The Legal 500

Within Asset finance and leasing, tier 5

The ‘excellent’ Hughes Hubbard & Reed LLP has an extremely broad aviation practice acting on everything from traditional finance work to asset-related aspects of mergers and joint ventures, regulatory issues, litigation, workouts and bankruptcies. The practice is particularly well known for extensively representing some of the world’s largest air carriers, but also acts for leasing companies, banks and other financial institutions. Its mandates have included representing Republic Airways on a $6.3bn agreement with Bombardier to purchase 40 Bombardier CS300 jet aircraft with options for another 40 and acting for Continental Airlines on a $644m offering of pass-through certificates to finance the acquisition of eight used and 11 new aircraft. The team also advised Citicorp USA on the workout of an aircraft acquisition loan at the pre-delivery stage. Steven Chung in Washington DC is ‘knowledgeable, responsive and a source of advice – legal and non-legal – that greatly aids our ability to close transactions’. John Hoyns in New York is well known for transport and equipment finance, as well as corporate finance, securities and M&A. Andrew Braiterman, also in New York, is recommended for related tax advice.

Within International arbitration, Hughes Hubbard & Reed LLP is a second tier firm,

With a mixture of high-end commercial matters and investor-state work, clients are impressed by the ‘practical and results-oriented approach’ taken by the international arbitration team at Hughes Hubbard & Reed LLP. The firm is acting on behalf of holders of sovereign debt issued by the Republic of Argentina under five different sets of governing agreements relating to Argentina’s default on $115bn of its debt in December 2001, when the government issued a moratorium on further payments of principal or interest on its sovereign debt, making it one of the largest sovereign defaults in history. Since the issuance of the moratorium, Argentina has failed to make any payments of principal or interest, thereby breaching the governing agreements. The firm has obtained judgments against Argentina in six of the actions so far; its clients include, among others, BNP Paribas with claims of over $250m, and other banks and investment firms with holdings in the hundreds of millions. In total, the actions filed by the firm seek over $900m in principal owed under the bonds. The practice also successfully represented American Bureau of Shipping (ABS) by having a $1bn dollar case brought by the Kingdom of Spain dismissed in what was described as ‘the largest law suit in maritime history’. John Townsend, co-head of the firm’s global arbitration practice, is ‘smart, practical and able’, while John Fellas is also highly regarded. Steven Hammond impresses with his ‘remarkable insight into legal matters, enormous experience and legal knowledge’.

Within International trade, Hughes Hubbard & Reed LLP is a second tier firm,

A strong player in the international arbitration field, Hughes Hubbard & Reed LLP has significantly strengthened its international trade practice with the arrival of Jennifer Choe Groves from the White House staff in April 2010, and the hires of Joanne Osendarp and John Ryan from Weil, Gotshal & Manges LLP in early 2011. The firm’s expertise extends to export controls and sanctions, trade remedies and market access, intellectual property, and Foreign Corrupt Practices Act (FCPA) work, while the new hires will strengthen the firm on the trade policy front. The firm acts for Kellogg, Brown & Root (KBR), the defense services company, and has advised on a range of compliance issues including product classification, export licensing (for military items and for dual-use items), sanctions compliance, anti-boycott mattes and compliance language in contracts. On the trade remedies front, the firm acted as defense counsel for the largest Thai exporter in a series of antidumping proceedings involving plastic bags from Thailand as well as being retained by a major manufacturing multinational to handle its US international trade remedies and other trade matters (antidumping, countervailing duty, Customs, NAFTA, FTA) on steel and a wide range of other products and services. Amanda DeBusk heads up the group and is well regarded for her export control work. Ken Pierce is also recommended.

Within Product liability and mass tort defense: pharmaceuticals and medical devices, Hughes Hubbard & Reed LLP is a third tier firm,

Hughes Hubbard & Reed LLP’s ‘talented and client-driven’ team earned respect across the industry for its impressive performances in Vioxx cases for Merck & Co. It has also been acting for the same client in the Vytorin class action. Other recent highlights include serving as New Jersey trial counsel to Novartis in the ongoing Zelnorm litigation, in which the firm thwarted plaintiffs’ attempts to have the litigation designated as a mass tort and moved successfully to exclude plaintiffs’ key causation experts, leading to a favorable global settlement. Charles Cohen in New York was instrumental in the Vioxx litigation and is ‘the preeminent discovery and privilege strategist’. James Fitzpatrick is ‘incredibly bright and on the cusp of becoming a superstar’. Practice co-chairs Robb Patryk and Diane Lifton are also recommended, along with managing partner Ted Mayer.

Within Product liability and mass tort defense: toxic tort, Hughes Hubbard & Reed LLP is a second tier firm,

Hughes Hubbard & Reed LLP’s New York-headquartered practice receives glowing praise from clients, who say ‘there is no issue or difficulty that it cannot handle and handle well’. The toxic tort group is widely recognized for its ‘extremely talented yet caring’ attorneys. Recent highlights include representing the American Bureau of Shipping (ABS) in successfully moving to dismiss with prejudice a $1bn lawsuit brought by Spain alleging that ABS was liable for the oil spill from the tanker M/T Prestige, which sank in heavy seas off Spain’s northwest coast in 2002. The team is also representing Chemtall in a putative multi-state class action in West Virginia in which plaintiffs allege harmful exposure to polyacrylamide, a component of an industrial water-purifying chemical manufactured by the company. Co-chair Rob Patryk is ‘extremely intelligent, honest and hardworking’. Theodore Mayer, who was recently appointed managing partner, is ‘first class’ and always ‘thorough and responsive’.

Within M&A: middle-market (sub-$500m), Hughes Hubbard & Reed LLP is a third tier firm,

Hughes Hubbard & Reed LLP’s M&A attorneys assist clients in structuring, negotiating and implementing M&A transactions in the US and abroad. The practice’s work involves both hostile and friendly transactions and includes the representation of public and private companies, acquirers, targets, boards of directors, independent director committees, management buyout groups, subordinated lenders and equity participants. Especially known for media and publishing industry-related deals, the practice’s experience in fact covers a broad range of industries including industrial companies, media companies, pharmaceutical companies, airlines, utilities, apparel and other consumer products companies, financial services entities and accounting firms. Highlights included representing entertainment and telecommunications company Cablevision Systems in its acquisition of Newsday, one of the nation’s largest daily newspapers, serving Long Island and New York City, from the Tribune through to the formation of a partnership. The team also represented Rockwood Holdings in the acquisition of the global color pigments business of Elementis, and Viacom was assisted in its acquisition of Babunga.com, a network of parenting sites aimed at mothers-to-be. In New York, Candace Beinecke and James Modlin remain widely respected key figures. New York-based co-corporate chair Kenneth Lefkowitz is recommended.