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A&O group hire as DLA Piper lures former Freshfields finance chief

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Allen & Overy  has launched a West Coast US practice, acquiring Akin Gump Strauss Hauer & Feld’s project finance and renewables team in the US.

As a result, the team co-led by partners Dan Sinaiko and John Marciano will establish a new presence in Los Angeles for A&O. The team also comprises partners Greg Lavigne, Matthew Nesburn, Andrea Wang Lucan and Sam Kamyans, as well as ‘a large group of associates and counsel.’

In a bold statement of intent, Kent Rowey, a partner in the firm’s energy and infrastructure practice, said: ‘With this acquisition, A&O cements its status as the leading US and global renewables practice with the right expertise to help clients pursue the global energy transition’, while the newly-ensconced Marciano described the move as ‘the most significant law firm combination in the US renewables legal sector.’

The opening can be seen as an effort to make up for A&O’s high-profile failure to secure a transatlantic merger with West Coast royalty O’Melveny & Myers in 2019 .

Elsewhere, DLA Piper has identified a respected successor to Martin Bartlam for its head of international finance, projects and restructuring role, hiring seasoned Freshfields partner David Trott. Trott has been a partner at the Magic Circle outfit since 1997 and led its global finance team between 2012 and 2016, predominantly covering real estate finance, acquisition finance and corporate treasury matters.

Bartlam will work alongside Trott ‘to ensure a smooth leadership transition’, according to DLA. Olaf Schmidt, managing director of practice groups, said: ‘As the firm evolves, David’s fresh perspectives, exceptional leadership experience and deep market knowledge perfectly complement our strategy for the finance, projects and restructuring group.’

Meanwhile, Quinn Emanuel Urquhart & Sullivan has appointed former Boies Schiller Flexner and Herbert Smith Freehills disputes partner Dominic Roughton. The experienced Roughton has a dual practice focusing on both international litigation and arbitration, particularly in the energy and mining sectors.

Quinn founder John Quinn commented: ‘His hire adds considerable weight to our fast-expanding London office which is in significant growth mode after a stunning 2020.’ The firm unveiled a striking 27% uptick in London turnover earlier this year.

Taylor Wessing has been in expansive form in the past week, hiring a real estate team from Greenberg Traurig as well as a trio of partners from Stephenson Harwood in London.

The real estate team is led by partner Michael Goldberg, who specialises in corporate finance, M&A, and capital markets work in the sector. He joins alongside a team of three associates.

The firm has also enhanced its life sciences and healthcare practice with the appointment of partners Andrew Edge, Karima Hudson and Andrew McLean from Stephenson Harwood. All three are corporate specialists, with Edge and Hudson possessing significant M&A experience in the life sciences and healthcare sectors.

Simpson Thacher & Bartlett has maintained its uncharacteristically lively start to 2021  with the hire of Geoffrey Bailhache, former managing director and general counsel of private equity firm Blackstone’s EMEA business, as a partner in London.

Prior to his in-house role, Bailhache spent several years in private practice at both Weil, Gotshal & Manges and SJ Berwin, advising on a range of private equity and corporate matters. Bailhache said: ‘Having worked alongside Simpson Thacher’s lawyers on transactions for many years, I am excited to join this talented group for the next chapter of my career.’

This week Simpson Thacher also hired former Kirkland & Ellis private funds partner James Board in its London office. Described as a ‘rising star in the private funds industry’ by Simpson Thacher’s head of private funds, Michael Wolitzer, Board primarily advises clients on the creation and operation of credit funds.

Latham & Watkins has made a significant restructuring hire in London through the appointment of Bruce Bell, previously a partner for over 20 years at Linklaters. Bell primarily advises companies, sponsors and financial institutions on complex financing, restructuring, and insolvency matters.

Stephen Kensell, managing partner of Latham’s London office, said: ‘Bruce is an exceptional practitioner with a stellar market reputation, and his expertise and product knowledge make him an excellent strategic fit for Latham’s practice in both London and globally.’

After floating in 2019 , asset management consultancy and alternative business structure MJ Hudson has landed a key hire in the form of ex-Skadden partner Stephen Sims. Sims joins MJ Hudson’s legal offering to be a partner in its funds practice.

Described as a ‘leading light’ by Andrew Mills, co-managing partner of MJ Hudson’s legal arm, he added that the ability to attract Sims to the firm ‘is testament to the unique environment at MJ Hudson.’

In Europe, Dentons has reinforced its banking and finance team in Warsaw by hiring Mark Segall as a partner from CMS, where he was head of the central and eastern Europe banking practice. Segall has more than 20 years’ experience in advising on a range of financial products including acquisition and leveraged finance, structured commodity finance and project finance.

Meanwhile K&L Gates has boosted its energy, infrastructure and resources practice by hiring former Squire Patton Boggs partner Ben Holland in its London office. Holland is an energy disputes partner with experience of international arbitration.

Holland said his arrival ‘connects me and my clients with first-class lawyers across the key energy and resources jurisdictions, at a time when many global energy markets are in a state of unbalance and change, and where global lawyer teams are needed to help them move forwards.’

Finally, Clyde & Co has made a significant insurance hire in Australia with the appointment of Jacques Jacobs as a partner in its Sydney office. Jacobs, who joins from Norton Rose Fulbright, specialises in assisting both domestic and international insurers on complex disputes and overage issues.

 

A&O launches in LA

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Allen & Overy (A&O) has opened a new office in Los Angeles, having recruited 19 lawyers from US titan Akin Gump.

The magic circle player, which already boasts 44 offices across 29 countries, says its latest recruits will focus on renewable energy work and operate out of the new West Coast hub, as well as its offices in New York and Washington DC.

The new LA office comes after long-running merger talks between A&O and LA-headquartered O’Melveny & Myers ended in September 2019 without a deal being reached. At the time, A&O said there were some “compelling synergies” between the duo but they had “mutually decided not to continue these discussions”.

“California has obvious attractions in connection with renewables, but the opportunity is far wider,” US managing partner Tim House commented. “The last year has reinforced our commitment to attracting talent in the key practices we are looking to build to serve our clients without a rigid attachment to location or physical offices.”

He added: “California has a deep pool of talent and demand from existing and future clients. This is a great development for the firm in the United States and globally.”

Last summer, fellow magic circle player Freshfields launched an office in Silicon Valley, California, following a hiring spree from outfits including Davis Polk, Sidley Austin and Latham & Watkins.

Jones Day promotes 50 partners as it shrugs off impact of Covid-19

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Jones Day has shrugged off the impact of Covid-19 in this year’s partner promotions round making up 50 lawyers across its network, up from 34 last year.

There are six promotions in the Asia Pacific region and six in Europe, with the remainder across its substantial national network of US offices.

The promotions were spread relatively widely across the network – partners were made up in 22 of the firm’s 41 bases with Washington DC accounting for the largest tally (six), followed by New York and the top 10 US firm’s Cleveland headquarters, which will both usher in five new partners on 1 January.

There is also a near even gender split – 24 of the new partners are women representing 48% of the cohort. Last year the split was exactly 50-50.

Notable among the appointments is that of firmwide head of pro bono Laura Tuell, who is based in Washington DC. The former trial lawyer oversees the firm’s global pro bono programme as well as having an active practice, particularly representing women asylum seekers seeking protection against gender prosecution.

Research published earlier this year found that more than 55 law firms globally employed 66 dedicated pro bono partners in 2019, compared with just six in 1999.

Among the more unusual locations welcoming new partners is the firm’s 32-strong Taipei office, where Jean Kuo is being made up. She has a broad practice that includes M&A, IP and antitrust with a focus on advising Japanese clients on their investments.

There are four promotions in Australia, up from two last year. In Sydney competition specialist Prudence Smith and M&A adviser Hemang Shah have been recognised while disputes specialists Pip Goldman and Daniel Moloney are joining the partnership from their bases in Brisbane and Melbourne respectively.

The Asia Pacific tally is completed by Shanghai-based IP litigator Guoping Da, who represents multinational companies in IP enforcement and infringement actions in the United States and China. She studied at Peking University before gaining a PHD in biochemistry in the US and then qualifying as a lawyer.

Meanwhile, in Europe, there were two promotions apiece in London (John Crowley, real estate, Laura Pembridge, private equity), Paris (Edouard Fortunet, private equity, Nicolas André, tax) and Brussels (Eva Monard, regulation, Jonas Van den Bossche, M&A).

In terms of practice areas the business and tort litigation team enjoyed the most promotions (nine) followed by M&A (seven) and IP (five).

In March, Jones Day was named the strongest law firm brand in the US for a fourth year in the Acritas 2020 US Law Firm Brand Index. However, last month it was forced to clarify its role as an adviser to Donald Trump by rebutting media claims it was involved in any litigation involving alleged voter fraud.

Earlier this week a group of six former associates withdrew a class and discrimination claim against the firm although they are still pursuing individual claims which the firm has dubbed ‘equally meritless’, according to Reuters Legal.

Other top US firms already to have announced their promotions include Latham & Watkins, which unveiled 33 new partners, the same as last year, and Kirkland & Ellis, which made up a record 145 partners.

Latham & Watkins advises Grail in Acquistion by Illumina 

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Illumina, Inc. (NASDAQ: ILMN) and GRAIL, a healthcare company whose mission is focused on multi-cancer early detection, announced that they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion upon closing of the transaction. In addition, GRAIL stockholders will receive future payments representing a tiered single digit percentage of certain GRAIL-related revenues. The agreement has been approved by the Boards of Directors of Illumina and GRAIL.

Latham & Watkins LLP represents GRAIL in the transaction with an M&A deal team led by Los Angeles partner Alex Voxman and associate Andrew Clark, with assistance from Century City partner David Zaheer, Los Angeles counsel Brian Duff, and associates Jason Kass, Eduard Grigoryan, Timothy Day, Tess Bloom, Natalie Robertson, and Briana Cornelius. Advice was also provided on capital markets matters by San Diego partner Cheston Larson, Bay Area partner Brian Cuneo, and San Diego counsel Christopher Geissinger; on tax matters by New York partner Lisa Watts, with associate Eric Kamerman; on employee benefits and compensation matters by Los Angeles partner Larry Seymour and Bay Area partner Julie Crisp, with associate Jordan David; on antitrust matters by Washington, D.C. partner Michael Egge and Washington, D.C. counsel Patrick English, with associate Barrett Tenbarge; on intellectual property matters by Bay Area partner Christopher Hazuka, with associate Robert Yeh; and on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards.

Latham & Watkins Hires Paris Restructuring Partner From Willkie

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Latham & Watkins has hired a restructuring partner away from Willkie Farr & Gallagher in Paris, the latest in a series of high-level moves by firms based in the French capital to bolster their teams in anticipation of increased work in the area.

Alexandra Bigot joins as a partner in the restructuring and special situations practice, Latham & Watkins said in a statement. Prior to practicing at Willkie as a partner for 16 years, she spent four years at Lazard Frères as an investment director, managing the firm’s portfolio of distressed companies.

“We are delighted to welcome a partner of Alexandra’s experience and market standing to the firm,” Olivia Rauch-Ravisé, managing partner of Latham & Watkins in Paris, said in a statement. “Alexandra has a terrific track record advising on complex domestic and cross-border restructuring transactions, and she will play a key role in the continued expansion of this strategically important growth practice in Paris.”

Bigot is the latest partner to join Latham’s restructuring and special situations practice this year, following the arrival of Jessica Walker in London and Suzzanne Uhland in New York, the firm  said in a statement.

Law firms in Paris have been on a restructuring hiring spree this year in anticipation of new business related to the COVID-19 crisis. In April alone, Paul Hastings hired an eight-lawyer team from the French boutique firm Bremond to create a restructuring department in Paris, and Baker McKenzie added a restructuring partner, also from Bremond.

Milbank, Latham, Skadden Advise on $8.6B Casino Mega-Merger

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Eldorado Resorts and Caesars Entertainment Corp. are betting big that a merger between the two gaming giants will lead to a heater for shareholders. The new combined entity will retain the “Caesars” name and operate 60 gaming facilities across 16 U.S. states.

In a deal announced Monday morning, Eldorado will take control of all of Caesars’ outstanding shares at $12.75 per share, with a total purchase price of $8.58 billion in cash and stock and a total consideration of $17.3 billion, including debt. Eldorado shareholders will maintain 51% of the company’s outstanding shares, while Caesar’s investors will hold the remaining 49%.

Milbank, Tweed, Hadley & McCloy and Latham & Watkins are representing Eldorado on the deal. Milbank has represented both companies in the past, including handling an $18 billion debt restructuring for a Caesars subsidiary and advising Eldorado on a 2018 deal with William Hill PLC to act as the company’s exclusive sports betting operator.

Skadden, Arps, Slate, Meagher & Flom is advising Caesars in the Eldorado acquisition. The firm has a long history with Caesars, including when the gaming company sold four casino properties for $2.2 billion in 2014, as well as on its sale to Harrah’s for $9.4 billion in 2004.

Caesars, which emerged from bankruptcy in 2017, operates 34 properties in nine states and has $8.79 billion in long-term debt as of March 31. Eldorado, on the other hand, has a market value of about $4 billion and long-term debt of $3.06 billion as of the end of the first quarter. It operates 26 properties in 12 U.S. states.

Caesars has been a financial boon for several major law firms over the years. Its 2015 Chapter 11, from which the company emerged in 2017, helped generate fees of over $70 million for Kirkland & Ellis, $29 million for Proskauer Rose and $25 million for Jones Day.

Tom Reeg, CEO of Eldorado, said in a statement that “Eldorado’s combination with Caesars will create the largest owner and operator of U.S. gaming assets and is a strategically, financially and operationally compelling opportunity that brings immediate and long-term value to stakeholders of both companies.”

The deal team for Milbank was led by corporate M&A partner Deborah Conrad, tax partners Russell Kestenbaum and Max Goodman and executive compensation and employee benefits partner Mike Shah.

Latham fielded a team led by San Diego-based Sony Ben-Moshe. Moshe is a co-chair of the firm’s gaming and hospitality practice.

The Skadden team was led by M&A partners Andrew Garelick, Brian McCarthy and Richard Grossman, banking partner K. Kristine Dunn, capital markets partner Michelle Gasaway antitrust/competition partner Kenneth Schwartz, tax partner Kenneth Betts, labor and employment law partner Karen Corman, executive compensation and benefits partner Joseph Yaffe, intellectual property and technology partner Bruce Goldner, litigation partner Edward Micheletti and real estate partner Meryl Chae.

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Lawyer Affinity Groups at Latham & Watkins

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Our lawyers are more than just lawyers. They’re also parents, runners, musicians, bakers, high-altitude climbers, and so much more, and we’re proud to support their multifaceted identities through our firmwide affinity groups.