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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

 

OXFORD NEWTECH ADVISED BY PINSENT MASONS ON REVERSE TAKEOVER OF ZI MEDICAL PLC

July 2005. Press Releases by Pinsent Masons (view listing).

Clinical and pharmaceutical device and diagnostic company, Oxford Newtech Limited, has been advised by a London corporate team from UK law firm Pinsent Masons, on its reverse takeover of AIM-quoted ZI Medical plc.

Oxford Newtech, an investee company of the leading European biotechnology venture capital fund, Merlin Biosciences, was formed to provide a platform for developing a significant UK based clinical and pharmaceutical device and diagnostic company. Its focus is on developing products for the US and European healthcare markets and on systems to expedite drug discovery and development. The enlarged group's strategy is to build on the successes achieved by ZI Medical to date in advancing product from prototype to market, in order to develop products for the growing UK, European and US clinical and pharmaceutical device and diagnostic markets.

The combined group will have a market capitalisation of approximately ?14 million following completion of a ?3.4 million placing by ZI Medical.

The Pinsent Masons team acting for Oxford Newtech was led by London Corporate Finance Partner, Darius Lewington with assistance from William Bankes. Pinsent Masons also acted for Merlin Biosciences on its original investment in Oxford Newtech in January 2005.

ZI Medical was advised by the Manchester office of Halliwells. Brewin Dolphin Securities Limited acted as Nominated Adviser and Broker to ZI Medical.

Ends

For further information, please contact:

Clare Turnbull, Head of PR & Communications,

Pinsent Masons on: 0845 300 32 32 or mobile 07884 110173

Read more…

PINSENT MASONS ADVISES THE GAUTENG PROVINCIAL GOVERNMENT IN SOUTH AFRICA ON ?830M GAUTRAIN RAPID RAI

July 2005. Press Releases by Pinsent Masons (view listing).

Projects specialists at UK law firm Pinsent Masons are supporting South African law firm Ledwaba Mazwai in advising the Gauteng Provincial Government on the R7bn (?830m) Gautrain Rapid Rail Link Project ('Gautrain'), the largest transportation infrastructure PPP project ever undertaken by South Africa. The government has announced that it has appointed the Bombela Consortium (Bombardier Transportation, Bouygues Travaux Publics, Murray & Roberts, the Loliwe companies and RATP D?veloppement) as preferred bidder.

Gautrain consists of an 80-km high speed rail system linking Johannesburg and Pretoria which is a key element of the infrastructure development programme due to be completed before South Africa hosts the 2010 football World Cup. Gautrain will be transferred back to the Gauteng Provincial Government at the end of the concession period. This concession period consists of a 4-5 year construction period followed by a 15 year operating period.

Patrick Twist, Pinsent Masons National Head of Projects said, 'Over a decade ago, we began advising the Government of South Africa on the first prison projects to reach financial close procured under PPP principles. Since then the firm has advised on several high-profile projects in the region and by doing so, has made a significant contribution to the success of the PPP programme in South Africa. It was a pleasure to work with this Government project team and we look forward to closing this important infrastructure project, one of the many transport infrastructure projects we are working on throughout Europe, Asia and Africa.'

The Pinsent Masons team consisted of Geoffrey Roberts (Projects Partner), Chris Kelly (Projects Partner), Sachin Kerur (Construction & Energy Senior Associate), Giles Taylor (Projects Senior Associate), Lisa Baird (Projects Associate), Ken Cooke (Projects Consultant) and Liam Terry (Projects Trainee Solicitor).

Ends

For further information, please contact:

Anna Sargent, Chosen Market PR Adviser

Pinsent Masons, on: 020 7490 6378 or mob: 07717 156 559

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

Internationally, the firm has offices in Brussels, Dubai, Hong Kong and Shanghai, as well as a series of strategic joint ventures and alliances in Denmark, Dubai, Estonia, France, Germany, India, Poland, Sweden, Spain and the USA.

Pinsent Masons has one of the largest teams of specialist PFI projects lawyers in the UK and is ranked number one in the Public Private Finance league tables having closed more UK PFI projects than any other law firm. The firm has extensive experience across all rail sectors both in the UK and internationally, having worked on a variety of major rail projects. These include;

? Dockland Light Railway Extension - advising the concessionaire;

? Dublin Light Rail System (Luas) - advising the department of Public Enterprise;

? Barcelona Bax Llobregat Tramway - advising Depfa Bank on the financing of this project;

? UK Rail Franchises - advising the Strategic Rail Authority on the extensions of existing franchises.

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PINSENT MASONS ADVISES THE GOVERNMENT OF THE REPUBLIC OF CYPRUS ON ?500M INTERNATIONAL AIRPORTS PROJ

July 2005. Press Releases by Pinsent Masons (view listing).

International projects specialists at law firm Pinsent Masons together with PricewaterhouseCoopers and EC Harris advised the Government of the Republic of Cyprus on the Cyprus Airports PPP Project which has achieved commercial close. The Project is the first major PPP project for Cyprus leading the way for future development of the country's infrastructure through public private partnerships and is one of the largest airport projects in Europe to date.

The contract is a 25 year concession between the Government and Hermes Airports Limited for the development and operation of the country's international airports at Larnaka and Pafos. Hermes Airports Limited is a special purpose vehicle comprising shareholders such as French construction giant Bouygues Bat?ment, airport operators YVR (Vancouver), Aer Rianta and A?roport Nice C?te d?Azur and a number of Cypriot partners including Cyprus Trading Corporation Ltd, Hellenic Mining Company and the contractors, Iacovou Brothers Ltd and Charilaos Apostolides & Co.

Under the terms of the contract Hermes Airports Limited will take over the existing airports and will construct new passenger terminals and associated infrastructure at both airports at a capital investment of around ?500 million. Together, the enhanced airports will be able to handle over 10 million passengers annually to a high level of quality standard (in 2004, almost 6.7 million passengers passed through the airports). The company will undertake further expansion of the airports as demand requires.

Andrew Dewsnap, Projects Partner commented, 'This has been an extremely interesting airport project to work on with lots of unique issues that had to be considered arising from the particular circumstances of Cyprus, its accession to the EU during the process and the fact it is the first PPP project to have been undertaken by the Government. Achieving commercial close will be seen as an important milestone for the development of further infrastructure projects on the island including the Pafos-Polis road and the Larnaka Port project where we are also part of the Government advisory team.'

Barry Francis, Head of Projects in London, added, 'Cyprus Airports follows two other important transport infrastructure projects which have recently achieved important milestones. Financial close was reached last month on the ?240m Docklands Light Railway extension in which we supported Amec/ RBS and the selection earlier this month of Bombela consortium as preferred bidder by our client the Gauteng Provincial Government on the ?830m project to link Pretoria to Johannesburg.'

The Pinsent Masons team consisted of Andrew Dewsnap, Catherine Workman (Projects Partner) and Carly Caton (Projects Solicitor).

The sponsors were advised by Norton Rose (Jon Ellis and Mark Jury) and the four mandated lead arranger banks by Freshfields Bruckhaus Deringer (Peter Block).

Ends

For further information, please contact:

Anna Sargent, Chosen Market PR Adviser

Pinsent Masons, on: 020 7490 6378 or mob: 07717 156 559

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

Internationally, the firm has offices in Brussels, Dubai, Hong Kong and Shanghai, as well as a series of strategic joint ventures and alliances in Denmark, Dubai, Estonia, France, Germany, India, Poland, Sweden, Spain and the USA.

Pinsent Masons has one of the largest teams of specialist PFI projects lawyers in the UK and is ranked number one in the Public Private Finance league tables having closed more UK PFI projects than any other law firm. The firm has extensive experience in the airports sectors both in the UK and internationally, having worked on a variety of airport projects. These include;

? Hyderabad International Airport, India - advising the preferred bidder;

? Mukalla International Airport, Yemen - advising the consortium;

? SkyPlaza Project (facilities at the existing terminal at Chep Lap Kok), Hong Kong ? advising the contractor;

? Beruit Airport ? advising the Government of Lebanon;

? Heathrow Airport, Fuel Storage Farm ? advising consortium;

? Heathrow Airport, Fuel Hydrant System ? advising consortium;

? Birmingham International Aiport ? advising public authorities;

? Luton Airport ? advising the authority;

? Manchester Airport Fuel Hydrant Refinancing ? advising the consortium;

? Gatwick Airport Fuel Hydrant Refinancing ? advising the consortium;

? Kuala Lumpur International Airport ? advising the authority;

? Manchester Airport Second Runway ? advising the authority.

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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…

ABBOT GROUP ADVISED BY PINSENT MASONS ON ?75.4 MILLION PROSAFE ACQUISITION

July 2005. Press Releases by Pinsent Masons (view listing).

Major offshore drilling contractor, Abbot Group plc, is being advised by a London Corporate Finance team from law firm Pinsent Masons, on the ?75.4 million acquisition of a Norwegian North Sea drilling contractor.

The acquisition by Abbot Group of Prosafe Drilling Services AS announced is being accompanied by a fundraising placing of approximately 8.8 million new ordinary shares at a price of 230 pence per share to raise approximately ?20 million.

Abbot Group, the largest offshore platform drilling contractor in the UK sector of the North Sea and one of the largest international land drilling operators outside the Americas, sees the Prosafe Drilling Services acquisition as a key part of its strategic drive to offer a complete portfolio of platform drilling and engineering services to the world's major oil companies, so securing the position of lead company in that field.

Pinsent Masons' Banking & Finance team has also advised Abbot Group on an NOK 750 million of additional facilities with The Royal Bank of Scotland and The Governor and Company of the Bank of Scotland to finance the acquisition in part.

Pinsent Masons lead adviser to FTSE 250-ranked Abbot Group, Corporate Finance Partner, Alan Farkas, commented: 'This is an important deal for Abbot as it gives them an entry into the Norwegian sector of the North Sea enabling them to offer services across the North Sea to major oil company clients. It also gives them a platform for developing their presence in the significant Norwegian market with major Norwegian oil companies both in Norway and internationally.'

JPMorgan Cazenove Limited is acting as the sole financial adviser to Abbot. JPMorgan Cazenove and Arden Partners Limited are acting as joint lead managers in respect of the placing.

The Pinsent Masons team acting for Abbot Group, led by Alan Farkas, comprised Hannah Brader and Stephen Swan (corporate), Martin Bishop and Kate Myles (banking & finance); Martyn Hann and Vivien Gray IP/IT); Louise Haworth (competition), Robert Mecrate-Butcher (employment), and Mark Cawthron (tax).

Abbot Group has been advised in Norway by Norwegian firm Bugge, Arentz-Hansen & Rasmussen, led by Morten P.Sm?rdal and Thomas J Fjell.

Prosafe has been advised by Norwegian firm, Wikborg, Rein & Co led by Haakon Blaauw, and by Goldman Sachs.

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

The firm, ranked in the top 10 of legal advisers to UK listed companies and a top 10 adviser to FTSE 250 companies, has a national Corporate team of some 100 lawyers, of which 40 (including 14 partners) are based in its London City office.

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DUNEDIN ADVISED BY PINSENT MASONS ON BACKING OF ?27M MBO OF ZENITH VEHICLE CONTRACTS

July 2005. Press Releases by Pinsent Masons (view listing).

One of the UK's leading independent fleet management specialists has been successfully sold to management in a ?27 million deal backed by Dunedin Capital Partners.

Dunedin provided an ?11 million funding package of equity and mezzanine, with the company?s existing bank, the Royal Bank of Scotland, providing a senior debt and working capital facility.

Zenith is a niche provider of bespoke fleet management services, normally to companies with car fleets of 250 to 1,500 cars, and supplies a blue chip client base which includes Asda, DuPont, Ernst & Young, Persimmon, Remploy and BUPA.

Andrew Cope, chief executive of Zenith, led the buyout supported by finance director Mark Phillips, sales director Philip Jerome and commercial director David Loseby. Mark Ligertwood and Shaun Middleton of Dunedin led, structured and completed the transaction. Ligertwood will join the company as a non-executive director. The MBO will allow the management team to grow the business significantly over the next five years.

Andrew Cope of Zenith commented: ?The MBO will allow us to continue to develop the business through excellent service provision and product innovation. This, together with significant investment in information technology, has already enabled the company to win larger contracts whilst continuing to focus on existing customers and with Dunedin?s backing we look forward to seeing this trend continue over the coming years.?

Mark Ligertwood, investment director of Dunedin added: ?This was an excellent opportunity to back a management team we have been tracking for some considerable time, in a growing cash generative business. This energetic, dynamic and creative team has the drive to take the business to the next stage of development.

'This is the second consecutive deal in which Dunedin has provided over ?10 million of debt and equity. It provided ?11 million of debt and equity finance for the MBO of New Horizons in December 2004.?

Peter Wood led the Pinsent Masons team advising Dunedin on their equity investment, assisted by Anna Whetham, and John Cleland and Philip Scott advised Dunedin on their mezzanine investment.

The deal saw a full exit for 3i.

Ends

For further information please contact:

Sue Murdoch, PR & Communications Manager, Pinsent Masons

Tel: 0845 300 3232

Mob: 07884 110174

Email: sue.murdoch@pinsentmasons.com

Notes to Editors:

Dunedin Capital Partners is an independent mid-market private equity company owned by its directors. The company specialises in the provision of private equity for MBO's, MBI's and acquisitions with a transaction size of ?10m - ?50m. Dunedin operates throughout the UK from its offices in Edinburgh and London.

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

The firm is ranked in the top 10 of legal advisers to UK listed companies and is a top 10 adviser to FTSE 250 companies.

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PINSENT MASONS ANNOUNCES NEW SENIOR PARTNER

July 2005. Press Releases by Pinsent Masons (view listing).

Leading law firm, Pinsent Masons, has announced the election of a new senior partner. Chris Mullen, joint head of the firm's Financial Services & Insurance Chosen Market and Group Head of Employment, Pensions and Tax, takes over from Julian Tonks who has stepped down for health reasons.

Chris Mullen was elected after a vote of the firm's 264 partners in the UK and overseas. He takes up the position from 1 July 2005. His term of office will run concurrent with that of the firm's board through to December 2007.

'I am delighted and honoured to be taking on the role of senior partner, although saddened by the circumstances in which this has come about,' said Chris. 'Six months post-merger Pinsent Masons is seeing the benefits of its merger. Our decision to focus our strengths into those market sectors where our expertise and experience make a real difference for clients is bearing fruit. We will all be working hard to ensure this continues.'

Chris operates at the forefront of one of the fastest developing and highest profile areas of law. As one of the country's most respected pensions lawyers, he acts for some of the UK's largest companies and pension schemes. He has extensive experience across the whole range of pensions law, including strategic advice, mergers and transaction-related work, advice for independent trustees, dispute resolution and compliance.

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Notes to Editors:

Chris Mullen

Chris Mullen qualified as a lawyer in 1986 with the then Biddle & Co. He built a highly successful pensions team at Biddle and became head of Biddle's pensions group in 1998, then national head of that group when the firm merged with legacy Pinsents in 2001. In 2002 Chris became lead partner of the firm's Financial Services & Insurance 'chosen market', sharing this role as joint lead partner following the merger of Pinsents and Masons last December. In December 2004 Chris also became Group Head of Employment Pensions & Tax, when those groups were aligned in a restructuring of the firm's practice areas. As Group Head, Chris is responsible for the three national teams of employment pension and tax lawyers, numbering well in excess of 100 and under both roles combined has responsibility for approximately one-third of the firm's turnover. Within the Financial Services and Insurance Chosen Market, Chris is responsible for developing the firm?s understanding and penetration of this key market for the firm.

Pinsent Masons

Pinsent Masons is a full service commercial firm with 264 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester. Internationally, Pinsent Masons has offices in Brussels, Dubai, Hong Kong and Shanghai, as well as strategic alliances or joint ventures with firms in Denmark, Dubai, Estonia, France, Germany, India, Poland, Sweden, Spain and the USA.

The firm, ranked in the top 10 of legal advisers to UK listed companies. It is a top 20 adviser to FTSE 100 companies and in the top 10 of advisers to FTSE 250 and FTSE 350 companies.

Pinsent Masons board comprises the Senior Partner, Managing Partner (David Ryan), Chosen Markets Partner (Alastair Morrison), International Partner (Tony Bunch) and Finance Director (Steve Hancock).

Julian Tonks

Julian Tonks, one of the country's leading tax lawyers, was appointed senior partner to the then Pinsent & Co in 1994. He retained that position through three mergers which has seen the business grow into a ?150 million turnover, international business.

For further information, please contact:

Clare Turnbull, National Head of PR & Communications,

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

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

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PINSENT MASONS CELEBRATES COMPLETION OF FIRST CORPORATE DEAL FOR LEND LEASE

June 2005. Press Releases by Pinsent Masons (view listing).

Lend Lease Europe Holdings Limited has used the corporate team of law firm Pinsent Masons for the first time to advise on the high profile ?261million acquisition of The Crosby Group plc.

The choice of Pinsent Masons, among just five firms to be appointed to Lend Lease Europe's first ever UK panel, represents a massive show of confidence by the company, which had a strong pre-merger relationship with the construction team at Masons.

Lend Lease Europe, a subsidiary of the listed Australian property company, Lend Lease Corporation, moved to appoint its UK law firm panel just as partners at the legacy Masons and Pinsents firms were to vote on a merger ? some three months before the new Pinsent Masons was launched.

The strength of the Masons' relationship and its market leading construction team, combined with the corporate capability of Pinsents, and the merged firm's market sector focus helped to secure the prestigious panel place alongside Allen & Overy, Linklaters, Eversheds and DLA.

'The proposed acquisition by Lend Lease Europe of Crosby from The Berkeley Group Holdings plc is the first real opportunity the company has had to test our corporate capability,' said Pinsent Masons London Corporate Finance Partner, Jeremy Phillips, who led the team advising Lend Lease.

'The scope of the deal which involved investigating and reporting on 11 major development sites belonging to Crosby in Manchester, Leeds and Birmingham, and a further 22 other main sites as well as some 196 other properties, means that Lend Lease has had a good chance to experience our corporate, property, environmental, pensions, employment, IP and IT capability,' said Phillips.

The deal is the kind of dividend Pinsent Masons anticipated reaping from its merger, building on the strength of its client relationships to offer a new and broader service as a result of the enhanced expertise and services of the merged firm.

The nature of the Lend Lease deal brought a further 'dividend' for Pinsent Masons with many of the lawyers in the 100-strong multi-discipline, multi-office team working together for the first time. 'I cannot praise highly enough the hard work, dedication and commitment of the team,' said Phillips.

The deal, which is expected to complete on 8 July, has seen Lend Lease Europe Holdings Limited acquire Crosby, the leading urban regeneration specialist which has built its reputation around city living, from The Berkeley Holdings Group plc. The deal includes a ?10 million payment to the Crosby management team, which gained a stake in the business two years ago. The management team, led by Geoff Hutchinson, is to stay on.

The deal broadens the scope for participation by Lend Lease, developer of the massive Bluewater Shopping Centre in Essex, in major land development schemes, Government-sponsored affordable housing and urban regeneration projects, and mixed-use retail/ residential projects.

Neil Martin, In-House Counsel at Lend Lease Europe, said: 'Crosby Homes is a major acquisition for Lend Lease and the part Pinsent Masons played in the deal was crucial to its success. What was particularly pleasing was the strength and depth of the new merged firm to resource the deal with high quality specialist lawyers from a range of departments.

The fact that the Pinsent Masons core markets align with our own is something that as a company we place high on the agenda.'

Notes to Editors:

Pinsent Masons is a top 15 UK law firm and ranks in the Global 100. The firm has more than 260 partners, a legal team of over 900 and total staff worldwide in excess of 1,500. The team acting on the Crosby Group acquisition included:

? Corporate ? Jeremy Phillips (lead partner), Andrew Masraf (partner), Robert Moir, Iain Butler, Sadhbh Kavanagh.

? Property ? Hugh Bruce Watt (partner), Kevin Boa, Sian Porton, Stephen Brown (partner), Harry Nesbitt, Jonathan Riley, Richard Griffiths, Aniki Porter, Richard Collett, Shayne Foley, Andrew Pedley, Charlotte Underwood, Ian Stewart, Lucy Edwards, James Speed, Peter Denley, David Meecham, Jenny Wilson, Richard Daffern (partner), Sean Houlihan, Ali Ramza, Clive Linley, Graham Garvie, Rachel Anderson, Mark Taylor, Joseph Gill (partner).

? Environmental ? Richard Ford (partner), Helen Keele, Claire Smith, Victoria Austin, Alex Burton.

? Pensions ? Alastair Meeks (partner), Josie Crump, Sarah Boon.

? Employment ? Tom Flanagan (partner), Emma Peacock, Sarah Banatvala.

? Banking & Finance ? Martin Bishop (partner), Frances Mallender.

? Tax ? Stephen Lane (partner).

? Outsourcing & Technology ? Martyn Hann (partner), Elizabeth Cook, James Pratt.

? Insurance ? Matthew Griffith (partner), Simon Thomas.

? Construction ? Michael Mullarkey (partner), Brad Fearn, Edward Butler.

? DR&L ? Kevin Bridges, Louise Nahon.

Other advisers:

The Berkeley Group Holdings plc was advised by Shearman & Sterling

The Management of The Crosby Group plc was advised by Eversheds.

For further information, please contact:

Clare Turnbull, National Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

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

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Smart & Cook makes biggest acquisition to date

June 2005. Press Releases by Pinsent Masons (view listing).

Smart & Cook Group Limited has been advised by Pinsent Masons on one of its largest acquisitions to date ? the purchase of Hammon Osborne Holdings Limited. The purchase will put Smart & Cook's premium income above ?200 million for the first time and its revenues should break the ?30 million mark.

Hammon Osborne of Northampton has operated in the insurance broking business for clients across the UK for almost 30 years.

The acquisition is the 47th for Harrogate-based Smart & Cook since it was founded in 1968. The company, which specialises in serving the small to medium sized business sector, operates a UK network of 16 locally-managed region offices and employs over 450 people.

Corporate Partner Peter Wood led for Pinsent Masons assisted by Catherine Hemsworth (corporate) supported by Caroline McDermott (tax), Philip Scot (banking) and Liz Johnson and Andrew Long (insurance).

The Pinsent Masons team has advised Smart & Cook on its ?57 million investment by 3i and The Royal Bank of Scotland, as well as on a series of strategic acquisitions including Credit Insurance Brokers (UK) Limited Gale & Philipson Limited, G&P Investments Limited, Mandroyds Limited, Alan H Lavendar & Co Limited and Lindo & Tindale Limited

Hammon Osborne were advised by Howes Percival, Leicester.

Ends

For further information please contact:

Sue Murdoch, PR & Communications Manager, Pinsent Masons

Tel: 0845 300 3232

Mob: 07884 110174

Email: sue.murdoch@pinsentmasons.com

Notes to Editors:

Pinsent Masons is a full service commercial firm with 265 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

Internationally, Pinsent Masons has offices in Brussels, Dubai, Hong Kong and Shanghai, as well as a series of strategic joint ventures and alliances in Denmark, Dubai, Estonia, France, Germany, India, Poland, Sweden, Spain and the USA.

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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

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PINSENT MASONS ADVISES BALFOUR BEATTY CONSTRUCTION JOINT VENTURE ON ?140 MILLION NORTH LANARKSHIRE S

June 2005. Press Releases by Pinsent Masons (view listing).

Construction and PFI specialists at UK law firm Pinsent Masons advised Balfour Beatty Construction Limited and Balfour Kilpatrick Limited (as joint venture building contractor) on North Lanarkshire Council?s Education 2010 PFI schools project. The capital element of the bond financed project involves construction works to the value of approximately ?140 million and over ?100 million of long-term service revenue.

The 31-year concession involves the construction and operation of 21 new schools, including three large secondary schools in Airdrie and Coatbridge, six primary schools and a further 12 primary schools provided over six joint campus facilities, together with a public library and a Community Education Centre. There is potential for a further three schools to be constructed as part of the project.

Construction work by the joint venture building contractor began under an advance works contract in October 2004. Completed schools will be handed over between January 2006 and October 2008.

Graham Alty, Construction & Engineering Partner at Pinsent Masons commented, 'This is the tenth schools project where Pinsent Masons have acted for building contractors in the past three years, with another three projects due to close in the next few months. We are pleased to have had the opportunity to again work with Balfour Beatty on this important project which will result in a great number of state of the art schools for the next generation.'

The Pinsent Masons team was led by Chris Hallam (Senior Associate), and included Hannah Fletcher and Ian Stubbs ? all from the Transactional Team ofthe Construction & Engineering Practice Group.

Tods Murray LLP advised Transform Schools, Shepherd & Wedderbern advised North Lanarkshire Council and McGrigors advised the funders.

Ends

For further information, please contact:

Anna Sargent, Chosen Market PR Adviser

Pinsent Masons, on: 020 7490 6378 or mob: 07717 156 559

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

Pinsent Masons' Construction and Engineering Group comprises over 100 dedicated lawyers, the largest construction and engineering team in the UK, over 30 of whom are solely dedicated to transactional work. Regarded as the 'market leader' by Legal 500 we have extensive experience and expertise in advising the UK construction and engineering industry on all contentious and non-contentious legal issues.

The firm also has one of the largest teams of specialist PFI projects lawyers in the UK and is ranked number one in the Public Private Finance league tables having closed more UK PFI projects than any other law firm.

Internationally, Pinsent Masons has offices in Brussels, Dubai, Hong Kong and Shanghai, as well as a series of strategic joint ventures and alliances in Denmark, Dubai, Estonia, France, Germany, India, Poland, Sweden, Spain and the USA.

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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

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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

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PINSENT MASONS ADVISES ODPM/4ps ON 'DEVELOPING JOINT SERVICE CENTRES THROUGH NHS LIFT, PFI AND BSF'

June 2005. Press Releases by Pinsent Masons (view listing).

Public Private Partnership specialists at law firm Pinsent Masons have developed a toolkit for 4ps and the Office of the Deputy Prime Minister (ODPM), designed to steer local authorities through the process for developing joint service centres providing access to a range of local services.

The procurement pack was launched by Jim Fitzpatrick, Parliamentary Under Secretary of State, to help facilitate collaboration between councils, NHS Trusts, other public sector bodies and voluntary agencies. It also includes a model contract, approved by HM Treasury as being compliant with standard PFI mandatory drafting for use on all PFI joint service centres.

Pinsent Masons were appointed by 4ps to assist with the development of guidance for authorities to identify:

? how joint service centres can assist authorities meeting their Gershon efficiency targets,

? opportunities for collaborative working with other public and voluntary sector agencies as well as strategies for managing associated risks;

? how to conduct options analyses to help determine whether traditional procurement, the Private Finance Initiative (PFI), the Department of Health's Local Improvement Finance Trust initiative (LIFT) or the Department for Education and Skill's Building Schools for the Future programme (BSF) is the most suitable delivery vehicle; and

? the steps needed to deliver a joint service centre through PFI and LIFT.

Ranked as number one in the Public Private Finance league tables, having closed more UK PPP projects than any other law firm (with a combined capital value in excess of ?200 billion), Pinsent Masons' expertise in using its transactional experience to develop local government sector specific guidance is illustrated through its hat-trick of assisting with the drafting of the:

? 4ps/ODPM Housing (HRA and Non-HRA) PFI Procurement Pack,

? 4ps/Defra Waste Management Procurement Pack; and

? 4ps/ODPM Joint Service Centre Procurement Pack.

Launching the pack, Jim Fitzpatrick MP said, 'I commend this Procurement Pack as a valuable tool that will contribute both to the development of joint service centres as a means of improving the face-to-face element of access to public services and information; and of facilitating joint working with other public agencies, particularly with the health sector though the LIFT initiative.'

Alan Aisbett, Pinsent Masons Projects Partner, commented, 'The requirement for authorities to deliver annual efficiency savings has been given renewed focus since the implementation of the Gershon Review. This Procurement Pack goes further than other packs by addressing how authorities can use the benefits of existing PPP delivery vehicles for the mutual benefit of a range of public and voluntary sector partners. The model documentation and guidance contained will ensure authorities and their partners are excellently placed to deliver efficient and accessible public services organised around the needs of service users.'

Rob Hann, 4ps Director, Legal and Joint Services, added, ?I am very grateful to the Pinsent Masons team for their help and assistance during the development of this procurement pack and model contract. The pack represents two years of hard work by all concerned. The pack harvests the know-how from a number of PFI and NHS LIFT schemes, particularly those at Stoke and Newcastle and captures that knowledge for wider local government use.'

The Pinsent Masons team comprised Alan Aisbett (Partner), Yousof Khan (Senior Associate) and Navjeet Virk (Solicitor).

Ends

For further information, please contact:

Anna Sargent, Chosen Market PR Adviser

Pinsent Masons, on: 020 7490 6378 or mob: 07717 156 559

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

Internationally, Pinsent Masons has offices in Brussels, Dubai, Hong Kong and Shanghai, as well as a series of strategic joint ventures and alliances in Denmark, Dubai, Estonia, France, Germany, India, Poland, Sweden, Spain and the USA.

4ps (the public private partnerships programme) are the local government expert procurement agency, a local government central body.

Pinsent Masons has advised on over a third of all LIFT projects which have closed to date, are on the 4ps national panel of legal advisers to for LIFT and are on the Partnerships for Schools panel of legal advisers for BSF. Further details about BSF and LIFT can be obtained from www.bsf.gov.org.uk and www.doh.gov.uk respectively.

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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

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SCOTTISH GAMES DEVELOPER ADVISED BY PINSENT MASONS ON ACQUISITION

June 2005. Press Releases by Pinsent Masons (view listing).

Premier computer games developer, DC Studios, has been advised by a team from Pinsent Masons in Leeds and Scotland on the acquisition of certain assets and the licence of rights to develop the State of Emergency 2 game.

Canadian-based DC Studios, which develops games for leading brands such as Nintendo, Sony and Microsoft, acquired the assets and licence from the Scottish-based games developers VIS Entertainment and SOE Development acting by their administrator, Tenon Limited.

The Scottish arm of DC Studios, which has offices in Glasgow and Edinburgh, will now complete the development of State of Emergency 2 in readiness for a market launch.

Taking place 10 years after the events of the original title, State of Emergency 2 will offer similar gameplay mechanics to its predecessor while adding a host of new modes, more weapons, and an original engine that has been built from the ground up.

The Pinsent Masons team advising DC Studios comprised John Salmon (Outsourcing, Technology & Commercial ? OTC Partner), Louise Fullwood (OTC), Derek Stroud (Head of Corporate, Scotland), Stephen Swan (Corporate) and Neil Hogg (Property).

Mark Greenshields, DC Studios' CEO commented: 'John Salmon and his team pulled out the stops to get this acquisition done as quickly as possible and were instrumental in helping us through the complexities of this transaction. When push came to shove Pinsent Masons came through for DC and we are glad to have them as our legal advisors here in the UK.'

Pinsent Masons' Partner John Salmon, added: 'DC Studios has a great games development track record and this acquisition is an exciting development opportunity for the Scottish operation.'

The administrators were advised by Shepherd + Wedderburn.

Ends

For further information, please contact:

Eilidh Douglas, Business Development Executive

Pinsent Masons, DDI: 0141 249 5408 or

Clare Turnbull on: 0845 300 32 32

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in Glasgow, Edinburgh, London, Birmingham, Bristol, Leeds and Manchester. The firm has a market-leading Outsourcing and Technology practice.

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ISISEP ADVISED BY PINSENT MASONS ON INVESTMENT IN BOLDON JAMES MBO

June 2005. Press Releases by Pinsent Masons (view listing).

ISIS Equity Partners plc (ISISEP) has been advised by a specialist team from Pinsent Masons on its investment in Boldon James Limited, a messaging solution provider. The company has been sold to its management team by Boldon James Holdings Limited in a ?5.5 million transaction.

Crewe based Boldon James Limited which employs 63 people supplies formal messaging software solutions, such as secure email, to defence and intelligence organisations across the world as well as to local and national Governments. It has also recently pioneered the introduction of similar standards to the civil aviation market. Its applications are commonly used for communicating highly confidential strategic and tactical information across multiple sites and geographic jurisdictions, which are applicable for both combat and corporate arenas.

Corporate Partner Peter Wood led for Pinsent Masons assisted by a cross-departmental team including Catherine Hemsworth and Jon Robinson (corporate), Stephen Woods and Emma Kerr (banking), Pam Young (property), Caroline McDermott (tax), Louise Crook (employment), Ian McKie (Commercial) and John Hanratty (pensions).

James Hall and Andy Gregory led the transaction for ISISEP. Andy Gregory will join the Boldon James board on behalf of ISISEP. Joining the business as Chairman is Richard Beaton, former CEO of Imasys and Anite Public Sector Limited.

The MBO was led by Managing Director Martin Sugden who commented: ?The military and intelligence sectors have been quick to grasp the need for adding functionality to basic e-mail to provide certain and secure delivery. Boldon James is the market leader in the provision of this functionality. Large corporates are now realising that the key strength of e-mail, its ease of use, is leading to significant management and control problems, which Boldon James is well placed to deal with.?

James Hall of ISIS Equity Partners added: ?The strength of the recurring underlying revenue streams of Boldon James combined with prospects for growth made this deal an attractive opportunity for us. We are looking forward to supporting Martin and the management team with the development of the business.?

Management were advised by Wragge & Co. Debt finance was provided by Lloyds TSB Acquisition Finance. Grant Thornton Corporate Finance advised BJ Holdings Ltd.

Ends

For further information please contact:

Sue Murdoch, PR & Communications Manager, Pinsent Masons

Tel: 0845 300 3232

Mob: 07884 110174

Email: sue.murdoch@pinsentmasons.com

Notes to Editors:

Pinsent Masons is a full service commercial firm with 265 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

Internationally, Pinsent Masons has offices in Brussels, Dubai, Hong Kong and Shanghai, as well as a series of strategic joint ventures and alliances in Denmark, Dubai, Estonia, France, Germany, India, Poland, Sweden, Spain and the USA.

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…

New Forum for Healthcare Sector Investors Launched

June 2005. Press Releases by Pinsent Masons (view listing).

Healthcare has become one of the 'hot' sectors for UK private equity investment, ranking as the third most active sector, and now two firms of professional advisers have decided to encourage more mid-market activity.

The sector's power to generate cash, growth opportunities offered by an ageing population, the debt market's willingness to fund transactions and prospects of further consolidation have driven investment interest in the sector.

Chief among the areas of interest are the provision of residential care for the elderly, specialist care homes for children and adults with learning and/or behavioural difficulties and associated educational facilities.

The interest coincides with a time when the ever-increasing standards being imposed by the regulatory bodies, such as CSCI and Ofsted, on smaller care home businesses makes them uneconomic and is fuelling consolidation activity.

Whilst the big players such as Blackstone, Barchester and Southern Cross receive plenty of attention, the quality mid-market players have been less talked about but this is where the consolidation opportunities lie. Activity is focused both on putting similar businesses together and on creating specialist multidisciplinary groups of homes offering a high quality of care.

Many of these mid-market businesses are now targets for venture capitalists who will focus on looking for ways to add value and a route to exit, further fuelling the market. The key, as always, is finding quality managers who can maintain the standards of care as a business grows.

Law firm Pinsent Masons and PricewaterhouseCoopers Corporate Finance have both experienced the explosion of interest in the sector at first hand, with their active and well respected national healthcare teams advising on a series of mid-market deals.

They have now decided to gather the best mid-sized specialist care businesses together to provide a networking opportunity, enabling the key members of these organisations to meet on an informal basis to swap ideas and discuss topical issues.

Stephen Bradshaw, the Director of Schools and Development at the Priory Group, guest speaker at the first networking dinner held at Bank Restaurant, Birmingham, gave his views on the challenges facing the specialist care and education market.

Stephen commented: 'The high interest in the care and education markets at the moment is understandable. They are specialist areas with high barriers to entry with a set income paid in advance; what has been unusual is the length of time it has taken investors to consider this market stable and profitable enough to invest in.'

Ends

For further information please contact:

Joanne Ellis, Corporate Partner, Pinsent Masons, on: 0121 335 2914

Andy Parker, Director, PricewaterhouseCoopers Corporate Finance, on: 0121 265 5536.

Notes to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester. The firm is strongly sector focused and has a leading practice in corporate and public sector healthcare.

PricewaterhouseCoopers (www.PricewaterhouseCoopers.com/uk) provides industry-focused assurance, tax and advisory services for public and private clients. More than 120,000 people in 144 countries connect their thinking, experience and solutions to build public trust and enhance value for clients and their stakeholders.

Unless otherwise indicated, PricewaterhouseCoopers refers to PricewaterhouseCoopers LLP a limited liability partnership incorporated in England. PricewaterhouseCoopers LLP is a member firm of PricewaterhouseCoopers International Limited.

Read more…

PINSENT MASONS ADVISES ON WASTE CONTAINER BUSINESS SALE TO ECI PARTNERS

June 2005. Press Releases by Pinsent Masons (view listing).

The selling shareholders of market leading waste container manufacturer, Taylor Continental Holdings Limited, have been advised by UK law firm, Pinsent Masons, on the buyout of their business by ECI Partners.

ECI Partners, a leading UK mid-market buyout specialist, is backing a new management team, which includes Alden Taylor, grandson of the founder.

Taylor Continental, which manufactures a range of steel and plastic waste containers for household and commercial markets, employs 200 people at its Worcestershire base. It had a turnover of ?22.6 million in 2004.

Private equity specialists at Pinsent Masons have advised the selling shareholders, family members Anton, Adair, Alston and Axine Taylor, on the sale of the entire issued share capital for an undisclosed sum.

The Pinsent Masons team has been led by Private Equity Partner, Paul Harkin with Lee Clifford, Jonathan Snade and Alexander Edmondson (corporate); Veronica McMahon and Chris Thomas (tax); Charlotte Underwood (property); Giles Warrington and Amy Hitchen (competition); Paul McClenaghan (Outsourcing, technology & commercial); Andrea Paxton (employment) and Ashton Davies (pensions).

ECI Partners have been advised by Burges Salmon and PwC Finance.

The management team has been advised by Osborne Clarke

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

Note to Editors:

Pinsent Masons is a top 15 UK law firm with more than 260 partners, a legal team in excess of 900 and more than 1500 staff worldwide. The firm boasts a national Corporate Group of almost 100 lawyers, of which 36 are partners.

The firm is ranked as a top 10 advisers to UK listed companies and is in the top 20 of M&A legal advisers in the UK and in Europe.

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Pinsent Masons Supports Extension of Major MoD Telecoms Outsourcing Contract

June 2005. Press Releases by Pinsent Masons (view listing).

Pinsent Masons? Outsourcing, Technology and Commercial practice announced today that it has acted on behalf of the Ministry of Defence (MoD) on the renegotiation and extension of the Defence Fixed Telecommunications System (DFTS) contract with BT. The extension to the project is valued in excess of ?1.5 billion and will secure the continued delivery of essential telecommunications services to the MoD and the UK Armed Forces as well as providing significant cost savings to the MoD.

Pinsent Masons advised the MoD on all legal aspects of the DFTS contract, widely perceived to be one of the most successful telecoms partnering arrangements in government. The team was led by technology partners David Isaac and Bridget Fleetwood, supported by assistants Ben Murphy and David Cole. As part of the renegotiation, the Pinsent Masons team reviewed key areas of the previous contract to reflect developments in PPP and telecoms best practice.

The original DFTS contract was awarded to BT in 1997 following a competition, and enabled the MoD to rationalise its telecoms service requirement and achieve major cost savings. The extended contract will involve the introduction of new technology and produce benefits to contribute to operational effectiveness and future capabilities. It will also provide further, substantial cost savings, predicted at ?15 million per year.

Bridget Fleetwood, a partner at Pinsent Masons commented, ?The DFTS contract is one of the most advanced partnerships in telecoms outsourcing in the UK, demonstrating how the private sector can work with government to provide value and effective technology solutions. This extension will encourage both parties to drive change to address the current and future needs of the MoD. In addition, the significant savings predicted through this new contract are a good example of why we recommend that outsourcing contracts should be regularly reviewed and, where appropriate, renegotiated.?

Darryl Midgley, who heads up the integrated project team responsible for DFTS, commented, ?With the DFTS contract extension now extended to 2012, we at last have a stable platform on which to concentrate our efforts for some time to come. Considerable hard work was expended by both teams in finalising the negotiations, and everyone involved should be congratulated in a magnificent effort which has enabled a deal that will deliver more than ?200m in savings to the Department.'

Ends

For further information please contact:

Vincent Gray,Pinsent Masons

vincent.gray@pinsentmasons.com

T: 0207 490 6276

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PINSENT MASONS ADVISES PANMURE GORDON & CO ON TENDER OFFER

June 2005. Press Releases by Pinsent Masons (view listing).

Panmure Gordon & Co is being advised by a corporate team from the London office of UK law firm, Pinsent Masons, on a tender offer by property investment company, London & Associated Properties PLC (LAP).

Panmure Gordon & Co is offering to purchase up to 10,309,278 Ordinary Shares at between 97p and 104p, with any tendered shares to be subsequently purchased on-market by LAP from Panmure Gordon & Co, in order to return up to ?10 million of capital to the shareholders of LAP. The tender offer closes on 24 June.

LAP has decided on the share buy back against the backcloth of a flat market for property investment and a desire to create value for its shareholders.

The Pinsent Masons team acting for Panmure Gordon & Co comprises Corporate Finance Partner, Jon Harris, and senior associate, Sean Page.

LAP is being advised by Olswang.

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

The firm, ranked in the top 10 of legal advisers to UK listed companies, has a national Corporate team of some 100 lawyers, of which 40 (including 14 partners) are based in its London City office.

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Docklands Light Railway ? Woolwich Arsenal extension reaches Financial Close

June 2005. Press Releases by Pinsent Masons (view listing).

The further development of the Docklands Light Railway reached a significant stage with the financial close of the DLR Woolwich Arsenal PPP project on 31st May 2005.

The project involves the construction of a 2.5 km extension from King George V to North Woolwich with two parallel bored tunnels being constructed under the Thames.

Pinsent Masons acted for Woolwich Arsenal Rail Enterprises Limited ('WARE') the Special Purpose Vehicle jointly owned by Amec and RBS. WARE raised ?240 million of debt and equity finance comprising ?100 million from EIB and ?115 million from RBS (the balance in equity).

Ian Laing led the cross-office team which included Jon Hart, Nick Tidnam, Annette Blane and Robert Graham.

WARE will be responsible for the maintenance of the railway for a period of approximately 30 years and for making it available to DLR (through its franchisee) to operate trains. The line is anticipated to be operational by 2009.

The aims for the Woolwich extension are stated as:

? To create a new link that will significantly improve access for the communities of Woolwich, Silvertown and North Woolwich, by providing an alternative crossing of the River Thames and assisting in a sustainable shift from car to public transport.

? To provide a new direct rail connection from Woolwich to the City and Canary Wharf and London City Airport that will enhance access to jobs and amenities.

? To be the catalyst for substantial regeneration of Woolwich and the Southern Royal Docks, and help to bring new jobs, homes, shops and leisure facilities to those areas.

EIB and The Royal Bank of Scotland were advised by Freshfields. acted for RBS and EIB, Docklands Light Railway were advised by Ashursts.

Ends

For further information please contact:

Sue Murdoch, PR & Communications Manager, Pinsent Masons

Tel: 0845 300 3232

Mob: 07884 110174

Email: sue.murdoch@pinsentmasons.com

Notes to Editors:

Pinsent Masons is a full service commercial firm with 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

Internationally, Pinsent Masons has offices in Brussels, Dubai, Hong Kong and Shanghai, as well as a series of strategic joint ventures and alliances in Denmark, Dubai, Estonia, France, Germany, India, Poland, Sweden, Spain and the USA.

The firm advises 10 central government departments and over 15 agencies/NDPBs. We act for major UK listed companies and major multinational companies, including 76 companies in the FTSE 250, Fortune 500 and NASDAQ companies.

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PINSENT MASONS PARTNER TAKES UP REINS AT FACULTY OF BUILDING

June 2005. Press Releases by Pinsent Masons (view listing).

Catriona Dodsworth, a Construction Partner at leading UK law firm Pinsent Masons, has been appointed as the new Chair of the London branch of the Faculty of Building.

Catriona, who succeeds Dean Buchanan of architects Buchanan Associates, has more than 10 years experience advising some of the UK's leading construction companies on major building and civil engineering contracts as well as acting in all the various forms of dispute resolution procedures including ADR.

She says : 'The construction industry has seen many changes over the past fifty years and although significant improvements have been made since the publication of the Egan report almost a decade ago there is still a long way to go. I am delighted and honoured to be appointed Chair of the London Branch of this prestigious organisation. For sixty years the Faculty of Building has been promoting good practice and fostering closer links between the many different professions within the construction industry. I intend to carry on that tradition by spearheading a number of profile raising and networking opportunities and initiatives for our members in London over the coming year.'

With more than 2000 members nationally (and around 200 in London) the Faculty of Building is a national networking organisation founded in 1945 to share knowledge, encourage good practice and promote continuous improvement across the diverse disciplines within the construction industry.

Richard Laudy, London Head of Construction at Pinsent Masons, said : 'Catriona's appointment will be a major asset to the organisation and is a credit to Pinsent Masons.'

Pinsent Masons is one of the UK's leading law firms. Its UK Construction & Engineering Group of 26 partners and more than 80 legal support staff in offices across the UK has extensive experience in advising the UK construction and engineering industry on all contentious and non-contentious legal issues.

ENDS

For media enquiries contact :

Lakhbir Rakar

CM PR Advisor

Pinsent Masons

Tel : 0121 260 4005

Mob : 07748 321943

lakhbir.rakar@pinsentmasons.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…

PINSENT MASONS ADVISES PROVEXIS ON REVERSE TAKEOVER OF NUTRINNOVATOR

June 2005. Press Releases by Pinsent Masons (view listing).

Health food developer and nutraceutical company, Provexis Limited, is being advised by a London corporate team from UK law firm Pinsent Masons, on its reverse takeover of AIM-quoted Nutrinnovator Holdings plc.

Provexis, which has developed a drinks additive that may help to reduce the risk of heart attack, is aiming to raise approximately ?4 million via the reverse takeover of Nutrinnovator, a health food company producing cereal bars.

Nutrinnovator, whose shares are suspended during the bid process, is to apply for re-admission to AIM on 23 June when the company is to change its name to reflect the Provexis acquisition. Stephen Franklin, CEO of Provexis, is expected to become chief executive of the renamed group.

Provexis, founded six years ago, develops scientifically-proven, proprietary, functional foods and has the rights to a tomato extract called CardioFlow, whose properties help thin the blood and so reduce the risk of thrombosis in a similar way to aspirin. The company plans to launch a fruit juice containing CardioFlow with two major UK retailers towards the end of this year.

Nutrinnovator was founded by a team of former GlaxoSmithKline nutritional division executives three years ago and has focused on cereal bar production. Together the companies will be capable of making a bigger impact in the nutraceutical market.

The Pinsent Masons team acting for Provexis is being led by London Corporate Finance Partner, Jon Harris, with Sadhbh Kavanagh and Manmohan Panesar (corporate) and Jane Jevon (share schemes).

Arbuthnot Securities Limited, the NOMAD and broker, is being advised by Norton Rose.

Nutrinnovator is being advised by Charles Russell.

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications.

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

In the past year Pinsent Masons has acted for the company on 15 AIM flotations and for the broker on a further four admissions. So far in 2005, the firm has advised Voller Energy, Neutrahealth, Sarantel Group, Copper Resources Corporation and InterQuest Group on their respective AIM admissions, in addition to advising the broker on a further two floats. The firm acts for over 40 AIM quoted companies.

Read more…

CRAEGMOOR HEALTHCARE ADVISED ON KEY ACQUISITION BY PINSENT MASONS

June 2005. Press Releases by Pinsent Masons (view listing).

Corporate healthcare specialists at UK law firm, Pinsent Masons, have advised the leading independent provider, Craegmoor Healthcare Company Limited on its acquisition of Sapphire Care Services Limited.

The Yorkshire based business which comprises five learning disability residential homes, a day centre and an outreach service providing care and support to adults with challenging behaviours, will be integrated into Craegmoor's Northern division.

?The acquisition of Sapphire Care Services will significantly strengthen our capability as one of the leading providers of care and support for adults with learning difficulties and in particular those who demonstrate challenging behaviours. The five homes and the day care centre and outreach service are recognised as offering high quality support and care in line with the principles of the valuing people guidelines,? commented Operations Director, Margaret Hill.

The deal is the latest in a series of acquisitions for Craegmoor upon which Pinsent Masons' Corporate Healthcare specialist partner, Joanne Ellis, and her team have advised, including the acquisitions of Autism TASCC Services Limited, an independent provider of autism specific services with a ten-bed residential home, Collinson Court, in Trentham, Stoke-on-Trent, and Hometrack Limited which operates Bridgeway, a 27-bed residential and nursing home for young adults with physical disabilities in Ribbleton, near Preston.

The Pinsent Masons team advising on the Sapphire Care Services acquisition comprised Joanne Ellis, Ann McCarthy and Jonathan Snade (corporate); Martin Bishop (banking); Maxwell Creighton and Veronica McMahon (tax); Tom Eastwood (property); Gavin Paul (pensions); Elizabeth Slater (commercial); Charles Rae (employment) and Victoria Austin (planning & environmental).

Sapphire Care Services were advised by HSR Law in Doncaster.

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

Note to Editors:

Craegmoor Healthcare is the leading independent provider of specialist care in the UK, for over 5000 adults and children, across nearly 300 homes and independent hospitals.

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

The firm is strongly sector focused and has a leading practice in corporate and public sector healthcare.

Read more…

REED SMITH LLP HIRES YET ANOTHER PARTNER

June 2005. Press Releases by Reed Smith Richards Butler LLP (view listing).

International law firm, Reed Smith LLP is pleased to announce that Rajita Sharma will join the firm as a Partner, on Monday 6th June 2005, to spearhead the growth of the Intellectual Property group. Rajita?s appointment boosts the number of UK Partners to 38.

Rajita, a leading IP specialist, joins the firm from American firm, Wildman Harrold where she was head of the European Intellectual Property team. Rajita?s practice covers multi-jurisdictional contentious and non-contentious intellectual property law and IT law with equal emphasis on patents, trade marks and copyright.

Reed Smith in the US has almost 100 lawyers practicing Intellectual Property for a wide range of clients across a variety of sectors, including, pharmaceuticals, telecommunications, media and entertainment, healthcare and technology.

Tim Foster, UK Managing Partner, Reed Smith LLP commented:

?We are delighted to welcome another high-calibre recruit to Reed Smith. Rajita?s strong international links and reputation in the world of intellectual property are complimentary to the strong IP practice that has been established in the US. It is yet another indication of the success of the transatlantic integration in line with the firm?s core areas of expertise.?

Rajita Sharma added:

?Reed Smith?s strengthening international links and commitment to providing a quality service to clients are very appealing. I very much look forward to joining the firm.?

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OFT LAUNCHES STUDY ON PROCUREMENT PRACTICES AND COMPETITION IN WASTE SECTOR

June 2005. Press Releases by Pinsent Masons (view listing).

Procurement practices and competition within the municipal waste industry are set to be scrutinised following the announcement of a major review of public sector procurement policies and practices by the Office of Fair Trading (OFT).

The OFT has joined forces with the Office of Government Commerce (OGC) and Defra to undertake a ten-month study aimed at exploring ways of improving the buying power of public sector procurers of municipal waste management services, discouraging anti-competitive arrangements and removing barriers to entry for smaller suppliers. This could have a long-term impact on companies active in the sector.

The review will pay particular attention to the anti-competitive effects of very long term contracts, integrated waste management contracts and the use of supplier accreditation lists by public sector procurers on small to medium-sized enterprises.

The OGC has been studying how to increase competition and improve long-term capacity planning in the government market place for the past few years and, in its Annual Plan for 2005/6, the OFT has recently identified the interaction between government and markets as one of its key priorities for the next year.

The OFT expects the study to be completed by March 2006. It may at that stage issue guidelines to public sector procurers on how to make the most of competition when procuring waste management services.

Pinsent Masons has one of the largest specialist competition law groups in the UK with considerable expertise and experience of advising clients on UK competition law and public procurement.

Alan Davis, a Competition Partner with law firm Pinsent Masons, said:

'Both the OFT and OGC have been looking at ways of increasing competition and capacity planning within the municipal waste sector for some time. This latest study and the eventual OFT guidelines may well have a long term impact on the way in which waste management services are procured in the future. However, it is essentially prospective, and is unlikely to have any immediate impact on existing contractual arrangements. If the OFT wished to investigate current arrangements, it would have to use its powers under the Competition Act 1998 or under the market investigations regime of the Enterprise Act 2002.'

ENDS

For media enquiries call :

Lakhbir Rakar

CM PR Advisor

Pinsent Masons

Tel : 0121 260 4005

Email : lakhbir.rakar@pinsentmasons.com

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PINSENT MASONS ADVISES ON FIRST DUTCH OFF SHORE WIND FARM

June 2005. Press Releases by Pinsent Masons (view listing).

Shell and Dutch energy company Nuon have signed the final contracts for their joint realization of the first Dutch offshore wind farm, located at Egmond aan Zee, 10 miles outside the Dutch coast. The wind farm will be constructed in 2006. NoordzeeWind (a 50/50 joint venture between Shell and Nuon) awarded the construction contract to Bouwcombinatie Egmond, a joint venture between Dutch offshore contractor Ballast Nedam and Danish wind-turbine manufacturer Vestas.

Thirty-six wind turbines with an overall capacity of 108 Megawatts will be constructed 10 kilometres off the coast of Egmond aan Zee (the Netherlands). On a yearly basis, the wind turbines will generate enough electricity to meet the needs of more than 100,000 Dutch households. From the end of 2006, the wind farm will start generating sustainable energy, which Nuon will supply to the Dutch market. The project involves an investment in excess of ? 200 million.

The project is accompanied by a comprehensive research programme designed to increase knowledge about offshore wind energy. This will study the effects on both nature and the environment, as well as the technical aspects, such as turbine behaviour and integration into the electricity grid. This will help to increase expertise for the construction of larger wind farms further out to sea.

The Dutch government is supporting the project financially under the Electricity Production (Environmental Quality) Act (MEP) along with a subsidy under the Ministry of Economic Affairs' CO2 Reduction Plan. Finally, the Energy Investment Incentive facility (EIA) (a tax allowance) also applies.

The initial construction work is planned at the end of 2005 with the installation of power cables between the grid connection point at Velsen and the wind farm's own transformer substation located on a site near the shore owned by Corus. The foundation piles of the wind turbines will be driven into the seabed during the spring of 2006, after which the wind turbines will be installed. Specialised ships will be used for this work.

Preparations for this programme spanned several years. After the Dutch government selected NoordzeeWind as a partner in July 2002, intervening years have seen geological surveys, wind measurements and the compilation of an environmental effects report. Several projects were also developed to provide greater support for nature conservation.

Pinsent Masons advised Shell and Nuon in relation to the contracts with Bouwcombinatie Egmond.

ENDS

For media enquiries contact :

Lakhbir Rakar

CM PR Advisor

Pinsent Masons

Tel : 0121 260 4005

Mobile : 07748 321943

Notes to editors :

Pinsent Masons have advised in relation to more than 30 wind farms in the UK and overseas, including the UK's first off shore wind farm at North Hoyle in 2002.

The International Construction & Energy Department's Procurement Group undertakes all aspects of procurement in the renewables sector including planning, environmental, construction and grid connections, power purchase arrangements and financing.

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D1 OILS PLC ADVISED BY PINSENT MASONS ON GROWTH-FUELLED FUNDRAISING

June 2005. Press Releases by Pinsent Masons (view listing).

Biodiesel producer, D1 Oils plc, is positioning itself to take full advantage of opportunities in the rapidly growing renewable fuel sector by expanding its operations in new and existing territories.

Advised by lawyers at UK law firm, Pinsent Masons, the AIM-quoted company is raising ?25.8 million (gross of expenses) by a share placing and will use the funds to advance its growth plans.

The UK-based global low cost biodiesel producer is seeing growing demand for sustainable renewable fuel, with China and India opening up as two of the largest markets.

D1 Oils, which aims to become the leading producer of biodiesel and related feedstocks, is placing 9,732,617 new ordinary shares at a price of 265p per share, raising ?25.8 million (gross) and ?24.3 million net of expenses. The shares are expected to be admitted to AIM on 14 June.

The company announced the placing yesterday (Tues) as it issued its year end results. Chairman, Karl Watkin, commented: 'D1 Oils is making excellent progress and has accelerated key components of its business plan. D1 Oils has further increased its opportunities worldwide as the market is getting stronger. The placing will help D1 Oils to secure a leadership position through enabling the company to pursue a more aggressive expansion policy and is a key step towards our objective of becoming a leading sustainable global low cost producer of biodiesel.'

The Pinsent Masons London Corporate team acting for D1 Oils on the placing is being led by National Head of Corporate, Gareth Edwards, with Justine Howard, Hanh Jelf, William Bankes, Ros Cook and Anthony Rance. Pinsent Masons also acted for the company on its admission to AIM last October.

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications,

Pinsent Masons, on: 0845 300 32 32 mob: 07884 110173

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

In the past year Pinsent Masons has acted for the company on 15 AIM flotations and for the broker on a further four admissions. So far in 2005, the firm has advised Voller Energy, Neutrahealth, Sarantel Group Copper Resources Corporation and InterQuest Group on their respective AIM admissions, in addition to advising the broker on a further two floats. The firm acts for over 40 AIM quoted companies.

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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

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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

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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

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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…

INTERQUEST ADVISED BY PINSENT MASONS ON AIM ADMISSION

May 2005. Press Releases by Pinsent Masons (view listing).

Fast-growing IT recruitment business InterQuest Group is being advised by a specialist team at UK law firm Pinsent Masons, on its admission to AIM, with a market cap of ?13.9 million.

Launched nearly four years ago, InterQuest has grown by acquisition now operating four divisions each of which specialises in placing contract and permanent IT staff in different market sectors, ranging from and including financial institutions, central and local government, and the retail and fast moving consumer goods sectors.

The company hopes to raise ?3 million from a placing of 5,454,550 ordinary shares of 1p each at 55p per share as part of its flotation and to use these funds to advance its organic and acquisitive growth plans in the UK IT recruitment market which is estimated to be worth ?5 billion. The market consists of some 1,200 businesses, ranging from small owner-managed IT specialist companies to large multinational recruitment firms. The IT market consists of approximately 800,000 IT professionals, of which an estimated 80,000 are contractors.

The InterQuest flotation is the sixth AIM admission this year for Pinsent Masons, ranked equal first as AIM company advisers by company information specialists, Hemscott Group. The London team advising InterQuest is being led by national head of corporate, Gareth Edwards, with Justine Howard and Hanh Jelf.

Nominated adviser and broker to the float, Panmure Gordon, is being advised by Hammonds.

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

In the past year Pinsent Masons has acted for the company on 15 AIM flotations and for the broker on a further four admissions. So far in 2005, the firm has advised Voller Energy, Neutrahealth, Sarantel Group and Copper Resources Corporation on their respective AIM admissions, in addition to advising the broker on a further two floats. The firm acts for over 40 AIM quoted companies.

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SUPER SIX JOIN PINSENT MASONS IN LONDON TO MEET GROWING DEMAND FOR CONSTRUCTION

May 2005. Press Releases by Pinsent Masons (view listing).

Pinsent Masons has expanded its construction practice with the arrival of six fee-earners to its London operation.

The move is in response to growing client demand following the merger between Pinsents and Masons back in December 2004.

Solicitor Brad Fearn from Hammonds and Sarah Sharpe from the construction team at Kennedys will be joining fellow solicitor Paul O'Neil who recently joined the firm from Fox Williams.

The team will also be joined by 7 year qualified solicitor John Mullee and Senior Associate Greg Richards who have re-located from the firm's Hong Kong and Manchester offices respectively along with Helen Waddell, a Senior Associate who has recently returned from maternity leave.

With a global network of more than 150 lawyers Pinsent Masons has one of the largest and most experienced construction legal teams in the world.

Richard Laudy, London Head of Construction at Pinsent Masons, said :

'A strong interest from both existing and new clients encouraged us to expand the team quickly. We are delighted to announce these new appointments. Their credentials make them an excellent match for the existing strengths in the group as we seek to absorb the increasing workload from clients of our new firm. With a further six fee-earners added to an already significant London presence our ability to provide a full service to our construction sector clients across Europe is now unrivalled.'

ENDS

For media enquiries contact :

Lakhbir Rakar

Tel : 0121 260 4005

Mob : 07748 321943

lakhbir.rakar@pinsentmasons.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…

Pinsent Masons' London Private Equity Team Advises On Major Deals Double

May 2005. Press Releases by Pinsent Masons (view listing).

The London private equity team of law firm Pinsent Masons is celebrating the back-to-back completion of two multi-million pound deals advising the management teams of leading edge companies operating in sectors ranging from wealth to waste management.

Partner Andrew Masraf has led the teams acting for management in the ?200 million buyout of recycling and waste management company Cory Environmental from global supply chain management leader, Exel PLC, and the management of leading asset management company Tilney Holdings Limited, which has ?5 billion of funds under management, in its buyout from US investor group, Refco.

'These are top class businesses led by driven, talented people and it's been exciting to work with them at this important stage in their development,' said Andrew Masraf.

The deals have been backed by specialist private equity houses with Montagu Private Equity investing in the Cory Environmental buyout and Bridgepoint Capital backing Tilney Holdings.

Cory operates from 30 UK locations providing expert services in the collection, recycling and disposal of waste and represents a strategic disposal for Exel PLC, which is now concentrating on its core supply chain management activities. Pinsent Masons was introduced to the Cory management by Pinsent Masons' Projects Partner, Patrick Twist.

Tilney Holdings, led by CEO David Campbell, a former professional footballer who played for Charlton, is the UK's 4th largest independent provider of services to high net worth private clients. Tilney has been a part of US group Refco since 1998. The company has a strong network of regional offices throughout the UK. Pinsent Masons was introduced to the Tilney management team by James Lever of Livingstone Guarantee.

The Pinsent Masons team acting for Cory Environmental management comprised Andrew Masraf, Charles Frank, Mark Cawthron and Wyn Lewis. The team advising management of Tilney Holdings Limited comprised Andrew Masraf, Joanne McNeill, Rebecca Power and Wyn Lewis.

The completion of the two deals comes hard on the heels of a separate London private equity team, led by partner Jonathan Reardon, advising management, led by former Channel Five chief executive David Elstein, on the US$242 million acquisition of the Hallmark Channel.

Ends

For further information, please contact:

Clare Turnbull, Head of PR & Communications,

Pinsent Masons, on: 0845 300 32 32 or mob: 07882 110173

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

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MIDLANDS CO-OP ADVISED ON ?20 MILLION DAIRY DISPOSAL BY PINSENT MASONS

May 2005. Press Releases by Pinsent Masons (view listing).

A corporate team at UK law firm, Pinsent Masons, has completed its first deal for the Midlands Co-operative Society Limited with the sale of its dairy business to Dairy Crest Limited for ?20 million.

Midlands Co-op Dairies, the largest regional dairy operator in the UK, processes about 200 million litres of milk a year at its Birmingham dairy and distributes fresh milk via 16 distribution centres to customers throughout the Midlands.

As a result of the acquisition by Dairy Crest the Society's Birmingham dairy processing plant is expected to close and transfer its milk processing to Dairy Crest's own dairies. Three of the Society's depots at Oxford, Farringdon and Thame, which overlap with those of Dairy Crest, are also likely to close.

The Pinsent Masons team acting for Midlands Co-operative Society has been led by Corporate Partner, Linda Crow, assisted by Karen Beatty and Rob Sloan (Corporate); Sarah Murray (Commercial), Pippa Kempson and Carl Scott (Property).

Dairy Crest has been advised by Eversheds (London).

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 mob: 07884 110173.

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PINSENT MASONS ADVISES ON NEC AND CLARION EVENTS JOINT VENTURE

May 2005. Press Releases by Pinsent Masons (view listing).

A legal team from Pinsent Masons has advised one of Europe's premier exhibition venues, the National Exhibition Centre (NEC), on a business venture designed particularly to take advantage of opportunities in the consumer show sector.

The NEC Group has entered into a joint venture with Clarion Events Limited (CEL) to create Clarion Events NEC Limited (CENL), a company created to maximise opportunities to stage and acquire new shows.

As part of the deal, NEC has sold its owned events business to the joint venture company including a portfolio of nine shows, among them Antiques for Everyone and The Classic Motor Show.

CEL, the former in-house organiser of Earls Court and Olympia Group, which was subject to an MBO last year, is seen as the creative powerhouse capable of leveraging the formidable NEC brand.

The Pinsent Masons team advising the NEC Group comprised corporate partners, Paul Finlan and Linda Crow.

Clarion Events Limited has been advised by Fox Williams.

The deal comes as Birmingham City Council is raising finance for the NEC, the busiest exhibition centre in Europe, staging more than 180 exhibitions each year, to enable it to move into a phase of major redevelopment. In 30 years the business has grown from a pioneering undertaking to a business which now caters for up to four million visitors a year. With 21 halls totalling 200,000 square metres (two million square feet) it is also the biggest exhibition centre in Britain and seventh largest in Europe.

Pinsent Masons' Head of Banking & Finance, Stephen Miles, has advised NEC Finance plc on the ?200 million plus bond issue by Birmingham City Council the proceeds of which will help to fund the planned work.

Ends

For further information, please contact:

Clare Turnbull, National Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 or mob: 07884 110173

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World first for Guernsey litigation team in successful application to place PCC in administration

May 2005. Press Releases by Carey Olsen (view listing).

13 May 2005

Carey Olsen was at the heart of a team of UK and Guernsey lawyers in a successful landmark application to the Royal Court of Guernsey on 11 May 2005 placing a Protected Cell Company (PCC) into administration and to have partners from Ernst & Young LLP in London and Guernsey appointed as administrators.

The application for administration, originally brought by the directors of Messenger Insurance PCC Limited, nominated the administrators of Messenger?s UK-based parent company InsCom Group Limited which, along with some of its directors, is the subject of current High Court proceedings in London alleging breaches of fiduciary duty, misappropriation and fraud. The proposed nomination was strongly opposed by a number of corporate creditors of the PCC who believed the appointment would lead to conflicts of interest between the competing administrators, shareholders and directors of the two companies.

Two teams from Carey Olsen, separated by Chinese-walls, spearheaded the Guernsey legal teams acting for Messenger?s creditors. John Greenfield, partner and Head of Commercial Litigation, along with senior lawyer Tim Corfield, a UK qualified Solicitor-Advocate, acted for Zurich Insurance Company, Switzerland, whilst partner Mark Dunster and Advocate Karen Le Cras acted for QBE International Insurance Limited. John Greenfield described it as the first case in the world involving an application to place a PCC into administration.

Advocate Greenfield lead the advocacy for the successful combined creditors? teams, including lawyers from Clifford Chance LLP, Baker & McKenzie, Freshfields Bruckhaus Deringer, Barlow Lyde & Gilbert and Kendall Freeman. In preparing for the application, the lawyers from Carey Olsen were instrumental in preparing submissions based on the locus standi of creditors to be heard before the Guernsey Court in such an application, the weight to be attached to creditors? submissions in comparison to those of the board of directors and shareholders of the PCC and in alleging conflicts of interest on the part of the proposed nominees.

John Greenfield added:

?This was a significant judgment and illustrates the strength and depth of expertise that this firm has in managing complex commercial cases, especially multi-party disputes such as this, in which a number of the major London law practices were also represented?.

Ends

For more information please contact John Greenfield, Mark Dunster, Karen Le Cras or Tim Corfield, Carey Olsen, P.O. Box 98, 7 New Street, St Peter Port, Guernsey. Telephone: 01481 727272

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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

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PINSENT MASONS ADVISES IP2IPO GROUP ON LAUNCH OF LIFEUK AND FURTHER FUNDRAISING

May 2005. Press Releases by Pinsent Masons (view listing).

UK law firm, Pinsent Masons is acting for IP2IPO Group plc on a placing to fund the launch a new life science intellectual property business designed to help researchers unlock the capital potential of their work.

The proceeds from the placing of 2,157,837 ordinary shares of 10p each at ?6.37 per share, which is expected to raise approximately ?13.75m before expenses, will be used to launch a new business within IP2IPO - LifeUK.

LifeUK will in-license life science intellectual property created by medical researchers at universities with which IP2IPO already has partnerships, other universities in the UK and similar academic and charitable research institutions. LifeUK aims to develop further the intellectual property which it in-licenses with a view to creating substantial value either by subsequently licensing these development programmes to the pharmaceutical industry or by creating new ventures.

The Placing Shares have been placed by Lehman Brothers International (Europe), as sole bookrunner, and KBC Peel Hunt Ltd, as joint lead manager, and have been placed conditional on admission to trading on AIM. Dealings are expected to commence on 16 May 2005.

The Pinsent Masons team was led by London Corporate Partner Russell Booker.

David Norwood, Chief Executive Officer commented, 'The launch of LifeUK represents a significant strategic move for IP2IPO and considerably strengthens and diversifies our business. In the academic arena, UK academics produce ground-breaking medical research, while within industry, pharmaceutical companies are increasingly looking for new sources of drug candidates to augment their pipelines. LifeUK has been created to provide a channel from the lab bench to industry which builds on the success that IP2IPO has already experienced creating spin out companies under its long term university partnerships.'

Ends

For further information, please contact:

Clare Turnbull, Head of PR & Communications

Pinsent Masons, on: 0845 300 32 32 or mobile: 07884 110173.

Note to Editors:

Pinsent Masons is a full service commercial firm with more than 260 partners, a total legal team of more than 900 and in excess of 1,500 staff in the UK and internationally. The firm ranks in the UK top 15 of law firms and is one of Europe's leaders. In the UK, the firm has offices in London, Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

IP2IPO is an intellectual property (IP) company that specialises in commercialising university technology. The company was founded in 2001 and listed on AIM in October 2003. It has forged a number of long-term commercial partnerships with universities in the UK.

To date, four spin-out companies from the IP2IPO portfolio have listed on the AIM: Offshore Hydrocarbon Mapping plc, Synairgen plc, VASTox plc and Proximagen Neuroscience plc. For further information visit - www.ip2ipo.com

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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

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