The Legal 500

Within Insurance: advice to insurers, tier 4

Seward & Kissel LLP fields a modestly sized insurance practice group which includes recommended figures Bruce Paulsen and Dale Christensen. The group handle insurance and reinsurance litigation, as well as arbitration, in fields including D&O, brokerage disputes, liability insurance and P&C. It is noted in particular for its work in relation to marine and terrorism insurance, and has been active in piracy-related insurance matters following President Obama’s 2010 executive order concerning piracy and Somalia. The group recently represented The Hanover Insurance Company in coverage litigation arising from underlying personal injury claims relating to the use of pharmaceuticals, and property damage claims emanating from the manufacture of products containing environmental pollutants.

Within Alternative/hedge funds, Seward & Kissel LLP is a second tier firm,

Although Seward & Kissel LLP’s investment management practice is smaller in size than many of its competitors, it punches above its weight in terms of scale and sheer volume of representations carried out by the team. Its impressive track record dates back to the hedge fund industry’s inception with its representation of AW Jones & Company, considered to be the first hedge fund. Its seniority in the industry is reflected in the sophistication of its clients, with clients such as Blackstone Alternative Asset Management, Morgan Creek Capital Management and Indus Capital Management seeking advice on restructuring, consolidation and regulatory compliance in the wake of the financial crisis. In all, ten partners and 40 other attorneys staff the investment fund formation and management group, with New York-based practice head John Tavss receiving plaudits as ‘not only an excellent lawyer but a nice man to deal with’. Highlights for 2010 included advising Atalanta Sosnoff Capital on selling a 49% economic interest to Evercore Partners for $69m. It also advised Toronto-based asset management firm Sprott Inc on its acquisition of US investment management and broker-dealer firm Global Resources Investments, which was unique in that it involved a cross-border, stock-for-stock transaction between government-registered financial services businesses. Clients particularly praise partners John Tavss and John Cleary.

Within M&A: middle-market (sub-$500m), tier 4

Seward & Kissel LLP’s transactional practice is particularly well recognized within the two industries where the firm has an international reputation for excellence, namely investment management and shipping. The firm ‘knows the middle-market and its odd nuances very well,’ say clients, ‘but it is equally comfortable and able in transactions involving corporate and financial buyers. It offers great value for a New York City-based firm and its industry knowledge in the investment management space for an M&A deal is unparalleled’. For other clients, the practice’s ‘dedication to the client is what makes the difference’. The team advised Atalanta Sosnoff Capital, a New York-based registered investment adviser, which manages more than $10bn of assets for institutional, high-net-worth and broker-advised clients, when it sold a 49% economic interest in Atalanta Sosnoff for approximately $69m in cash to Evercore Partners. The team also acted for Judlau Contracting, a New York-based heavy construction company that acts as general contractor for major public works projects, when Obrascón Huarte Lain, a Spanish-based construction company, acquired 50.1% of Judlau for a consideration consisting of payments amounting to $72.5m, with additional consideration to be paid based on post-closing performance. Co-business transactions group leader Craig Sklar ‘has earned my trust and confidence. From my perspective, the highest compliment that a lawyer can receive is to be viewed as practical, not tangled in theory, but caring about the client’s objectives, understanding where they fit in relation to the law, and achieving a working union between the two. Craig is that kind of lawyer, one that I would, and have, recommended to colleagues and friends’. Co-business transactions group leader Jim Abbott is ‘very helpful with the overall strategic advice and guidance he provides. Jim gets actively engaged in the entire process, providing superior service, and not only is he personable and affable, but he can subtly drive a very hard bargain’. Associate Nick Katsanos ‘is very effective at guiding us through issues that arise and crafting potential resolutions’.