Law Firm News

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Law Firm News

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Pellettieri, Rabstein & Altman

PR&A Partner Bruce Miller named among "Best Lawyers In America" for 11 Years Straight!
For the 11th straight year, Bruce Miller, chairman of the PR&A Workers’ Compensation department, will be honored among “The New York Area’s Best Lawyers” in the Best Lawyers in America annual issue of New York Magazine.

According to Best Lawyers, (nymag.com) the compilation of Best Lawyers lists attorneys in 77 specialties representing 50 states. Those honored are chosen through a national survey of the top lawyers evaluating their peers.

05-03-2007

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Matheson, Ormsby & Prentice, P.C.

Matheson Ormsby Prentice advises Dresdner Kleinwort on first sterling CRE CDO
Matheson Ormsby Prentice advised Dresdner Kleinwort as the joint arranger and lead manager on the issuance of the first ever sterling denominated commercial real estate CDO transaction called Glastonbury Finance 2007-1 plc. The transaction involved the issuance of securities with a value of approximately STG£354 million. Approximately 70 per cent of the CMBS assets were sterling denominated and backed by UK assets, and the other 30 per cent CMBS assets were euro denominated and backed by German, Italian, Dutch, French and Irish assets. The Matheson Ormsby Prentice team was led by Mark O’Sullivan and Turlough Galvin.

05-03-2007

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Lowenstein Sandler, PC

Firm Secures Near-Record $2.45 Billion Settlement
Michael Himmel led a firm team that secured a $2.45 billion settlement, the fifth largest securities class action settlement in history, from Nortel Networks Corp., a Canadian telecommunications company. The team also included partner Christopher S. Porrino and numerous associates.

Mr. Himmel represented the Department of the Treasury of the State of New Jersey and its Division of Investment—the New Jersey state pension fund and a lead plaintiff in the case—which sued Nortel on behalf of millions of shareholders of Nortel common stock. In the lawsuit In re Nortel Networks Corp. Securities Litigation, originally filed in 2004, these shareholders alleged that Nortel and its officers engaged in accounting fraud.

The ultimate $2.45 billion settlement comprised $575 million cash from Nortel directly; more than $228 million cash from Nortel’s insurers; and 14.5 percent of the equity in the company—in excess of 62 million shares of Nortel common stock. The settlement was global in scope and recently received approval from courts in the United States and Canada.

The case involved highly complex facts and accounting principles, requiring sophisticated tactics and strategies; discovery alone involved some 20 million documents.

Mr. Himmel has a national practice in white collar criminal defense and complex business litigation, representing both plaintiffs and defendants. His clients include private and public corporations and their officers and directors, as well as professionals and federal and state officials and entities, in matters involving such areas as tax fraud, securities fraud, political corruption, antitrust, bank fraud, and environmental matters. Mr. Himmel was an Assistant District Attorney in Bronx County, New York, and later served as an Assistant U.S. Attorney for the District of New Jersey.

05-03-2007

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Flaster Greenberg

Attorney Joshua M . Gaffney Joins Flaster/Greenberg’s Philadelphia Office
Joshua M. Gaffney has joined Flaster/Greenberg as an associate and member of the firm's Financial Restructuring, Bankruptcy and Risk Management Practice Group in its Philadelphia office. He will focus on bankruptcy and complex commercial litigation.

Prior to joining Flaster/Greenberg, Gaffney was an associate at Wolff & Samson PC in West Orange, New Jersey where he also concentrated his practice on bankruptcy and complex commercial litigation. He previously served as a law clerk for the Honorable Rosemary Gambardella, Chief Judge, United States Bankruptcy Court for the District of New Jersey.

Admitted to practice in Pennsylvania and New Jersey, Gaffney is a member of the New Jersey State Bar Association. He graduated from the Rutgers University School of Law - Newark with honors (J.D., 2004) and received a B.S. from Northeastern University where he graduated magna cum laude in 2000.

Gaffney and his wife Cheryl reside in Philadelphia.

05-03-2007

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Bell, Boyd & Lloyd, L.L.C.

Carmen Lonstein Appointed to Chair Bell Boyd's Bankruptcy Practice
Bell, Boyd & Lloyd LLP has announced the appointment of Carmen H. Lonstein to chair the firm's Bankruptcy and Restructuring Department. She will lead a practice that has become known for its skilled representation of equity and creditors committees in some of the nation's largest bankruptcy cases.

Ms. Lonstein, who has practiced bankruptcy law for nearly 20 years, joined Bell Boyd as a partner in 2001. With an extensive Chapter 11, workout and bankruptcy litigation practice, she represents debtors, statutory committees, secured creditors, landlords, purchasers and trustees. She has served as counsel to the equity committee in Kasper A.S.L. Ltd, a $300 million apparel company case brought in the Southern District of New York; as counsel to the equity committee in liquidating Stone & Webster Incorporated, a Chapter 11 case involving more than $1 billion in debt; and as local counsel to the equity committee in the $8 billion Comdisco case in Chicago.

In announcing the appointment, Bell Boyd's Managing Partner Nancy E. Bertoglio said, "Carmen Lonstein is a proven leader with the extensive experience and legal acumen needed to manage the complex business and legal issues our clients face in the restructuring process."

A frequent author and speaker on bankruptcy law topics, she is noted for her national and international involvement in bankruptcy professional organizations. She is the founder and former chair of the Chicago International Women's Insolvency and Restructuring Confederation, and she is an active participant in the American Bankruptcy Institute and the Turnaround Management Association. Ms. Lonstein received her J.D. from New York University School of Law and was a magna cum laude graduate of Hunter College of The City University of New York.

05-03-2007

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Watson, Farley & Williams, LLP

WFW advises Norseman Gold Plc (previously Davos Resources Plc) on a major acquisition and its Re-Admission to AIM
Watson, Farley & Williams LLP (“WFW”) has advised Norseman Gold Plc (previously Davos Resources Plc) (the “Company”) on the acquisition of Central Norseman Gold Corporation Ltd (“CNGC”), the owner and operator of the Norseman gold mine, Australia’s longest continually running gold operation. To fund the acquisition and provide working capital for the mine, the Company has raised a total of £26.9 million (before expenses) including a £22 million placing through the issue of 220,000,000 placing shares at 10 pence per share at readmission. The Company was re-admitted to AIM as Norseman Gold plc (AIM Ticker: NGL) with effect from 24 April 2007.

The Company already has in place a defined exploration programme to extend the mine life. Additionally, the Company intends to continue to look for further acquisition opportunities to fully utilise its strong management team’s expertise in mine development and restructuring.

Jan Mellmann, who led the transaction for WFW, stated: “We advised Davos Resources when it first listed on AIM in October 2006 and it is very pleasing to see how fast it has developed since then through the CNGC acquisition. This was a complex cross-border transaction and shows how the AIM market can help companies to realise opportunities.

05-03-2007

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Stroock & Stroock & Lavan, LLP

Stroock Wins Significant Summary Judgment Ruling in Trade Secrets Case for its Client Richards Manufacturing
Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles and Miami, and its client, Richards Manufacturing Co., announced that on April 26, 2007, Judge Stanley R. Chesler of the United States District Court for the District of New Jersey entered an Opinion and Order granting, in its entirety, Stroock’s Motion for Partial Summary Judgment dismissing all ten trade secret misappropriation claims, as well as 34 separate claims of misappropriation of confidential information that had been asserted against Richards. The Plaintiff, Thomas & Betts Corporation, asserted the claims several years after one of its former employees left Thomas & Betts (T&B) to join Richards to develop a competing line of high voltage underground electrical connectors that are used by public utilities, such as Con Edison and others. Prior to Richards’ entry in this market, T&B had been the sole supplier of these products to Con Edison for more than 30 years.

The Motion for Summary Judgment filed by Stroock was preceded by a successful Daubert Motion in which the testimony of T&B’s principal expert was excluded. Based on the exclusion of T&B’s expert, and the lack of evidence submitted in opposition to Stroock’s Motion, the District Court found that T&B could not prove a triable issue of fact to the jury regarding the protectability of each of the trade secrets and items of confidential information that were the subject of the Motion. Although several additional claims remain, Richards and its counsel are confident that the Court’s reasoning will require dismissal of all of the remaining claims in the litigation.

Steven Pokotilow, co-chair and Partner in Stroock’s Intellectual Property Practice Group and lead trial counsel for Richards said, “This is a real David vs. Goliath case in which our small family-owned client, located in Irvington, New Jersey, was able to withstand the aggressive onslaught of Thomas & Betts, a multi-billion dollar publicly traded company.”

Joseph Bier, President of Richards Manufacturing, stated this is “a victory for public utilities and for their customers who, by virtue of having the Richards’ products available to them, are paying less for these products than they would otherwise to support the electrical grids in New York City and elsewhere.”

Mr. Pokotilow and his Stroock colleagues Special Counsel Charles Cantine and Associate Jason Sobel, and Arthur Grossman of Mandelbaum Salsburg represented Richards Manufacturing.

05-03-2007

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