Law Firm News

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Kelley, Drye & Warren, LLP

Appeals Court Grants Kelley Drye’s Motion for Summary Judgment on Behalf of Client, State Street Bank and Trust Company, in $90 Million Noteholder Suit
The New York Appellate Division, First Department, granted Kelley Drye client State Street Bank and Trust Company ("State Street") a major victory in a long-running litigation relating to hundreds of millions of dollars of defaulted notes issued in the late 1990s by one of the largest funeral home companies in North America. Specifically, the First Department dismissed in its entirety the plaintiff note holders’ complaint against State Street that sought damages, interest and costs totaling more than $90 million.

By way of background, in 2002, State Street was sued by forty-four plaintiffs, consisting primarily of investment and distressed debt funds, for alleged breaches of contract and tort duties and violations of the Trust Indenture Act. State Street was an indenture trustee for $750 million worth of notes issued in 1997 and 1998 by Loewen Group International, Inc. The plaintiffs claimed that State Street, as indenture trustee, had an obligation to ensure the secured status of the notes, and that it had allegedly failed to take certain steps in that regard, causing uncertainty in the secured status of the notes and resulting in a diminution in the value of the notes under the confirmed bankruptcy plan. Plaintiffs alleged that they received tens of millions of dollars less in bankruptcy distributions than they would have received had there been no issue regarding the secured status of the notes.

After substantial discovery, motion and appellate practice (including an earlier appeal to the New York Court of Appeals in which Kelley Drye persuaded the Court of Appeals to reinstate State Street's third-party claims that had been dismissed by the First Department), the plaintiffs and State Street both moved for summary judgment before the trial court. The trial court dismissed plaintiffs' claims against State Street for breach of contract and breach of the Trust Indenture Act, but denied summary judgment on plaintiffs' negligence and breach of fiduciary duty claims, finding that questions of fact existed as to whether State Street had a duty to plaintiffs and whether State Street breached any such duty.

Plaintiffs and State Street each appealed to the Appellate Division, First Department. The First Department dismissed plaintiffs' complaint in its entirety, affirming judgment in State Street's favor on the breach of contract and statutory claims, but reversing the denial of judgment to State Street on the negligence and breach of fiduciary duty claims. The Court found that plaintiffs' contract and statutory claims had been released pursuant to language in the 2002 Loewen bankruptcy plan of reorganization that Kelley Drye had persuaded the bankruptcy court to include in the Plan. The First Department also accepted Kelley Drye's argument that plaintiffs' tort claims should have been dismissed as well, because they were duplicative of the contract claims.

While the First Department decision is potentially subject to an appeal to the New York Court of Appeals, the decision is a major victory for State Street, individually, and the indenture trustee and banking industry, generally.

06-18-2007

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Katten Muchin Rosenman LLP

Katten Women’s Leadership Forum Sponsors Service Day at Chicago’s Only Public School Exclusively for Pregnant and Parenting Students
Katten Muchin Rosenman LLP is pleased to announce that on June 8, its Women’s Leadership Forum sponsored its third annual Service Day at the Simpson Academy for Young Women, the only Chicago Public School exclusively for pregnant and parenting students (grades 6 - 12).

The Firm’s attorneys and staff led various workshops designed to help the students develop critical skills in areas including job interview preparation and business etiquette. In addition, the Firm sponsored a baby book and clothing drive for Simpson Academy students and participated in a number of service projects around the school, including grounds keeping, planting flower beds, organizing the school’s storage room, painting, and general clean-up. Finally, Katten sponsored a scrapbook project for Simpson Academy students, whereby each student received a scrapbook or baby book to personalize.

Simpson Academy accepts pregnant students from any high school in Chicago throughout the year. With an enrollment of approximately 300 students, the school offers a general high school curriculum within a nurturing environment that includes social work services and counseling services for students and their families. Parenting skills classes taught by nurse practitioners are available to students, and homebound instruction is provided to students with a physician's approval. Simpson Academy also offers additional on-site services, such as “Literature for All of Us” and the WIC food supplement program. “Simpson Academy is an invaluable resource for pregnant teens who might otherwise drop out of school,”

said Megan Hardiman, chair of this year’s event and a partner in Katten’s Health Care Practice. “In Simpson Academy, we have found an exceptionally worthy cause for which there is a genuine need for our time and resources. We are delighted to continue our ongoing support of the school and its students.”

Katten’s Women’s Leadership Forum was established to further the Firm's commitment to the development, retention and advancement of women and to provide a forum for its women attorneys to discuss issues and share information. A driving force for its creation was the recognition that as a national law Firm, Katten has significant wisdom, experience and vision, which, when collected and shared internally and externally, can empower women at all levels in their careers to achieve success and satisfaction. The WLF’s relationship with Simpson Academy provides an opportunity for the Firm to reach out to women and children in need.

06-18-2007

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Ice Miller LLP

Ice Miller partner, Dave Mattingly discusses the 2005 U.S Grand Prix Formula 1 lawsuit and the recent appeals court decision.
The 2005 U.S. Grand Prix led to the filing of legal action against the Indianapolis Motor Speedway, Michelin, Formula One and others. The lawsuits were filed, and eventually consolidated, after 14 teams in the race pulled out due to safety issues with Michelin tires. Ice Miller Attorney Dave Mattingly discusses a recent appeals court decision that found the Speedway was not negligent.

06-18-2007

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Gray, Plant & Mooty

Gray Plant Mooty Breaks Into Chambers USA National Franchise Rankings
Gray Plant Mooty is pleased to announce that six of its attorneys have been ranked by their clients and peers as leaders in their respective fields in the newly published fifth annual Chambers USA: America's Leading Lawyers for Business. This also marks the first year that GPM’s franchise practice has made the leap into Chambers’ national rankings.

"We are excited to be nationally recognized in Chambers' select list of law firms for franchise and distribution law practices,” says Gaylen Knack, a principal in GPM’s Franchise & Distribution practice group. “I believe the recognition is due in large part to the long-standing relationships we’ve developed with many national franchisor clients, as well as the tremendous effort and team spirit of over 20 full-time franchise lawyers in our Minneapolis and DC offices. Adding an experienced group of attorneys in the DC area has given Gray Plant Mooty greater national visibility and personally offered a broader platform to provide international as well as domestic legal services to franchisors."

The Chambers rankings are based on extensive research conducted by Chambers and Partners Legal Publishers, a highly respected English research firm that publishes directories assessing and ranking the world's leading lawyers.

Gray Plant Mooty was ranked in:
• Franchising, nationally
• Corporate/M&A in Minnesota
• Labor & Employment in Minnesota
• Litigation: General Commercial in Minnesota
• Real Estate in Minnesota

Individual Lawyers
The GPM lawyers cited by Chambers, along with the regions and areas of law for which they were selected, are:

National:
• Gaylen Knack, Franchising
Minnesota:
• John Brower in Corporate/M&A
• Laura Hein in Litigation: IP
• Judith Bevis Langevin in Labor & Employment
• James Simonson in Litigation: General Commercial
• John Thiel in Real Estate

06-18-2007

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Gray, Plant & Mooty

GPM Ranked Among Top Five Corporate Law Firms in Minneapolis
Gray Plant Mooty is pleased to announce that it has been named to Corporate Board Member magazine’s list of top five corporate law firms in Minneapolis. Inclusion on the 2007 list, marks GPM’s third appearance in the past four years.

Corporate Board Member’s annual Legal Industry Research Study identifies the top 20 national law firms and the top five corporate law firms in 25 major metropolitan areas, according to nearly 1,000 directors serving on boards of publicly traded companies listed with the NASDAQ Stock Market, New York Stock Exchange, or American Stock Exchange.

The complete national and local rankings may be found in the July/August issue of Corporate Board Member and online at http://www.boardmember.com/ (registration required).

06-18-2007

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Gibbons P.C.

Dunican Appointed Trustee of Bar Foundation
Patrick C. Dunican, Jr., Managing Director of Gibbons, has been appointed as a trustee of the New Jersey State Bar Foundation, an organization dedicated to promoting law-related education and giving all New Jersey residents a basic understanding of the legal system.

Mr. Dunican was elected Managing Director of Gibbons in 2004, and at the age of 36 became the youngest managing director among New Jersey’s top 10 law firms. During his tenure, Mr. Dunican has increased the firm’s revenues by $30 million and profits by 100%, while organically growing the firm by 60 lawyers and leading the opening of the firm’s newest office in Philadelphia -- which now boasts 40 lawyers. In addition, he has led the firm toward a more corporate management style, developed a mentoring program and outlined the firm’s strategic goals for the future. Gibbons’ attorneys now number 220.

Mr. Dunican has earned recognition for his achievements, and has been named one of New Jersey’s “40 under 40” by the New Jersey Law Journal and NJBIZ Magazine, and is among the finalists in the Ernst & Young Entrepreneur of the Year Awards for 2007. He is a member of the New York and New Jersey state bar associations, the Bar Association of the City of New York, the American Bar Association, the Essex County Bar Association and the Association of the Federal Bar for the District of New Jersey. In addition, Dunican serves on the Board of the New Jersey Symphony Orchestra Conservancy and the Board of Visitors for Seton Hall University School of Law.

Dunican received his undergraduate degree from Iona College and his law degree cum laude from Seton Hal University School of Law. He resides in Suffern, NY.

06-18-2007

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Freshfields Bruckhaus Deringer

Antoine Colonna d'Istria appointed managing partner of Freshfields Bruckhaus Deringer in Paris
Antoine Colonna d'Istria, 45 years old, avocat à la Cour, has been appointed by his peers as managing partner of the Freshfields Bruckhaus Deringer Paris office.

Antoine joined the firm in 2000 after having been a partner at the French firm Gide Loyrette Nouel. Antoine is also a member of the New York Bar, where he practised as a lawyer for three years with Rogers & Wells. His main areas of practice are French and international tax law. Antoine is a member of the International Fiscal Association and the Institut des Avocats et Conseils Fiscaux.

Antoine succeeds Jean-Claude Cotoni, who had been managing partner since 2004 and who remains a partner in the corporate group in Paris.

The Paris office comprises 183 lawyers, including 31 partners, and activity covers mainly business law advice, in particular mergers and acquisitions, finance, tax, litigation, arbitration, real estate, antitrust, competition and trade, employment, pensions and benefits, intellectual property and information technology, and public law.

06-18-2007

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