Media Mentions
2008
Charles Shiramba was quoted in the April 2008 edition of the International Financial Law Review regarding a proposal by the European High Yield Association to reform UK insolvency law to make it more like Chapter 11 of the U.S. Bankruptcy Code to enable easier restructurings. "This is a laudable proposal. It's clear to all of us that we could be going into a recession. If we do, highly-geared structured companies will fall first."
Charles Shiramba, Banking and Finance - London, London, Restructuring & Insolvency
Kate Learoyd was quoted in the March 2008 edition of International Financial Law Review in relation to a wave of litigation after the UK government announced emergency legislation to nationalize Northern Rock and leave shareholders with nothing. Ms Learoyd said, "Shareholders might argue that this was illegal expropriation – it could be quite controversial."
Kate Learoyd, Litigation - London, London, Trial
Charles Shiramba was quoted in the March 20 edition of Legal Week in relation to the global turmoil in credit markets which led to the collapse of two hedge funds in Europe and the fire-sale of Wall Street giant Bear Stearns. Mr. Shiramba said, “Insolvency law in the UK is not geared up to dealing with hedge funds the size of Carlyle going bust. I think the law will struggle to cope."
Charles Shiramba, Banking and Finance - London, London, Restructuring & Insolvency
Andrew Watson was quoted in the March 13 edition of Legal Week in relation to a Greek infrastructure project that McDermott Will & Emery advised on. Mr Watson said, "The Greeks have been shown where our PPPs went wrong, ironed any issues out and have really taken to the model. So far it has worked well."
Andrew Watson, Banking and Finance - London, London
Kate Learoyd was quoted in the March 11 edition of International Financial Law Review in relation to the UK Government's expropriation of shares as it nationalized Northern Rock and how hedge funds and other institutional investors might react if banks respond with clearer divisions between their retail and wholesale operations. Ms Learoyd said, "Investment banks will want access to retail deposits but they will not want their shareholders exposed to the risk that control over the banks is lost in order to protect retail depositors. If you put structured finance lawyers in a room for long enough, they might find a way of achieving that!"
Kate Learoyd, Litigation - London, London, Trial
Kate Learoyd was quoted in the March 10 edition of Asset Securitization Report in relation to European investors showing signs of uneasiness regarding ABS-related losses, which has prompted UK law firms to consider bringing a number of European banks to court. Ms Learoyd said, "Major investment banks are usually reluctant to litigate against each other because of the numerous commercial relationships between them. Smaller banks and financial institutions are not as constrained."
Kate Learoyd, Litigation - London, London, Trial
Paul-Michael Rebus was quoted in the February 18 issue of Total Securitization regarding the decision by Standard Chartered to no longer provide liquidity support to its Whistlejacket structured investment vehicle. The SIV went into receivership after breaching its capital value trigger. "It seems probable that they will liquidate and start selling off the assets at fire-sale prices. Therefore, it seems fair to make the assumption that the investors are going to end up losing money, along with a lot of service providers down the line," said Mr. Rebus.
Paul-Michael Rebus, London, Structured Finance - London
Kate Learoyd was quoted in the February 1 issue of the International Law Firm Review on the UK Treasury Committee's plans to strip bank shareholders of their voting rights. The Committee wants to create a new banking authority that can nationalize shareholder votes if their bank is deemed to be heading for insolvency. Shareholder consent would not be necessary. Ms. Learoyd commented, "Shareholders might argue that this was illegal expropriation – it could be quite controversial." Commenting on banks responding with clearer divisions between their retail and wholesale operations, Ms. Learoyd said, "Investment banks will want access to retail deposits but they will not want their shareholders exposed to the risk that control over the bank is lost in order to protect retail depositors. If you put structured finance lawyers in a room for long enough, they might find a way of achieving that!"
Paul-Michael Rebus was quoted in the January 2008 issue of International Securitization Report in relation to the downturn in the ABS sector. However there is anecdotal evidence that the market is gearing for a comeback, with Mr. Rebus commenting on the success of the London team. Mr. Rebus said "We've been working on a number of different types of transactions including restructuring SIV's on behalf of capital noteholders, restructuring a number of European multiseller ABCP conduits and doing a number of synthetic based securitization structures."
Paul-Michael Rebus, London, Securitisation - London, Structured Finance - London
2007
In the December issue of Legal Business, Juliet Blanch and Kate Learoyd were quoted in an article examining the prospect of litigation against financial institutions given the recent liquidity crisis. "I think most firms would consider defending a client in relation to a claim brought against it by an investment bank," Ms. Blanch said. "But I can also see circumstances in which a firm may start to take work on if they have a very close relationship with a key financial institution and that institution is one the firm knows they're never going to get work from on the transactional side." Ms. Learoyd remarked, "We have already seen different approaches in restructuring projects, where the investment banks pursue a non-contentious co-operative plan only to find that the smaller institutions, such as hedge funds, aren't willing to play along nicely."
Juliet Blanch, Kate Learoyd, London, Trial
Juliet Blanch, head of the Firm's International Dispute Resolution Group, was ranked 15 out of the top 30 female arbitrators globally by the Global Arbitration Review. The rankings were based on the weighted votes of top arbitrators practicing around the world.
Juliet Blanch, International Dispute Avoidance and Resolution, London, Trial
Juliet Blanch was quoted in the October issue of Legal Business in recognition of being one of the 50 most influential women in the UK legal market. Ms. Blanch emphasized that in the past, women had to believe in themselves. "I never made the mistake of trying to be more boyish than the boys...I learned quickly that you could be true to yourself and succeed," she said. The article also addressed the benefit of diversity in firms, indicating that in one case, opposing [male] counsel watched Ms. Blanch's approach to interviewing traumatized witnesses and "was convinced that he should always have a female lawyer present."
Rick Mitchell, Uwe Goetker, Norbert Schulte, Dirk Pohl, Volker Teigelkotter, Oliver Köster, Georgia Quenby, Loyala de Silva, Kate Geraghty, Stuart Sinclair and Razia Begum were mentioned in the August issue of Juve Rechtsmarkt regarding the advise of the owner of the Group, Dr Alfred Schefenacker on all aspects of the consensual restructuring of the Schefenacker Group.
Loyala de Silva, Kate Geraghty, Uwe Goetker, Richard Mitchell, Dirk Pohl, Georgia Quenby, Norbert Schulte, Stuart Sinclair, Volker Teigelkötter, Corporate, Employee Benefits & Pensions, Germany, London, Tax
Uwe Goetker, Norbert Schulte, Rick Mitchell, Georgia Quenby, Dirk Pohl and Volker Teigelkotter were mentioned in the July 11 issue of Börsenzeitung regarding the representation of Dr. Alfred Schefenacker, owner of the Schefenacker Group, in connection with the Group's comprehensive financial and operational restructuring.
Uwe Goetker, Richard Mitchell, Dirk Pohl, Georgia Quenby, Norbert Schulte, Volker Teigelkötter, Corporate, Employee Benefits & Pensions, Germany, London, Tax
Alison Wetherfield was quoted in the April 17 issue of PersonnelToday in an article on a teachers’ union threatening legal action over the growing trend of "cyber-bullying. The new law would help teachers to require their employers to take this sort of behaviour seriously," Ms. Wetherfield said.
Alison Wetherfield, Employee Benefits & Pensions, Employment - London, London
Peter Nias was quoted in an April 12 article on Times online that discussed the increasing pressures senior lawyers are facing due to keen competition and technology. "There's an expectation with e-mail that once you've pressed send, [the lawyer] is there to receive it," Mr. Nias said.
Alastair Wilson was quoted in the March 22 issue of the Financial Times regarding carbon emission credits to be treated as exempt from tax on profits. "The Treasury is really acknowledging that these credits have become more important and the volume of the market has grown dramatically," commented Mr. Wilson.
Alastair Wilson, Employee Benefits & Pensions, Energy - London, Energy and Derivatives Markets, London
Peter Nias was listed on The Times Law Panel of 100 lawyers published on January 16. The Law Panel is set to boost the legal coverage in the paper and serve as a sounding board for issues and the centerpiece of The Times' online law section.
Peter M.W. Nias, London, Tax, Tax - London
2006
Alasdair Bell was identified as a new member of McDermott's European Competition Practice Group in the December 21 issue of The Wall Street Journal.
Alasdair Bell, Antitrust & Competition, Brussels, EU Competition, London
Rick Mitchell was quoted in a November 13 article published by Financial Times regarding the appeal of private equity firms listing in the U.S. Financial Times reports that if funds are listed in the U.S., they could take advantage of the far bigger investor base and the culture of venture capital investing. Mr. Mitchell commented, "Given that private equity funds are essentially large piles of money with a few people on top, without a large administrative staff in place, it makes send for them to list where the disclosure requirements are less onerous. But once a deal gets big enough, a couple of extra million dollars in compliance costs doesn’t bite that hard."
Richard Mitchell, Corporate, Corporate - London, Finance & Banking, London
Our London office and partners have received a number of recognitions in the 2006 UK Legal 500. McDermott was ranked in 17 disciplines, and a number of our partners were mentioned, which represents a solid increase in partner recognitions from last year. Seven partners in our Corporate Department were recognized.
Peter Nias was quoted in the October 1 issue of International Tax Review on the negative impact of the British tax authority’s anti-arbitrage initiative on the certainty of advice he can give business clients.
Peter M.W. Nias, International Tax, London, Tax, Tax - London
Juliet Blanch received mention as a specialist among the elite firms listed in Global Arbitration Review's (May issue) article on London's "biggest and best" international arbitration groups. The article ranks arbitration practices by peer respect, with McDermott falling into the "ones to watch" category and commenting on Ms Blanch's "fine stylish practice."
Juliet Blanch, Alternative Dispute Resolution, International Dispute Avoidance and Resolution, Litigation - London, London, Trial
David Dalgarno was quoted in the June 20 issue of Personnel Today regarding the tribunal case in which a senior manager was held personally liable for harassment. "Companies should ensure that managers have had up-to-date equal opportunities training. Such training should raise awareness of the potential for personal exposure," he said.
David Dalgarno, Employee Benefits & Pensions, Employment - London, London, Pensions & Incentives - London
Fred Chilton, Peter Faber, Jerry Kaplan, Peter Nias, Arndt Raupach, James Riedy, Art Rosen and Lowell Yoder were recommended in the Cross-border Tax on Corporate Transactions: PLC Which Lawyer Handbook published by Practical Law Company. McDermott was highly recommended.
Frederick Chilton, Peter L. Faber, Jared Kaplan, Peter M.W. Nias, Arndt Raupach, James A. Riedy PC, Arthur R. Rosen, Lowell D. Yoder, Germany, International, International Tax, London, Tax, Tax - Germany, Tax - London
Our London office was mentioned in the Daily Telegraph on June 1 in connection with its legal work on a celebrity recipe book, Soup Kitchen, compiled to raise money for homeless charities. To date, it has raised £52,000.
In its April issue Legal Business recognized McDermott's commercial litigation experience in a recent article that identified the U.S. law firms who are going head-to-head with the Magic Circle UK law firms. McDermott was ranked in the "major U.S./global firms" category.
Litigation - London, London, Trial
Clare Sellars was quoted in the March 2006 issue of EURALex's European Healthcare Law & Regulatory News in an article titled "Advocate General issues ground-breaking opinion on NHS and patient mobility." The article focuses on the issue of NHS patients traveling to other EU member states in order to receive medical treatment and the relevance of Article 49 when determining a patients right to receive such treatment. Ms. Sellar's commented, "It will certainly have implications, but the concern that this case will lead to large numbers of people circumventing NHS waiting lists by going abroad for treatment should probably not be over-played. This case is significant as this is the first time the principles of the existing case law have been applied directly in the context of a national health service."
Juliet Blanch was quoted in the February 16 issue of Financial Times in regard to bilateral-investment-treaty-based disputes and how developing country governments don't have access to the information traded in these cases.
Juliet Blanch, Alternative Dispute Resolution, International, London, Trial
2005
Scott Megregian was quoted in the December 23 issue of the International Herald Tribune regarding EU regulators' threat to impose fines of millions of euros a day on Microsoft for breach of compliance of an antitrust ruling imposed in March 2004.
Scott S. Megregian, Antitrust & Competition, London
Rohan Massey was interviewed for the weekly Radio 4 Law in Action program regarding his views on the relationship between the growth of internet use and the growth in reports of identity theft.
Rohan Massey, Intellectual Property, Media & Technology, IP, Media & Tech - London, London
Davina Garrod was quoted by IDG News Service on October 12 in regard to a new complaint against Microsoft which has reportedly been submitted to the European Commission by a security software provider. Last year, a Commission ruling found that Microsoft abused its dominant market position by bundling its Media Player software with its Windows OS without a legitimate business justification. Ms. Garrod commented that this ruling only applied to the bundling of the Media Player to the relevant Windows OS, "The decision is limited to the facts of the case and so does not prohibit Microsoft from bundling other products with its OS if it wants."
Davina Garrod, Antitrust & Competition, EU Competition, London
McDermott Will & Emery was mentioned in the Big Suits column in the October issue of IP Law & Business in regard to representing Document Security Systems Inc. in its suit against the European Central Bank alleging that all euro banknotes in circulation infringe its European patent.
, Intellectual Property, Media & Technology, IP, Media & Tech - London, London
Peter Nias was quoted in the September issue of Tax Business in relation to concerns in the UK over what is meant by Her Majesty's Revenue and Custom's criterion of "gaining a tax advantage" and to what extent tax minimization is a "proper commercial purpose" as this year's deadline for declaring suspect transaction draws closer.
Peter M.W. Nias, London, Tax, Tax - London
McDermott was mentioned in the August 3 issue of Financial Times Deutschland and Süddeutsche Zeitung as the law firm advising DSSI in its lawsuit against the European Central Bank.
, Intellectual Property, Media & Technology, IP, Media & Tech - London, London
Michael McFall was quoted in Legal Business in regard to Honda's law firm management initiative. Honda asked their four key legal advisers, of which McDermott Will & Emery is one, to take part in a 360 degree feedback process to discover more about the relationships between Honda and their lawyers and to establish ways of sustaining/improving these relationships.
Michael G. McFall, Corporate, Corporate - London, London
Peter Nias was quoted in the May 2005 issue of the International Tax Review in an article that discusses a protracted legal wrangle between Marks & Spencer retailers and the UK government for cross-border group relief within the EU. The M&S case is leading the way on this issue, but there are more than 60 other companies making similar claims. "There needs to be some dialogue. The UK may be an island and drive on the left, but it is still part of the EU. The government should anticipate the judgment going against them and work out how best to become compliant and remain competitive at the same time," Mr. Nias said.
Peter M.W. Nias, London, Tax, Tax - London
Rick Mitchell was quoted extensively in the March 10 issue of the Financial Times in an in-depth corporate governance feature entitled, "Long arm of the U.S. regulator." The article discusses how some overseas companies feel trapped as the U.S. Securities and Exchange Commission flexes its muscles far from home.
Richard Mitchell, Corporate, Corporate - London, London
Katie Clark was quoted in the February 1 issue of Personnel Today regarding the case of Lionel Leventhal Ltd. v. North and the warning going out to employers to keep a paper trail during redundancy procedures as well as considering the issue of 'bumping'. "The ruling is saying when an employer makes redundancies it should consider bumping. Employers need to ensure there is a paper trail so they are protected. The employer shouldn't just assume that a senior employee won't accept a junior position." Ms. Clark emphasizes, "That is when the unfairness arises. The message to employers is not to make any assumptions."
Katie L. Clark, Employee Benefits & Pensions, Employment - London, Labor & Employment, London
2004
Scott Megregian is quoted in the August issue of Acquisitions Monthly regarding potential use of the Supreme Court's recent Intel v. AMD decision for expanded civil discovery in non-U.S. competition cases.
Scott S. Megregian, Antitrust & Competition, London
2003
McDermott Will & Emery was mentioned in a June 10th PR Newswire as sponsors of PRISM's 2003 European Intangibles Summit.
Scott Megregian was quoted in the May 23 issue of The Deal regarding the increased activity of antitrust regulators, to keep the public informed, and that transparency is likely to become standard practice in Britain. Mr. Megregian commented that the Enterprise Act, which will make the main enforcers more transparent, is a good thing.
Scott S. Megregian, Antitrust & Competition, International Antitrust & Competition, London
McDermott Will & Emery was mentioned, among other firms, as one of the firms that has successfully expanded out of legal regional centers, and into Europe, in an article published in the May 15 issue of Legal Week.
McDermott Will & Emery was listed as advising Numis Securities as sole underwriter on the £43m placing and open offer of 133.5 m shares in Lloyd's insurance and reinsurance company Chaucer Holdings, published by Legal Week on May 1.
Scott Megregian was quoted in the April 1 issue of Commercial Lawyer in an article on the merger control in the game of corporate strategy.
Scott S. Megregian, Antitrust & Competition, London, M&A/JVs - Antitrust Aspects
McDermott Will & Emery was mentioned as "arguably one of the most ambitious US firms here [London]…" in the spring issue of Lex Magazine.
Alison Wetherfield was quoted in the March 1 issue of In Brief Monthly on when employers can snoop on their employees.
Alison Wetherfield, Employment - London, Labor & Employment, London
Peter Nias was quoted in the Financial Times on February 17 in regard to a recent ruling of the European Court of Justice (ECJ) which found discriminatory and unlawful the thin capitalization rules in the German tax code that could at best give UK businesses a timely cash boost or worse increase bureaucracy and taxes. Mr. Nias commented that the ECJ decision could potentially have a similar impact in the UK (and in all EU countries) and if the UK thin capitalization rules are held to be discriminatory and unlawful it could result in UK subsidiaries of multinational companies financed by an EU affiliate looking to the Inland Revenue for redress if part of their interest expense was disallowed or an amount of loss carried forward was reduced.
Peter M.W. Nias, International Tax, London, Tax, Tax - London
Davina Garrod was quoted in the February 12 issue of The Washington Post in regard to Microsoft rivals filing antitrust complaints in Europe. Ms. Garrod was also quoted in a similar story which ran in a February issue of the Seattle Times.
Davina Garrod, Antitrust & Competition, London
Rick Mitchell was quoted in the February 3 issue of The Deal regarding those European companies who want their shares traded in the U.S. will have to make several changes in 2003 despite the softening of some of the rules for foreigners.
Richard Mitchell, Corporate, London, Securities
Davina Garrod was quoted on February 3 on The Deal.com in an article addressing the likely vetting by the Competition Commission of the proposed take-over of Carlton Communications plc by Granada plc.
Davina Garrod, London, Mergers & Acquisitions
2002
McDermott Will & Emery was mentioned in the November 14 issue of the Gazette for their work advising Britannia Living and Graphite Capital Management on the £22 million recommended cash offer for The Range Cooker company.
London, Mergers & Acquisitions
Nicholas Azis was listed in the November 11 issue of Financial News as part of the law team acting for Britannia Living in their offer for Range Cooker.
Nicholas Azis, London, Mergers & Acquisitions
McDermott Will & Emery was mentioned in the October 3 issue of Legal Week in regard to the Firm's continued growth and expansion in London.
Scott Megregian was quoted in a feature article published in the September issue of Corporate Finance on the European Commission's proposals, which are expected to radically change competition law and the subsequent conduct of M&A transactions across the world.
Scott S. Megregian, Antitrust & Competition, London, Mergers & Acquisitions
Richard Mitchell was quoted in the September issue of Corporate Finance on an article addressing how non-U.S. corporates will be lobbying the SEC, the NYSE and politicians in an effort to be excluded from some of the more onerous provisions of the Sarbanes-Oxley Act.
Richard Mitchell, Corporate Responsibility, London
Rick Mitchell was quoted in the August 20 issue of the Daily Deal in an article addressing whether the SEC will exempt foreign companies from any of the new "corporate governance" rules under the Sarbanes-Oxley Act. The article highlights Porsche AG, which recently put its plans for a secondary listing in the U.S. on hold, at least in part as a result of the new rules. Mr. Mitchell stated his view that "It may be that companies like Porsche decide not to list, and that is a bad thing. The SEC has worked hard to attract non-U.S. companies to the U.S. market, and that’s good for the companies and good for U.S. investors as well."
Richard Mitchell, Corporate Responsibility, London
Rick Mitchell was quoted in the August 15 issue of the Daily Deal in an article addressing the August 14 deadline for top executives to personally swear to the accuracy of their financial results. Mr. Mitchell commented on Europe's response to these certifications, "Europeans are hot and bothered by the actions of Congress and the SEC." He also mentioned that foreign businesses see this as "Washington legislating for Europe," and expressed his thoughts that the decision to include foreign companies in this bill may not have been wise as some of the provisions conflict with the way foreign companies conduct their business.
Richard Mitchell, Corporate Responsibility, London
Scott Megregian was profiled in the July 15 issue of The Lawyer. Mr. Megregian discussed McDermott Will & Emery's EU competition practice and his move to London.
Scott S. Megregian, Antitrust & Competition, EU Competition, London
Peter Nias was quoted in the May 6 issue of the New York Law Journal and the May 10 issue of Corporate Counsel in regard to Europe’s lack of a unified tax system. According to Mr. Nias, a piecemeal approach will eventually succeed, "There’s momentum building. One day, multinational corporations will wake up and say: ‘So, really we’re now all harmonized.’ One day we’ll just realize it’s happened."
Peter M.W. Nias, International Tax, London, Tax, Tax - London
McDermott Will & Emery was mentioned in the May issue of American Lawyer as one of the few American firms in London expanding their arbitration and dispute resolution practices.
Litigation - London, London, Trial
McDermott Will & Emery was mentioned in the April 2002 issue of International Financial Law Review, which announced its Project Finance Deal of the Year: the Dutch high speed rail link.
McDermott Will & Emery was ranked ninth largest out of the top 50 U.S. law firms in London in the February 18 issue of The Lawyer.
2001
McDermott Will & Emery was mentioned in the December issue of Legal Business in a piece on litigation and antitrust departments being launched by U.S. firms in London. McDermott was mentioned for having a notable dispute resolution practice.
Antitrust & Competition, Litigation - London, London, Trial
Scott Megregian was quoted by Legal Media Group on November 25 in an article on EU fines and that cooperation with the regulators will be rewarded with exemptions from fines in future cartel investigations.
Scott S. Megregian, Antitrust & Competition, Cartel Investigations, EU Competition, International, London
McDermott Will & Emery was mentioned in the November 13 issue of the Law Gazette for having advised the European Investment Bank on the project financing of the HSL-Zuid high speed rail.
Finance & Banking, International, London
McDermott Will & Emery was referred to as offering "U.S.-style advice" to UK companies including ING Barings, IAC Holdings and Chrysalis in the August 20 issue of Financial Times. The article, "Going for the American option..." addresses the increased options for UK companies regarding legal advice on big corporate deals — U.S firms with London offices.
Corporate, Corporate - London, International, London, Mergers & Acquisitions
McDermott Will & Emery's London office was mentioned as advising the film finance company, IAC Holdings, in its flotation on AIM in the August 6 issue of The Lawyer.
Finance & Banking, London, Securities
McDermott Will & Emery was featured in "International Firms in London" annual review and schedule of the May 31 issue of Legal Week. "The call of the capital" looks at firms looking to establish a presence in London and the options of merging or setting up a new partnership
McDermott Will & Emery’s growth in London was outlined in a chart published in the May 2001 issue of American Lawyer. The rate of growth from 1999 to 2000 was noted at 233% and the growth from 2000 to 2001 was marked as 30%.
