Law Firm News

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Law Firm News

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Kronish, Lieb, Weiner & Hellman, L.L.P.

Cooley Bankruptcy Team Secures Multi-Million Dollar Settlement for Unsecured Creditors in Retail Bankruptcy Dispute
Cooley Godward Kronish LLP’s bankruptcy and restructuring practice has prevailed for the unsecured creditors of Norstan’s, a women’s budget retailer, in obtaining the desired settlement of a $67 million fraudulent transfer lawsuit arising out of a $53 million leveraged buyout and an earlier distribution of $14 million to insider shareholders.

The ruling approving the settlement was issued in the U.S. Bankruptcy Court’s Eastern District of New York on July 31 by Chief U.S. Bankruptcy Judge Carla E. Craig. The lawsuit, on behalf of the unsecured creditors, asserted that in the months before declaring bankruptcy, Norstan’s made distributions of $14 million to the company shareholders and thereafter leveraged its own stock to transfer $53 million to those same shareholders.

“We are pleased with the court’s approval today of the settlement supported by the Official Committee of Unsecured Creditors,� said Cooley partner Ronald R. Sussman. “The transfers associated with Norstan’s leveraged buyout were constructively fraudulent and today the unsecured creditors received a fair settlement for the damages they sustained.� In addition to Sussman, Cooley Partner Lawrence C. Gottlieb and Associates Jeffrey L. Cohen, Seth Van Aalten and Michael Klein advised on the matter.

07-31-2007

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Weil, Gotshal & Manges, LLP

Weil's London Office Nominated for Several Awards by Financial News
Weil Gotshal's London office has been nominated for several awards by Financial News. The office has been shortlisted for: Law Firm of the Year, Private Equity Firm of the year, and Partner of the Year: Marco Compagnoni. The awards will be presented in November.

07-31-2007

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Goehring, Rutter & Boehm, Attorney At Law

The school and municipal law attorneys of Goehring, Rutter & Boehm win ruling for Collier Township in property and tax dispute.
The school and municipal law attorneys of Goehring, Rutter & Boehm win ruling for Collier Township in property and tax dispute.

In preparing its block and lot map, the Allegheny County Controller found that certain parcels, thought to be located in Collier Township, are actually within Robinson Township. Robinson Township and Montour School District sued Collier Township and Chartiers Valley School District, seeking recovery of various taxes and fees attributable to these properties paid to Collier Township and the school district in the past.

GRB attorneys argued that Collier Township provided all municipal services to these properties over the years and was therefore rightly paid taxes and fees during that time. The Court agreed with the Township’s position, holding that Robinson and Montour were not entitled to recover taxes or fees paid prior to the implementation to the block and lot system in Collier.

07-31-2007

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Gibson & Behman, P.C.

G&B’s Vermont office wins “zero liability� judgment in Vermont construction case
Kevin O’Neill of G&B’s New Hampshire office recently won defendant’s verdict for Hawksworth, Bibb Incorporated, a structural engineering firm located in Williston, VT.

Judge Development, a commercial real estate firm, had sought an $824,000 demand against Hawksworth, Bibb in connection with a 1996 construction project in the Greater Burlington, Vermont area.

At issue was a two-level parking deck adjacent to a Barnes & Noble book store built by Judge Development. Hawksworth, Bibb was retained by Judge Development to prepare structural design specifications for the parking deck. Hawksworth, Bibb determined that the upper level of the parking deck called for an asphalt surface on top of concrete. Drawings prepared by Hawksworth, Bibb did not call for a water-resistant barrier between the concrete and asphalt layers.

In 2002, six years after it was built, the upper level of the parking deck showed premature signs of deterioration. A consultant retained by Judge Development determined that a protective barrier should have been placed between the concrete and asphalt layers, in turn precipitating the commercial development firm’s suit against Hawksworth, Bibb for $824,000 to substantially renovate the parking deck.

Chemical analysis experts retained by G&B testified during the three-day trial that the lack of a barrier between the concrete and asphalt was not cause for the deck’s early deterioration. It was subsequently determined that concrete poured during the 1996 project contained an excess of water, thereby causing the material to break down prematurely.

In less than one hour, jurors in the Superior Court of Chittenden County, Vermont came back with a defendant’s verdict in the case brought against Hawksworth, Bibb by Judge Development.

07-31-2007

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Magavern Magavern Grimm, LLP

Sean MacKenzie joins Magavern Magavern Grimm
The law firm of Magavern Magavern Grimm LLP has hired Sean J. MacKenzie as an associate, based in the firm's Niagara Falls, New York office. He concentrates his practice in corporate law, litigation, and appeals. He is a member of the Erie County and New York State Bar Associations.

MacKenzie's legal experience includes having served as director and vice president of Atomic Wash Enterprises, a startup water treatment company in San Diego, where he helped secure a new technology patent for the corporation and counseled the business from its inception. He also worked with the international law firm Piper Rudnick Gray Cary, LLP, in their San Diego branch, where he focused on patent and copyright enforcement for an international computer company.

MacKenzie, an alumnus of State University College at Fredonia, received a juris doctorate degree from University of Buffalo Law School and a master's degree in business administration from U.B.'s Jacobs School of Management. He is a resident of Lewiston, New York.

07-30-2007

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Cleary, Gottlieb, Steen & Hamilton, L.L.P.

Fortress in Reliance Telecom Investment
Cleary Gottlieb represented Fortress Investment Group LLC in its acquisition of a minority stake in Reliance Telecom Infrastructure Limited from Reliance Communications Limited. Fortress’ co-investors included a number of leading funds across the United States, Europe and Asia. The deal signed on July 30.

Reliance Telecom, a part of India’s Reliance ADA Group, is worth approximately $6.75 billion. It builds, owns and operates wireless telecommunications towers and related assets, generating revenue by sharing infrastructure with wireless telecom operators through long-term contracts.

07-30-2007

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Clifton, Budd & DeMaria, LLP

COURT TAKES CASE FROM JURY AND DISMISSES PLAINTIFF'S DISCRIMINATION AND BREACH OF CONTRACT CLAIMS
Firm partner, George F. Brenlla, and Firm associate, Diane M. Pietraszewski, persuaded the United States District Court for the Southern District of New York to dismiss all of Plaintiff's discrimination and breach of contract claims without sending the case to the jury. After successfully moving to dismiss Plaintiff's breach of contract claims at the beginning of the trial, Mr. Brenlla and Ms. Pietraszewski convinced the Court mid-trial that the Plaintiff failed to establish any wrongdoing by one of the Firm's not-for-profit clients. The Court dismissed the complaint in its entirety.

07-30-2007

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