Kluttz. “These are extraordinarily exciting times for the Museum, with a major expansion and national exhibitions like Monet in Normandy on the near horizon. I look forward to working with our energetic Board and Larry Wheeler and his committed staff to meet the challenge of these great opportunities.""

As Foundation Board president, Kluttz serves a one-year term and acts as Chair of the Board of Directors and as principle executive officer, supervising and controlling all of the business and affairs of the Foundation.

“Joe is a strong and ethical leader, and I look forward to working with him as he guides the Foundation Board,” said Museum Director Lawrence J. Wheeler. “The next few years will be crucial for this organization, but in Joe’s capable hands I have no doubt we’ll meet our goals.”

The North Carolina Museum of Art Foundation is a private entity, created to foster and promote the growth, progress and general welfare of the Museum, and to solicit, receive and administer gifts and donations to the Museum.

07-24-2006

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Jones Vargas

Jones Vargas Welcomes New Associate.
Tyrus “Ty” Cobb has joined Jones Vargas as an associate in their Reno office, where he will practice primarily in the litigation department.

Prior to joining Jones Vargas, Mr. Cobb served as Aide to the Deputy Secretary of Defense and before this as a defense analyst for the Marine Corps Headquarters inside the Pentagon.

Based in Baghdad from December 2003 to June 2004, Mr. Cobb served dual roles as the national regions coordinator for democratic initiatives and as head of the Baghdad Region Civic Education Program. This led to the first free elections in Iraqi history.

Previous to serving in Iraq, Mr. Cobb was a law clerk to Second Judicial District Judge Steven Elliott at the Washoe County Courthouse. While in Reno, he co-founded and worked as Executive Director of United Nevada, a diverse group of community leaders dedicated to positive change within the Truckee Meadows.

Mr. Cobb holds a Juris Doctor from the University of Pacific McGeorge School of Law located in Sacramento, California. He earned his Bachelor of Arts degree in Political Science from James Madison University located in Harrisonburg, Virginia.

Jones Vargas represents local, national, and international clients in business, litigation, government relations, gaming, corporate, municipal finance, real estate, bankruptcy, estate and probate, tax, zoning, health care and domestic matters. In certain areas of practice, such as complex financing transactions and multi-state or multi-district litigation, Jones Vargas is one of the most experienced firms in Nevada. The law firm offers a full range of services to all clients, from handling everyday matters and preventive counseling to dealing with difficult, complex transactions and litigation. For more information, please visit www.jonesvargas.com.

07-24-2006

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Thacher Proffitt & Wood LLP

Thacher Proffitt Announces Two New Counsel, Derek Woodhouse and Tony Girolami
The Lawyer mentioned in their ""People"" section our new counsel in Mexico City, Derek Woodhouse and Tony Girolami.

Associated Lawyers
J. Anthony Girolami
Derek M. Woodhouse

07-24-2006

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Shearman & Sterling LLP

Advanced Micro Devices Purchases ATI Technologies for $5.4 Billion
Advanced Micro Devices, Inc. (AMD), the world's second-biggest maker of microprocessors, announced it will purchase ATI Technologies Inc. (ATI), a leader in the supply of graphics, video and multimedia solutions, for approximately $5.4 billion. Shearman & Sterling LLP is acting as legal advisor to Toronto-based ATI in the transaction.

By combining AMD’s technology leadership in microprocessors with ATI’s strengths in graphics, chipsets and consumer electronics, the deal will create a processing powerhouse. Under the terms of the agreement, AMD will purchase all outstanding shares of ATI common stock through a combination of $4.2 billion in cash and 57 million shares of AMD common stock. The deal is expected to be completed by the fourth quarter of 2006 and is subject to regulatory approval.

Christopher J. Cummings (Mergers & Acquisitions/Capital Markets) and Adam M. Givertz (Mergers & Acquisitions/Capital Markets) of Shearman & Sterling's Toronto office led a team of attorneys from the San Francisco, Menlo Park, New York and London offices that included Ann Woo (Mergers & Acquisitions), Christopher Dumper (Mergers & Acquisitions), Jeremy Gruschcow (Mergers & Acquisitions/Capital Markets), Laurence Crouch (Tax), Christy Lai (Intellectual Property), Scott Lyne (Intellectual Property), Tina Patel (Intellectual Property), Beau Buffier (Antitrust), and Matthew Readings (Antitrust)

07-24-2006

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