Law Firm News

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Cadwalader, Wickersham & Taft LLP

Low-Income New York Tenants Can Remain in Their Homes, Thanks to Cadwalader's Legal Work
Low-income tenants in New York came out on the winning side of a New York Court of Appeals ruling that will affect more than 100,000 families in the New York City metropolitan area. Working pro bono with The Legal Aid Society, Cadwalader Wickersham & Taft LLP drafted an amicus curiae brief with AARP (formerly known as the American Association of Retired Persons) that helped persuade the New York Court of Appeals to rule for tenants in Rosario v. Diagonal Realty LLC.

The case involved participation in the federal Section 8 Housing Choice Voucher Program, which provides rent subsidies in the form of vouchers to low-income families, enabling them to obtain affordable, safe, decent, and stable housing. The landlord argued that Section 8, which allows landlords to opt out of the program at the end of the term of a lease, preempts New York’s rent stabilization law and local law. Cadwalader’s brief (written by partner Harry Cohen, special counsel Stacey Lara, and associate Ryan Andreoli) argued that this was a misreading of the federal law, and noted explicit language in the law respecting the rights of states and localities to enact tenant laws more protective than the federal statute (such as New York's Rent Stabilization Law and the anti-discrimination provision of the J-51 tax law). The brief argued that landlords are not permitted to opt-out of accepting Section 8 vouchers from existing rentstabilized tenants.

On July 2, 2007, the Court of Appeals unanimously affirmed the decision of the Appellate Division, First Department, holding that "it was not the intent of Congress, when it ended the socalled endless lease rule, to remove state and local protections afforded to Section 8 recipients."

AARP was particularly concerned with this dispute because more than 325,000 of the 1.8 million households that currently receive vouchers under the Section 8 voucher program are headed by a person who is 62 years of age or older. An adverse ruling would have forced older Contacts: Americans into making a difficult choice between paying market rates out of limited and fixed incomes, or being institutionalized.

“I am exceptionally proud of Harry, Stacey, and Ryan, and the efforts they put into this case� said Robert O. Link, Jr., Cadwalader’s Chairman and Managing Partner. “Their fine work illustrates the firm’s commitment to use its collective knowledge and resources for the greater good. We feel privileged to be able to help deserving people in need and serve our community.�

07-30-2007

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Greenberg Traurig, LLP

Greenberg Traurig Shareholder Luis Salazar Appointed Consumer Privacy Ombudsman
Greenberg Traurig Shareholder Luis Salazar has been appointed by the U.S. Department of Justice as the consumer privacy ombudsman in the Tweeter Audio/Sound Advice Chapter 11 reorganization. Salazar is only the fifth person nationwide to hold such a position. The position was created as a result of “The Privacy Policy Enforcement in Bankruptcy Act (‘PPEBA’)� (Bankruptcy Code Sections 363(b)(1) and 332), a law which Salazar drafted in 2001.

The PPEBA, which was passed by Congress as part of the recent Bankruptcy Code amendments, is the first national law that specifically enforces commercial privacy policies, limits the sale of private consumer data, and creates a consumer privacy ombudsman to advise bankruptcy courts in enforcing privacy laws and restrictions. In his role as consumer privacy ombudsman, Salazar advocated to protect consumers' private information by requiring the purchaser of Tweeter/Sound Advice to comply with the company’s existing privacy policy, while also giving consumers notice of the transfer of their data and an opportunity to opt-out of the transfer.

“Consumers are rightly concerned about the privacy of their personal information, and their exposure to unscrupulous operators that will exploit that information,� Salazar said. “PPEBA was designed to protect consumers when their information is perhaps most at risk - when a business is in financial trouble. It is really gratifying to see PPEBA actually working and to protect consumer privacy as an ombudsman.�

Salazar focuses his practice on corporate counseling and crisis management, data privacy and security laws and regulation and startups and early stage businesses. Salazar is widely published in the areas of crisis management, data privacy and security law, and bankruptcy. He is a noted authority on the fiduciary duties of directors and officers and defending management against Deepening Insolvency claims. A seasoned trial attorney, Salazar has tried over 100 discrete matters in federal and state courts throughout the country, on behalf of plaintiffs, defendants, debtors and creditors in a wide variety of actions.

07-30-2007

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Baker & McKenzie, L.L.P.

Baker & McKenzie Advises China South City Holdings on its US$125 Million Convertible Notes Issue
Baker & McKenzie’s securities team in Hong Kong recently advised China South City Holdings Limited (“China South City�) on its US$125 million secured convertible notes issue due 2012 (the “Notes�) to professional Investors. The Notes will be convertible into fully paid ordinary shares of China South City Holdings. Merrill Lynch acted as the placing agent of the Notes offering.

China South City, a Hong Kong incorporated holding company, is engaged in the development and management of China South International Industrial Materials City, located at Pinghu, Shenzhen in the Greater Pearl River Delta region. China South City is the largest trade center in China, in terms of gross floor area, that combines trade centers for industrial materials of five major industries, namely, textile and clothing materials; leather and accessories; electronics and accessories; printing, paper products and packaging materials; and metals, chemicals and plastic materials. It is expected to be the largest industrial materials trade center in the world upon completion of the second phase.

China South City provides a wholesale trading platform that brings together buyers and sellers of a comprehensive range of industrial materials and complements the global logistics supply chain in different manufacturing industries by having in one location trading and exhibition centers for suppliers.

The Baker & McKenzie team was led by securities partner Elsa Chan.

07-30-2007

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Baker & McKenzie, L.L.P.

Paul J. McNulty Joins International Law Firm Baker & McKenzie LLP
Baker & McKenzie today announced that U.S. Deputy Attorney General Paul J. McNulty will join its Washington, D.C. office as a Partner. McNulty, author of the controlling statement on federal prosecution of business organizations - the "McNulty Memorandum" - will play a key leadership role in the Firm's North American Litigation - Business Crimes and Investigations, and Corporate Compliance and Risk Management practices. He will also work closely with the Firm's global Dispute Resolution practice, which has more than 700 lawyers around the world.

"Paul brings a wealth of unique experience and will add substantial value to our global capabilities in handling corporate compliance and risk management matters," said Baker & McKenzie Chairman John Conroy. "This is an increasingly critical area for our domestic and multinational clients who must ensure global compliance across a broad array of frequently changing laws and ethical requirements."

"His addition advances a key strategic objective to continue deepening the Firm's diverse and sophisticated corporate criminal and compliance practices both in the United States and globally," Conroy continued. "We are thrilled that Paul has chosen to bring his extraordinary knowledge to our growing litigation and compliance team."

A Preeminent Business Crimes and Investigations Practice
McNulty joins a broad global corporate compliance team with longstanding experience representing companies and senior management in internal compliance investigations and government enforcement actions.

Baker & McKenzie attorneys advise corporate clients on a range of compliance matters, offering comprehensive risk minimization strategies, internal investigations, development of creative solutions to potential problems and, when necessary, vigorous defense of corporate criminal and related civil litigation in a complex U.S. and international legal environment.

"Following my decision to leave the DOJ in May, I was approached by many law firms to discuss how I could use my background to broaden and deepen their practices," said McNulty. "At the end of the day, I decided Baker & McKenzie's platform was ideally suited to the strengths and experience I have to offer at this point in my career. The Firm is extremely well respected, has a leading international presence, and a strategy dedicated to helping clients achieve their legal and business objectives around the globe."

Extensive Corporate Compliance Experience
McNulty has spent nearly his entire career in public service, with more than two decades of high-level positions in federal and state government. Since 2005, he has served as U.S. Deputy Attorney General, the second highest-ranking official in the Department of Justice. In that role, McNulty also chaired the President's Corporate Fraud Task Force, created in July 2002, where he oversaw several high-profile corporate fraud prosecutions. The Task Force has been successful in combating corporate fraud and restoring public and investor confidence in America's corporations. He also launched a national initiative to crackdown on fraud in government contracting.

In December 2006, McNulty authored the "McNulty Memorandum," which is the controlling statement of principles relating to federal prosecution of business organizations. The McNulty Memorandum is an essential element in determining how a corporation should respond to allegations of criminal wrongdoing.

"We are extremely pleased to attract a talent of Paul's caliber to Baker & McKenzie," said David P. Hackett, North American Managing Partner. "Paul's experience providing strategic advice and counsel to leaders at the highest levels of federal and state government – including four Attorneys General and many high-ranking Congressional leaders – will be a valuable resource to clients.

Three days after the September 11, 2001 attacks, McNulty was appointed U.S. Attorney for the Eastern District of Virginia, a position he held for nearly five years. In that role, he was responsible for the prosecution of terrorism, gun violence, drug trafficking, and corporate fraud. He is most noted for successfully prosecuting many of the nation's high-profile cases in the War on Terror and homeland security, including those against John Walker Lindh, Abu Ali and Zacarias Moussaoui. As Deputy Attorney General, he oversaw FBI operations and played a leadership role on President Bush’s national security team. McNulty's experiences in this area will further deepen Baker & McKenzie's growing Homeland Security practice.

Before becoming U.S. Attorney, McNulty directed President Bush's transition team for the Department of Justice and then served as Principal Associate Deputy Attorney General. In the prior Bush Administration, McNulty was the Justice Department's director of policy and its chief spokesman.

McNulty has 11 years of experience in the United States Congress. He was Chief Counsel and Director of Legislative Operations for the Majority Leader of the U.S. House of Representatives. For eight years, he served with the House Judiciary Committee, including 4 ½ years as Chief Counsel to the House Subcommittee on Crime. During that time, he was a principal draftsman of many anti-terrorism, drug control, firearms and anti-fraud statutes, and organized many oversight hearings.

"Paul led the way in shaping Department of Justice policies and practices with regard to the investigation and prosecution of corporate crime," said Thomas Egan, managing partner of Baker & McKenzie's Washington, D.C. office. "Successful advocacy in complex corporate litigation matters demands vast experience and insight - Paul brings invaluable knowledge that will enable us to better serve our clients. We are very excited to have him on our team."

07-30-2007

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Baker & McKenzie, L.L.P.

Baker & McKenzie Advises Matrix Holdings on its Acquisition of All of the Equity Interests of Funrise Group
Baker & McKenzie's mergers and acquisitions team in Hong Kong recently acted for Hong Kong-listed Matrix Holdings Limited ("Matrix") on its acquisition of all of the equity interests of The Funrise Group for a consideration of US$23 million, subject to certain adjustments. Matrix will indirectly hold 100% of the equity of the Funrise Group through Maxibase International Limited, an indirect wholly-owned subsidiary of Matrix.

Matrix is an investment holding company and is mainly engaged in the manufacturing and trading of gift items, novelties and infant and pre-school children toys. It operates four plants, two in Danang City, Vietnam; one in Zhongshan, and one in Shenzen, the People's Republic of China. The Funrise Group is principally engaged in the design, sales and distribution of quality, innovative toys under proprietary and licensed brands. It sources substantially all of its products from various original equipment manufacturers in Asia.

The acquisition will enable Matrix to expand considerably its product range and design capability as well as its revenue source and customer base.

The Baker & McKenzie team, led by corporate partner Lawrence Lee in Hong Kong, acted as deal counsel on this transaction, and included associates Marc-Alexandre Poirier, Christina Lee and Kenneth Wong. The team was also supported by lawyers in the firm's US offices.

Quam Capital Limited acted as financial adviser to Matrix Holdings Limited.

07-30-2007

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Morgan Lewis & Bockius LLP

Morgan Lewis Builds Funds and Tax Capability with Two Partner Appointments as London Office Continues Expansion
Leading international law firm Morgan Lewis is pleased to announce the appointment of Saloni Joshi as Funds Partner and Kate Habershon as a Tax Partner as the firm continues the strategic growth of its Business and Finance practice in the London office. The new partners join as Morgan Lewis has moved to new City offices to facilitate its projected growth.

Saloni Joshi joins the firm from the London office of Debevoise & Plimpton and was previously at Linklaters. She specialises in private equity, hedge and real estate investment fund formation and corporate M&A transactions. Recent transactions include advising Gartmore Investment Management in relation to the launch of its European fund of funds and The Carlyle Group in relation to the €4bn European buyout fund.

Saloni will join the London Funds Group, part of Morgan Lewis’s highly-rated Private Investment Funds practice which is led by New York based Louis H. Singer. The Funds group specialises in both fund formation and investment for US and international investors and represents every type of private investment fund, including buyout, venture capital, real estate opportunity, corporate governance, hedge, distressed assets and mezzanine funds as well as publicly listed funds. The firm was recently ranked by Private Equity Analyst as the second Most Active Law Firm by number of funds worked on for general and limited partners.

Commenting on Saloni’s appointment in London, Louis Singer said: “We are delighted that Saloni is joining us in London as she is an excellent addition to our established global investment funds capability. Her experience advising sponsors and investors on international investment funds and private equity acquisitions together with her significant capital markets expertise will blend perfectly with the European needs of our US and international clients.�

Kate Habershon joins Morgan Lewis from the London office of Cleary Gottlieb Steen & Hamilton. Having trained and worked in the tax department at Freshfields in London she then worked in the international tax group at both PricewaterhouseCoopers and then Mallesons Stephen Jaques in Sydney, Australia before returning to the UK.

Kate specialises in the tax aspects of mergers and acquisitions, capital markets, acquisition and structured finance, private equity, hedge funds and executive compensation. Recent transactions include advising Hellman & Friedman on the acquisition of Gartmore Group, advising a leading financial institution on the management of UK hedge funds and advising a major US corporation on its acquisition of private and publicly listed UK businesses.

Commenting on the appointments Morgan Lewis London managing partner Robert Goldspink said: “We are delighted to be joined in London by two highly talented partners in these key practice areas as part of the continued expansion of our Business & Finance Group. This follows the appointment of both new partners and assistants to our well-regarded Outsourcing practice earlier this year. The expansion of our London based funds practice will ensure the seamless delivery of English and EU law capabilities to the firm’s existing fund and institutional clients. This will allow us to extend our work with major US investment clients and attract new clients to the firm. In conjunction with our move in mid July to new offices, where we can double our current capacity, these new appointments clearly signal the delivery of the firm’s strategy for the growth of our London business.�

07-30-2007

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Debevoise & Plimpton, LLP

Verizon Wireless In Agreement To Acquire Rural Cellular Corporation
Debevoise & Plimpton LLP is advising Verizon Wireless, a joint venture of Verizon Communications and Vodafone, in its agreement to acquire Rural Cellular Corporation, for approximately $2.67 billion in cash and assumed debt.

Verizon Wireless operates the nation’s most reliable wireless voice and data network, serving 62.1 million customers. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.

The Debevoise team is led by partner Jeffrey J. Rosen and includes partners Lawrence K. Cagney, William D. Regner and David H. Schnabel and associates Suzie C. Alway, Michael Bolotin, Michael A. Diz, Neena A. Reddy and Charles E. Wachsstock.

07-30-2007

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