The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

White & Case LLP

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

FOURTH KAZAKH HYBRID TIER ONE ISSUE AS MARKET BOOMS

April 2006. Press Releases by White & Case LLP (view listing).

White & Case acted for joint lead managers Credit Suisse Securities (Europe) Limited (?Credit Suisse?) and UBS Limited on ALB Finance B.V.?s (?ALB?) $150 million 9.375 per cent hybrid tier one offering. As a wholly-owned subsidiary of Kazakhstan?s JSC Alliance Bank (?Alliance Bank?), Netherlands-based ALB intends to lend the total net proceeds from the issue of the securities to Alliance Bank under a perpetual non-cumulative subordinated loan agreement. The Notes were issued on April 19, 2006 with a callable option after ten years. Simultaneous with the tier one issue, White & Case also advised Credit Suisse as arranger of a $1.5 billion MTN programme for Alliance Bank and an immediate $250 million drawdown under it, which was issued on April 20, 2006.

Alliance Bank is the fourth Kazakh bank in less than six months to deploy this innovative form of financing. The rapid pace of these deals has been driven by vigorous domestic lending activity in Kazakhstan, with financial institutions in the country therefore needing to increase their regulatory capital reserves. Significant structural reforms to the banking sector made by the Kazakh financial regulator in 2005, allowing the use of sophisticated capital structures, have enabled these deals to come to market.

?Demand for regulatory capital in the Kazakh financial system continues to remain high, driven by strong domestic lending. With many of the country?s banks having used up their lower tier two allocation and with a limit on foreign ownership of Kazakh banks and available local capital, hybrid tier one capital is proving to be a very popular option for Kazakh banks. With only four of Kazakhstan?s 34 registered financial institutions having issued hybrid tier one capital, we anticipate a steady stream of further issues in the next year,? commented Stuart Matty, lead White & Case partner advising on the deal. ?The structures being created for these deals are evolving all the time, since each issuer has specific requirements that need to be met, and certain structures have not been available to every bank,? he added.

White & Case has now acted on three of the four hybrid tier one offerings to date from Kazakh banks, the first being by JCS Kazkommertsbank in December 2005, and there are several more in the pipeline. These institutions are the only banks from the former Soviet Union to have issued hybrid tier one capital, demonstrating the robustness and flexibility of Kazakhstan's financial regulatory regime.

Working on the deal for White & Case alongside Stuart Matty were London-based associates Peter Epp, Daniel Moore and Chris Wahlers, as well as partner Yuriy Maltsev and associate Maxim Grekov in Almaty. JP Morgan Corporate Trustee Services Limited acted as trustee for the holders of the securities. Dewey Ballantine (Louise Bernstein) acted for Alliance Bank.

About White & Case

White & Case LLP is a leading global law firm with nearly 2,000 lawyers in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our network and depth of our US, English and local law capabilities in each of our offices and rely on us for their complex cross-border transactions, arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:

James Martin

Media Relations Mgr EMEA, White & Case

Phone: +44 (0) 20 7532 2853

Mobile: +44 (0) 7939 012 011

Email: jmartin@whitecase.com

Dan Cade

Media Relations, White & Case

Phone: +44 (0) 20 7532 2848

Email: dcade@whitecase.com

Read more…

Despite Stricter Rules in Europe, US Companies More Advanced in Protecting Data

April 2006. Press Releases by White & Case LLP (view listing).

New York (April 25, 2006): A new study comparing European and US corporate privacy practices reveals that while European companies impose tighter restrictions on the sharing of sensitive personal data, US companies currently have more sophisticated systems in place to prevent breaches.

The study, sponsored by global law firm White & Case as part of its annual Global Privacy Symposium, which will be held Thursday, April 27 in New York, was conducted by the independent privacy think tank Ponemon Institute. The study surveyed 47 US and European multinationals on eight privacy practices, including privacy policy; communications and training; privacy management; data security methods; privacy compliance; choice and consent; cross-national standards; and redress. The survey questions were reviewed by two European data protection authorities, The Information Commissioner's Office of the UK and The Commission Nationale de l'Informatique et des Libertes (CNIL) in France.

?European companies are much more likely to have privacy practices that restrict or limit the sharing of customer or employees? sensitive personal information and are also more likely to provide employees with choice or consent on how information is used or shared,? said David Bender, head of White & Case?s Global Privacy practice. ?But the research also revealed that US companies are engaging in more security and control-oriented compliance activities than their European counterparts. As a result, US corporations scored higher in five of the eight areas of corporate privacy practice.?

Bender adds that ongoing concern about compliance with government rules is the lead driver for both US and European companies? privacy practices. But 50 percent of European and 24 percent of US privacy leaders now believe that strong privacy policies also are an important part of protecting or enhancing their company?s brand or image in the marketplace.

?The study further shows that European corporate privacy leaders are more likely to hold the view that their role is inextricably tied to advancing a culture of responsible information use rather than establishing technical or administrative controls over privacy and data protection,?

said Larry Ponemon, founder of the Ponemon Institute, who led the research team. ?In their minds, the most important thing is to convey the need for companies to act responsibly with personal information rather than using enhanced technologies like data encryption to prevent inadvertent breaches.?

Among the other key findings:

? US companies are more likely to have a dedicated privacy officer or leaders responsible for privacy issues than comparable European companies. US privacy leaders also tend to have a higher level of reporting authority within the company than their European counterparts.

? Most European companies have a strict ?no share? policy for consumer and employee data. Less than half of participating US companies have such a policy.

? US companies are more likely than their European counterparts to offer privacy training and awareness programs for employees. In addition, US companies are more likely to impose mandatory training for all employees who routinely use sensitive personal information.

? US companies are more likely to employ information security technologies to protect or safeguard sensitive personal information than European firms, including the use of encryption, intrusion detection systems, and Website monitoring. US companies are also more involved with the review and monitoring of their marketing and customer contact programs and far more likely to require all vendors, contractors and other third parties to comply with data security guidelines and practices.

? European companies have more rigorous data export controls, especially when moving personal information about employees and customers, to non-European Union nations. In addition, European companies are more likely to incorporate privacy program objectives that focus on data relevancy and date adequacy.

?European businesses also appear to lean more heavily on their respective data protection authority to get feedback about their privacy programs. By comparison, US companies rely on more sophisticated technology and training programs to impose adequate privacy protections on their operations,? said Bender.

In 2004, the Ponemon Institute conducted a similar survey comparing Canadian and US corporate privacy practices and, in that report, Canadian firms outperformed their US counterparts.

To obtain a copy of the ?Benchmark Study of European and US Corporate Privacy Practices,? please visit http://www.whitecase.com/corporateprivacy.

About White & Case

White & Case LLP is a leading global law firm with nearly 2000 lawyers practicing in 38 offices in 25 countries. White & Case?s Privacy practice operates at the forefront of privacy issues and data protection laws. We advise clients on how to adopt sound privacy practices, avoid privacy risks, and protect their competitive advantage. We also represent clients in privacy-related litigation. Each year we host an annual Global Privacy symposium, write articles and publish or sponsor surveys related to complex privacy issues.

About the Ponemon Institute, LLC

Ponemon Institute is a ?think tank? dedicated to advancing responsible information management practices in business and government. To achieve this objective, Ponemon Institute conducts independent research on privacy and information security, educates leaders from the private and public sectors, and verifies the privacy and data protection practices of organizations. The Institute is headquartered in Michigan. For more information, visit www.ponemon.org or contact (800) 887.3118.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case LLP

212/819-8299

ssonnenfeld@whitecase.com

Read more…

CHINESE COMPANIES FOCUSED ON ASIAN ACQUISITIONS SAYS WHITE & CASE POLL

August 2005. Press Releases by White & Case LLP (view listing).

CHINESE COMPANIES FOCUSED ON ASIAN ACQUISITIONS SAYS WHITE & CASE POLL

Chinese Business Leaders Reveal Asia as Their Investment Destination of Choice

August 10, 2005

Deals involving Chinese acquirers and high-profile US and European targets may grab the headlines, but most of China?s outbound M&A activity is likely to be much closer to home, says a new poll conducted by global law firm White & Case LLP.

A survey of 80 Chinese business leaders conducted at two seminars held in Beijing and Shanghai in July to educate companies on how to expand overseas reveals Asia to be the leading international investment destination for Chinese companies. More than three-quarters of China?s outbound companies are looking to Asia, compared with only 56 percent considering North America and 44 percent interested in Europe.

Emerging markets around the world are also prominent on the radar screens of Chinese companies, with Eastern Europe, South America and Africa all generating significant interest from respondents.

'Chinese companies are only just starting to think seriously about going overseas, but in order to make the most out of opportunities available in the global marketplace they also need to better understand how that marketplace works, which is why seminars such as ours are so valuable,' says Li Xiaoming, executive partner of White & Case?s Beijing office. 'There is no lack of ambition in China and, provided they continue to seek out good advisers, we are going to see many companies harnessing those ambitions and successfully competing globally.'

Just five percent of survey respondents said they had already established overseas operations, while 75 percent said they are considering establishing a presence or engaging in operations overseas in the near future. This is the crest of a very big wave: so far in 2005 Chinese companies have announced outbound M&A deals totaling almost $23 billion, according to Dealogic figures, compared to less than $5 billion in 2004.

Needless to say, the driving force behind this expansion is Chinese manufacturers searching for new markets to sell their products (77%) and sourcing raw materials to keep their factories operating (28%). But by going overseas China?s executives also hope to acquire management expertise (34%) and acquire sophisticated technology (30%).

Survey Results

The survey was conducted at the China Outbound seminars in Beijing and Shanghai on July 15 and 18, respectively. The seminar series, aimed at educating Chinese companies on how to expand overseas, was hosted by White & Case, Benelux-based Loyens & Loeff and Korean law firm Woo Yun Kang Jeong & Han, in partnership with the China Council for the Promotion of International Trade.

A total of 80 survey forms were completed by senior business executives at some of China?s leading businesses, 35 of whom were from state-owned enterprises. Of the 80 completed surveys, 61 said they were considering overseas investments.

Is your company considering establishing a presence or engaging in operations overseas in the near future?

Yes 78%

No 11%

Already 5%

Blank 6%

Where in the world are you considering establishing operations?*

Asia 77%

(South-East Asia, 69%; Japan, 28%; Korea, 20%)

North America 56%

Western Europe 44%

Eastern Europe 43%

South America 26%

Middle East 26%

Africa 16%

What do you most hope to gain by investing overseas?*

Distribution network/Access to raw materials 77%

Management expertise 34%

Technology 30%

Access to raw materials/Natural resources 28%

Foreign brands 16 %

Manufacturing capability 11%

* Respondents were able to give more than one answer.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers in 38 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

White & Case has also been named 'Best US Law Firm in London', 'Eastern Europe Law Firm of the Year' and 'Eastern Europe Corporate/M&A Firm of the Year' by leading legal benchmark publications. In March 2005, IFLR named White & Case 'Restructuring Team of the Year' at its Asian Awards and in January 2005 Legal Business gave White & Case its 'Banking and Finance Team of the Year' award.

Contact:

Nick Ferguson

Media Relations Manager, Asia-Pacific

White & Case

852 2822 8792

nferguson@whitecase.com

Li Xiaoming

Partner

White & Case

86 10 8532 9800

xli@whitecase.com

Read more…

WHITE & CASE ANNOUNCES DOUBLE FINANCE HIRE

July 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ANNOUNCES DOUBLE FINANCE HIRE

Firm Continues to Build on Existing Structured Finance and High Yield Expertise

July 29, 2005

White & Case has appointed two new legal counsel, with 23 years of legal practice experience between them, bolstering its capital markets expertise in the areas of structured finance and high yield.

Christopher Whiteley joins the London office?s Structured Finance practice from JP Morgan and Bradley Kurkowski, a US qualified lawyer, joins the Firm?s London-based European High Yield practice from a leading City law Firm.

Commenting on Kurkowski?s appointment, Rachel Hatfield, co-head of the Firm?s European High Yield practice, said: 'High yield is an area in which we?re actively adding capabilities in order to satisfy the needs of our clients. We advised on approximately ?1 billion of high yield transactions in the first half of this year and despite the impact of debt rating downgrades on the high yield market, we?re currently advising on two active deals and numerous bids with high yield components.'

Kurkowski has had significant experience in corporate finance. He concentrates on corporate finance transactions and securities, with particular experience in high-yield debt offerings. He has represented investment banks and companies in a wide range of securities transactions, including: Rule 144A and Regulation S high-yield debt offerings; exchange offers; debt tender offers and consent solicitations; and initial public offerings and secondary and follow-on offerings of equity securities, including in connection with SEC, NASD and securities exchange review processes. Kurkowski?s practice also includes the representation of public and private companies in connection with general corporate and securities matters.

On Whiteley?s arrival, head of White & Case?s London Structured Finance practice, Rich Reilly, said: 'Not only is demand for derivatives expertise being driven by the continuing boom in the CDO market, we are also seeing the need for pure derivatives counsel. Christopher will be a great asset to our current 26-lawyer strong practice, supporting a team that has advised on a total of 35 deals in the last 12 months.'

Whiteley specialises in financial derivatives. When he moved to JP Morgan he worked as a credit structurer in the credit portfolio group and in corporate rates marketing. His areas of expertise include: advising on the provision of hedging to corporates or SPEs on a secured basis, including advising on the rights of a hedging bank with respect to other creditors; advising on structured alternative investments for banks and their clients whether on a funded or unfunded basis; advising on transactions to monetise illiquid or immobilised assets; advising on transactions to monetise differences in costs of funds; and providing advice to funds entering into derivative transactions, including prime brokerage arrangements. He has been involved in the derivatives aspects of a number of work-outs, including the Peregrine group, various telcos, energy companies, and Parmalat.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers in 38 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Dan Cade

Media Relations, White & Case

44 0 20 7532 2848

dcade@whitecase.com

Read more…

WHITE & CASE ACTS IN ?2B CREDIT FACILITY INVOLVING 15 BANKS

July 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ACTS IN ?2B CREDIT FACILITY INVOLVING 15 BANKS

Firm?s Bank Finance Practice Advises on Fifth Financing Over ?2B Inside 18 Months

July 27, 2005

White & Case advised global supermarket and retail operator Royal Ahold N.V. in connection with its five-year ?2 billion multi-currency syndicated credit facility, as arranged by a syndicate of banks.

BNP Paribas took the lead on negotiations in the arrangement of the facilities in a syndicate of 15 banks, which also included ABN AMRO, Bank of America, Citigroup, ING, JPMorgan and Rabobank, with Bank of America as Agent.

The financing marks a significant return to growth for Ahold. Its 'Road to Recovery' programme has been focussed on a long-term strategy of reducing debt by selling off its non-core or unprofitable businesses. The company intends to use this facility for general corporate purposes and for the issuance of letters of credit.

The transaction is the fifth multi-billion Euro financing White & Case?s Bank Finance practice has advised on in the last 18 months. Other notable examples include the US$3.3 billion refinancing of UPC, the US$1.8 billion refinancing of Telewest and the provision of ?2.45 billion of senior credit facilities to NTL Investment Holdings Ltd, three of the largest telecoms refinancings in recent memory.

Commenting on the Ahold transaction, Maurice Allen, White & Case?s lead partner on the deal and co-head of its Bank Finance practice, said, 'Ahold?s return to the debt market is a significant landmark in its rebuilding strategy. Fulfilment of the prerequisites of both parties involved in the transaction demanded that a balance between financial security and flexibility was accomplished to create a workable deal.'

Working closely with Maurice Allen on the transaction was lead associate, Martin Kimchi.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers in 38 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Dan Cade

Media Relations, White & Case

44 0 20 7532 2848

dcade@whitecase.com

Read more…

WHITE & CASE ADVISES ON ?860M FRENCH PRIVATE EQUITY DEAL

July 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ADVISES ON ?860M FRENCH PRIVATE EQUITY DEAL

Eurazeo and Carlyle Group Poised to Sell Terreal

July 26, 2005

White & Case?s Paris office is advising Eurazeo and Carlyle Group, in their sale of Terreal S.A. to LBO France, for an enterprise value of ?860 million. This will be the latest in a string of successive buy-outs from private equity houses in the French market, matching the equally buoyant conditions present in the rest of Western Europe.

Terreal is the second largest terra cotta tile manufacturer in France, with a market share of 35 percent. It was purchased as a joint venture between Eurazeo and Carlyle Group in October 2003, for ?515 million. Last year Terreal?s sales grew by 10 per cent to ?371 million.

'The deal is indicative of the current state of the buy-out market in France. Right now we have perfect market conditions: a stable economy, companies that are performing well, investors that are lending and more new entrants to the market than ever before', said Paris partner Francois Leloup, lead partner on the transaction.

According to Thomson Financial, Eurazeo was France?s largest investment firm in terms of invested capital in 2003, and participated in Europe?s largest LBO in 2004: the acquisition of Rexel, alongside Clayton Dubilier & Rice and Merrill Lynch. Washington-based Carlyle Group is one of the world?s largest private equity firms, with 31 funds and more than ?29.6 billion under management.

Confirmation of exclusive talks between the trio of private equity firms were announced on July 14th, with the sale expected to be finalised by the end of October.

In addition to Leloup, Paris senior associate Nicolas Huet also advised on the deal.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers in 38 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Dan Cade

Media Relations, White & Case

44 0 20 7532 2848

dcade@whitecase.com

Read more…

WHITE & CASE GEARS UP FOR AFRICAN GROWTH WITH NEW LEADERSHIP IN JOHANNESBURG OFFICE

July 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE GEARS UP FOR AFRICAN GROWTH WITH NEW LEADERSHIP IN JOHANNESBURG OFFICE

Firm Focuses on Natural Resources Expertise to Drive Growth

July 15, 2005

White & Case is bolstering its Johannesburg team in preparation for a concerted drive in the sub-Saharan region. In the move, partner Tanneke Heersche will be appointed to the role of executive partner for the office, with an additional three associates joining the practice. The new additions will increase the number of on-the-ground lawyers in White & Case?s South African office to 9 lawyers.

Commenting on the expansion, the member of the Firm?s Global Management Board responsible for the Johannesburg office, Philip Stopford, said, 'Not only is there significant additional demand in South Africa but across the continent as a whole and we see the region as a critical market. Developments in the Middle East have encouraged Western nations to look afresh at the potential of Africa. At the same time, the emergence of consumer economies in China and India is rapidly driving growth in demand for natural resources. There has been rapid growth in the volume of international work, as well as lender appetite in the region for energy and natural resource projects. In light of this we are relocating a proportion of our energy and global natural resources expertise to where it can benefit our clients most as they themselves increase their level of activity in Africa.'

Tanneke will relocate from the Firm?s London office where she is joint head of its Metals and Mining practice group along with partner Glen Ireland. She joined the Firm in 2003 and is highly regarded for her expertise and experience in the mining and metals industry, with an emphasis on advising on all aspects of the development and financing of mining and other natural resource projects. Tanneke was named as one of the world?s leading mining lawyers by Chambers UK 2004/5 and is recognised as a leading legal advisor to the mining and metals industry by both the UK Legal 500 and Legal Research?s Who?s Who of Mining Lawyers, 2004.

In conjunction with Tanneke?s move, three associates will also begin work in Johannesburg, with Chris Langdon and Saul Daniel relocating from the Firm?s London office. Chris?s practice is focussed principally on project finance and development in the metals and mining industry. He also has extensive experience in mergers, acquisitions and joint ventures. Saul has considerable experience advising governments, utilities, developers and lenders on international natural gas projects particularly in Africa and the Middle East. His experience covers the electricity, LNG, gas and water sectors. The Firm has also recruited associate Celeste Peverett. Celeste has experience in international bank finance, representing banks, financial institutions and corporations in a wide range of domestic and cross-border financing transactions including secured and unsecured syndicated financings.

One of the few international firms with a significant on-the-ground presence in Africa, White & Case has a long history of advising on landmark deals on the continent. Most recently the Firm advised the International Finance Corporation (IFC) and the Government of Mozambique in the awarding of a development concession for the Moatize Coal Project in Mozambique. CVRD, a leading iron ore producer and one of the world?s largest diversified resource groups, was mandated following a successful bid of US$123 million.

In addition, the Firm has been advising in regard to the intended introductions of IPP?s into South Africa and in respect to a potential new bespoke power project utilising gas from a captive field in the South-West African region.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers in 38 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Dan Cade

Media Relations, White & Case

44 0 20 7532 2848

dcade@whitecase.com

Read more…

WHITE & CASE ACTS ON TURKEY'S LARGEST EVER SECURITISATION

July 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ACTS ON TURKEY'S LARGEST EVER SECURITISATION

$1.433 Billion Deal also Largest Wrapped Bond by Turkish Borrower

July 13, 2005

White & Case has acted on Turkey?s largest ever securitisation, advising WestLB as global coordinator and initial purchaser in a $1.433 billion Regulation S/Rule 144A offering of guaranteed floating rate notes issued by Akbank via A.R.T.S. Ltd. ('A.R.T.S.'), a Jersey-based special purpose vehicle. Akbank is one of Turkey?s leading financial institutions.

Completion of the deal means that White & Case has acted on three of the most significant financial transactions in Turkey this year, having previously advised Cukurova Holding A.S. ('Cukurova'), a Turkish holding company, in its sale of a controlling stake in Yapi ve Kredi Bankasi A.S. ('YKB') to Koc Financial Services A.S. ('KFS') for ?1.16 billion, and then acted for Cukurova in a $3.3 billion financing deal with Alfa Group, one of Russia?s largest privately owned financial and industrial conglomerates. The latter transaction is believed to be the largest amount of debt ever raised by a Turkish company, with the sale of the stake in YKB viewed as the most significant Turkish M&A transaction in recent memory.

The note offering was issued in eleven separate tranches under A.R.T.S.?s future flow securitisation programme, with the receivables being banking-related receivables due to Akbank. In addition the bonds were 'wrapped', with four mono-line insurers (Ambac Assurance Corporation, CIFG Europe, MBIA Insurance Corporation and XL Capital Assurance) guaranteeing all but two of the tranches. Wrapped notes provide additional security for investors and receive higher credit ratings.

Alongside the offering the A.R.T.S. securitisation programme was comprehensively restructured and re-organised, allowing for the issue of bonds by A.R.T.S. Ltd., in addition to its existing ability to raise bank financing.

White & Case fielded a 13-strong team in New York, London and Istanbul to advise on the deal. The team was led by London partner David Barwise and Istanbul partner Mine Taygun.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers in 38 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete devotion to the business priorities and legal needs of our clients.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Read more…

WHITE & CASE ADVISES ABU DHABI WATER & ELECTRICITY AUTHORITY ON $2.9 BILLION PROJECT FINANCING

July 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ADVISES ABU DHABI WATER & ELECTRICITY AUTHORITY ON $2.9 BILLION PROJECT FINANCING

Fifth ADWEA IWPP Project on which White & Case has Advised

July 7, 2005

White & Case represented the Abu Dhabi Water & Electricity Authority (ADWEA) and the government of the Emirate of Abu Dhabi as international counsel in relation to the $2.9 billion project financing of ADWEA?s fifth independent water and power project (IWPP) and third asset sale - Taweelah B. The transaction, which closed in Abu Dhabi on July 6, includes the financing of the acquisition from an ADWEA subsidiary of an existing 1,070 megawatt (MW) and 95 million imperial gallons per day (MIGD) power generation and seawater desalination plant, the construction by the purchaser of a 1,045 MW and 65 MIGD plant extension and the operation of the integrated facility situated at the Taweelah complex in the Emirate of Abu Dhabi.

'With the financial closing of Taweelah B, ADWEA?s scorecard is five IWPP projects completed door to door in eight years. That?s over $1.8 billion of equity invested in Abu Dhabi?s power generation and water production sector; over $6.4 billion of debt raised for the sector on a project financed basis; about 3,400 MW and 200 million gallons per day of new power generation and water production capacity installed since ADWEA?s privatization program began in mid-1997, with another 2,600 MW and 95 MIGD on target to be installed by mid-2008,' said project finance partner Alexander Kritzalis, who heads White & Case's Middle East practice and led the team advising ADWEA and the Abu Dhabi Government. 'ADWEA has also raised more than $3 billion from the proceeds of asset sales, including the $1.69 billion purchase price just paid for the Taweelah B plant. As developers and lenders will attest, this is a remarkable achievement for any sovereign water and electricity authority.

And Kritzalis said that the ADWEA isn't finished with IWPPs yet.

'Literally as the Taweelah B closing was underway, ADWEA released to over 20 pre-qualified companies its request for proposals for its sixth IWPP project - and fourth asset sale - with a bid deadline of November 15, 2005,' said Kritzalis.

The purchaser of Taweelah B, Taweelah Asia Power Company, is a new UAE equity joint venture, of which 40% is owned jointly by subsidiaries of Marubeni Corporation, BTU Power Company, Powertek Berhad and JGC Corporation and 60% is owned by a new ADWEA special purpose holding company. Capacity and output will be sold by the purchaser to the Abu Dhabi Water and Electricity Company (ADWEC), another ADWEA subsidiary, under a 20-year power and water purchase agreement. ADWEC is the 'single buyer' for the Emirate of Abu Dhabi?s privatized water and electricity sector.

The financing package for Taweelah B includes a 20-year $1.2 billion loan provided by Japan Bank for International Corporation (JBIC) - reported to be JBIC?s largest in the power sector and its first in UAE on a project financed basis - along with a $940 million syndicated commercial debt facility and an equity bridge financing of $527 million. The lead arranging group for the syndicated commercial debt facility is comprised of 15 international, regional and local financial institutions, with Standard Chartered, BNP Paribas and KfW acting as mandated lead arrangers.

The scheduled commercial operation date of the new integrated Taweelah B facility is set for mid-July 2008.

In addition to Kritzalis, the other members of the White & Case team on Taweelah B are New York associate Sean Wang, London partners Jason Kerr and Ellis Baker and London associates Tom Patrick and Scott Chalmers.

White & Case previously represented ADWEA and the Abu Dhabi government as international counsel in connection with the $1.77 billion Umm Al Nar IWPP project which closed in July 2003. That project - ADWEA?s second asset sale - was named '2003 Water/Power Deal of the Year' for the Middle East by Project Finance.

The firm also advised ADWEA on its Taweelah A2 project, Abu Dhabi's (and the world's) first IWPP project, which closed in April 1999; the Taweelah A1 project, Abu Dhabi's second IWPP and first asset sale, which closed December 2000; and the Shuweihat S1 IWPP Project which closed in December 2001. Those projects were respectively named '1999 Water/Power Deal of the Year for the Middle East', '2000 Power Deal of the Year for Europe, the Middle East and Africa' and '2001 Power and Water Deal of the Year for the Middle East' by Project Finance.

White & Case is currently advising ADWEA and the Government in connection with their sixth IWPP project, the sale of an existing 535 MW and 100 MIGD power and desalination plant in the Emirate of Fujairah owned by an ADWEA subsidiary and the addition of up to 225 MW of additional power capacity. Financial close is targeted for mid-July 2006 and commercial operation of the expanded plant is targeted for mid-2008.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers in 38 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete devotion to the business priorities and legal needs of our clients.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

WHITE & CASE SCOOPS AWARD DOUBLE

June 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE SCOOPS AWARD DOUBLE

Firm Named 'US Law Firm of the Year,' with Qatargas II Team Named 'Infrastructure Team of The Year'

June 30, 2005

White & Case this week garnered two prestigious accolades at the annual awards staged by UK legal magazine, The Lawyer. The Firm was named 'US Law Firm of the Year' for its stellar commercial performance in the UK, driven by positive management, heavy investment in building the Firm's London operations and a clear and unerring focus on client service.

In addition, the White & Case team that advised the sponsors, ExxonMobil and Qatar Petroleum, on the leviathan Qatargas II liquid natural gas project financing was named 'Infrastructure Team of the Year' for its role in bringing the landmark deal to a successful close. The transaction is the largest ever energy project financing and the third largest project financing ever completed and set numerous technical precedents.

Commenting on the double win, Peter Finlay, Senior Partner at White & Case in London said: 'We've invested heavily in London during the last few years to meet the needs of our clients. Four-and-a-half years ago we had 60 lawyers in London, now we have more than 250. London is a critical hub for us in terms of servicing clients effectively and efficiently in our global network and we're delighted that both our commitment and success here continue to be recognised.'

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2005, in both Russia and Hungary by IFLR magazine. In June 2005 the Firm was named US Law Firm of the Year by The Lawyer magazine.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Read more…

LEGISLATION FALLS SHORT IN PROMOTING NEEDED ENERGY INVESTMENT SAYS WHITE & CASE LAWYER

June 2005. Press Releases by White & Case LLP (view listing).

LEGISLATION FALLS SHORT IN PROMOTING NEEDED ENERGY INVESTMENT SAYS WHITE & CASE LAWYER

Political Battles Over Siting Make Energy Companies Reluctant to Invest in Needed Infrastructure

June 28, 2005

Despite today?s passage by the US Senate of a federal energy bill that aims to increase domestic energy production and reduce US dependence on foreign oil, major impediments to spur efficient energy investment remain, says a noted energy lawyer with White & Case.

Even with dwindling domestic energy reserves and increased worldwide consumption, energy companies are reluctant to invest significantly in proven solutions such as liquefied natural gas or advanced coal technologies because of ongoing opposition to such projects in the United States, according to White & Case energy partner Stuart Caplan.

'The unsettled state of deregulation in the United States and the ongoing legal and political battles over jurisdiction and siting of new infrastructure projects such as LNG terminals or nuclear power plants place real limits on the industry?s ability to meet energy demand. Enlightened regulators must approach each siting and competition policy decision with a new sense of urgency or the Energy Bill will prove to be too little too late,' says Caplan.

Caplan adds that while consumers and politicians alike talk about the need for cleaner, more affordable energy, when energy companies begin talking about actually building wind power, LNG or clean coal facilities at a particular site or region, the opposition is sometimes so strong companies can?t even get beyond a feasibility study, let alone solicit financing.

'Federal legislation alone will not provide the answer. The patchwork of local, state and federal legislation must be woven into a common solution. If Congress clarifies FERC?s authority to site LNG import terminals and bolsters renewable resources, it doesn?t necessarily mean they can be built quickly. State and local leadership will still play a key role in federal proceedings that can cause extensive delays and regulatory risk,' says Caplan. 'The bottom line is that growing demand for energy will force regulators state-by-state to site new generation and transmission projects or to risk serious economic, supply security and environmental consequences. These consequences may prove politically more volatile than short-term, local concerns.'

In addition to tackling the politics of siting, Caplan says the US must provide for wholesale power markets that will reward efficiency and provide incentives for energy investments. A U.S. Department of Energy study shows that the open market approach saves consumers more than $13 billion a year over the traditional regulated market paradigm. But more needs to be done.

'We are in an awkward transition between the old days of regulated monopoly and competitive markets. If we do not provide developers and Wall Street with a stable competitive framework for long-term investments, they simply will not make the investments necessary to meet our growing needs until the supply and demand balance becomes dangerously tight and market premiums balloon,' says Caplan. 'The longer regulators continue to say 'no? or go slow, then the more acute the economic, supply security and environmental impacts will be when the US has to rush to catch up on investing.'

White & Case helps clients to develop and finance energy projects, increase margins and access to markets, and to decrease costs. The Firm?s lawyers are involved in myriad energy transactions, including generation projects, renewable resource development, transmission projects, utility/energy company mergers, asset dispositions, other sector financings, restructuring and workouts, market development, and power purchase, fuel supply, transportation, interconnection, transmission, scheduling, hedging and reliability-must-run arrangements. White & Case represents energy clients in FERC and state utility commission proceedings. It also has a leading role in advising on the world?s largest LNG projects.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

WHITE & CASE ADVISES ON GERMAN DEFENSE INDUSTRY PFI FIRST

June 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ADVISES ON GERMAN DEFENSE INDUSTRY PFI FIRST

Firm Predicts Increase in Deployment of PFI Model by German Government

June 27, 2005

White & Case represented a consortium of four leading manufacturers in the defense and flight simulator industry on one of the first private finance initiatives (PFIs) with the German Ministry of Defense and the first for the construction of flight simulators.

Under the terms of the deal the Ministry has entered into an 18-year operating agreement with a German consortium, Flight Helicopter Training Services GmbH, worth an aggregate value of approximately ?488 million. The consortium consists of CAE Inc. of Canada, Eurocopter (EADS) of Germany, Rheinmetall Defense Electronics of Germany and Thales of France. Bayerische Landesbank provided the financing of ?175.5 million.

Initially, four simulators will provide the necessary training capacity to army and navy helicopter pilots for the new NATO NH 90 transport helicopter. With a total of 345 fixed orders and 86 options from 11 countries, the NH 90 - which took its maiden flight in May 2004 - is capable of performing assault, transport and search and rescue missions. In the past the German government has tended to use PFIs for motorway construction. However, this transaction and others like it illustrate the diversification of the PFI model in Germany.

Four White & Case European offices provided advice on the transaction, led in Frankfurt by partner Stephen Hodgson and associate Le?la R?der. Support was provided in London by partner Ellis Baker and associate James Bremen, in Paris by partner Paule Biensan and associate Natalie Noel and in Berlin by partner Norbert Wimmer and associate Arne Gniechwitz.

'Historically the German government has primarily deployed private finance for transport infrastructure development. However as both public and private sector participants become increasingly familiar with the PFI model, it is spreading into new areas. We believe Germany will see a rapid rate of growth in the adoption of the PFI model in the next 18 months,' said Hodgson.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2005, in both Russia and Hungary by IFLR magazine.

Contact:

Dan Cade

Media Relations, White & Case

44 0 20 7532 2848

dcade@whitecase.com

Barbara Gruber

Media Relations (Germany),

White & Case LLP

49 40 350 05 384

bgruber@whitecase.com

Read more…

WHITE & CASE IN MAMMOTH $3.3BN TURKISH FINANCING

June 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE IN MAMMOTH $3.3BN TURKISH FINANCING

Transaction Believed to be the Largest Amount of Debt Ever Raised by a Turkish Company

June 23, 2005

White & Case's Istanbul team is acting for Cukurova Holding A.S. ('Cukurova'), a major Turkish holding company, in a $3.3 billion financing deal with Alfa Group, one of Russia's largest privately owned financial and industrial conglomerates. In the two-part transaction, Alfa Group granted Cukurova a $1.707 billion six-year term loan, as well as purchasing $1.593 billion of convertible bonds issued by a Cukurova subsidiary, with a maturity date of 2011. The bonds can be converted 18 months after issuance and give Alfa Group the opportunity to take an indirect 13.22 per cent stake in Turkcell, Turkey's leading mobile telephony operator.

The transaction is subject to regulatory approvals and is expected to complete in the third quarter of 2005. Cukurova will use the sum raised to repay its debt to the Turkish State Deposit Insurance Fund and to repurchase the Turkcell shares held by Yapi ve Kredi Bankasi A.S., a Turkish bank in which Cukurova formerly held a controlling stake.

Turkcell is Turkey's only New York Stock Exchange quoted company (symbol: TKC), holds an approximate two-thirds share of the Turkish mobile telephony market and reported revenues of $3.2 billion for 2004.

The financing is the second major transaction that White & Case has advised Cukurova on in as many months, with the two deals totaling $4.71 billion: White & Case recently advised Cukurova in its sale of a controlling stake in Yapi ve Kredi Bankasi A.S. to Koc Financial Services A.S. for ?1.16 billion (approximately $1.41 billion).

'Not only is this one of, if not the largest ever debt financing implemented by a Turkish company, but it is also highly innovative. The structure of the transaction enables Cukurova to retain its controlling stake in Turkcell, while simultaneously capitalising on the interest it holds in the business to meet its financial obligations to the Turkish State Deposit Insurance Fund and put itself in a positive position for future growth,' said White & Case partner Emre Derman, who is advising Cukurova on the deal.

In addition to Derman, the White & Case team acting for Cukurova are Istanbul associates Isil Okten and Galip Selcuk and London-based associate Elizabeth Porcher.

About White & Case

White & Case LLP is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications. In January, 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year in both Russia and Hungary by International Financial Law Review.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Tuna Banas

White & Case

Turkey

90 212 275 7533

tbanas@whitecase.com

Read more…

WHITE & CASE RANKS IN TOP SPOTS IN CHAMBERS USA 2005 SURVEY

June 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE RANKS IN TOP SPOTS IN CHAMBERS USA 2005 SURVEY

June 23, 2005

White & Case LLP ranked among the top US law firms across numerous legal practice areas in the third survey of the US legal profession by Chambers USA: America?s Leading Business Lawyers.

In Chambers USA?s first-ever National US rankings for Arbitration, Projects and Trade practices, White & Case ranked in a Tier 1 position for Arbitration and Tier 2 for both Projects and Trade.

In State practice rankings, the Firm?s New York IP practice jumped two tiers, to Tier 2. The California Energy practice advanced from Tier 2 to Tier 1, and the District of Columbia Projects practice maintained its Tier 1 position. Overall, the Firm?s practice rankings in Chambers since 2004 for the top two tiers have soared by 50 percent, as White & Case continues to both grow and strengthen its core practices. Since 2003, White & Case's practice rankings in Chambers USA has increased more rapidly on a percentage basis than those of any other law firm.

To see the Firm?s rankings, click here.

Chambers USA is an annual directory of leading US business lawyers, published by London-based Chambers and Partners. Chambers directories are widely recognized for their research-based, objective and independent guides to law firms and individuals.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

CONSTITUTION'S REJECTION PORTENDS STALL IN EUROPEAN INTEGRATION

June 2005. Press Releases by White & Case LLP (view listing).

CONSTITUTION'S REJECTION PORTENDS STALL IN EUROPEAN INTEGRATION

Alastair Sutton, White & Case EU Law Authority, Sees Period of Drift

June 22, 2005

The failure of the European Constitution in recent referenda in France and the Netherlands is a 'grave setback for European integration,' but is unlikely to lead to the European Union's disintegration, according to White & Case partner Alastair Sutton, a leading authority on EU law.

In a white paper analyzing the causes and effects of the resounding electoral defeats of the Constitution in two of the EU's core Member States, Sutton, a lawyer in Brussels for 32 years, half that time working inside the European Commission, says strong political leadership is essential now to move the 'European project' forward. However, he cautions, there currently does not appear to be the political will among the Member States to summon the necessary leadership.

'The rejection of the Constitution by the French and Dutch electorates is a grave setback for the process of European integration, [but] it nonetheless needs to be placed in perspective,' Sutton states in his analysis. 'If further integration is likely to be on hold, the prospects of disintegration, at least in the short term, are equally remote. The most likely outcome is 'standstill' rather than 'rollback.''

Sutton, who prior to going into private practice held numerous EC posts, including head of the financial services department, and who teaches European and international trade law at University College London, said that the Constitution was a scapegoat that fell victim to the 'wider European malaise': the notion that the institutions of the EU are remote from the concerns and unresponsive to the will of Europe's citizenry.

Sutton notes: 'The remarkable progress achieved over the last 20 years has come at a price, that is generally expressed in terms of the 'democratic deficit,' whereby the 'broadening and deepening' of European integration (more Member States, an increasingly diverse and technical agenda, more jargon and acronyms, un-transparent committees, increasingly voluminous legislation) have given the public an impression of a system that is irrelevant to them and beyond their control.'

Sutton cautions that, while the setbacks for Constitution will stall progress, Europe can ill-afford an extended period of 'navel-gazing, leading to weakness through fragmentation.' The challenges of the Europe's transatlantic relationship with the United States and the emergence of Asian economic superpowers in China and India underscore the 'fast-moving, dangerous and competitive global situation in which the EU now finds itself.'

Sutton expects that further EU enlargement will be put on indefinite hold: the timeline for Bulgarian and Romanian accession in 2007 is questionable, and eventual membership for Turkey and the Western Balkan applicants is increasingly in doubt.

The task ahead in the short term is to retrench and consolidate: 'In due course,' Sutton writes, 'the debate will have to be resumed in order to define the EU's future. Old assumptions can no longer be taken for granted. The EU needs a new raison d'?tre, in a fiercely competitive, rapidly changing, globalized world. Disintegration is clearly not the answer; but the form and content of the 'European project' needs urgent revision, with better communication between national elites and European citizens.'

To read the white paper: 'Treaty establishing a Constitution for Europe', please visit http://www.whitecase.com/EUwhitepaper.

About White & Case

White & Case LLP is a leading global law firm with nearly 1,900 lawyers in 38 offices located in 25 countries throughout the world. White & Case's European law practice, centered in Brussels, provides extensive capabilities in EU law and institutions to the Firm's clients worldwide, with an emphasis on litigation in the European Court, antitrust, mergers and acquisitions, and state aid. The practice provides in-depth counsel on EU and Member State requirements governing trade, competition, the environment, labor and intellectual property.

Contacts:

Roger Cohen

Worldwide Director - Media Relations and Communications

White & Case

1 212 819 9732

rcohen@whitecase.com

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Jean Peeters

Marketing Manager

White & Case LLP

Avocats-Advocaten

32 2 209 02 78

jpeeters@whitecase.com

Read more…

WHITE & CASE ADVISES AVIATION CAPITAL IN $2.65B ACQUISITION OF BOULLIOUN AVIATION SERVICES

June 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ADVISES AVIATION CAPITAL IN $2.65B ACQUISITION OF BOULLIOUN AVIATION SERVICES

June 17, 2005

White & Case LLP announced that it has advised Aviation Capital Group Corp. in its completed $2.65 billion acquisition of Bellevue, WA-based Boullioun Aviation Services from German bank WestLB AG.

The Firm advised Aviation Capital Group (ACG) on all aspects of the transaction, including the acquisition, financing, various tax and regulatory matters around the world and the Export Credit Agencies negotiations in Europe. The transaction included, among other things, the acquisition of 102 commercial aircraft, 11 Airbus airplanes currently on order, various management contracts and other assets of Boullioun Aviation Services.

Newport Beach, California-based Aviation Capital Group is a subsidiary of Pacific LifeCorp., the parent company of Pacific Life Insurance Co. It decided to acquire Boullioun, an aircraft leasing company, to help solidify its spot as one of the top five aircraft operating lessors in the world.

'This transaction was one of the most complex I?ve seen in twenty-five years of practice,' said M&A lawyer Tony Kahn, who led the White & Case team advising ACG. 'It began with the bidding process, which started in the fall of 2004, and involved diligence with respect to over 100 aircraft leases to approximately 45 airlines around the world and a thorough analysis of Boullioun?s existing securitization transaction. The bidding process pitted ACG against a number of industry giants and involved a simultaneous negotiation with ACG?s funding sources to negotiate the relevant terms sheet with prospective lenders.'

The financing utilized by ACG was an important factor in ACG?s ability to submit a bid that was accepted by West LB over many competing bids. The credit facility involved many of the same structural and security issues present in a securitization transaction (including the creation of a bankruptcy remote borrower trust, true sale and non-consolidation opinions, lessee consents and local counsel opinions). Simultaneously with the closing of the transaction, existing ECA loan facilities for certain Boullioun aircraft were modified to enable them to remain in effect and additional ACG-owned aircraft were contributed to the borrower trust.

White & Case aircraft finance partner Mike Smith said: 'The requirement that the many different pieces of the financing and the acquisition all occur simultaneously put enormous pressure on the completion of the deal. If even one small piece of the multi-faceted financing arrangements was not in place, it could have jeopardized the entire closing.'

Noting some of the unusual complexities that arose, Kahn added: 'For example, a hydraulic problem with an aircraft leased to an Australian carrier led to an unexpected grounding of a plane in Darwin, Australia, that could have led to a significant tax problem. Fortunately, the aircraft was repaired and got airborne with less than 15 minutes to spare.'

WestLB has owned Boullioun since 2001, when it purchased Boullioun from Deutsche Bank. White & Case represented Deutsche Bank on that sale.

Deutsche Bank Securities acted as the financial advisor to ACG. Deutsche Bank, UBS and HSH Nordbank are providing funding for the acquisition.

White & Case partners advising Aviation Capital Group: Anthony Kahn, David Joyce, Mike Smith, Sylvia Chin and John Lillis (New York); Thomas McDonald (Paris).

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

As one of the most active law firms in the world in M&A transactions, White & Case has taken the lead in devising creative deal structures, designing acquisition programs and planning and implementing strategies for both acquirers and potential acquisition targets in domestic and cross-border transactions. These transactions often involve global due diligence and regulatory approvals, particularly from competition authorities. In Thomson Financial?s 2004 year-end league table summary of legal advisor activity, W&C ranked 2nd with 280 successfully completed deals.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

NEW PARTNER CHRISTOPHER KANDEL BOOSTS WHITE & CASE'S BANK FINANCE PRACTICE

June 2005. Press Releases by White & Case LLP (view listing).

NEW PARTNER CHRISTOPHER KANDEL BOOSTS WHITE & CASE'S BANK FINANCE PRACTICE

Firm also Grows Team by 10 Percent with Raft of Associate Hires

June 13, 2005

White & Case?s booming London Bank Finance practice has made a major addition to its rapidly growing team with the arrival of partner Christopher Kandel. Kandel, who focuses on complex international leveraged finance transactions, is dual-qualified under both English and US law and will add to the team?s already significant experience in this growth market.

During the last four years, White & Case?s London Bank Finance team has experienced dramatic growth and now regularly acts on headline deals in the market. In February 2005 the team was named Banking and Finance Team of the Year at the Legal Business Awards. In addition to Kandel, the team is also welcoming four new associates from four other firms. The new arrivals bring the total number of fee-earners in the practice to 52, including eight partners. At the beginning of 2004 the team numbered 38 fee-earners.

Kandel?s experience includes senior and mezzanine acquisition and leveraged finance; high yield securities; bridge facilities; receivables securitisations and other structured financings; corporate acquisitions and disposals; venture capital; distressed debt trading; and other banking, project finance, export credit agency, capital market and restructuring matters.

'We?ve grown our practice fast in the last few years by responding quickly to what clients in the London market want. Chris?s arrival is a continuation of this strategy: all aspects of the leveraged finance market are booming, from senior through to subordinated debt, and demand from our clients in this area is soaring,' said Mike Goetz, co-head of White & Case?s Bank Finance practice in London. 'We?ve responded by increasing our resources through hiring Chris, who is not only an extremely respected lawyer in the market, but who also has a very strong overlap with our client base. We have plans to keep expanding the team to match client demand, and will be taking on additional members at a variety of levels in the areas of senior and high yield debt in the near future.'

Before joining White & Case, Kandel was a finance partner at three other law firms. He is a magna cum laude graduate of Yale College and a cum laude graduate of Cornell Law School and is admitted to practise law in England and Wales, the states of California and Maryland and the District of Columbia.

The most recent associates joining White & Case?s Bank Finance practice are: Martin Brown; Nicole Whiting; Jeremy Duffy; and Ranbir Bhangu. In 2004, the London Bank Finance team took on eight associates.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2004, in both Russia and Hungary by IFLR magazine.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Dan Cade

Media Relations Assistant

White & Case

44 0 20 7532 2848

dcade@whitecase.com

Read more…

WHITE & CASE ACTS ON LANDMARK ?1.16 BN TURKISH BANK ACQUISITION

June 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ACTS ON LANDMARK ?1.16 BN TURKISH BANK ACQUISITION

Deal Highlights Growth Prospects Within the Turkish Market

June 13, 2005

In what represents the most significant M&A transaction in recent memory in Turkey, White & Case advised Cukurova Holding A.S., a Turkish investment company, in its sale of a controlling stake in Yapi ve Kredi Bankasi A.S. (YKB) to Koc Financial Services A.S. (KFS) for ?1.16 billion.

KFS is a Turkish-Italian joint venture between Koc, a Turkish industrial group, and Italian bank Unicredito, with each holding an equal share. Under the terms of the agreement, KFS will acquire a controlling stake in YKB through purchasing 44.53% of the shares in YKB from Cukurova Group and an additional 12.89% from the Savings Deposit and Insurance Fund, a Turkish government entity. Completion of the share purchase is subject to regulatory approval.

The deal was signed on May 8th, 2005.

'Bank M&A has been very active in the last couple of years in Turkey and we are proud to have been involved in every major transaction that has closed. This deal was particularly challenging not just because of its size but also because our client is required by the Turkish bank regulator to exit the banking industry by a certain deadline. We are currently working on three other bank acquisitions in Turkey and we expect the trend to continue as Turkey prepares for accession talks with the European Union,' said White & Case partner Emre Derman, who led the team advising Cukurova.

The other members of the White & Case team are associates Isil Okten and Ekin Erdogan in the Firm's Istanbul office and associate Lisa Driver Davidson in the London office.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2005, in both Russia and Hungary by IFLR magazine.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Tuna Banas

White & Case

Turkey

90 212 275 75 33

tbanas@whitecase.com

Read more…

WHITE & CASE LAWYER PIETER BEKKER RECEIVES BURTON AWARD FOR DISTINGUISHED LEGAL WRITING

June 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE LAWYER PIETER BEKKER RECEIVES BURTON AWARD FOR DISTINGUISHED LEGAL WRITING

Fourth Straight Year White & Case Lawyer Has Been Honored

June 7, 2005

Pieter H.F. Bekker, counsel in White & Case?s New York office, has been named recipient of a 2005 Burton Award for Legal Writing Excellence, marking the fourth consecutive year that a White & Case lawyer has won the award.

Bekker, who is a member of the Firm?s global International Arbitration Group in the Firm's New York office, was recognized by the non-profit Burton Foundation for his article 'Uphold Support for World Court,' published in the April 19, 2004, issue of The Baltimore Sun.

The article comments on an important ruling handed down last year by the International Court of Justice, which rebuked the United States in a case brought by Mexico, after discovery that 51 Mexican citizens on death row in US prisons had been denied their treaty-based right to enlist the assistance of a Mexican consular official after arrest by the US authorities. In his Burton-winning article, Bekker points out that the ruling, while appearing to be a setback to the US, actually serves the best interests of the nation and its citizens by upholding the Vienna Convention.

'Pieter's article makes a number of valuable points about the need for nations to abide by their treaty obligations under international law,' said Duane D. Wall, Managing Partner of White & Case. 'Pieter writes clearly and with great eloquence, and we congratulate him on the award, along with the Firm's previous Burton winners.'

The 2005 Burton Awards Program was held in the Great Hall of The Library of Congress on Monday evening, June 6.

The Burton Foundation is a not-for-profit, academic organization concentrating on legal writing. The Burton Awards are dedicated to the refinement and enrichment of writing in the legal profession. The program annually honors lawyers and law students who use clear, concise language. The submissions, nominated by managing partners of law firms and law school deans, include articles published over the past year.

Bekker's article was one of only 30 articles awarded from hundreds submitted.

The award also marks the fourth consecutive year that a White & Case lawyer has received the Burton Award. Last year, the Burton Awards recognized the writing of White & Case lawyer Christopher F. Corr, an international trade lawyer. In 2003, litigation partner Owen Pell received the award, and M&A lawyers John Reiss and Matthew Kautz received the award in 2002.

Bekker's practice concentrates in public international law advice and international dispute resolution involving sovereign and private entities.

Educated and having practiced in both Civil and Common Law, Bekker has been involved in a variety of international procedures, including those of the World Bank's International Centre for Settlement of Investment Disputes (ICSID) and its Additional Facility, the International Court of Arbitration of the International Chamber of Commerce (ICC), and the American Arbitration Association (AAA), as well as arbitrations based on the rules of the United Nations Commission on International Trade Law (UNCITRAL). He has represented major US and European engineering companies both as claimant and respondent in disputes before the Cairo Regional Centre for International Commercial Arbitration (CRCICA). He regularly counsels clients in the drafting of arbitration clauses for international contracts.

A native of The Netherlands, Bekker served for nearly three years as a staff lawyer in the Registry of the International Court of Justice (ICJ), the principal judicial organ of the United Nations located in The Hague. He has been involved in some 20 ICJ cases featuring sovereign states, including four border disputes.

In addition to the Burton Award won by Bekker, Monya M. Bunch (Howard University School of Law Class of 2004) was one of only 15 Burton Award winners in the Law School category. Bunch's article, 'Juvenile Transfer Proceedings: A Place For Restorative Justice Values', appeared in the Spring 2004 edition of the Howard Law Journal. White & Case LLP and Howard University School of Law are proud that Bunch has won the prestigious Burton Award. White & Case and Howard support the mission of the Burton Foundation and have partnered to sponsor the annual Best Published Student Article Award of which Bunch is this year's winner. Each year, the school?s dean and Journal staff select the best article or note published in the Journal and White & Case sponsors a judicial reception at Howard in the winner's honor and gives the winner a significant monetary award. The winning piece is automatically nominated for the Burton Award (http://www.burtonawards.com).

Bekker?s article can be found here:

http://www.whitecase.com/publications/pubs_detail.aspx?pubid=2969&type=Articles

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

NINE WHITE & CASE LAWYERS HONORED FOR PRO BONO WORK

May 2005. Press Releases by White & Case LLP (view listing).

NINE WHITE & CASE LAWYERS HONORED FOR PRO BONO WORK

Annual Awards Recognize Lawyers for Pro Bono Work Across Diverse Fields

May 31, 2005

Nine lawyers at White & Case LLP are to be recognized tonight for their outstanding contributions to pro bono legal service at the Firm?s 2005 Pro Bono Awards.

Lawyers from White & Case offices in London, Mexico City, Miami, New York, and Washington, DC, are being honored for a wide range of work, including securing environmental protections in Latin America and the Caribbean, assisting with the defense of Guantanamo Bay detainees and helping draft and propose a minimum wage amendment to Florida?s Constitution.

'The work of these award recipients represents our efforts to be fully engaged in the needs of the communities where we have a presence,' said White & Case counsel James M. Stillwaggon, who heads the Firm?s Pro Bono Committee.

Award recipients being honored this evening are:

Associates Tara Conklin and Rebecca Stephenson (London) for their work assisting eminent human rights lawyer Clive Stafford Smith with the preparation of a manual to be used by those defending Guantanamo Bay detainees. Conklin was also instrumental in setting up the War Crimes Tribunal Group in the Firm?s London office, which assisted counsel on a war crimes trial in the Hague, relating to the conflict in the former Yugoslavia. Stephenson manages the Firm's participation in the UK in the Citizens Advice Bureau at the Royal Courts of Justice, which represents litigants in civil actions who do not qualify for legal aid.

Associate Mo?s Cherem (Mexico) for his work in a number of matters for local and international non-profit organizations, including the formation of Rainforest Alliance M?xico-Alianza para Bosques, A.C., and Fundaci?n San Ignacio de Loyola, A.C., a not-for-profit dedicated to improving the living conditions of impoverished communities. He also assisted in the incorporation of Fundaci?n del Empresariado de M?xico, A.C., an organization which assists other non-profits with fundraising and general corporate support.

Associate Brian Koch and counsel Rima Mullins (Miami) for their work, with partner Faith Gay, in getting the Florida Minimum Wage Amendment to the Florida Constitution approved by the Florida Supreme Court for placement on the November 2004 ballot. In a 6-1 decision, the court upheld the amendment and its ballot summary as compliant with constitutional and statutory requirements and rejected challenges that the ballot summary was misleading and omitted essential information. In November 2004, the minimum wage amendment was approved by more than 70% of Florida voters. The amendment created a state minimum wage of $6.15, which went into effect earlier this month.

Associate Romas Garbaliauskas (New York) for his involvement as transaction counsel on behalf of The Nature Conservancy for a 'debt-for-nature swap' in Jamaica. This transaction involved the US government forgiving approximately $15 million of Jamaican government debt in exchange for the Jamaican government agreeing to make periodic payments over a 20-year period to fund environmental conservation efforts in the country.

Associate Kara Headley (New York) for her work on a death penalty appeal to the Eleventh Circuit. The Firm has handled this death penalty case since the mid-nineties. In February 2004, the US District Court for the Northern District of Alabama denied a habeas petition and Kara began working on the appeal to the Eleventh Circuit. The appeal is being argued before the Eleventh Circuit on June 2.

Associate Matthew B. Kaplan (Washington, DC), who undertook a referral from the DC Employment Justice Center, a non-governmental organization. Fourteen months and several hundred pro bono hours later, he collected $52,000 in damages and attorney?s fees in a federal lawsuit he filed on behalf of an immigrant from El Salvador who had been underpaid and poorly treated by a deli owner who believed she was unlikely to complain because of language and cultural differences. Kaplan also obtained a reversal of an initial determination by the Virginia Employment Commission that the employee was not entitled to unemployment benefits. Kaplan?s work provided a victory for a member of a community that has traditionally been underserved by the legal system. The firm donated $7,500 of the attorney fee award to the employment justice center.

Associate Ruta Skucas (Washington, DC), for assisting a client in adopting a child who had been in the woman?s care since infancy, but who had never been part of the court system. The biological parents had given the child to our client shortly after his birth, but never filed any legal documents granting her custody. Skucas guided the client through the complexity of the Washington DC Superior Court and expended considerable effort in finding and notifying the birth parents of the adoption. When the birth parents objected, Skucas and her team persuaded the judge that the biological parents' consent was being withheld unreasonably due to their abandonment of the child and lack of involvement in his life. In October of last year, the adoption became final.

White & Case also will recognize the Firm?s Managing Clerk, JoAnn DiSanti, and Marques Tracy, a New York legal assistant, for their many contributions to supporting the Firm?s pro bono efforts.

The awards reception, to be held Tuesday, May 31 at the Princeton Club in Manhattan, will feature a keynote address by Ambassador Morton Abramowitz, a member of the Executive Committee of the International Crisis Group, an independent, non-profit, non-governmental organization working to prevent and resolve deadly conflict.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has a long tradition of leadership and commitment to pro bono law and was among the first firms to appoint an international director, based in London, to develop pro bono activities outside North America.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

EUROPEAN HIGH COURT OVERTURNS SWEDISH PHARMACY MONOPOLY

May 2005. Press Releases by White & Case LLP (view listing).

EUROPEAN HIGH COURT OVERTURNS SWEDISH PHARMACY MONOPOLY

Victory For White & Case Client Krister Hanner and Swedish Retailers In General

May 31, 2005

The European Court of Justice in Luxembourg today issued a decision in favor of White & Case clients Krister Hanner and the Swedish retailers? trade association Svensk Dagligvaruhandel in a test case that challenged the legality of the Swedish state-owned retail pharmacy monopoly, Apoteket.

Private pharmacies are forbidden in Sweden and Hanner was prosecuted for selling a small quantity of the smoking-cessation product Nicorette in a single store, even though Apoteket offers only a limited selection of non-prescription drugs. White & Case argued that the Apoteket monopoly is illegal under EU law by discriminating against foreign goods and restricting the free movement of goods in the EU. They further argued the monopoly hurt consumers because Apoteket has limited hours, locations and non-prescription product choices, making it extremely inconvenient for Swedish shoppers. The Court stated that any monopoly retail network must be organised so that limits on the number of shops do not compromise access to supplies by customers, exactly what Hanner has been saying.

'The Court?s ruling is a victory for consumers, retailers and producers of non-prescription pharmaceuticals, who all suffered under the Apoteket monopoly,' said White & Case partner Rolf Olofsson, who led Hanner?s legal team. 'Even the government?s own studies demonstrated the beneficial effects of giving Swedish consumers more choice, competition and accessibility.'

Apoteket had claimed the monopoly was justified for public health reasons, but Sweden is the only EU Member country to have a pharmaceutical monopoly and other Member States have not experienced any public health problems due to privatized pharmacies.

In its ruling, the Court declared, 'the way in which Apoteket is organised and operates, and more particularly its system of selecting medicinal preparations, is liable to place trade in medicinal preparations from other Member States at a disadvantage as compared with trade in Swedish medicinal preparations. Thus, that State monopoly is not arranged in such a way as to exclude any discrimination against medicinal preparations from other Member States. It thus infringes Article 31(1) EC.'

Olofsson added that in light of today?s decision, his clients will work closely with Swedish and EU authorities to establish a new regulatory regime for pharmacies in Sweden that respects EU law.

In addition to Olofsson, the other members of the White & Case legal team were EU competition specialists Ian Forrester Q.C., James Killick and Linda Hiljemark.

Centered in Brussels, White & Case?s EU practice provides extensive capabilities in EU law and institutions to the Firm's clients worldwide, with an emphasis on litigation in the European Court, antitrust, mergers and acquisitions, and State aid. The practice provides in-depth counsel on EU and Member State requirements governing trade, competition, the environment, labor and intellectual property.

About White & Case

White & Case LLP is a leading global law firm with nearly 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

WHITE & CASE ADVISES ON GERMAN RETAIL ACQUISITION

May 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ADVISES ON GERMAN RETAIL ACQUISITION

May 27, 2005

White & Case is advising Germany?s leading retail group, Edeka Zentrale AG & Co. KG (Edeka), in the acquisition of SPAR Handels-AG (SPAR) and Michaels Schels & Sohn GmbH & Co. KG (Netto S?D) and 25 percent of NETTO Supermarkt mbH & Co. Stavenhagen (NETTO NORD) from the French retail group ITM Enterprises S.A. (Intermarch?).

SPAR, the German grocery chain with 2,000 wholesalers, and NETTO S?D, a discount chain with 1,050 branches, recorded a yearly turnover of ?5.3 billion. NETTO NORD had a turnover of ?900 million in 2004. The companies represent the German operations of Intermarch?, and the acquisition now means that Edeka holds a stake in nearly 20% of the German grocery market. The deal was signed in Germany on April 28.

Concurrent to the acquisition White & Case is also advising Edeka in its participation in a European marketing venture with Swiss company, ALIDIS/AGENOR, which deals with international events based marketing services. Edeka?s partners in the venture are Intermarch? and the Spanish wholesalers Erosi. The three companies have a joint turnover of ?75 billion.

Leading the White & Case team on this deal was M&A-Private Equity partner Markus Hauptmann, who is based in the Firm?s Frankfurt office.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2005, in both Russia and Hungary by IFLR magazine.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Barbara Gruber

Media Relations, White & Case LLP

Germany

49 40 350 05 384

bgruber@whitecase.com

Read more…

HEALTH CARE FRAUD PROSECUTOR KEIR DOUGALL JOINS WHITE & CASE

May 2005. Press Releases by White & Case LLP (view listing).

HEALTH CARE FRAUD PROSECUTOR KEIR DOUGALL JOINS WHITE & CASE

Dougall Served Nearly 10 Years as an Assistant US Attorney in New York and Philadelphia

May 24, 2005

White & Case LLP announced that Keir Dougall, formerly an Assistant US Attorney, recently joined as counsel in the Firm?s New York office.

Dougall served for more than six years as a federal prosecutor in the Criminal Division of the US Attorney?s Office for the Eastern District of New York, where he led a labor racketeering investigation of corrupt union representatives and officials that netted the conviction of 37 defendants. He also worked with pharmaceutical corporations to prosecute and convict an individual who sold millions of dollars worth of counterfeit, trademark infringing and contaminated injectable fertility drugs and contaminated Parkinson?s disease drugs. Dougall further served as the Eastern District?s Criminal Health Care Fraud Coordinator and was responsible for developing and supervising investigations and prosecutions of health care fraud offenses.

?The health care industry is among the nation?s most regulated and compliance with various state and federal rules, including those related to Sarbanes-Oxley, HIPAA and privacy laws, can sometimes be overwhelming. Keir?s vast trial experience and deep understanding of law enforcement efforts and priorities in this area will be invaluable to clients who may have concerns about investigations under health care fraud and FDA statutes,? said Vincent FitzPatrick, head of White & Case?s Global Litigation and Arbitration practice.

Prior to his work as a federal prosecutor in New York, Dougall was an Assistant U.S. Attorney in the Civil Division of the U.S. Attorney?s Office for the Eastern District of Pennsylvania where he litigated, among other things, civil health care fraud and Superfund environmental cleanup cases.

?In addition to his exemplary trial skills, Keir has an advanced degree in electrical engineering, which provides him with a strong background in science and technology, particularly in the area of patents. We find this rare combination of trial skills and technology experience very effective in the patent trial work we do for our clients,? said Dimitrios Drivas, co-head of White & Case?s Global Intellectual Property practice.

Dougall holds a JD from the University of Michigan, and received a BS and masters in electrical engineering from Cornell University.

About White & Case

White & Case LLP is a leading global law firm with nearly 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

WHITE & CASE LITIGATOR TO JOIN UK FINANCIAL REGULATOR AS DIRECTOR OF ENFORCEMENT

May 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE LITIGATOR TO JOIN UK FINANCIAL REGULATOR AS DIRECTOR OF ENFORCEMENT

May 17, 2005

Margaret Cole, partner in White & Case?s London Dispute Resolution practice, is to join the Financial Services Authority (FSA) as its new Director of Enforcement.

Margaret joined White & Case in 1995, starting its dispute resolution practice in London. She is one of the City?s most experienced and respected commercial disputes lawyers, with particular experience in financial services litigation and insolvency matters. Margaret has represented clients on matters related to FSA investigations and decisions and advises banks on matters of financial regulation, risk management and money laundering issues. She is also on the panel of the ACI, the organisation that provides mediators to the FSA and has regularly participated in mediations, either in the capacity of mediator or counsel. Noteworthy cases that she has worked on in the past include:

Leading actions in the 1990s to recover the Maxwell Company pension funds on behalf of the Liquidators. The global settlement was secured and missing funds restored.

Heading a large number of recovery actions in the Liquidation of the Bank of Credit & Commerce International and claims brought in the Administration of British & Commonwealth Holdings plc.

Representing the Royal Bank of Canada in 2004 in High Court proceedings concerning a US$500 million Enron-related swaps transaction.

In her role at the FSA, Margaret will head a team of 200 and report to Chief Executive John Tiner. The Enforcement Division?s work involves conducting investigations into potentially significant regulatory failures by authorised firms or individuals, conducting administrative, civil or criminal proceedings, including action against unauthorised regulated activities and market abuse, and securing redress for consumers where appropriate.

Commenting on Margaret's move, Alistair Graham, Head of White & Case's London dispute resolution practice, said: 'We wish Margaret every success in her move. She has been a driving force in our London dispute resolution practice since arriving to found it 10 years ago and can take much of the credit for making us what we are today: an established, significant and, most importantly, growing force in the London market.'

Margaret will commence her role in July 2005.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications. In January White & Case received the Banking and Finance team of the year award at the Legal Business awards.

Established in the capital ten years ago, White & Case?s London Dispute Resolution practice now numbers nearly 50 lawyers including seven partners. In the last 12 months, the practice has been further strengthened by the arrival of senior industry figures from both within and outside the firm: namely John Higham QC from Stephenson Harwood and Cyrus Benson from White & Case?s New York office. The London Dispute Resolution practice continues to advise on some of the highest profile matters in the UK.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Dan Cade

Media Relations Assistant, White & Case

44 0 20 7532 2848

dcade@whitecase.com

Read more…

WHITE & CASE CLIENT TREK 2000 VICTORIOUS IN PATENT SUIT

May 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE CLIENT TREK 2000 VICTORIOUS IN PATENT SUIT

Singapore High Court Finds Trek?s 'ThumbDrive' Patent Valid, Enforceable and Infringed

May 16, 2005

In a widely watched patent infringement case, White & Case client Trek 2000 International Ltd., an innovator and patent owner in USB portable mass storage technology, achieved a significant patent infringement victory in Singapore over Israel?s M-Systems Flash Disk Pioneers Ltd. and Hong Kong?s Ritronics Components. Singapore?s High Court found Trek?s USB portable mass storage device patent to be valid, enforceable and infringed by M-Systems and Ritronics.

'This victory is significant. Trek?s patent covers USB portable mass storage devices?commonly referred to as ThumbDrives, Trek?s trademark?which have largely replaced floppy discs for storing and transferring data between computers. The market for such devices has grown dramatically over the last few years, and this court victory strengthens Trek?s position in this high-volume market,' said patent litigator Warren Heit, a partner in White & Case?s Palo Alto office representing Trek.

Trek first patented its ThumbDrive in Singapore in February 2000. Subsequent patents for the ThumbDrive have been filed in more than 30 countries, with patents already granted in the US, UK, New Zealand and South Africa.

Heit said that M-Systems and Ritronics countersued, challenging the validity of Trek?s patent, alleging lack of novelty and inventiveness, which is a common response of defendants to infringement proceedings. The Singapore Court rejected the validity challenge, citing Trek?s expert witness testimony that the ThumbDrive offered an exceptional new solution over existing conventional data storage devices, and industry reviews that called Trek?s solution the 'beginning of the end' of floppy discs.

The cases were heard together before Judge Lai Kew Chai in the Singapore High Court, who found in favor of Trek on all counts on May 12, 2005. See Trek Technology (Singapore) Pte Ltd v. FE Global Electronics PTE Ltd and others, and other suits [2005] SGHC 90.

'Singapore is one of the high tech hubs in the Asia Pacific region. This case underscores the importance of the ability to protect innovation through intellectual property in the Singapore legal system. We believe this is first time a Singaporean company successfully enforced a Singaporean patent against foreign defendants in the Singapore High Court,' Heit remarked.

White & Case has one of the oldest and largest IP practices of any full-service firm, with more than 150 practitioners throughout its international network. The Firm has more than 25 patent lawyers who are registered to practice in local jurisdictions around the world, and helps manage more than 20,000 trademarks worldwide.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

The Firm's Palo Alto and San Francisco offices advise clients in a wide range of industries, including technology, energy, telecommunications, consumer products and consulting companies, as well as banks, broker-dealers and mutual fund companies, in six major areas, including: intellectual property; banking and financial services; international equities and global compensation; international employment and benefits; energy, infrastructure and project finance; private equity, and mergers and acquisitions.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

WHITE & CASE BOOSTS GERMAN FINANCE PRACTICE WITH TWO NEW ARRIVALS

May 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE BOOSTS GERMAN FINANCE PRACTICE WITH TWO NEW ARRIVALS

May 13, 2005

White & Case?s Frankfurt office welcomes two new arrivals, adding further strength to the key practice area of finance.

The Firm has appointed Dr. Thomas Flatten as partner in the finance practice of its Frankfurt office. Dr. Flatten adds to the team?s strength in depth and its expertise in real estate and acquisition finance as well as in restructurings.

Stephen Hodgson, finance partner in Frankfurt commented, 'We are delighted to welcome Thomas to our growing finance team. With the additional expertise in international financings, we will be even better placed to serve our client?s needs in Frankfurt in all areas of the finance market, particularly the real estate finance sector.'

The Firm has also appointed J?rg Liesenfeld as an associate in the capital markets team in Frankfurt. J?rg comes to the Firm with three years? experience in debt capital markets as well as a one-year secondment at a leading US investment bank in London.

'J?rg is a great addition to our capital markets team in Frankfurt. His arrival is illustrative of the robust growth of our practice and supports our commitment to expanding further in the leading German financial centre of Frankfurt,' said Jochen Artzinger-Bolten, capital markets partner in Frankfurt.

White & Case?s capital markets practice in Germany will now be headed by Frankfurt partner Jochen Artzinger-Bolten as well as Dr. Volker Land, partner in Hamburg, enabling the previous head of the capital markets practice, Markus Hauptman, to further concentrate on M&A and private equity transactions as well as his managerial role as Executive Partner of the Frankfurt office.

About White & Case ? Worldwide

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the banking and finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2005, in both Russia and Hungary by IFLR magazine.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Barbara Gruber

Media Relations Manager, White & Case LLP

Jungfernstieg 51 (Prien-Haus)

20354 Hamburg

Germany

49 40 350 05 384

bgruber@whitecase.com

Read more…

EMPLOYMENT LAWYER SHARON PARELLA JOINS WHITE & CASE AS PARTNER

May 2005. Press Releases by White & Case LLP (view listing).

EMPLOYMENT LAWYER SHARON PARELLA JOINS WHITE & CASE AS PARTNER

May 11, 2005

White & Case today announced that Sharon Parella has joined as a partner in the Firm?s Executive Compensation, Benefits and Employment Law (ECBEL) practice in the New York office.

Parella counsels on all aspects of employment law. Her practice includes defending employers against discrimination, compensation and other employment claims before both state and federal courts, the Equal Employment Opportunity Commission, fair employment agencies and in proceedings before the New York Stock Exchange and the National Association of Securities Dealers. Her work also focuses on employment issues related to mergers and restructurings.

Parella has extensive experience in drafting and negotiating employment, consulting and settlement agreements and releases. In conjunction with foreign counsel, Parella advises clients regarding US employees abroad and the application of US employment laws to expatriate employees in the US

In addition, Parella counsels clients on issues of discrimination, employee misconduct and sexual harassment and provides training seminars on these and related issues for senior management, executives, human resources professionals, in-house legal counsel and employees. She regularly gives advice on investigations of employee complaints of misconduct.

'In today's litigious workplace environment, employment is an area of the law that is growing in importance,' said Kenneth Raskin, head of the Firm?s Executive Compensation, Benefits and Employment Law Practice Group. 'An employment law practice that also provides in-house training is something that is highly valued by clients, which is why we are so glad to have Sharon join us. If clients have information and are trained about how to handle issues such as harassment, discrimination and other employment law issues, it reduces the risk of liability.'

Raskin added: 'As companies continue to consolidate the number of their outside law firms, our ability to provide full-service employment litigation services will enhance our ability to provide the full range of services that are sought. My goal of having the pre-eminent global ECBEL practice, and the firm's goal of growing our New York office, are both well served by having Sharon join White & Case.'

Parella joins the Firm from the New York office of a prominent law firm, where she was an Employment Law partner.

'White & Case will provide my practice a platform with global breadth,' said Parella. 'Since so many of my clients have significant offices outside of the US, the Firm?s network will allow me to expand and strengthen my client relationships abroad. My clients are extremely excited about my joining a firm with such a strong employment practice group, and the opportunity of having the full services of White & Case.'

About White & Case LLP

White & Case LLP is a leading global law firm with more than 1900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. With more than 90 specialists located in New York, London and 21 other cities throughout the world, White & Case provides both local and global perspectives to compensation and benefits issues.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

WHITE & CASE BOOSTS FRENCH AND REAL ESTATE PRACTICES IN WARSAW WITH ARRIVAL OF TWO PARTNERS

April 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE BOOSTS FRENCH AND REAL ESTATE PRACTICES IN WARSAW WITH ARRIVAL OF TWO PARTNERS

April 21, 2005

Highly experienced partners Jean Rossi and Jolanta Kaleci?ska-Porucznik join White & Case in Warsaw together with a team of four other lawyers, significantly strengthening the Firm?s French practice, as well as its real estate capabilities.

Rossi advises clients in real estate acquisitions and project financing and has extensive experience in finance, corporate and insurance matters. He is vice president of the French Chamber of Commerce and Industry in Poland, responsible for the Chamber?s external relations. He is also president of the Union of French Citizens Abroad (Union des Fran?ais de l??tranger) in Poland. He graduated from Universit? Paris II Assas.

Kaleci?ska-Porucznik focuses on real estate matters, including acquisitions, development, construction and project financing. She also represents clients in litigation and arbitration proceedings in cases involving indemnities, IP and anti-monopoly issues. She graduated from the Warsaw University School of Law.

Both join White & Case from another law firm in Warsaw and they bring with them a four other lawyers: Ms. Ma?gorzata Gajewska, Mr. ?ukasz Chojniak, Ms. Magdalena Baliszewska and Mr. Marcin Walczy?ski.

The arrival of Rossi and Kaleci?ska-Porucznik is illustrative of the continued growth of White & Case in Poland: they are respectively the fifth and the sixth new partners to join the Firm during the last two-and-a-half years. Their arrival not only enhances White & Case?s overall capabilities in the country, but also adds to the Firm?s strengths in its real estate and French practices across Central and Eastern Europe.

'Jolanta and Jean?s arrival is a direct response to increased client demand for services from French-speaking investors in Poland,' said Witold Dani?owicz, executive partner for White & Case?s Warsaw office. 'We?re delighted to have such high calibre players on board.'

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications. In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2005, in both Russia and Hungary by IFLR magazine.

White & Case has been present in Poland since 1991, and is one of the largest international law firms in the country, with more than 50 lawyers based in its Warsaw office, qualified in jurisdictions including Poland, France, Germany and the U.S. The firm provides the full scope of legal advisory services, offering comprehensive support for all business matters, including transactions, litigation, as well as legal assistance in day-to-day company operations. Chambers Global 2003-2004 named White & Case the top law firm in Poland. In November 2004, for the second year in a row Businessman Magazine, a leading Polish business monthly, listed White & Case as the law firm most recommended by competitors in Poland.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Mariusz Kowalski

PR & Communication Specialist

White & Case

W. Dani?owicz, W. Jurcewicz i Wsp?lnicy

- Kancelaria Prawna sp.k.

ul. Marsza?kowska 142

00-061 Warszawa, Poland

48 22 5050 225

48 22 5050 400

mkowalski@whitecase.com

Read more…

M&A LAWYER THOMAS S. HEATHER JOINS WHITE & CASE AS PARTNER IN MEXICO CITY

April 2005. Press Releases by White & Case LLP (view listing).

M&A LAWYER THOMAS S. HEATHER JOINS WHITE & CASE AS PARTNER IN MEXICO CITY

April 15, 2005

White & Case today announced that one of Mexico's leading lawyers, Thomas S. Heather, has joined as a partner in the Firm. Heather will be based in the Firm's Mexico City office.

Heather has ample experience in the areas of restructurings, mergers and acquisitions, banking, securities and corporate governance, in which he has actively participated for more than 20 years. In addition, Heather has been at the forefront of significant alternative dispute resolution and trade-related initiatives.

The addition of Heather will further strengthen the Firm's position in the increasingly important Mexican market and his experience and perspectives will contribute to the excellence for which the Firm is recognized.

White & Case opened its office in Mexico City in 1991, becoming the first international law firm to practice under its own name in the country. Since then, the Firm has continued to grow, and now has a satellite office in Monterrey, the country's prosperous northern industrial center.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

WHITE & CASE ACTS ON $4.5B OF EMERGING MARKET SECURITIES ISSUES

April 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ACTS ON $4.5B OF EMERGING MARKET SECURITIES ISSUES

Capital Markets Team Predicts Bumper Year Ahead Following White Hot 2004

April 15, 2005

White & Case?s Capital Markets team closed no less than twelve emerging market deals in the Europe, Middle East and Africa region in February and early March 2005, illustrating continued investor appetite for emerging markets securities. In 2004, the Capital Markets team advised on more than 40 transactions in Russia, Kazakhstan, Ukraine, Hungary, the Czech Republic, Turkey and Israel alone, building upon its long-standing reputation for excellence in emerging markets to become the firm of choice for investment banks active in the emerging capital markets, as well as for major issuer clients.

The twelve deals closed to date in 2005 confirm that the team is firmly on course to beat last year?s strong performance. In these deals, which had an aggregate value equating to approximately $4.5 billion, White & Case:

Represented the Republic of Hungary on its global issue of $1.5 billion 4.75% Notes due 2015. Offers and sales of the Notes into the United States were registered under the Republic's shelf registration statement on file with the US Securities and Exchange Commission. The transaction was lead managed by Deutsche Bank Securities and Morgan Stanley. The White & Case team was led by partner Mike Dlouh?;

Represented UBS on the $1 billion regulatory capital offering by Sberbank, the second largest ever Regulation S dollar denominated lower tier 2 issue, the largest from Central and Eastern Europe and the first international lower tier 2 issue approved by the Central Bank of Russia. The White & Case team was led by partner Rachel Hatfield;

Represented Deutsche Bank, JP Morgan and ABN AMRO as joint arrangers of a ?1 billion 15-year Eurobond by the Czech Republic. The White & Case team was led by partner Mike Dlouh?;

Represented Citigroup as lead manager in a $200 million Regulation S debut Eurobond offering by JSC Bank CenterCredit of Kazakhstan. The White & Case team was led by partner Francis Fitzherbert-Brockholes;

Represented JSC Lebedyansky, the leading Russian juice producer, in a $150 million offering of ordinary shares. The Company's shares were listed on two of Russia's primary stock exchanges, the RTS and the MICEX. Deutsche UFG acted as lead manager and bookrunner. The White & Case team was led by partner Sven Krogius.

Represented UBS and Merrill Lynch on a $150 million bond issue by Russian bank Alfa Bank. The White & Case team was led by partner Rachel Hatfield;

Represented UBS Limited on a $150 million Rule 144A/Regulation S tap issue for Kazkommerts International B.V. of Kazakhstan. The White & Case team was led by partner Francis Fitzherbert-Brockholes;

Represented Dresdner Bank and UBS Limited as lead managers on a $100 million tap issue, following on from a $150 million Regulation S issue of loan participation notes, due 2009, to fund a loan to Ukraine-based Ukreximbank. The White & Case team was led by partner Francis Fitzherbert-Brockholes;

Represented Israeli fruit preparations business, Frutarom Industries Ltd., in its $91.5 million international Rule 144A IPO of shares and GDRs. The shares are listed on the Tel Aviv Stock Exchange and the GDRs are listed on the London Stock Exchange. The White & Case team was led by partner Josh Kiernan;

Represented CSFB and Merrill Lynch on a $75 million tap issuance, following on from an earlier $225 million Regulation S structured receivable note issue by Russia International Finance S.A. The tap will become fungible with the original note issue after the first payment date. The notes represent the first ever future flow deal in Russia and the first ever credit card receivables deal for a Russian bank (Rosbank). The White & Case team was led by partner Tim Jeveons;

Represented Merrill Lynch on the $60 million international IPO of GDRs by online broker Indiabulls Financial Services Ltd. The GDRs are listed on the Luxembourg Stock Exchange. The White & Case team was led by partner Tim Jeveons; and

Represented UBS as sole bookrunner in the $40 million SEC-registered secondary offering of Aladdin Knowledge Systems Ltd., an Israeli security software company listed on Nasdaq. Aladdin is a global provider of security solutions that reduce software theft, authenticate network users and protect against unwanted Internet and email-borne content, including spam and viruses. Last year White & Case was mandated on a total of 12 Israeli capital markets transactions; more deals than any other international law firm. The White & Case team was led by partner Joshua Kiernan.

In recent years White & Case?s Capital Markets team has acted on the majority of eurobond transactions for Russian financial institutions, including representing UBS on the largest-ever Russian bank deal, in 2003, for Sberbank, as well as advising on securities issues made by almost every second tier bank that has come to market. In addition, the Rosbank securitisation in late 2004 and subsequent tap issue, and this year?s Sberbank lower tier two offering, on both of which White & Case advised the underwriters, were two of the most innovative deals to emerge from Russia in recent months. White & Case was named Russian Law Firm of the Year, 2005 at the IFLR awards on 16 March 2005.

Furthermore, White & Case is the only law firm to have acted on bond offerings for the top six banks in Kazakhstan, as well as advising on every transaction completed by a financial institution in the Ukraine. In the Czech Republic, White & Case last year acted for Merrill Lynch on the IPO of Zentiva; the first ever listed on the Prague Stock Exchange.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2004, in both Russia and Hungary by IFLR magazine.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Read more…

NEW HIRES BOLSTER WHITE & CASE'S WHITE-COLLAR DEFENSE PRACTICE

April 2005. Press Releases by White & Case LLP (view listing).

NEW HIRES BOLSTER WHITE & CASE'S WHITE-COLLAR DEFENSE PRACTICE

Former SEC Assistant Regional Director G. William Currier and Assistant US Attorney Maria N. Lerner Join Firm

April 13, 2005

White & Case today announced that former SEC Assistant Regional Director and Senior Trial Counsel G. William Currier has joined as a partner, and former Assistant US Attorney Maria N. Lerner has joined as an associate in the Firm?s Washington, DC office. Former federal prosecutor Fernando L. Aenlle-Rocha also joined as a partner in White & Case?s Los Angeles office in mid-January.

'The addition of Bill, Maria and Fernando serves to enhance our depth and capabilities,' said partner George Terwilliger, who heads White & Case?s Corporate Defense and Special Litigation Practice Group, and previously served as Deputy Attorney General of the United States. 'Large, complex cases presenting multiple issues in multiple fora require depth on a client?s legal team. Corporate defense clients turn to White & Case because it can field a team of lawyers with both experience as prosecutors and private counsel, possessing the knowledge, judgment and credibility needed by businesses and business leaders in this challenging enforcement environment.'

Currier was an associate with White & Case before moving to the SEC?s Trial Unit in Washington, DC, where he was Assistant Chief Litigation Counsel for the Commission. In 2001, Currier served as Senior Trial Counsel and later became Assistant Regional Director with the SEC?s Northeast Regional Office in New York, where he handled all aspects of complex, federal court securities litigation, investigations and administrative law matters for the Commission?s Enforcement Division. He also previously served as Assistant US Attorney for the District of Columbia and as a law clerk for The Honorable Federick H. Weisberg with the Superior Court of the District of Columbia.

Currier holds a JD from Antioch School of Law in Washington, DC, and is a past recipient of The Thurgood Marshall Award, an honor given by the Association of Bar of the City of New York for his pro bono work on a death penalty case.

'I am pleased to be back at White & Case and look forward to using my experience as an SEC litigator and former federal prosecutor to help protect our clients? rights and interests,' said Currier.

Lerner was an Assistant US Attorney at the United States Attorney?s Office in Washington for the last four years. She has conducted numerous complex investigations and prosecutions in federal and local court and served as lead attorney in fifteen jury trials. She also served as a law clerk to the Honorable Gladys Kessler of the US District Court of the District of Columbia. Lerner holds a JD from Georgetown University Law Center, where she was Books & Symposia Editor of the Georgetown Law Journal.

Aenlle-Rocha also brings extensive prosecutorial and private practice experience to White & Case. From 1990 through 1999, Aenlle-Rocha served as a federal prosecutor in the Criminal Division of the United States Attorney?s Office in the Central District of California (Los Angeles) and the Southern District of Florida (Miami). During his nine years as an Assistant US Attorney, Aenlle-Rocha conducted numerous trials and directed complex federal grand jury investigations. Prior to joining White & Case, Aenlle-Rocha was a white-collar defense partner in McDermott, Will & Emery. Aenlle-Rocha holds a JD from Boalt Hall School of Law at the University of California, Berkeley.

White & Case?s Corporate Defense and Special Litigation Practice Group provides clients around the world the judgment and expertise of highly experienced counsel in dealing with government investigations, enforcement matters and related civil litigation. Most recently, the group has represented Cr?dit Lyonnais and the defeasance entity Consortium de R?alisation in connection with multibillion dollar civil and criminal fraud claims; the board of a Fortune 20 company in connection with shareholder demands for claims arising from alleged false financial reporting; and a major energy producer in an administrative and antitrust enforcement matters. The group also regularly conducts domestic and international investigations, including worldwide inquiries concerning Foreign Corrupt Practice Act issues, suspect internal operations, investigations in support of due diligence projects and fact gathering for affirmative claims or litigation. The team also provides knowledgeable consultation on such sensitive issues as remedial actions and the advisability of voluntary disclosures to government agencies.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

WHITE & CASE ACTS ON ?3.3 BILLION TELECOMS REFINANCING

April 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ACTS ON ?3.3 BILLION TELECOMS REFINANCING

Firm?s Telecoms Financing Work Totals ?10.3B Since Beginning of 2004

April 13, 2005

White & Case acted for UPC Broadband Holding B.V. on the latest refinancing of its existing debt. The refinancing comprised three facilities that took the form of sub-tranches under the existing credit documentation. They include: a self-syndicated term loan facility for ?1 billion; a redrawable term loan facility for ?500 million; and a term loan facility (institutional tranche) consisting of a ?550 million tranche and a US$1.25 billion tranche. This new institutional tranche, when coupled with the existing one, now represents the largest in total for a European non-investment grade company and the largest ever tranche raised in euros.

The latest UPC refinancing means that White & Case has now advised on the four largest telecoms financings since the beginning of 2004, with the others being:

the recent ?1.8 billion refinancing of Telewest, where the Firm advised Barclays Capital, BNP Paribas, Citigroup, Credit Suisse First Boston, Deutsche Bank and Royal Bank of Scotland as mandated lead arrangers;

the provision of ?2.45 billion of senior credit facilities to NTL Investment Holdings Ltd, where the Firm acted for the mandated lead arrangers, CSFB, Deutsche Bank, Goldman Sachs and Morgan Stanley; and

advice to UPC on the raising of a new institutional tranche of its existing bank facility, where it raised approximately US$2 billion, split into dollars and euros.

The Firm has won market recognition for its work on these deals, specifically the NTL and Telewest transactions, when it was named Bank Finance Team of the Year at the Legal Business Awards in January this year.

'Following a downturn in the market in 2000-2002, the global telecoms industry has now firmly bounced back and the major players are seeking finance to fund the expansion of their business. We therefore expect to see further such refinancings in the market during the next 18 months,' said lead partner Maurice Allen.

The other member of the White & Case London team advising on the deal was Tania Bedi.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2004, in both Russia and Hungary by IFLR magazine.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Read more…

DATA SECURITY BREACHES NO LONGER DIRTY SECRET

April 2005. Press Releases by White & Case LLP (view listing).

DATA SECURITY BREACHES NO LONGER 'DIRTY SECRET' SAYS WHITE & CASE LAWYER

April 12, 2005

Today's announcement of a massive theft of personal data from the LexisNexis computer systems, and numerous similar recent announcements, may suggest that computer security breaches are on the rise. But in reality, it is simply that new data privacy laws in California have begun forcing companies to disclose and respond to breaches that previously would have not been made public, says a noted privacy lawyer with White & Case.

'While this latest news and other breaches recently announced involving established, reputable companies have captured growing attention, there's no evidence that the overall number of security breaches is on the rise. Rather the increasing crescendo of security breach disclosures is a consquence of the California statute requiring database owners to notify California residents, essentially one out of every eight Americans, of breaches involving their data. The era characterized by the industry's 'dirty little secret' - that only a tiny percentage of breaches are ever disclosed - is over,' said White & Case privacy and intellectual property lawyer David Bender, author of the four-volume Computer Law: Software Protection and Litigation.

Bender added that while the enhanced disclosure requirements may shine perhaps an unwelcome spotlight on the disclosing companies and the problem of data theft in general, the statute actually fits in well with the way businesses operate in the United States.

'The statute does not create a heavy bureaucracy or set forth a long list of detailed rules. Instead it invokes Adam Smith's 'invisible hand' and works by indirection. Most of all, it makes it in the company's interest to tend adequately to security,' said Bender.

Moreover, the California statute, and the subsequent disclosures on the part of companies, is prompting the federal government to begin moving in a similar direction.

'Currently, the US lacks a comprehensive national law regarding data privacy, though numerous privacy bills are pending before Congress. However, while we anticipate that some sort of federal legislation will be enacted, it remains to be seen what the final form will be,' said Bender.

The latest news concerning a security breach of personal data came just as Bender and several of his White & Case colleagues were addressing a group of privacy officers and other business executives at White & Case's 5th Annual Global Privacy Symposium in New York and London (for more information on the Symposium, please visit www.whitecase.com/privacy).

At the symposium, Bender said many security breaches involve highly sensitive personal identification such as names, addresses, social security numbers, drivers license numbers and credit reports being stolen. The hackers who break into computer systems and take information often use it to raid consumer bank accounts, obtain false passports and drivers licenses and generally 'assume' the victim's identity. In one case, a major US bank reported that data on some 1.2 million federal employees - including some US Senators - was stolen apparently from back-up tapes being shipped to storage.

Current government estimates said identify theft costs US consumers and businesses $50 billion annually, and that doesn't include the costs of security breaches and any subsequent litigation that may arise.

'Public companies that experience a privacy breach also need to consider the disclosure implications under federal securities laws,' said Bender. 'Failure to disclose a privacy breach while trading in company stock could trigger liability and even spark an investigation by the SEC.'

In the meantime, Bender recommends that the best way for companies to protect themselves from liability is to familiarize themselves with current data privacy laws in the United States, the European Union and other jurisdictions in which they do business to ensure compliance with those laws, and work closely with security experts to explore more effective ways to restrict break-ins.

White & Case's privacy lawyers counsel clients on all aspects of privacy law, including cross-border data transfer, compliance with laws in various jurisdictions, privacy policies, the right to monitor employee electronic communications and specific procedures that may be helpful in avoiding privacy-related litigation. The Firm's privacy practice pioneered a proprietary methodology for conducting privacy data protection audits, which identifies and analyzes, in detail, the client's collection, use, disclosure, and cross-border transfer of personal information and provides advice as to necessary modifications to the company's policies and practices.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

?1.1B LANDMARK EUROPEAN RAIL DEAL REACHES FINANCIAL CLOSE

April 2005. Press Releases by White & Case LLP (view listing).

?1.1B LANDMARK EUROPEAN RAIL DEAL REACHES FINANCIAL CLOSE

White & Case Advises Consortium of Five Banks on Financing for Key Infrastructure Project

April 6, 2005

White & Case acted for Royal Bank of Scotland, ING Bank N.V., Banco Bilbao Vizcaya Argentaria, Banco Espanol de Credito SA and Caja Madrid as lead arrangers on the financing of the high speed rail link being built between Perpignan in France and Figueras in Spain. Spanish law firm Garrigues, working in partnership with White & Case, advised on the Spanish legal aspects of the financing of the rail link.

The international concession for the delivery of the project had been previously granted by the French and Spanish governments to a consortium consisting of Eiffage and ACS/Dragados, called TP Ferro Concesionaria. The financing contracts between the five banks and TP Ferro Concesionaria were signed on 10 February and the first tranche of funding advanced on 15 February, in line with the timetable agreed between the French and Spanish governments.

The total cost of construction will be approximately ?1.1 billion, financed by a ?540 million subsidy from the French and Spanish governments, with an additional ? 410 million of debt financing provided by the banks. The balance, in the form of equity and Sponsors subordinated debt, will be divided equally between Eiffage and ACS/Dragados. The initial tenor for the debt financing is 10 years, with a bullet repayment. The banks provide further VAT and Subsidy prefinancing lines and a stand-by credit line during operation. The project concession length is 50 years.

The project is one of the key priorities outlined in the European Commission?s Trans-European Transport (TEN) report, which provides a blueprint for the development of the EU?s transport infrastructure between now and 2020 and estimates that ?225 billion of funding will be required for the recommended mix of rail, road and waterway development. Of the recommended projects, ?112 billion is required for high priority projects that either need to be started or completed before 2010. The Perpignan-Figueras rail link is one of only five of these projects that is scheduled to be completed before 2010.

Aside from its place in the TEN plan, the project also stands out because it is an international scheme requiring close co-operation between two countries and necessitated expertise in French, Spanish and EU law, in the fields of project finance, concessions, construction and tax and regulatory matters.

'We won the mandate to advise on the financing last summer and work really started in September 2004, so we had a tight timetable to adhere to,' explained Paris-based White & Case partners Paule Biensan and Jacques Bouillon. 'Furthermore the international nature of the project raised a number of complex legal issues. For example, the law applicable to the financing was Spanish law. However, there were significant differences between French law and Spanish law for example, in respect of the security interest.'

The construction of the rail link started in February 2004 and will take five years. The Perpignan-Figueras section will be part of a longer high-speed rail link, which will join Perpignan and Barcelona by 2009.

The leaders of the White & Case team acting on the deal were Paris partners Paule Biensan and Jacques Bouillon, working in conjunction with partners Lluis Cases and Jose Guardo Galdon from Garrigues.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

White & Case is an acknowledged world-leading law firm in the field of Energy, Infrastructure, Project and Asset Finance (EIPAF). The Firm?s EIPAF practice recently advised on the groundbreaking Qatargas II project and continues to represent as common counsel, the export credit agencies, multi-lateral lenders and commercial bank lenders in connection with the US$11.3 billion project financing of the Sakhalin II (Phase 2) LNG Project in Russia. The practice has particularly strong Russian, Middle Eastern and African experience and consists of more than 180 lawyers in the EMEA region.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Read more…

WHITE & CASE OBTAINS RECORD-SETTING ICSID ARBITRATION AWARD FOR LEADING CZECH BANK

April 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE OBTAINS RECORD-SETTING ICSID ARBITRATION AWARD FOR LEADING CZECH BANK

April 1, 2005

In an important victory for White & Case client ?eskoslovensk? obchodn? banka, a.s. (?SOB), an international arbitration tribunal issued a record-setting award of nearly 24.8 billion Slovak Crowns (approximately US$867 million or ?640 million) in damages against the Slovak Republic in addition to an award of US$10 million in costs, expenses and counsel fees.

The arbitration took place under the auspices of the World Bank?s International Centre for Settlement of Investment Disputes (ICSID), the principal forum for the resolution of disputes between sovereign States and foreign investors.

The dispute arose out of the breach by the Slovak Republic of a contract concluded in 1993 among the Czech Republic, the Slovak Republic and ?SOB in relation to the Bank?s financial restructuring in advance of its then planned privatization. Like many other financial institutions in formerly non-market economies, ?SOB required financial restructuring in order to remain solvent and competitive as the Czech and Slovak economies evolved from to a market system. To this end, in accordance with the parties? agreement, the Czech Republic and the Slovak Republic each established a special-purpose collection company to which ?SOB assigned certain non-performing loans. In addition, ?SOB extended a loan facility to each of the collection companies in an amount equal to the nominal value of the non-performing loans that had been assigned. The respective ministries of finance of each of the Czech and Slovak Republics provided security to ?SOB to ensure performance of the loans to the collection companies.

The Slovak Republic thus had agreed that it would 'cover any losses' of the Slovak collection company, as the non-performing loans assigned to that company were not expected to generate revenues sufficient to satisfy the collection company?s loan obligation to ?SOB. The Slovak Republic, however, failed to establish any mechanism 'to cover the losses' of the Slovak collection company. The Slovak collection company consequently defaulted on its loan obligations to ?SOB and later was declared bankrupt by a Slovak court.

This case demonstrates that complex financial disputes can be resolved successfully through international arbitration and is the most recent example of White & Case?s ability to help our clients achieve their objectives. The White & Case team represented ?SOB both before ICSID and in those aspects of the dispute that were addressed in the Slovak courts. With a team of attorneys working together in Washington, D.C., Prague and Bratislava, White & Case was able to achieve this important victory for its client building upon its track record of success before ICSID tribunals. The team was led by Charles N. Brower, Abby Cohen Smutny and Francis A. Vasquez, Jr. in Washington, D.C., and Jan Matej?ek and Monika Rutland in Prague. It included in addition Anne D. Smith, Lee A. Steven, Karie Jo Barwind, Heather Van Slooten, Petr Polasek, Eckhard R. Hellbeck and Peter J. Carney in Washington, D.C.; Tomas Zagar, David Plch, Ivo Janda and Jan Vild in Prague; and Marek Staron in Bratislava.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. GlobalCounsel consistently ranks White & Case among the top global law firms.

Contact:

Roger Cohen

Worldwide Director, Media Relations and Communications

White & Case LLP

1 212 819 8732

rcohen@whitecase.com

Read more…

NOTED TAX LAWYER GERALD ROKOFF JOINS WHITE & CASE AS PARTNER

April 2005. Press Releases by White & Case LLP (view listing).

NOTED TAX LAWYER GERALD ROKOFF JOINS WHITE & CASE AS PARTNER

April 1, 2005

White & Case today announced that Gerald Rokoff has joined as a tax partner in the Firm?s New York office. Rokoff, 54, has vast experience advising multi-national corporations and financial institutions on tax-related issues, with a particular focus on structured finance transactions and tax/commercial integration of the delivery of products and services for global businesses.

'Jerry Rokoff has a wealth of high-end tax experience, especially with cross-border matters, working with industry leaders such as British Gas, Barclays Capital, Morgan Stanley, Deutsche Bank and Credit Suisse First Boston,' said J. William Dantzler, head of White & Case?s Global Tax practice. 'His tax knowledge and knowhow will be of great value to our clients, given our multinational reach.'

Formerly a partner with Shearman & Sterling, Rokoff joined KPMG LLP in 2000 to start an investment banking advisory practice. Throughout his career, Jerry has regularly advised CEOs, CFOs, Treasurers and Directors of Tax, as well as investment bankers, on a variety of multinational projects that combine tax and commercial considerations. He has been the lead tax lawyer on a number of public and private acquisitions and financing transactions. He also has been elected to Euromoney?s Guide to the World?s Leading Tax Lawyers.

A graduate of Yale Law School, Rokoff was Editor of the Yale Law Journal and was selected by the Faculty as an Assistant in Instruction. He clerked for Irving R. Kaufman, Chief Judge of the United States Court of Appeals for the 2nd Circuit. He also is a graduate of State University of New York at Stony Brook, where he was the Valedictorian.

'Thankfully for investors, tax issues are increasingly on the radar screen in the boardroom,' said Chris Andersen of Andersen & Company, who is currently the Non-Executive Chairman of Millennium Cell and serves on several boards of publicly traded companies. 'Every company has a duty to its shareholders to be certain that legal opportunities to reduce costs and enhance earnings are properly considered. Rokoff has the experience, expertise and seasoned judgment to assist boards and management of taxpaying multinationals in reaching informed judgments on these issues. He has the people skills necessary to get change implemented where appropriate. Jerry?s talents and the worldwide resources of White & Case make for a powerful combination.'

Universal Music Group?s Ron Reman said, 'I have worked with many tax professionals worldwide and there are only handful I would characterize as elite; Rokoff is clearly one of them.'

White & Case?s Global Tax practice has more than 125 dedicated tax lawyers throughout its network to provide clients with the most innovative and effective tax-related legal representation available, including tax advice relating to mergers & acquisitions, financial products, partnerships, joint ventures and investment funds; project, facility, and equipment financings; transfer pricing and tax controversies.

'I am excited about joining White & Case, as I was particularly drawn to the combination of first quality tax advice and corporate lawyering that the Firm offers in so many jurisdictions around the globe. White & Case has the exceptional talent and energy to effectively serve clients,' said Rokoff.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

WHITE & CASE ADVISES ON LARGEST RUSSIAN CONSUMER SECTOR IPO SINCE 2002

March 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ADVISES ON LARGEST RUSSIAN CONSUMER SECTOR IPO SINCE 2002

Russian Equity Markets in Good Health

March 30, 2005

White & Case acted on the largest Russian consumer sector Initial Public Offering (IPO) since 2002, representing JSC Lebedyansky, the leading Russian producer of fruit juices, in an offering by several of the company?s shareholders of more than four million ordinary shares. The offering was priced at $37.23 per share and raised more than $150 million. JSC Lebedyansky?s shares were listed on two of Russia?s primary stock exchanges, the RTS and MICEX. Deutsche UFG acted as lead manager and book runner for the flotation.

The transaction bodes well for Russian consumer goods companies intending to raise funds via the Russian public equity markets. According to JSC Lebedyansky, the transaction was more than three times oversubscribed, and shares were sold to more than 100 Russian and international investors. The last IPO of this magnitude in the Russian consumer goods sector was an offering by Wimm-Bill-Dann in March 2002.

Commenting on the deal, White & Case partner Sven Krogius said, 'The Lebedyansky offering was a success by any measure: it was priced at the top of the expected range and its size was increased to satisfy investor demand. This not only shows the attractiveness of Lebedyansky as an investment proposition, but also the strength of investor confidence in the Russian equity markets in general. During the next few months, we?re expecting further forays into the equity markets by companies in the Russian consumer goods sector, as well as increasing levels of activity across the board.'

The White & Case team advising on the deal was led by partner Sven Krogius with associates Natalia Anisimova, Suren Gortsunyan, Alexey Konovalov, Maria Shlyapina, Andrew Sandgren and professional support lawyer Evgenia Ishimova, all based in Moscow.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications.

In January 2005 White & Case received the Banking and Finance team of the year award at the Legal Business awards, and in March 2005 was named Law Firm of the Year, 2004, in both Russia and Hungary by IFLR magazine.The Moscow office of White & Case was established in 1991 and is now one of the largest global law firms in Russia.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Natalia Baryshnikova

External Communications Coordinator

White & Case, Moscow

7 095 787 3073

nbaryshnikova@whitecase.com

Read more…

WHITE & CASE AN M&A LEADER IN 2004

March 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE AN M&A LEADER IN 2004

Firm Ranked Second Globally in Number of Deals Closed Last Year

February 28, 2005

White & Case?s fast-growing M&A practice ranked second worldwide among all law firms in the number of completed M&A deals in 2004, according to an updated compilation by Thomson Financial issued February 9, 2005.

White & Case earned its ranking by successfully closing 280 M&A transactions in 2004, or approximately one deal every business day of the year.

'As one of the world?s most active law firms in M&A transactions, White & Case regularly takes the lead in devising creative deal structures and planning and implementing strategies for both acquirers and potential acquisition targets,' said John M. Reiss, co-head of the Firm?s Global M&A practice. 'Clients also benefit from our global reach and vast cross-border capabilities when it comes to going private transactions and private equity matters.'

Among the M&A transactions the Firm handled in 2004 were:

Bacardi Acquisition of Grey Goose Vodka. White & Case advised Sidney Frank Importing Co., Inc. on its sale to Bacardi of the Grey Goose Vodka business, which consists of the Grey Goose brand, its manufacturing centre in Cognac, France, and the land on which this is situated.

NUI Sale to AGL Resources. White & Case advised New Jersey gas utility NUI in its sale to AGL Resources for $827 million.

Recapitalization of Associated Materials. White & Case represented Harvest Partners, Inc. and Associated Materials, a Harvest portfolio company in connection with a $975 million recapitalization of AMH and sale of a 50 percent equity interest in AMH to affiliates of Investcorp International Inc.

Shinsei Bank Ltd. Acquisition of Aplus Co. White & Case represented Shinsei Bank Ltd., Japan's eighth-largest bank, in its successful $592 million bid for Aplus Co., a Japanese consumer finance company.

Warner Chilcott Sale. White & Case advised the management team of pharmaceuticals company Warner Chilcott in its $3.1 billion acquisition by an investment group led by funds managed or advised by Bain Capital Partners LLC, DLJ Merchant Banking III, Inc., J.P. Morgan Partners, LLC and Thomas H. Lee Partners, L.P.

'Despite the weak American dollar, US companies have been investing heavily overseas, particularly in Asia, and we expect that to continue in 2005. That makes our cross-border experience particularly attractive to corporations, private equity firms and other investors,' said Timothy B. Goodell, co-head of White & Case?s Global M&A group.

White & Case?s Global M&A practice consists of more than 300 lawyers throughout its network who advise multinational industrial and service businesses, private equity firms and major commercial and investment banks in structuring and completing domestic and cross-border mergers and acquisitions, leveraged buyouts, joint ventures and equity investments. The Firm has vast experience advising clients on complex, multi-jurisdictional transactions.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

WHITE & CASE ADVISES NEWMONT MINING ON $600 MILLION NOTE OFFER

March 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ADVISES NEWMONT MINING ON $600 MILLION NOTE OFFER

March 23, 2005

White & Case advised US mining giant Newmont Mining Corp. on its sale of $600 million of 30-year notes.

The sale of the 5.875% notes due 2035 was completed on Tuesday.

Newmont will use the proceeds for capital investments and for general corporate purposes.

The White & Case team consisted of partners Maureen Brundage, John Narducci and Kenneth Raskin in New York, counsel Mark Hamilton and associates Martin Glass, Maryanne O?Connor and Steven Brine. Paul Milmed, of counsel, also advised on the transaction.

The offering was made in the US under Newmont's existing shelf registration statement.

Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. were the joint book-running managers for the offering and UBS Securities LLC was the lead manager for the offering.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

WHITE & CASE STRUCTURED FINANCE DEALS SCOOP TRIO OF AWARDS

March 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE STRUCTURED FINANCE DEALS SCOOP TRIO OF AWARDS

March 22, 2005

Three deals on which White & Case?s international Capital Markets team was a key legal adviser have been named as 'Deals of the Year' by leading publications for the structured finance and securitisation industry. The three award-winning deals are:

International Securitisation Report 2005 Awards: European Corporate Deal of the Year ? FCC Eurotruck Lease. White & Case represented Fraikin (the issuer) on the ?420 million securitisation of truck leases using a French FCC structure. The transaction was insured by MBIA. This 'whole business' transaction was one of the first of its kind in France. The White & Case team was led by partners Gilles Peigney and Gavin McLean, working with associates Pierre Brochet, Nicolas Huet and Moustapha Mourahib.

International Securitisation Report 2005 Awards: European CDO Deal of the Year ? SVG Diamond Private Equity. White & Case advised Nomura International PLC as arranger in one of only a handful of Collateralised Fund Obligation (CFO) deals, pooling interests in private equity (predominantly private equity funds) as the underlying assets, to ever take place in the European market. In the deal SVG Diamond Holdings Limited issued ?140 million of preferred equity and an unspecified sum of private debt. SVG Diamond Private Equity Limited, an SPV incorporated in Ireland, purchased the debt offered by SVG Diamond Holdings Limited, funding the purchase via the issue of approximately ?260 million of Notes (or equivalent: the Notes offered were denominated in both Euros and US dollars). The Notes were listed on the Channel Islands Stock Exchange. The transaction?s dual SPV structure and its mixed debt and equity offering both set precedents in the European market. The White & Case team was led by David Barwise, working closely with senior associate Josh Parbhu.

Structured Finance International 2005 Awards: Most Innovative Asset Backed Deal (Joint Winner) ? Rosbank. White & Case acted for Merrill Lynch and Credit Suisse First Boston as Lead Managers of the first ever securitisation of credit card receivables in Russia, in a US $225 million international bond issue made by Rosbank, one of Russia?s largest privately owned banks. The deal established a successful template for structured bond issues in Russia and is expected to act as a catalyst for growth in the market for transactions of this type.

About White & Case

White & Case is a leading global law firm with nearly 1,900 lawyers in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. White & Case has also been named Best US Law Firm in London, Eastern Europe Law Firm of the Year and Eastern Europe Corporate/M&A Firm of the Year by leading legal benchmark publications. In January White & Case received the Banking and Finance team of the year award at the Legal Business awards.

The Firm?s Capital Markets practice has a well-established reputation. An independent legal benchmarking publication recently named a large number of White & Case lawyers as leaders in capital markets, and cited the Firm as having 'a brilliant emerging markets practice'. Our lawyers represent major financial institutions and corporations in the full range of debt, equity and structured financing transactions around the world using local, US and English finance law techniques.

The European Emerging Capital Markets team, which comprises lawyers from offices in Almaty, Ankara, Bratislava, Budapest, Istanbul, Moscow, Prague, Turkey and Warsaw, supported by a specialist team in London, offers clients an unparalleled experience in debut international offerings and other groundbreaking deals. Building upon the success in recent years, particularly in Russia and the former CIS region, the Firm is the leading law firm for financial institutions work in the former CIS region, having acted on the majority of eurobond transactions for Russian financial institutions, as well as dominating the markets in Kazakhstan, Ukraine and the Czech Republic. In addition, the Firm has been active in the capital markets in other sectors of the economy in such countries and has executed numerous transactions in other countries throughout the region.

Contact:

James Martin

Media Relations Manager, EMEA

White & Case LLP

44 0 20 7532 2853/ 44 0 7939 012 011

jmartin@london.whitecase.com

Read more…

PRIVATIZATION OF US TOLL ROADS GAINS SPEED

March 2005. Press Releases by White & Case LLP (view listing).

PRIVATIZATION OF US TOLL ROADS GAINS SPEED

March 21, 2005

After privatization of US infrastructure slowed significantly in the 1990s, the concept is rapidly gaining speed now that several international private-public toll road projects have proven successful, according to a project finance lawyer with White & Case.

'US states and municipalities are taking a look at many of the structuring and financing techniques and newer tolling technologies employed by overseas transportation projects to see if such techniques can be applied to US projects. Some of those techniques include shadow tolls, managed lanes, free-flow tolling technologies and innovative lease structures that combine public and private financing sources,' said project finance lawyer Ned Neaher, who has advised on numerous toll road projects in Latin America and Europe. 'Public-private partnerships are now viewed by states and municipalities as an attractive method to obtain budgetary support while ensuring first-class transportation infrastructure is provided to their citizens.'

Neaher says that throughout the country, state governments and municipalities are making the decision to privatize toll roads, bridges and other vital infrastructure in an effort to combat state funding shortages and reduce procurement costs. California Governor Arnold Schwarzenegger recently unveiled a three-prong plan to reduce traffic congestion, including legislation that would allow private construction of toll roads. To offset its $100 billion transportation deficit, Colorado?s state legislature is considering privatized toll roads to pay for the construction and maintenance of its 953-mile highway system. And New Jersey?s Acting Governor Richard Codey is studying the possibility of leasing one or more toll roads, including the 148-mile New Jersey Turnpike.

In fact, at least 19 states have enacted some kind of public-private partnership program for the transportation sector.

'Public-private partnerships in toll road projects like the Chicago Skyway, where the City of Chicago granted a 99-year lease to Cintra Concesiones de Infraestructuras de Transporte (Cintra) and Macquarie Infrastructure Group to operate, maintain, manage, rehabilitate and toll the Skyway, infused $1.83 billion into that city?s coffers,' said Neaher, who represented Cintra and other developers and financiers in various toll road projects in Chile. 'Given the financial crunch that many local and state governments are facing, it?s not surprising that US states and municipalities are giving privatization a serious look again.'

White & Case has one of the foremost project finance and infrastructure practices in the world, with significant experience advising on toll road projects including the AKA M5 Motorway in Hungary (Europe, Middle East and Africa Infrastructure Deal of the Year by Project Finance International); Autopista del Maipo refinancing (Latin America Refinancing Deal of the Year, Project Finance Magazine); Mexico?s Autopista de Nuevo Le?n toll road (Americas Infrastructure Deal of the Year, Project Finance International) and Chile?s Costanera Norte toll road financing in Chile (2003 Latin American Deal of the Year, Project Finance International).

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

APPEALS COURT FINDS FOR WHITE & CASE CLIENT UPSHER-SMITH IN KEY ANTITRUST CASE

March 2005. Press Releases by White & Case LLP (view listing).

APPEALS COURT FINDS FOR WHITE & CASE CLIENT UPSHER-SMITH IN KEY ANTITRUST CASE

Decision Critical of FTC For Challenging Upsher-Smith?s Settlement with Schering-Plough Over Drug Patents

March 15, 2005

In a landmark victory for White & Case client Upsher-Smith Laboratories, the United States Court of Appeals for the Eleventh Circuit recently ruled that Upsher-Smith and Schering-Plough acted lawfully in settling patent litigation between them in 1997. The decision vacated an order by the US Federal Trade Commission that claimed the settlement was unlawful under the federal antitrust laws.

'This case has been closely watched by the legal and pharmaceutical communities alike given the uncertainty regarding the rules for settling disputes related to pharmaceutical patents. This decision helps clarify these rules,' says White & Case partner Christopher M. Curran, who led the legal team representing Upsher-Smith.

In its 2001 complaint, the FTC alleged that the Upsher-Smith/Schering settlement violated the antitrust laws by delaying generic competition to Schering?s brand-name drug K-Dur 20. The FTC's own administrative law judge ruled in favor of Upsher-Smith and Schering-Plough in 2002, dismissing the complaint. But the FTC Commissioners reversed this ruling. The 11th Circuit ruled, in a unanimous decision, that the administrative law judge was right and the Commissioners were wrong.

The 11th Circuit found that the FTC had no evidentiary basis for concluding that a $60 million payment from Schering to Upsher-Smith was to induce Upsher-Smith to delay the launch of its generic competition to Schering?s brand-name drug. Instead the evidence showed that the payment represented fair value for rights to certain Upsher-Smith products in a bona fide licensing transaction. The Court also found that there was no evidence that Upsher-Smith could have achieved any earlier date for market entry through litigation or settlement. The Court also emphasized the benefits of settlement generally, as reducing the costs of litigation and providing certainty.

Stating that the FTC?s decision was 'not supported by law or logic,' the Court found that FTC decision was 'contradict[ed]' by 'overwhelming evidence.' The Court added: 'It would seem as though the Commission clearly made its decision before it considered any contrary conclusion.'

Under the 1997 Upsher-Smith/Schering settlement, Upsher-Smith won the right to introduce its Klor-Con M20 product on September 1, 2001, even though Schering-Plough?s patent does not expire until September 5, 2006. In the three-and-a-half years since introducing the generic drug, millions of consumers have benefited from Klor-Con M20 due to the settlement.

'The settlement got two generic drugs onto the market as soon as possible while minimizing the time and expense of a patent infringement trial for the parties. Consumers and the FTC should applaud,' said White & Case antitrust chair J. Mark Gidley, who also had a lead role in representing Upsher-Smith.

White & Case represented Upsher-Smith throughout the proceedings, from trial through appeal. In addition to Curran and Gidley, the other White & Case members advising Upsher Smith were partners Robert D. Paul and Peter J. Carney, as well as associates Jaime Crowe, Rajeev K. Malik, and Gregg A. Hand.

White & Case is among the leaders in advising pharmaceutical companies on a wide range of issues, including antitrust matters, patents disputes and cross-border licensing.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms. The Global Competition Review survey of 140 law firms also consistently lists White & Case among the Top Ten competition practices.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

THREE IP LAWYERS JOIN WHITE & CASE'S PALO ALTO OFFICE

March 2005. Press Releases by White & Case LLP (view listing).

THREE IP LAWYERS JOIN WHITE & CASE'S PALO ALTO OFFICE

Team Joins Former Colleague William Coats

March 15, 2005

White & Case LLP today announced that one of Silicon Valley?s most prominent intellectual property teams has joined the Firm's Palo Alto office as part of its ongoing expansion in Northern California.

The team, two partners and a senior associate, all from Orrick, Herrington and Sutcliffe, join former colleague William Sloan Coats who moved to White & Case last month as a partner.

'With the addition of these four high-profile IP lawyers, White & Case is sending the powerful message that our technology and IP practices in Northern California are unsurpassed in terms of experience, service and a thorough knowledge not only of the law, but also the unique, complex workings of the technology sector. Many of these lawyers worked in the high-tech and science fields before coming to the law, and have experienced first-hand the business and IP challenges that our clients in Northern California and throughout our global network face every day,' said Bill Wynne, Chairman of White & Case?s Management Board.

The new lawyers are:

Heidi L. Keefe, partner. Keefe, a registered patent attorney with extensive trial experience, focuses her practice on patent disputes for technology and life science companies. Keefe holds a JD cum laude from Santa Clara University School of Law and a BA cum laude in Astrophysics from Wellesley College. At Orrick, she was co-chair of Training and Development for that firm?s IP practice and was instrumental in helping open its Taipei office.

Mark R. Weinstein, partner. Weinstein focuses on patent and trade secret litigation for technology companies. He holds a JD magna cum laude from the University of San Diego School of Law and a BS from the University of California, San Diego. Prior to joining Orrick, Weinstein served as law clerk to the Honorable Thomas J. Whelan, United States District Court for the Southern District of California and was a professional software engineer.

Mark F. Lambert, senior associate. Lambert?s litigation practice includes representation of technology clients in trade secret, patent and copyright disputes. He also has extensive experience with licensing disputes, unfair competition and business tort litigation. He holds a JD from the University of California, Hastings College of Law, an MA from Middlebury College and a BA from the University of California, Berkeley.

'White & Case differs from most other firms in Silicon Valley because it has a global reach and tremendous experience protecting clients' IP rights in numerous jurisdictions, often handling litigations on multiple fronts simultaneously. Yet our lawyers also know Silicon Valley intimately and have forged very strong local relationships. Given this combination, White & Case is the natural choice for global high tech companies,' said Coats, who has nearly 25 years of experience advising clients on cases involving software copyrights and patents, copyrights for movies and music, trademark and trade secret disputes and bankruptcy issues.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

The Firm's Palo Alto and San Francisco offices advise clients in a wide range of industries, including technology, energy, telecommunications, consumer products and consulting companies, as well as banks, broker-dealers and mutual fund companies, in six major areas, including: intellectual property; banking and financial services; international equities and global compensation; international employment and benefits; energy, infrastructure and project finance; private equity, and mergers and acquisitions.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

WHITE & CASE ADVISES ON LANDMARK RESTRUCTURING DEAL IN MEXICO

March 2005. Press Releases by White & Case LLP (view listing).

WHITE & CASE ADVISES ON LANDMARK RESTRUCTURING DEAL IN MEXICO

Corporaci?n Durango Completes Largest Restructuring Under New Mexican Bankruptcy Law

March 15, 2005

White & Case client Corporaci?n Durango, S.A. de C.V., the largest paper company in Mexico, recently completed its restructuring of more than $800 million of unsecured debt, constituting the largest reorganization to date under Mexico's new Business Reorganization Act.

The Durango reorganization, which was completed on February 23, 2005, also heralds a significant development in Mexico-US cross-border insolvency law, according to partner Emilio J. Alvarez-Farr?, who led the White & Case team. The transaction will 'serve as an important precedent and model for Mexican companies seeking to restructure their financial debt,' he said.

Under the terms of the restructuring, holders of Durango's unsecured debt received 85% of their aggregate outstanding principal amount in the form of new bonds or amended bank loans together with shares representing approximately 17% of Durango's aggregate share capital and a cash payment at closing.

Durango's plan of reorganization, which was approved by a substantial majority of its registered financial creditors, was confirmed by the Durango District Court. The local court's order confirming the plan was recognized and given full force and effect by the United States Bankruptcy Court for the Southern District of New York in Durango's ancillary proceeding filed under Section 304 of the US Bankruptcy Code. In connection, the US Bankruptcy Court entered an order permanently enjoining creditors from challenging Durango's restructuring in the United States.

White & Case partner John K. Cunningham, who represented Durango in the US ancillary proceeding, noted that the Durango reorganization marked the first time that a US bankruptcy court has recognized and extended comity to a Mexican court order confirming a reorganization plan under the Business Reorganization Act.

'The restructuring demonstrates to the international capital markets the flexibility and efficacy of the Act in allowing the successful balancing of the objectives of a Mexican debtor and its financial creditors, ' commented Cunningham.

In addition to Alvarez-Farre and Cunningham, the White & Case team consisted of partner Thomas E. Lauria, counsel Mark O. Bagnall and associates John L. Murphy, Pedro A. Jim?nez, A. Lizbeth Flores and Michael J. Schefer in Miami. Partner Craig Averch in Los Angeles also advised on the transaction.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

ITC SEMICONDUCTOR CASE TERMINATED

March 2005. Press Releases by White & Case LLP (view listing).

ITC SEMICONDUCTOR CASE TERMINATED

$175 Million Settlement for White & Case Client Taiwan Semiconductor Manufacturing Co.

March 15, 2005

Today, US International Trade Commission (ITC) Administrative Law Judge Sidney Harris issued a decision terminating (based on a settlement agreement) an action by White & Case client Taiwan Semiconductor Manufacturing Co. (TSMC) against Semiconductor Manufacturing International Corp. (SMIC) under 'Section 337' of the 1930 Tariff Act alleging that Shanghai-based SMIC had stolen TSMC?s trade secrets and infringed its patents. TSMC is the world?s largest producer of custom-made chips.

Under the settlement, SMIC will pay TSMC $175 million, the highest of any publicly disclosed ITC settlement agreement in the last five years, and among the highest US settlement payments involving trade secrets in any court in the past decade, according to White & Case partner Christopher Corr of Washington, DC, who represented TSMC in the matter, along with Steve Hemminger, IP partner in White & Case?s Palo Alto Office.

The non-confidential terms of the settlement agreement are described in the companies? press releases, and a public version of the settlement agreement was released with today?s initial determination by Judge Harris. The settlement includes a dismissal without prejudice of all pending legal action between the two companies in the ITC as well as in related cases in US District Court, California State Superior Court and Taiwan District Court.

White & Case was lead counsel in the ITC Investigation for TSMC, and Keker & Van Nest of San Francisco was co-counsel. Keker was lead counsel in the federal and state court cases, and White & Case was co-counsel in these actions. Haynes and Boone and Semiconductor Insights also assisted TSMC in the case.

Besides the magnitude of the settlement in value terms, 'the case is noteworthy because it highlights the emerging trend of non-US-based companies asserting their US intellectual property rights at the ITC against allegedly infringing imports by other foreign companies, in order to avail themselves of the ITC?s uniquely swift pace and procedural advantages,' said Corr.

Added Hemminger: 'The case highlights an often overlooked aspect of the ITC in bringing this action, namely its ability to protect against importation based on unfair acts. In addition to protecting patent rights, the ITC can protect trade secrets that were stolen overseas and used overseas to make products that are sold for importation into the US This allows a company, US or foreign, to protect its confidential information and investments in jurisdictions where it may be difficult to litigate and/or where there may be limited or no jurisdiction in US federal or state courts. We anticipate other companies will follow TSMC?s lead and take advantage of the ITC in protecting their trade secrets and confidential information.'

White & Case has one of the nation?s most active 337 practices, which is handled jointly by the Firm?s International Trade Group based in Washington, DC and its IP practice in Palo Alto. Over the past two years, the two practices have worked on more than five 337 cases. Earlier this year, White & Case enhanced its 337 capabilities further when it hired Delbert 'Chip' Terrill, a former Administrative Law Judge at the ITC with more than fifteen years experience. He is the only former ITC ALJ in private practice.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. GlobalCounsel consistently ranks White & Case among the top global law firms.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

APPELLATE VICTORY IN ARBITRATION AWARD ENFORCEMENT

March 2005. Press Releases by White & Case LLP (view listing).

APPELLATE VICTORY IN ARBITRATION AWARD ENFORCEMENT

Case Remanded to Arbitration Panel Almost a Decade Later

March 7, 2005

The United States Court of Appeals for the Tenth Circuit handed White & Case client RWE Nukem, Inc. a major victory in a long-running dispute against U.S. Energy Corporation regarding the enforcement of an arbitration award rendered almost a decade ago. White & Case had taken on representation in the case after two prior unsuccessful appeals and a new judgment entered against Nukem.

In U.S. Energy Corp. and Crested Corp. v. Nukem, Inc. and Cycle Resource Investment Corporation (Tenth Circuit, Feb. 24, 2005, Case No. 03-1444, 03-1451), the Court of Appeals vacated a $20 million District Court Judgment against Nukem and rejected U.S. Energy?s request for an additional $24 million plus unspecified damages. The Court then remanded the arbitration award to an arbitration panel for clarification as Nukem had requested.

'The day I received word of the decision was certainly one of the happiest days of my life. The Court of Appeals has fully vindicated Nukem?s position. U.S. Energy sought well over $44 million, and it received what it deserved, nothing. White & Case?s Carolyn Lamm and her team developed a brilliant appeals strategy and executed it in exemplary fashion,' said Jim Cornell, President and Chief Executive Officer of Nukem.

The appeal related to the enforcement of a 1996 Arbitration Award that considered disputes arising out of the Sheep Mountain Partnership established in 1989 by Nukem (together with its affiliate Cycle Resource Investment Corporation) and U.S. Energy (together with its affiliate Crested Corp.) to mine and market certain specified uranium.

The Award imposed a constructive trust and ordered Nukem to pay damages related to the grandfathering of five partnership contracts pursuant to a Department of Commerce Suspension Agreement with Uzbekistan. Nukem already paid over $15 million in damages by the time of the appeal. The Award did not explain clearly how to calculate the value, if any, of the constructive trust and whether it was separate from or consonant with the damage award.

The enforcement of the Award involved two prior appeals and a Special Master Report assessing data allegedly relevant to the calculation of the value of the constructive trust. The United States District Court for the District of Colorado ultimately entered a Judgment on August 1, 2003 purporting to enforce the award and value the constructive trust separate and apart from the damage award. Acting on the basis of 'extensive guesswork,' according to the Court of Appeals, the District Court awarded U.S. Energy an additional $20,044,183.50 over the amount Nukem had already paid. Nukem appealed and U.S. Energy cross-appealed.

The Court of Appeals vacated the entire $20 million Judgment against Nukem. The Court also granted Nukem?s request for a remand of the Award to the arbitration panel for clarification as to the proper calculation of the value, if any, of the constructive trust. The Court rejected U.S. Energy?s request for a total of $44 million plus other unspecified damages. Thus, Nukem now owes nothing to U.S. Energy.

The Court of Appeals held, 'the district court?s valuation of the constructive trust was based upon extensive guesswork. Therefore, a remand to the arbitration panel is necessary, despite the long and tortured procedural history of this case.' The arbitration panel was constituted under the auspices of the American Arbitration Association and will be reconstituted.

'This victory establishes that neither the passage of time after an arbitration award is rendered nor the death of an arbitrator give a court permission to guess about or go beyond the meaning of an arbitration award,' said Washington litigation partner Carolyn B. Lamm, who argued before the Tenth Circuit for Nukem.

'This case validates and extends a bedrock principle of federal arbitration law. When parties agree that their disputes should be settled by arbitration, courts have no place re-interpreting the outcome of the arbitration, or making educated guesses about what an ambiguously worded award means,' said White & Case partner Frank Vasquez.

The other attorneys for White & Case LLP were associates Jonathan C. Hamilton and Andrew G. Beshear in Washington, D.C.

White & Case?s International Arbitration practice is widely recognized as preeminent in the field with arbitration centers in Hong Kong, London, New York, Paris, Stockholm and Washington, D.C., and significant practices in Moscow, Tokyo and elsewhere. Chambers Global: The World?s Leading Lawyers for Business describes the practice as 'clearly the best in the business,' 'undoubtedly pre-eminent in the field,' 'extremely deep and extremely experienced' and 'widely admired for the ?depth and scope of its activities across the globe.?' The practice was also distinguished in American Lawyer?s first-ever survey of international arbitration with more matters mentioned than any other firm in the world.

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. Global Counsel consistently ranks White & Case among the top global law firms.

Contact:

Sandi Sonnenfeld

Media Relations Manager

White & Case

1 212 819 8299

ssonnenfeld@whitecase.com

Read more…

SCOTT M. ZEMSER JOINS WHITE & CASE AS PARTNER

March 2005. Press Releases by White & Case LLP (view listing).

SCOTT M. ZEMSER JOINS WHITE & CASE AS PARTNER

March 1, 2005

White & Case today announced that Scott M. Zemser has joined the Firm as a partner in the New York office's Bank Finance and Capital Markets practices.

Mr. Zemser joins White & Case from Paul, Hastings, Janofsky & Walker LLP in New York, where he headed up the New York Banking and Institutional Finance group. Mr. Zemser concentrates his practice on domestic and international banking and finance, workouts and restructurings. Mr. Zemser has more than 15 years of extensive experience representing banks and investment banks in a broad range of secured and unsecured debt offerings, including acquisition, bridge and asset-based financings. He also has broad experience in the retail, chemical, manufacturing, automotive, health care and technology industries.

'Scott's addition further strengthens our premier banking and capital markets team and deepens existing relationships with our banking and investment banking clients,' said Eric L. Berg, head of the Firm's global Bank Finance Practice Group. 'We are delighted to welcome Scott to the Firm.'

Mr. Zemser is listed in the Euromoney/IFLR Expert Guide to the World's Leading Banking Lawyers.

'With its world-renowned bank finance and capital markets practices, White & Case offers clients an extraordinary depth of resources and experience,' said Mr. Zemser. 'White & Case has excellent long-standing relationships with the major banks and investment banks, including many of those which are existing clients of mine. I'm tremendously excited to be joining White & Case.'

About White & Case

White & Case LLP is a leading global law firm with 1,900 lawyers practicing in 38 offices in 25 countries. GlobalCounsel consistently ranks White & Case among the top global law firms.

Contact:

Josh Karlen

Media Relations Manager

White & Case

1 212 819 8519

jkarlen@whitecase.com

Read more…

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to