Law Firm News

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Law Firm News

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Chadbourne & Parke LLP

Chadbourne Represented U.S. Noteholders in Cross Israel Highway Northern Extension
Chadbourne & Parke represented existing U.S. dollar noteholders, including CIT Capital Finance (as the US dollar agent and a noteholder), in connection with a 17 kilometer extension of the Cross Israel Highway by Derech Eretz Highways (1997) Ltd. ("DEC").

The approximately $210 million financing for the extension is to be funded by a syndicate arranged and led by Bank Hapoalim B.M. and mezzanine financing. Whilst the concessionaire, DEC, is the same for both the existing highway and the new northern section, the fact that different bank syndicates funded the existing highway and the extension raised complex and almost unique inter-creditor issues.

An initial set of deal financing documents was signed in February and financial close of the deal took place on June 28.

The project is being financed with approximately $150 million in senior debt, a grant of $10
million from the Israeli government, and $50 million in mezzanine financing provided by Israeli banks and financial institutions. Construction, which is expected to cost approximately $160 million, is scheduled to take about 33 months to complete.

Working on the deal for Chadbourne were London partner Denis Petkovic, New York partner Douglas Fried, London associate Luke Westmore and Houston associate Robert Goldberg.

Chadbourne previously represented international lenders in connection with the initial financing of the $1.4 billion Cross Israel Highway, the first toll road project in the country.

The Cross Israel Highway employs a state-of-the-art electronic toll collection system and is the country’s first toll road. As Israel’s first project financed infrastructure project, this deal was honored as 1999 transport infrastructure "deal of the year” by both Project Finance magazine and Project Finance International.

The Yitzhak Rabin Highway (Highway No. 6), also known as the “Cross Israel Highway,” is the largest infrastructure project ever built in Israel. The national highway’s route stretches 300 km, from the Beer Sheva area in the south to the region of Rosh Pina and Nahariya in the north.

The highway, which has now been fully opened and tolled for over three years, continues to meet traffic projections set by the concessionaire. Average weekday traffic on the highway in March 2007 reached 86,000, a 17.9% increase over March 2006. The new extension is expected to contribute significantly to traffic volumes on the main section of the highway.

07-02-2007

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Chadbourne & Parke LLP

Chadbourne Represented Global Coordinators in $16.5 Billion Financing for Tyco Spin-off
Chadbourne & Parke LLP represented the global coordinators in a $16.5 billion financing in connection with the spin-off by Tyco International Ltd., which resulted in three independent, publicly traded companies.

Six separate credit facilities were signed on April 25, paving the way for the financing needed for the spin-off of Tyco Electronics Ltd. (ultimately, the parent company of Tyco's electronics businesses) and Covidien Ltd. (ultimately, the parent company of Tyco's healthcare businesses).

The facility closed originally for $14 billion, but was increased by $2.5 billion on May 25 to fund part of a $2.975 billion settlement fund for Tyco's securities class action cases involving Tyco stock and the conduct of the former management of the company.

Tyco retained its fire & safety and engineered products businesses. Each of the three business lines has entered into a five-year revolving facility to be used for working capital and other general corporate purposes and a 364-day interim facility to be used to redeem or otherwise address Tyco's existing debt.

Chadbourne represented the global coordinators — Citigroup Global Markets Inc. and Banc of America Securities LLC — in connection with the credit facilities. The spin-off was completed on June 30, 2007.

Working for Chadbourne on the deal were New York partners Marian Baldwin, Scott Berson and Lawrence Rosenberg, and associates James Alexander, Monika Szymanski and Paul Dominski.

07-02-2007

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Akin Gump Strauss Hauer & Feld, L.L.P.

Akin Gump Expands Government Contract Litigation Practice with Lateral Partners in Washington Office
Robert Huffman and Peter Hutt have joined Akin Gump Strauss Hauer & Feld LLP as partners in the litigation practice in Washington, the firm announced today. Messrs. Huffman and Hutt represent defense contractors, health care systems, technology companies, and construction companies on the full spectrum of government contracts issues, ranging from advice on IP, technology transfer, and cost issues, to representation in bid protests, FOIA disputes, and contract disputes. Both have extensive experience in representing contractors in Civil False Claims Act lawsuits and other procurement fraud matters, and have served as counsel in more than 20 such matters.

Mr. Huffman received his B.A. magna cum laude from Harvard College and his J.D. from Stanford Law School. Mr. Hutt received his B.A. cum laude from Yale University and his J.D. from Stanford Law School. Messrs. Huffman and Hutt join the firm from Miller & Chevalier.

Mr. Huffman serves as chair of the Procurement Fraud Committee and the Research and Development/Intellectual Property Committee of the ABA Public Contract Section. He also serves on the advisory council of the U.S. Court of Appeals for the Federal Circuit and previously served as president of the Court of Federal Claims Bar Association. Mr. Hutt is the former chair of the Procurement Fraud Committee of the ABA Public Contract Section and serves on the board of the Washington Lawyers Committee for Civil Rights and Urban Affairs.

Cheryl Falvey, head of Akin Gump’s Washington, D.C., litigation practice, stated, “Bob and Peter bring talent and expertise that complement our existing litigation and policy practices in the area of federal procurement. Their emphasis on Civil False Claims Act and qui tam cases matches our existing practices in both government contracts litigation and the health care industry sector, adding immediate advantages for the firm and our existing clients.”

Mr. Huffman added, “We are thrilled to be part of the Akin Gump team. The firm’s reputation, capabilities and global scope provide us with a unique opportunity to provide comprehensive service to our clients.”

Mr. Hutt said, “Akin Gump has a stellar reputation for handling big-ticket fraud and False Claims Act cases and has achieved tremendous results. Our clients will greatly benefit from the resources of Akin Gump.”

07-02-2007

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Akerman & Senterfitt, Attorneys At Law

Akerman Attorneys Recognized as 'Legal Elite' in Florida Trend
Forty-one Akerman Senterfitt attorneys have been named to Florida Trend magazine’s 2007 Legal Elite, a select list of the state's top attorneys, representing less than 1.5 percent of The Florida Bar. J. Thomas Cardwell, Chairman and CEO of Akerman Senterfitt, was named among the Legal Elite’s nine Top Managing Partners in the state. In addition, Akerman Senterfitt again earned the distinction of Most Women Honorees in the Legal Elite.

Florida Trend’s Legal Elite is determined through a statewide poll in which attorneys were asked to name lawyers whom they hold in the highest regard – lawyers with whom they have worked or would recommend to others.

07-02-2007

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Akerman & Senterfitt, Attorneys At Law

Akerman Continues To Rise Up the AmLaw Rankings, to #108
Akerman Senterfitt continues rising up the AmLaw rankings in 2007, moving up to #108 from last year's #117 ranking. The firm attributes the steady climb to its long-standing success in its native state of Florida, and to its careful expansion into the national arena in recent years.

"Our strategy is simple, and has remained consistent over time: to meet the changing needs of our clients and their increasing demands for our services," said Tom Cardwell, Chairman of Akerman.

Akerman first appeared on the AmLaw 200 list in 1999 at #182. The AmLaw 100 and AmLaw 200 lists rank law firms in the United States by revenue and are compiled by American Lawyer Media's annual survey of law firm financial performance.

07-02-2007

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Adams & Reese LLP

Surprenant Named 2007 "Role Model" by Young Leadership Council of New Orleans
Mark C. Surprenant, Senior Partner in Charge of the New Orleans office of Adams and Reese, has been named a “Role Model of the Year” by the Young Leadership Council (YLC) of New Orleans. Each year, the YLC honors twenty-five outstanding community leaders who have distinguished themselves through their positive attitude and their unyielding desire to enhance and unite the community; serve as an exemplary role model to young people of the community; take an effective and vigorous leadership role in the community; and make significant contributions in their specific fields of endeavor. Surprenant and other honorees will be formally presented at the 21st Annual YLC Role Model Gala on August 11, 2007.

Aside from his service as Senior Partner in Charge of the New Orleans office, Surprenant is the Agricultural Chemicals Practice Team Leader in the Litigation Practice Group. He received his Bachelor of Arts from Fordham University in 1973, and earned his Juris Doctorate cum laude from Loyola University School of Law in 1977. He was a member and comment editor of the Loyola Law Review and graduated fourth in his class.

Since the beginning of his career, Surprenant has been dedicated to community service. In 1988, he created HUGS, the firm's corporate philanthropy program, and in 2000, he created CA&RE, the firm's official pro bono program. He is also the co-founder of HELP (Homeless Experience Legal Protection) and SOLACE, Inc. (Support of Lawyers/ Legal Personnel--All Concern Encouraged). For his dedication to volunteerism and his many contributions to the community, Surprenant has received several awards over the years. In addition to being named a “YLC Role Model of the Year" he was also recently selected as a "Great Gentleman for 2007" by the East Jefferson General Hospital Auxiliary; and "Outstanding Volunteer" by the New Orleans Pro Bono Project. In 1996, he received the Louisiana Bar Association President's Award for Professionalism.

Surprenant's distinguished professional, civic and charitable positions include his current service as Secretary on the Board of Directors for the New Orleans Pro Bono Project; as well as service on Loyola University's President's Council 1991-1995; Loyola Law School Visiting Committee from 1994-present; Chairman of the Louisiana State Bar Association's Community Action Committee from 1996-1999; President of the New Orleans Association of Defense Counsel (1988-1989); President, Greater New Orleans Athletic League; President, Loyola University Law Alumni, 1984; member of the Louisiana State Task Force on Public School Finance, 1980-1982; and Chairman, Chamber of Commerce, New Orleans and River Region, Education Committee, 1979.

Surprenant is listed in The Best Lawyers in America (Environmental Law, Personal Injury Litigation, Product Liability Litigation), and has been recognized in Louisiana Super Lawyers (Personal Injury Defense: Products) and New CityBusiness "Leaders in Law". He is AV-Rated by Martindale-Hubbell.

07-02-2007

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Weil, Gotshal & Manges, LLP

Weil Gotshal Represents Buyer Group in Bell Canada Leveraged Buyout; $51.7 Billion (Canadian) Deal Termed Largest Ever
Weil, Gotshal & Manges LLP represented a group comprised of Providence Equity Partners, the Ontario Teachers' Pension Plan Private Capital Group, Madison Dearborn Partners and other Canadian investors in the leveraged buyout of Bell Canada, announced over the weekend. In its reporting, The New York Times called the transaction, "the largest leveraged buyout ever." According to The Wall Street Journal, the telecommunications deal "represents the largest private-equity deal in history." Value of the buyout was reported as $51.7 billion Canadian dollars or $48.5 billion US.

Under the terms of the transaction, the Ontario Teachers' Pension Plan will emerge with a 52 percent equity stake and, with other Canadian investors, two-thirds voting control in accord with Canadian regulation prohibiting foreign control of domestic telecommunications companies, while Providence Equity will take 32%, Madison Dearborn 9% and other Canadian investors 7%. The transaction is subject to approval by shareholders and regulators and would be Canada's largest takeover to date.

Commenting on the epic buyout, David Duffell, lead Weil Gotshal attorney on the deal, stated, "Given the complexity of this cross border transaction in terms of the challenging acquisition process and the related financing, regulatory and currency issues, the Weil team, with our Canadian colleagues, worked seamlessly across multiple practice groups with our clients to formulate and execute a successful strategy, culminating in this landmark deal."

Other Weil Gotshal attorneys involved in the deal included Michael Aiello, Angela Fontana, Akiko Mikumo, Matthew Bloch, Conrad Bahlke, Todd Chandler, Steven Newborn, Carrie Anderson and Marc Silberberg assisted by associates Matthew Gilroy, Heather Emmel, Hillary Chapman, Shayla Harlev, Matt Ellis, Germaine Gurr, Katherine Krause, Jeff White, Jaclyn Cohen and Anita Tarar.

07-02-2007

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