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Legal News

The AM Law Daily

Daily legal news from American Lawyer magazine.
By American Lawyer

Post Frequency: 9.5/day

Last Entry: March 30, 2011 at 21:00:00

Schulte, Simpson Advising on $6.3 Billion Sale of Chrysler Financial to TD Bank

Posted on December 21, 2010
The Toronto-Dominion Bank announced on Tuesday that it had reached a deal to buy Chrysler Financial from private equity firm Cerberus Capital Management for roughly $6.3 billion in cash. The deal is the second major acquisition of a large U.S. lender by a Canadian bank in a week.

Skadden, Simpson Advising on Apax LBO for ISS

Posted on December 21, 2010
The two firms are advising on a proposed $8.5 billion leveraged buyout for Danish cleaning services company ISS by London-based private equity firm Apax Partners.

The Bankruptcy Files: $45 Million More in Holiday Lehman Fees

Posted on December 21, 2010
The tab for outside legal advisers and other professionals in the Lehman Brothers bankruptcy broke the $1.1 billion barrier in December. Plus: New bankruptcy assignments for Kirkland & Ellis, Kramer Levin, Latham & Watkins, and Sheppard Mullin.

Gone Till December? Wyclef Plays Monday Afternoon Show at DLA Piper's NYC Office

Posted on December 20, 2010
The recording artist, producer, and activist proposed a "thank you" concert--for the firm's pro bono efforts in Haiti and for the work it does for Jean--last Friday over lunch with DLA Piper partner David Hryck. By 3 pm Monday, it was Wyclef Unplugged in a multi-purpose room at the firm's midtown NYC office.

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AT&T Boosts 4G Capability with Qualcomm Deal

Posted on December 20, 2010
The communications giant will pay $1.9 billion for Qualcomm-owned wireless spectrum licenses. Sullivan & Cromwell, DLA Piper, and Arnold & Porter advised the parties on the deal.

The Global Lawyer: Marty Likes It

Posted on December 20, 2010
Wachtell's Martin Lipton endorses plan once feared to be a Sarbanes-Oxley for human rights.

Debevoise Advising on $8.1 Billion Russian Potash Merger

Posted on December 20, 2010
Two companies controlled by Russian billionaire Suleiman Kerimov--UralKali and Silvinit--are merging to create the world's second-largest producer of potash, an increasingly valuable ingredient commonly used to make fertilizers.

The Beer's Gone Bad: Anheuser-Busch, MLB Sponsorship Dispute Gets Nasty

Posted on December 20, 2010
The two parties have enlisted the help of Howrey and Proskauer Rose, respectively, to hash out their legal dispute.

Simpson, Vinson Lead on $1.36 Billion Bahamas Oil Sale

Posted on December 20, 2010
Oil investor Buckeye Partners will acquire an 80 percent stake in Bahamas Oil Refining Company International, the Caribbean's largest owner and operator of marine storage facilities for oil and petroleum products.

S.F. v. S.V.: Firms Bypassing San Francisco for Silicon Valley?

Posted on December 20, 2010
When Skadden closes its San Francisco office next June, the firm will be the third New York-based firm to relocate its Northern California operations to Silicon Valley since 2006.

Total to Buy $1.75 Billion Stake in Suncor's Oil Sands Projects

Posted on December 20, 2010
Blake Cassels and Osler assisted on a deal that's viewed as one of the most complex joint ventures in the oil sands ever. Total and Suncor have agreed to join forces to develop three huge tracts, with billions of dollars worth of additional investments promised by both sides over the next decade.

Firms Take Cautious Approach to Class Size in Partnership Promotions

Posted on December 20, 2010
The difficult economic environment has caused firms to trim the size of new partner classes and to stretch out the partnership track.

Name Partner at Elite Italian Firm Gets Suspended Sentence in Parmalat Trial

Posted on December 20, 2010
Sergio Erede, a founder of top-tier Italian firm Bonelli Erede Pappalardo, was one of two lawyers handed jail sentences last week in connection to the collapse of Italian dairy giant Parmalat.

Radio Throwdown: Kirkland, Weil Behind Citadel on Cumulus Bids

Posted on December 19, 2010
The two firms have been retained by Citadel Broadcasting, the nation's third-largest radio station operator, as it fends off a $2.1 billion unsolicited by Cumulus Media on

Weil, Clifford Chance on Siemens' $1.1 Billion Sale of IT Unit to Atos

Posted on December 19, 2010
German conglomerate Siemens will sell its information technology services unit to French rival Atos Origin for $1.1 billion.

Judge Drops Thousands of Anonymous Alleged Porn Downloaders From Suits

Posted on December 17, 2010
In a major blow to a set of sweeping copyright infringement suits over the alleged illegal file-sharing of such titles as Tokyo Teens and Massive Asses 5, a West Virginia federal district court judge on Thursday effectively dismissed claims against thousands of John Doe defendants in the cases...

Dealmaker of the Week:
Keith Pagnani of Sullivan & Cromwell

Posted on December 17, 2010
Over the course of nearly three years and several deals in which pharmaceutical company Novartis has acquired a majority stake in eye care company Alcon, the attorney for Alcon's committee of independent directors has successfully fought to secure a fair price for his client.

The Combat Sports Chronicles: UFC IP Suits and NFL Labor Talks

Posted on December 17, 2010
The UFC gets litigious; inside the NFL and NBA labor negotiations; the MLBPA finally prevails in quashing the infamous "steroids list;" and the Texas Rangers bankruptcy's ongoing legal bills. That and more in our semi-regular look at sports and the law.

The Churn: Lateral Moves and Promotions in The Am Law 200

Posted on December 17, 2010
Dechert adds partners in New York and L.A.; a pair of Pepper Hamilton attorneys moves to Foley & Lardner in Boston; and the former Solicitor General of Texas rejoins Gibson Dunn. The Churn is constant. Please send all announcements and news releases to thechurn@alm...

Four Firms on BMO's $4.1 Billion Acquisition of U.S.'s Marshall & Ilsley

Posted on December 17, 2010
The deal, which was announced Friday morning, is the second large acquisition by a Canadian bank of a distressed U.S. bank in recent months. Among those advising on the transaction: Sullivan & Cromwell; Osler, Hoskin & Harcourt; and Wachtell, Lipton, Rosen & Katz.

Bingham, Mayer Brown Advising on Sale of Blackwater/Xe Services to Private Equity Group

Posted on December 17, 2010
The two firms are working on a deal that will see a group of Los Angeles-based investors take control of Xe Services, the private military contractor formerly known as Blackwater Worldwide.

New Managing Partner for Cleary Gottlieb

Posted on December 17, 2010
Mark Leddy, a Washington, D.C.-based antitrust partner, will succeed Mark Walker as the firm's managing partner in January.

Record-Setting Madoff Settlement Announced With Picower Estate

Posted on December 17, 2010
The trustee for Bernard L. Madoff Investment Securities and the U.S. attorney's office in Manhattan have announced a settlement with the estate of Jeffry Picower, the longtime Madoff investor who died in October 2009. The settlement will reportedly be the largest civil forfeiture payment in U...

Icelandic Bank Fails in $2 Billion Bid to Sue Former Execs, Auditor in New York

Posted on December 16, 2010
"[G]et yourself a plane ticket," New York State Supreme Court Judge Charles Ramos remarked to the Steptoe & Johnson lawyer representing Glitnir Banki at a hearing Tuesday. Iceland, the judge ruled, not New York, is the appropriate venue for a $2 billion fraud case brought by the bankrupt bank in an attempt to recover funds for its creditors.

Big Firm Canadian Lawyers 'Gotta Feeling' About How to Show Holiday Spirit

Posted on December 16, 2010
The lawyers from Canadian firm Blake, Cassels & Graydon rocked Toronto's Commerce Court on Wednesday with a flash mob rendition of "I Gotta Feeling" by the Black Eyed Peas. Just watch the video.

Tip Sheet: Tim and Nina Zagats' Guide to Restaurant Class Actions

Posted on December 16, 2010
New York's most famous restaurant-rating couple weigh in on what's behind the bevy of suits filed against big-name city restaurants--many of them the handiwork of one busy lawyer happy to bite the hands that feed.

Eight Firms Snag Roles on $1.2 Billion Uranium Deal

Posted on December 16, 2010
Three Australian firms, three Canadian firms, and two Tanzanian firms landed the outside counsel appointments on a deal that will give Russia access to African uranium.

McDermott, O'Melveny Partners Testify Before WikiLeaks House Panel

Posted on December 16, 2010
A House Judiciary Committee hearing Thursday on WikiLeaks and the Espionage Act featured two witnesses from Am Law 100 firms: Abbe Lowell, head of the white-collar defense practice at McDermott Will & Emery, and Kenneth Wainsten, a former national security adviser now at O'Melveny & Myers.

SEC, DOJ Charge Former Am Law 100 Partner in Fraud Case

Posted on December 16, 2010
Jonathan Bristol, a former partner at Winston & Strawn and Thelen, has been charged by the SEC with "aiding and abetting" a multimillion-dollar fraud perpetrated by a financial adviser to the stars. The lawyer has also been charged criminally by the U...

Mark Cuban's Lawyers Respond to SEC in FOIA Fight

Posted on December 16, 2010
A request to move up an FOIA review has the SEC and lawyers for the Dallas Mavericks owner trading jabs in the agency's insider trading suit against Cuban.

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