09-30-2017

Becker Glynn Represents European Family Office in $316,500,000 Sale of Private Equity Interests

The Firm represented a European-based Family Office, a long standing client of the Firm, in its secondary market sale of approximately $316,500,000 of interests in 64 different private equity investment limited partnerships. There were three separate purchasing groups, each with its own Purchase and Sale Agreement and separate legal representation. The client’s goal was to consummate all of the sales as of September 30, 2017, and that target date was accomplished, notwithstanding the need for consent to the proposed limited partnership interest transfers from the general partners of each of the limited partnerships. From initial drafts in mid-August of this year to final closings on September 30, 2017, the entire portfolio was sold and full payment received by the client.

09-10-2017

Susanne von Türk co-authored the GTAI annual report on the US labor market and employment law

Susanne von Türk co-authored the annual report on the US labor market and employment law, entitled “Lohn- und Lohnnebenkosten - USA.”  The report is published by Germany Trade & Invest  (generally known as GTAI),  the economic development agency of the Federal Republic of Germany.

08-30-2017

Closing Arguments Held in Two-Week Trial

Becker Glynn’s litigation team completed a two-week bench trial before Judge Denise J. Casper in the federal district court in Boston.  Representing a Taiwanese semiconductor company, AcBel Polytech Inc., the Firm brought multiple breach of warranty claims against Fairchild Semiconductor Corp., a U.S. company with world-wide subsidiaries.  The Firm presented evidence from 10 fact witnesses and two experts.  Closing arguments were presented in August; a verdict is expected in the fourth quarter of 2017.

08-16-2017

BECKER GLYNN SERVES AS NEW YORK COUNSEL IN $27 MILLION CONVERTIBLE NOTE FINANCING OF TELECOMMUNICATIONS COMPANY OPERATING IN SOUTH AMERICA

The Firm served as New York counsel in connection with a $27,500,000 convertible note financing carried out by a South American telecommunications company offering mobile phone and LTE mobile communication services in South America.

05-17-2017

BECKER GLYNN REPRESENTS SOCIÉTÉ DE PROMOTION ET DE PARTICIPATION POUR LA COOPÉRATION ECONOMIQUE (PROPARCO) S.A. IN $25 MILLION LOAN TO TELECOMMUNICATIONS COMPANIES WITH OPERATIONS IN CENTRAL AMERICA

The Firm served as international and New York transaction counsel to PROPARCO in connection with a $25,000,000 loan to Central American co-borrowers Torrecom Partners LLC y Compañía Limitada and Torrecom Guatemala, Limitada, for the construction and development of mobile phone telecommunications infrastructure in Guatemala and Nicaragua.

04-10-2017

BECKER GLYNN REPRESENTS INTER-AMERICAN INVESTMENT CORPORATION IN $100 MILLION LOAN TO ARGENTINE WIRELESS COMPANY TELECOM PERSONAL S.A.

The Firm served as international transaction counsel to Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group, in connection with a $100 million loan to Telecom Personal S.A. to expand its 4G network across the country.

11-11-2016

Firm Secures Important Victory for Japanese Bank in a Madoff Related Bankruptcy Proceeding

The Bankruptcy Court for the Southern District of New York issued an important ruling in a Madoff related matter, dismissing all claims against the Firm’s banking client.  The trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (“BLMIS”) sued the Firm’s client to recover more than million in funds transferred to the client from a B.V.I. investment fund.  BLMIS contended that the funds were initially transferred from BLMIS to the B.V.I. fund. Working with a large defense group of similarity situated banks, the Firm argued that BLMIS’s claims were barred by the principles of international comity and the prohibition on extraterritorial application of certain bankruptcy provisions.  In a complete victory, the U.S. bankruptcy court issued a 94-page ruling, dismissing the claims on the grounds of international comity.  

11-01-2016

ALEC P. OSTROW’S LATEST BANKRUPTCY ARTICLE IS PUBLISHED IN THE 2016 NORTON ANNUAL SURVEY OF BANKRUPTCY LAW

The 2016 Norton Annual Survey of Bankruptcy Law published the attached article by Alec P. Ostrow called "Cannily Employing a Strict Construction of the Inclusion in Administrative Expenses."  The article focuses on a surprising majority decision by the Sixth Circuit court of appeals in connection with reimbursable expenses and attorneys’ fees of creditors in bankruptcy cases.  The statute expressly authorizes these reimbursements for creditors making a “substantial contribution” in chapter 9 municipality cases and chapter 11 reorganization cases.  As a result, most courts and practitioners had concluded that such reimbursements were unavailable in chapter 7 liquidation cases.  The majority held otherwise over a strong dissent.  The article discusses the majority’s rationale and its potentially significant consequences in other contexts, especially for the payment seemingly prohibited or restricted fees, and other kinds claims.

10-14-2016

KENNETH J. STUART UPDATES THE ABA SECTION OF INTERNATIONAL LAW ON “CAPITAL ACQUISITION BROKERS: A NEW SEC REGISTRATION CATEGORY PROVIDING CLARITY AND RELIEF FOR M&A BROKERS”

The October 2016 issue of the ABA Section of International Law - M&A and JV Committee Newsletter published the attached article by Becker Glynn's Kenneth J. Stuart called "Capital Acquisition Brokers: A New SEC Registration Category Providing Clarity And Relief for M&A Brokers."

05-03-2016

FIRM WINS APPEAL FOR ARGENTINE ENERGY COMPANY

In connection with an earlier News item, the Firm secured in an important appellate victory for an Argentine Energy company, which was sued by a B.V.I. investment company in connection with an $80 million transaction.  The two companies considered working together to purchase a third company.   The Firm’s client purchased the third company without the B.V.I. company.  The B.V.I. company sued in New York for alleged breaches of a “non-circumvent” agreement.  The Firm’s lawyers moved to dismiss the claims for failure to state a cause of action, without having to conduct any discovery.  Relying on an exception to the normal rule prohibiting the use of documentary evidence on a pre-answer motion to dismiss, the Firm’s lawyers successfully persuaded the New York court to dismiss all of the claims outright.  The New York Appellate Division affirmed the dismissal.

04-15-2016

KEN STUART SPEAKS ON DIRECTOR INDEPENDENCE IN KUALA LUMPUR, MALAYSIA

Of counsel Ken Stuart was one of the speakers at the Inter-Pacific Bar Association Annual Meeting April 13-16, 2016 in Kuala Lumpur, Malaysia, participating in a program on “Outside Directors and/or Independent Directors: Diversity in Corporate Governance.”  Joined by speakers from Japan, Singapore, Indonesia and Vietnam, the program surveyed the requirement in various jurisdictions for a minimum number of independent directors on a managing board, and the expected role and eligibility of an independent director, exploring the reasons for the difference among countries in relation to independent directors.

02-01-2016

BECKER GLYNN REPRESENTS INTERNATIONAL FINANCE CORPORATION IN $200 MILLION LOAN TO CHILEAN BANK ITAÚ CHILE

The Firm served as international transaction counsel to International Finance Corporation (IFC), the private sector arm of the World Bank Group, in connection with a $200 million loan to Banco Itaú Chile to support the expansion of access to finance for small and medium enterprises, helping to foster the development of a key sector for the Chilean economy.  Finance-monthly.com April 2016

11-30-2015

Flos USA acquires Lukas Lighting, Inc.

Becker Glynn represented leading high-end Italian lighting group, Flos SpA, in its acquisition of Lukas Lighting, Inc.  Lukas Lighting, based in New York, designs, develops, and manufactures custom lighting products primarily for corporate, retail, and hospitality interiors.  Flos SpA is owned by InvestIndustrial, an Italian private equity firm.

11-04-2015

Becker Glynn represents majority shareholder in Hochschild Mining Rights Issue

The Firm advised Mr. Eduardo Hochschild in connection with the approximately £65 million rights issue by Hochschild Mining plc.  Hochschild Mining is listed on the London Stock Exchange and is a leading producer of precious metals, focused on the exploration, mining and processing of silver and gold in Latin America. Prior to the rights issue, Mr. Hochschild indirectly owned approximately 54% of the shares of Hochschild  Mining. Through a wholly owned company, he subscribed in the rights issue for approximately £35 million in ordinary shares of Hochschild Mining and maintained his percentage interest in the company. The Firm advised Mr. Hochschild on his commitment to subscribe for shares in the rights issue and on the sourcing of funds to be used for the purchase.

11-01-2015

BECKER GLYNN TAX PARTNER DISCUSSES FATCA COMPLIANCE ISSUES IN SPECIAL REPORT PUBLISHED IN LAWYER MONTHLY

Lawyer Monthly speaks to Becker Glynn's Stacey A. Mesler about USA FATCA.  Lawyer Monthly, Issue 68-15

10-29-2015

BECKER GLYNN PREVAILS IN IMPORTANT “TAKINGS CASE”

The Firm’s clients are family members of an individual killed in 1989 by an act of Libyan state-sponsored terrorism.  On September 19, 1989, Mihai Alimanestianu, a United States national, died when the plane in which he travelled was destroyed by Libya while it flew over Niger.  In 2002, Mr. Alimanestianu’s family members won a U.S. judgment against Libya in excess of billion.  Subsequently, however, the U.S. government voided the judgment as part of an agreement with Libya to normalize relations.

The Firm brought an action because the U.S. government had “taken” the judgment and thus owed “just compensation.”  Relying on recognized legal precedent, the Firm quoted Supreme Court Justice Powell that “[t]he Government must pay just compensation when it furthers the Nation’s foreign policy goals by using as bargaining chips claims lawfully held by a relatively few persons and subject to the jurisdiction of our courts.” Dames & Moore v. Regan, 453 U.S. 654, 691 (1981).  The Federal Court of Claims accepted the Firm’s argument that the lawsuit presented a legitimate claim and denied the government’s motion to dismiss.  The case is proceeding.

10-27-2015

Becker Glynn Represents IFC in $100 Million Guarantee to Support Rural Lending Operations of Brazilian Bank

The Firm served as New York counsel to International Finance Corporation (IFC) in connection with a $100 million partial credit guarantee to Brazilian bank Banco Cooperativo Sicredi S.A. (Sicredi) to support Sicredi’s lending operations to rural mid-size enterprises in Brazil. The Firm's representation of IFC in this transaction included advice and assistance during the drafting and negotiation of the guarantee agreement and related New York law-governed documents and the preparation of a legal opinion thereon.

10-13-2015

IN MEMORY OF DAVID W. SCHAAF

With sadness we note that our partner David W. Schaaf passed away on October 13, 2015.  His intelligence, wit and deep commitment to his clients will be missed, and we extend our sincere sympathy to his family and loved ones.

09-03-2015

Nima Capital invests in Rubicon Global

Becker Glynn represented NY-based family office Nima Capital, LLC, as lead investor in a million Series C round funding of Rubicon Global Inc., an Atlanta-based start-up that uses mobile apps to connect local waste haulers and recycling businesses to their customers.  Nima Capital was joined in the investment by Goldman Sachs, Wellington Management Co., KKR founder Henry Kravis, and others.

08-21-2015

FIRM SECURES DISMISSAL OF ACTION AGAINST ARGENTINE ENERGY COMPANY

The Firm secured in an important victory for an Argentine Energy company, which was sued by a B.V.I. investment company in connection with an million transaction.  The two companies considered working together to purchase a third company.   The Firm’s client purchased the third company without the B.V.I. company.  The B.V.I. company sued in New York for alleged breaches of a “non-circumvent” agreement.  After beating back a preliminary injunction, the Firm’s lawyers moved to dismiss the claims for failure to state a cause of action.  Relying on an exception to the normal rule prohibiting the use of documentary evidence on a pre-answer motion to dismiss, the Firm’s lawyers successfully persuaded the New York court to dismiss all of the claims outright.

08-03-2015

Becker Glynn represents International Finance Corporation in a $520 Million Financing of Oil and Gas Producer in Argentina

The Firm represented International Finance Corporation (IFC) in connection with a $520 million long-term financing of Pan American Energy LLC, Argentine Branch (PAE), the second largest oil and gas producer in Argentina. The financings are comprised of a $120 million loan provided by IFC and a $400 million loan raised by IFC from commercial lenders. The Firm's representation of IFC in this transaction included advice and assistance during the drafting and negotiation of the loan agreement and related documentation, the preparation of a legal opinion thereon and assistance in connection with the first disbursement of the loans.

04-09-2015

Firm Secures Dismissal and Sanctions on Behalf of Chileans Facing Frivolous Trafficking Charges

The Firm obtained summary judgment from the bench in a case before Southern District judge Alvin Hellerstein on behalf its clients, a prominent Chilean couple.  The couple had been sued by their former nanny for human trafficking, breach of contract, fraud, and negligent infliction of emotional distress.  Judge Hellerstein rejected the plaintiff’s claims, and sanctioned her and her counsel for making false and incredible statements.  This result vindicated the Firm’s clients, whose reputations had been badly damaged by wide press coverage.  The Firm also secured a substantial award of costs from the plaintiff’s counsel as a sanction for their role in pursuing knowingly false allegations.  

03-04-2015

Becker Glynn Represents DEG in $20 Million Financing to Factoring Company

The Firm served as New York counsel to DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) in connection with a $20 million loan to DS-Concept Trade Invest LLC (DS), a Delaware subsidiary specializing in the factoring business of DS-Concept International Service FZE, a Dubai company. The Firm's representation of DEG in this transaction included the review of certain German law agreements, the preparation and negotiation of a New York law security agreement, and the preparation of a legal opinion covering certain aspects in connection with such agreements.

11-13-2014

BECKER GLYNN REPRESENTS DEG AND FMO IN APPROXIMATELY MILLION FINANCING OF THE CONSTRUCTION OF HYATT PLACE HOTELS IN THE REPUBLIC OF HONDURAS AND THE REPUBLIC OF NICARAGUA

The Firm served as international transaction counsel to DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) and the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) in connection with (i) an approximately million credit facility to Desarrollos Hoteleros de Honduras S.A. de C.V. for purposes of the development and construction of two greenfield hotels in the Republic of Honduras and (ii) an approximately million credit facility to Desarrollos Hoteleros de Nicaragua, S.A. for purposes of the development and construction of a greenfield hotel in the Republic of Nicaragua.  The three hotels are designed and will be operated under the Hyatt Place brand, a 4-star select-service hotel concept from the Hyatt Group.  The initial closing of the transaction occurred in the fall of 2014.  The Firm's representation of DEG and FMO during the transaction included advice and assistance during the due diligence process and the drafting and negotiation of the loan agreement and related documents, as well as post-closing modifications. The Firm also assisted DEG and FMO in coordinating the Honduran and Nicaraguan legal aspects of the transaction with, respectively, Honduran and Nicaraguan counsel to the lenders and the borrower.

08-08-2014

BECKER GLYNN WINS $157,921,020.29 JUDGMENT FOR EUROPEAN CLIENT

A long-term litigation ended favorably when the federal court for the Southern District of New York entered a judgment for a Becker Glynn client in the amount of $157,921,020.29.  The case began when the Swiss client was sued in New York by U.S. citizens for a variety of alleged breaches of contract.  In opposition, Becker Glynn answered the complaint and brought cross-claims against third-parties residing in the U.K. and Lichtenstein, contending that the third-parties were impermissibly using the U.S. courts to further a scheme made illegal by the Racketeer Influenced and Corrupt Organizations Act (“RICO”).  Subsequently, the Firm secured a dismissal of the claims brought against its client and the $157,921,020.29 affirmative award based on the third-parties’ violation of RICO.

04-15-2014

Firm Successfully Defends Dismissal of Class Action Claims Before Appellate Court

The Firm successfully defended the dismissal of class claims brought against a domestic publicly-traded corporate client in New York State Supreme Court.  The class claims sought a multi-million dollar judgment against the client on behalf of thousands of plaintiffs.  The Firm initially obtained a dismissal of the class claims from the trial court, in a decision dated January 29, 2013.  The plaintiffs appealed to the Appellate Division, First Department.  The Appellate Division unanimously rejected the appeal in a decision dated April 15, 2014.

01-01-2014

Stacey A. Mesler is Elected Partner

The Firm is pleased to announce that on January 1, 2014, our associate Stacey A. Mesler became a partner in the Firm.  She will continue to concentrate in tax law.

12-17-2013

BECKER GLYNN SECURES A RICO JUDGMENT AND PERMANENT INJUNCTION

The Firm’s European client has faced years of litigation in the U.S., Switzerland, and Israel for purported breaches of complicated financial contracts.  The Firm brought third-party claims against a U.K. resident, contending that the lawsuits were part of a RICO extortion scheme he controlled.  The federal court for the Southern District of New York found the U.K. resident liable and enjoined him from participating in any future lawsuits against our client.

12-13-2013

In Memory of Peter Van Nuys

With sadness we note that our counsel and former partner Peter Van Nuys passed away on December 13, 2013.  He will be missed by the Firm and his clients, and we extend our sincere sympathy to his family and loved ones.

12-03-2013

BECKER GLYNN WINS REVERSAL OF $ MILLION JUDGMENT

The Firm won a two-week jury trial in New York State Supreme Court, prevailing on the client’s multi-million dollar contract claim and defeating the defendant’s counterclaim.   The trial court reversed the jury’s ruling on the defendant’s counterclaim, awarding it $ million.  The Firm appealed that ruling.  The Appellate Division, First Department, reversed the trial court’s order and vacated all damages awarded against our client.

11-30-2013

Becker Glynn Represents International Finance Corporation And Corporación Andina De Fomento In Connection With $250,000,000 Financing Of Large Telecom Operator In Colombia

The Firm served as international transaction counsel to International Finance Corporation (IFC), the private sector arm of the World Bank Group, and Corporación Andina de Fomento (CAF) in connection with a parallel equity investment in Avantel Acquisition Ltd. that closed in November 2013.  IFC's and CAF's equity investments will be used to finance the development and expansion of Avantel S.A.S.’s 4G network in Colombia and are part of an equity capital raise by Avantel in which Appaloosa Management and the major shareholder of Avantel, Discovery Capital, also participated. The Firm's representation of IFC and CAF included advice and assistance during negotiations, drafting of the respective subscription agreements, shareholders agreement and other related documentation and coordinating closing of the transaction with Avantel’s counsel in New York and IFC’s, CAF’s and Avantel’s counsel in Colombia and the British Virgin Islands.

09-01-2013

Kenneth J. Stuart publishes article on the elimination of the prohibition on using general solicitation and advertising in private offerings of securities

The September 2013 issue of the IPBA Journal published the attached article by Kenneth J. Stuart called "General Solicitation and Advertising Is Now Permitted for US Securities Offerings." IPBA Journal Sept 2013 - Stuart

09-01-2013

Chester B. Salomon publishes article on the UNCITRAL Forty-Third Session of Working Group V (Insolvency Law) at the United Nations

The September 2013 issue of the IPBA Journal published the attached article by Chester B. Salomon called "UNICTRAL Forty-Third Session of Working Group V (Insolvency Law) at United Nations, 15-19 April 2013." IPBA Journal Sept 2013 - Salomon

01-29-2013

Firm Defeats Class Action Claims

The firm obtained the dismissal of wage and hour class action claims brought against a domestic publicly-traded corporate client in New York State Supreme Court.  The class claims sought a multi-million dollar judgment against the client on behalf of thousands of plaintiffs.  After the trial court dismissed the case, the plaintiffs appealed to the Appellate Division, First Department.  The firm's attorneys persuaded the First Department to reject the appeal.  

01-28-2013

Becker Glynn Wins Multi-Million Dollar Jury Verdict

The firm successfully prosecuted a breach of contract claim involving computer software on behalf of a domestic, publicly-traded client.   In a two-week jury trial in the Commercial Division of the New York Supreme Court, the firm prevailed in establishing that the defendant vendor provided false progress reports on the progress of the software development project.  The jury awarded a multi-million dollar damages award.

12-14-2012

Becker Glynn Handles $255 Million Sale of Banner Pharmacaps Group by VION N.V.

The firm represented VION NV in connection with its sale of VION's Banner Pharmacaps division to Patheon Inc., a Canadian, publicly traded provider of development and commercial manufacturing services for solid and sterile prescription drugs.  Banner is the world’s second largest pharmaceutical business focused on delivering proprietary softgel formulations.  The company has four manufacturing facilities, significant proprietary technologies and products, and leading positions in some of the industry’s fastest-growing product categories.  Banner is headquartered in High Point, N.C., with additional research labs and manufacturing facilities in The Netherlands, Canada, and Mexico. VION, with headquarters in Eindhoven, The Netherlands, is a global food company active in the fields of high-quality foodstuffs and ingredients for people and animals. In 2011 VION had turnover of €9.5 billion. The transaction was structured as a sale of all of the shares of the entities through which Banner conducts its worldwide operations for a purchase price of approximately $255 million, subject to certain post-closing adjustments.  After obtaining regulatory approvals, the transaction closed on December 14, 2012.  The firm represented VION throughout the entire sale process.

08-01-2012

Madoff Cases Withdrawn from Bankruptcy Court

The firm represents multiple clients defending claims made by the Madoff trustee seeking to "claw back" transfers and subsequent transfers. By order of April 13, 2012, Judge Rakoff of the Southern District of New York withdrew certain of these matters to consider issues raised by the U.S. Supreme Court in Stern v. Marshall.

06-01-2012

Kenneth J. Stuart Publishes Article on U.S. Securities Law Developments Under The JOBS Act

The June 2012 issue of the IPBA Journal published the attached article by Kenneth J. Stuart called "US Securities Law Developments Under the JOBS Act."  In the article, Mr. Stuart explains how the Jumpstart Our Business Startups Act materially changes existing federal securities laws and regulations governing raising new capital, observing that the JOBS Act changes "may well alter the way in which public and private offerings of securities are conducted" in the U.S.  IPBA Journal June 2012  

04-13-2012

Madoff Case Withdrawn from Bankruptcy

The firm represents multiple clients defending claims made by the Madoff trustee seeking to "claw back" transfers and subsequent transfers. By order of April 13, 2012, Judge Rakoff of the Southern District of New York withdrew certain of these matters to consider issues raised by the U.S. Supreme Court in Stern v. Marshall.

03-30-2012

Firm Defeats Motion for Class Certification

On March 30, 2012, Judge Richard Owen of the Southern District of New York denied the motion of plaintiffs to certify a class of thousands of New Yorkers seeking to bring contract claims against a European company.

03-20-2012

Tribune Cases Consolidated in New York

On March 20, 2012, the Multi-District Litigation Panel continued its consolidation in the Southern District of New York of fraudulent conveyance actions brought against former Tribune Company shareholders arising out of the Tribune Company leveraged buy-out. The firm represents as defendants financial institutions, pension funds, and others in these litigations.

03-01-2012

Becker Glynn bolsters international practice by adding Eric D. Kuhn

Becker, Glynn, Melamed & Muffly LLP is pleased to announce that Eric D. Kuhn has joined the firm as a partner. Mr. Kuhn’s practice concentrates on international business transactions and counseling, as well as advising on M&A, joint ventures and other corporate transactions. Mr. Kuhn also acts as outside “general counsel” for non-US companies (principally from Europe and Latin America) entering the United States across a range of matters, including structuring entities for inbound investment, negotiation and drafting of shareholder and operating agreements, manufacturing, distribution, employment, consulting, license and confidentiality agreements and counseling in general business and dispute resolution matters. Mr. Kuhn spent the first ten years of his career at the New York and Milan and Rome, Italy offices of Cleary Gottlieb Steen & Hamilton LLP and Latham & Watkins LLP, and was most recently a partner at Fox Horan & Camerini LLP in New York. Mr. Kuhn graduated from the University of Pennsylvania (B.A. summa cum laude, 1993) and Boston University School of Law (J.D. magna cum laude, Law Review, 1997). He is admitted to the bar in New York and Massachusetts, served on the Foreign & Comparative Law Committee of the Bar of the City of New York, of which he is a member, and is a member of the International Bar Association and the International Association of Young Lawyers (AIJA). Mr. Kuhn is fluent in Spanish and Italian and is a dual citizen of the United States and Italy.

01-01-2012

Jordan E. Stern Named Counsel

The Firm is pleased to announce the elevatation Jordan E. Stern to the position of counsel.  Mr. Stern, a graduate of Dartmouth College and New York University Law School, will continue his concentration on commercial and international litigation.

12-30-2011

Becker Glynn Represents Rousselot Holdings Inc. and Vion N.V.

The firm served as counsel to Rousselot Holdings Inc. (Rousselot) and Vion N.V. (Vion) in Rousselot’s acquisition of Eastman Gelatine Corporation from Eastman Kodak Company. The transaction closed on December 30, 2011 and financial details were not disclosed.

Eastman Gelatine Corporation is based in Peabody, MA, and manufactures approximately 5,500 tons of gelatin per annum for the photographic, pharmaceutical, edible protein and food/confectionery market sectors. As part of the transaction, Rousselot acquired approximately 575,000 square feet of production space and approximately 95 employees of Eastman Gelatine Corporation continued with the business. Following the closing, the company changed its name to Rousselot Peabody Inc. The acquisition contributes to Rousselot’s strategy of worldwide presence in gelatin and proximity to customers and will add to its leading position in gelatin manufacturing worldwide.

The firm's representation of Rousselot and Vion included performing due diligence, advice and assistance during negotiations, drafting of the stock purchase and sale agreement and related agreements and documentation.

12-29-2011

Becker Glynn Represents Cementos Pacasmayo in Phosphate Joint Venture With Mitsubishi and Zuari Industries Limited

The firm represented Peruvian cement manufacturer Cementos Pacasmayo S.A.A. in the sale of a minority interest in Fosfatos del Pacifico S.A., a Peruvian listed company which holds a world class phosphate rock concession in the Bayovar region of Peru. MCA Phosphates Pte Ltd., a Singapore company 70% owned by Mitsubishi Corporation and 30% by Zuari Industries Ltd, acquired a 30% interest in Fosfatos from Pacasmayo for US$46.12 million. Zuari Industries Ltd is a major fertilizer producer in India and publicly listed on the Bombay Stock Exchange. Cementos Pacasmayo will retain management control of Fosfatos. In connection with the transaction, Mitsubishi entered into a long-term supply agreement to purchase all of Fosfatos' production of phosphorus ore after satisfying local market demand. Approximately half of such production will be resold by Mitsubishi to Zuari. The transaction closed on December 29, 2011.

10-18-2011

Fairfield Sentry Cases Stayed

The Firm represents multiple defendants facing "claw back" and related claims brought by the B.V.I. liquidators of Fairfield Sentry, a so-called Madoff feeder fund. On October 18, 2011, Judge Lifland of the Southern District Bankruptcy Court stayed the claims pending resolution in the B.V.I. of certain issues.

12-01-2010

Kenneth J. Stuart Publishes Article on the Resurgence of Insider Trading Prosecutions

The December 2010 issue of the IPBA Journal published the attached article by Kenneth J. Stuart called "Insider Trading and the United States Securities Laws." In the article, Mr. Stuart explores the implications of Sarbanes-Oxley on the prosecution of insider trading, concluding: "With a new weapon in the form of the Sarbanes-Oxley Act, the fight by prosecutors against insider trading has been eased."  IPBA Journal Dec 2010

10-01-2010

Becker Glynn secures dismissal of complaint by successfully enforcing arbitration clause

On behalf of a borrower, the firm obtained an order enforcing an arbitration clause that was contained in an agreement between the Firm's client and a commercial bank. The court accordingly dismissed the complaint. The Firm also defeated a subsequent application by the bank for interim relief in aid of arbitration.

08-31-2010

Becker Glynn Represents Dennis Gomes and Gomes Gaming in Casino Acquisition

The Firm represents Dennis Gomes and his company, Gomes Gaming Inc., who, together with a company controlled by Morris Bailey, a New York real estate developer, entered into an agreement to acquire Resorts Atlantic City, the oldest casino in New Jersey for million. Resorts, which comprises a 942-room hotel, a nightclub, several restaurants and cocktail lounges, a 1,250-seat theater and 100,000 square feet of gaming space, opened in 1978 and was previously owned by entertainer Merv Griffin, among others.

07-02-2010

Becker Glynn bolsters bankruptcy practice by adding Alec Ostrow

Becker Glynn is pleased to announce that Alec Ostrow has joined the firm as a partner. Mr. Ostrow concentrates his practice in bankruptcy, corporate reorganization, and creditors' rights. Mr. Ostrow has served as lead counsel for many businesses that successfully reorganized in chapter 11 or in out-of-court restructurings, as well as lead counsel for buyers and sellers, trustees, and officers and directors of distressed business in such industries as telecommunications, pharmaceuticals, health care, insurance, real estate, reprographics, oil and gas, retail, steel manufacturing, home furnishings, construction, demolition, consumer products, and the record industry. He has also represented banks and insurance companies as creditors in major bankruptcy cases such as Lehman Brothers, Adelphia Communications and Enron, as well as foreign representatives in cross-border cases involving reinsurance and financial services. As a trial lawyer in bankruptcy litigation, Mr. Ostrow has won multiple judgments recovering tens of millions of dollars, and has successfully defended individuals and institutions against claims asserted by debtors, trustees and creditors' committees. A prolific author and frequent speaker on bankruptcy-related topics, Mr. Ostrow presents to numerous associations, including the American Bar Association and the New York State Society of Certified Public Accountants, and has served as panelist for the American Bankruptcy Institute, the Judicial Conference of the Second Circuit and the National Association of Bankruptcy Trustees. Since 1999, Mr. Ostrow has been an adjunct professor of law at St. John's University School of Law in the LL.M. in Bankruptcy Program. In 2004, he was elected a fellow of the American College of Bankruptcy. In 1996, he became a member of the panel of mediators for the Bankruptcy Court for the Southern District of New York. Mr. Ostrow also served for eight years as co-chair of the Real Estate Committee of the American Bankruptcy Institute, and has served for several years on the Institute's Advisory Committee for the New York City Bankruptcy Conference. Mr. Ostrow has been recognized as a New York Super Lawyer from 2006 through 2009 by being selected by his peers as among the top 5 percent of lawyers in the state.

05-24-2010

Chester Salomon speaks on bankruptcy basics for financial reporters

On May 24, 2010, Chester Salomon spoke at an American Bankruptcy Institute program at the New York City Bankruptcy Conference. Mr. Salomon, along with other bankruptcy lawyers, addressed new and veteran financial reporters about bankruptcy basics.

04-30-2010

Becker Glynn represents International Finance Corporation and Corporación Andina de Fomento in Financing of Refurbishment of Container Terminal inside Colombia's Third Largest Port

The Firm served as international transaction counsel to International Finance Corporation (IFC), the private sector arm of the World Bank Group, and Corporación Andina de Fomento (CAF), in connection with a $33,500,000 long-term financing to Santa Marta International Terminal Company S.A. (SMITCO) that was concluded in April 2010, for the refurbishment of a container terminal inside the Port of Santa Marta. The Port of Santa Marta is located on the Caribbean coast and is Colombia’s third largest port. The Firm's representation of IFC and CAF included advice and assistance during negotiations, drafting of the loan agreements and related security documentation for each lender and coordinating closing of the transaction with the lenders' counsel based in Colombia.

04-30-2010

Becker Glynn represents International Finance Corporation in Million Financing of Capital Expansion Program of Corporación Aeroportuaria del Este, S.A. in the Dominican Republic

The Firm served as international transaction counsel to International Finance Corporation (IFC), the private sector arm of the World Bank Group, in connection with a million long-term financing to Corporación Aeroportuaria del Este, S.A. (CAE), for certain expansions and repairs at the Punta Cana International Airport located on the east coast of the Dominican Republic. The initial closing of the transaction occurred in spring, 2010. The Firm's representation of IFC included advice and assistance during negotiations, drafting of the loan agreements and coordinating certain aspects of the local security arrangements with IFC's Dominican counsel and a Dominican co-lender to the project related documentation for each lender.

03-31-2010

Firm defeats attempt to certify class action against European client

Plaintiffs filed a federal class action complaint against one of the firm's European clients alleging multiple breaches of contract. Damages in excess of 0 million were claimed. On March 31, 2010, Magistrate Judge George Yanthis issued a report and recommendation to deny the plaintiffs' application to certify the class. Objections to the recommendation are now pending.

02-13-2010

Chester Salomon Presents Recent Developments in American Bankruptcy Law to the Insolvency Cooperation Partners Conference in Sao Paolo

Chester Salomon Presents Recent Developments in American Bankruptcy Law to the Insolvency Cooperation Partners Conference in Sao Paolo.

05-18-2009

Firm secures emergency restraining order to prevent defendant from transferring assets

After winning summary judgment on behalf of an Austrian client with an indemnification claim against a New York corporation, the firm immediately applied, ex parte, for an order restraining the New York corporation from transferring any assets while the case continues. The application was granted by the Supreme Court of the State of New York.

05-13-2009

Becker Glynn fights off application for interim relief

The firm represents a domestic corporation involved in an arbitration with its liability insurance carrier. For the second time in a row, the firm was able to defeat the application by the insurer for interim relief that would have required the client to post significant security.

05-08-2009

Becker Glynn wins summary judgment on Austrian client's indemnification claim

The firm represented an Austrian manufacturing company, which was sued in New York, along with a codefendant, based on allegations of products liability. After securing a favorable settlement of the plaintiff's claims against the company, the firm secured summary judgment against the codefendant for indemnification. The summary judgment required the codefendant to reimburse the client for the amounts paid in settlement plus legal fees paid in defense of the action.

05-08-2009

Becker Glynn pursuades court to void client's restrictive covenant

A domestic client of the firm hired an employee formerly employed by the client's competitor. The employee's agreement with his fomer employer contained a restrictive covenant, including a non-competition clause. The former employer sued the firm's client and its new employee for breaching those covenants. We successfully moved for summary judgment and secured a ruling that the restrictive covenant and non-competition clause were void as against public policy.

05-08-2009

Becker Glynn secures consent order for WebMD that prohibits a competitor from using WebMD confidential information

On May 8, 2009, Justice Ramos of the Supreme Court for the State of New York signed a consent order prohibiting a competitor of WebMD from using WebMD's confidential information.

04-01-2009

Kenneth J. Stuart bolsters firm's federal securities practice

The firm is pleased to announce that Kenneth J. Stuart has joined the Firm as Of Counsel.  Mr. Stuart will lead the firm's federal securities law group.  Previously, Mr. Stuart was a partner at Gilbert Segall and Young LLP and Executive Vice President, Secretary, and General Counsel at ORIX USA Corporation.  More recently, Mr. Stuart was Senior Counsel at the New York office of Holland & Knight LLP.

03-01-2009

Chester B. Salomon to head Becker Glynn's bankruptcy and creditors' rights group

The firm is pleased to announce that Chester B. Salomon has joined the Firm as Of Counsel. Mr. Salomon will lead the Firm's bankruptcy and creditors' rights group. Previously, Mr. Salomon was senior partner of Salomon Green & Ostrow P.C. and, between 2005 and this month, was a shareholder and counsel to Stevens & Lee's New York office.

03-01-2009

Becker Glynn Represents Innovest Strategic Value Advisors in Sale to RiskMetrics Group

The firm represented Innovest Strategic Value Advisors, a leading provider of sustainability research for the institutional investment community, in a sale of the company to RiskMetrics Group. RiskMetrics is a NYSE-listed provider of risk and corporate governance services to participants in the global financial markets.

Innovest, established in 1995 with the mission of integrating sustainability and finance by identifying non-traditional sources of risk potential for investors, specializes in analyzing companies' performance on environmental, social, and strategic governance issues. The acquisition by RiskMetrics brings together two established firms with deep expertise in the newly emerging field of climate governance and carbon finance.

02-18-2009

Becker Glynn permanently enjoins arbitration proceeding

A insurer brought an arbitration against one of the firm's domestic clients.  The firm was able to preliminarily, and then permanently, enjoin the arbitration against several parties.

01-12-2009

Becker Glynn represents Good Energies in Indian solar investment

Becker Glynn represented lead investor Good Energies Foundation in its recent investment in SELCO, an Indian company that provides solar power to underserved communities in rural India.  Please see the attached press release for more information.

01-01-2009

Bonnie R. Klugman elected to the firm's partnership

The Firm is pleased to announce that the partnership has elected Bonnie R. Klugman to be a partner in the Firm. Ms. Klugman, formerly counsel to the Firm, will continue her practice in the area of executive compensation and employment law.

09-16-2008

Becker Glynn Represents DEG and FMO in $90 Million Financing of Forestry Assets in Argentina

The Firm served as international transaction counsel to DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) and the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) in connection with a $90 million credit facility to Celulosa Argentina S.A., a leading Argentine company engaged in the production of pulp and paper. The date of the initial closing was August 13, 2008. Celulosa Argentina S.A. is one of the largest pulp and paper producers in Argentina and with the financing was seeking, among other things, to integrate its scope of business by purchasing forestry related assets. The Firm's representation of DEG and FMO during the transaction included advice and assistance during the due diligence process and the drafting and negotiation of the loan agreement and related documents. The Firm also assisted DEG and FMO in coordinating the Argentinean legal aspects of the transaction with Argentine counsel to the lenders and the borrower.

09-04-2008

Derivative claims dismissed by Delaware Court of Chancery

The Delaware Court of Chancery dismissed with prejudice all claims against our clients, directors and majority of shareholder of a holding company, based on the plaintiffs' misconduct and lack of derivative standing.  The plaintiffs were minority shareholders who had alleged direct and derivative claims of breach of fiduciary duty and misappropriation of corporate opportunity.  The firm acted as co-counsel with Wilmer Cutler Pickering Hale and Dorr LLP.

08-26-2008

Stephen P. Buhofer publishes article in the Swiss Review of International and European Law

'Stephen P. Buhofer’s article, "Structuring the Law: the Common law and the Roman Institutional System," discusses important differences between the U.S. and continental European legal regimes. Mr. Buhofer, who was educated in Switzerland, is an associate in the firm’s corporate department. Structuring the Law

08-01-2008

Firm successfully invokes special committee report to dismiss derivative claims

Becker Glynn, representing the Special Committee of the Board of Directors of a technology company, secured the dismissal of derivative claims filed by a minority shareholder and former officer and director of the company, seeking damages based on alleged breaches of fiduciary duty, fraud and misappropriation of corporate opportunity.  The Court, applying the Zapata standard, found that the Special Committee had acted independently and in good faith in concluding that the claims should not be pursued, and agreed with the Special Committee's recommendation that the claims should be dismissed.

05-14-2008

Becker Glynn Secures Temporary Restraining Order and Preliminary Injunction for WebMD LLC

The firm secured a temporary restraining order for its client, WebMD LLC, which runs a health-related website.  The TRO prohibited two former employees of WebMD from performing any services for their new employer, Waterfront Media Inc., a competing health-related web site.  The temporary restraining order was followed by a preliminary injunction.  The matter was subsequently settled.

04-30-2008

Becker Glynn Wins Summary Judgment in Federal Class Action Securities Fraud Case After Successfully Precluding Plaintiffs' Expert Witness

On April 25, 2008, Judge Rya Zobel of the United States District Court for the District of Massachusetts granted our clients' motion to preclude the testimony of the plaintiffs' expert witness in a trial scheduled to begin the same week.  The court, after delaying the trial in order to conduct an evidentiary hearing, agreed with our position that the plaintiffs' expert's methodology was unreliable and inadmissible under the Daubert standard.  The following week, Judge Zobel reconsidered and granted our clients' motion for summary judgment based on the plaintiffs' inability to proceed without expert testimony.  The entire case was dismissed with prejudice.  The firm acted as co-counsel with Wilmer Cutler Pickering Hale and Dorr LLP

01-01-2008

Patrick O'Brien is Elected Partner

The Firm is pleased to announce that the partnership has elected Patrick O'Brien to be a partner in the Firm, effective January 1, 2008.

12-05-2007

Becker Glynn Secures Dismissal of Fraud Claims

A Swiss client of the firm was sued in federal court for fraud in connection with its sale of a complex financial product.  The fraud claims carried with them a threat of punitive damages.  The firm filed a pre-answer motion to dismiss, contending that the fraud claims were merely  contract claims dressed up to look like fraud.  The court agreed, dismissing the fraud claims and forcing the plaintiffs to proceed only on their contract claims.

11-01-2007

Becker Glynn represents Cementos Pacasmayo S.A.A., a publicly traded Peruvian corporation, in $100 million sale of North American industrial minerals assets

Becker Glynn represented Cementos Pacasmayo S.A.A. in two transactions involving the sale of substantially all of the assets of Zemex Corporation, a North American industrial minerals company.  In the first transaction, completed in September 2007, Zemex Corporation sold all of the stock of its wholly-owed subsidiary, The Feldspar Corporation, to the U.S. subsidiary of a French industrial minerals company.  In the second transaction, completed in November 2007, the remaining active subsidiaries of Zemex Corporation sold their mica and other mineral assets to a North American industrial minerals company.  The combined purchase price for the two transactions exceeded US$100 million.

10-29-2007

Founding Partner Joseph Becker Publishes Article in The National Law Journal

In another in a series of important articles about the President and his constitutional powers, Mr. Becker's piece, "Exercises in Overkill," examines the use by President Bush of so-called "signing statements." you can find the article on the website for The National Law Journal.

10-05-2007

Becker Glynn Defeats Motion For Preliminary Injunction

A domestic client of the firm hired a former employee of one of its competitors. The competitor sued the client, claiming that the employee had stolen trade secrets and was in breach of his employment contract. The firm successfully avoided expediated discovery and, at a hearing in the Commercial Division of the New York Supreme Court, defeated the competitor's emergency motion for a preliminary injunction. The firm subsequently won summary judgment holding that the plaintiff had failed to show that protected trade secrets were involved.

09-01-2007

Becker Glynn provides opinion to Brazilian bank for use in litigation

When a Brazilian bank was sued in Brazil in connection with a contract governed by New York law, the Brazilian bank turned to Becker, Glynn to provide a legal opinion about the contract's enforceability. The firm opined that the contract was unenforceable under New York law, and the parties were able to settle the dispute in a manner favorable to the firm's client.

08-17-2007

Becker Glynn Represents FMO and DEG in $30 Million Equity Investment in Honduran Bank

The Firm represented International Finance Corporation (IFC), the private sector arm of the World Bank Group, in connection with the successful placement by Mexico's Banco Compartamos and its shareholders of $467 million in Series O shares, representing the bank's social capital. IFC is the third-largest shareholder in Banco Compartamos. The transaction was the first of its kind in Mexico and the largest in the microfinancing sector. The Firm's representation of IFC included providing advice and assistance during negotiations and review of relevant documentation in connection with the share placement.

07-18-2007

Becker Glynn represents International Finance Corporation in a $550 Million Financing of Oil and Gas Producer in Argentina

The Firm represented International Finance Corporation (IFC), the private sector arm of the World Bank Group, in connection with a $550 million long-term financing of Pan American Energy LLC, Argentine Branch (PAE) that was concluded in July 2007. The financing is comprised of two tranches of loans: a $150 million tranche provided by IFC and a $400 million tranche raised by IFC from commercial lenders. PAE, a joint venture company between BP plc and Bridas Corporation, is the second-largest oil and gas producer in Argentina, accounting for approximately 17% of the country's output. The loans provided by IFC will be used by PAE to finance its capital expenditure program, which is primarily focused on its operations in the Golfo San Jorge basin in southern Argentina. The Firm's representation of IFC included advice and assistance during negotiations and review and re-drafting of the loan agreement and related documentation.

05-09-2007

Becker Glynn represents International Finance Corporation in $21 Million Financing of Cruise Ship Terminal Expansion in Dominican Republic

The Firm represented International Finance Corporation (IFC), the private sector arm of the World Bank Group, in connection with a $21 million long-term financing of Sans Souci Ports, S.A. (Sans Souci) that was concluded in May 2007. The loan provided by IFC will be used by Sans Souci to renovate and expand the existing infrastructure at the Sans Soucí and Don Diego cruise ship terminals in Santo Domingo, Dominican Republic. The Firm's representation of IFC included advice and assistance during negotiations and drafting of the loan agreement and related documentation.

04-25-2007

Becker Glynn Represents International Finance Corporation in Connection with Successful Placement of Shares on the Market by Banco Compartamos of Mexico

The Firm represented International Finance Corporation (IFC), the private sector arm of the World Bank Group, in connection with the successful placement by Mexico's Banco Compartamos and its shareholders of $467 million in Series O shares, representing the bank's social capital. IFC is the third-largest shareholder in Banco Compartamos.   The transaction was the first of its kind in Mexico and the largest in the microfinancing sector.   The Firm's representation of IFC included providing advice and assistance during negotiations and review of relevant documentation in connection with the share placement.

02-20-2007

Becker Glynn secures court order prohibiting disclosure of trade secrets

On behalf of a U.S. based client, the Firm filed an action in New York Supreme Court to prevent the theft of trade secrets by a competitor of the client.  After filing the complaint, the Firm negotiated a settlement agreement that included an order from the court prohibiting the competitor from using the client's confidential information.

02-14-2007

Becker Glynn Represents Group of Lenders in $20.8 Million of Loans to Digicel Group's Samoan Operations

The Firm served as international transaction counsel to International Finance Corporation (IFC), the Netherlands Development Finance Company (FMO) and Westpac Bank Samoa Limited in their joint loans totaling $20.8 Million to Telecom Samoa Cellular Limited (TSCL) and its corporate parent Digicel (Samoa) Limited (DSL). The transaction closed in February, 2007. TSCL and DSL are members of the Digicel group, an international provider of GSM telecommunications services with operations in twenty-two countries throughout Latin America and the Caribbean. The Firm has represented IFC in several other debt and equity investments in Digicel companies in other jurisdictions. The loans are to be used for the partial financing of the acquisition and nationwide build-out of a GSM digital mobile telephony network in Samoa. The Firm's representation of IFC, FMO and Westpac Bank Samoa Limited included advice and assistance during negotiations, drafting of a common terms agreement, separate loan agreements for each lender and related documentation, and assisting Samoan counsel in the creation of local components of the security.

01-29-2007

The National Law Journal publishes Joseph Becker's article on Hamdan v. Rumsfeld and the new Military Commissions Act

In his article for the National Law Journal, Mr. Becker takes on the Military Commissions Act, which purports to prohibit federal judges from issuing writs of habeas corpus to aliens like Salim Hamdan, the captive of the Afghan war held at Guantanamo Bay, Cuba.  Among other reasons, Mr. Becker contends that the Military Commissions Act violates Article I of the U.S. Constitution by improperly suspending the writ. The full article is available at >

01-22-2007

Bonnie Klugman joins Becker Glynn as Of Counsel

The Firm is pleased to announce that Bonnie Klugman has become Of Counsel to the firm. Ms. Klugman's practice focuses on executive compensation and employment, including incentive compensation (both cash-based and equity-based), employment and severance agreements, employee relations and discrimination, welfare benefits and 401(k) plans, reductions in force, and restrictive covenants. Ms. Klugman also has substantial experience in managing the defense of employment litigation in multiple jurisdictions. Additionally, she regularly handles employee related issues arising out of corporate transactions (mergers and acquisitions, initial public offerings) and corporate governance matters. Her extensive experience includes advising clients on the securities, labor and employment, corporate, ERISA and tax implications of these plans and arrangements.

From June 1999 through April 2005, Ms. Klugman was the Vice President-Employment Counsel for WebMD Corporation where she was responsible for all legal aspects of the employee-employer relationship. She helped develop WebMD’s employee philosophy and analyzed its strategic implications.

Prior to WebMD, Bonnie worked at the New York office of Shearman & Sterling from 1989 through 1999. She started her career in the Corporate Group focusing in the areas of bank finance, mergers and acquisitions, and bankruptcy before moving to the Executive Compensation and Benefits Group in 1993, becoming Counsel in 1999.

Ms. Klugman received a B.S from Cornell University, School of Industrial and Labor Relations, in 1986 and a J.D. from Benjamin N. Cardozo School of Law (cum laude) in 1989. She was Business Editor of the Law Review and published “Employee Theft and ERISA: A Proposed Amendment to Garnish Pension Benefits” in October 1988. Ms. Klugman is admitted to practice in New York and is a member of the American Bar Association and its Labor and Employment Section.

05-29-2006

Founding partner Joseph Becker publishes National Law Journal article questioning constitutionality of NSA surveillance

In this important article, entitled "The Presidency, What Inherent Power?," Mr. Becker contends that Article II of the U.S. Constitution does not grant to the presidency the authority President Bush has claimed for himself in authorizing certain record collection endeavors by the National Security Agency. "'Inherent' presidential authority engages a very unstable principle," Mr. Becker argues. "There are doubtless some such powers buried in Article II. But the inherency principle is unprincipled; it conduces to opportunism, attributing powers when convenient, without roots in the text or history of Article II."  President Bush "may be George," Mr. Becker concludes, "but he's not George III."  What inherent power?

05-26-2006

Becker Glynn defeats petition to stay arbitration

The firm initiated an arbitration on behalf of a U.S. client against a Hong Kong corporation. The arbitration concerned three contracts between the parties. One of the contracts lacked an arbitration clause. The Hong Kong corporation filed a petition in the Supreme Court for the State of New York to stay that part of the arbitration that related to the contract without an arbitration clause. The firm successfully argued that the three contracts were sufficiently related to be covered by the arbitration clause in the main agreement. The Supreme Court, in a ruling highlighted by the New York Law Journal, denied the petition and ordered an arbitration of all claims.

02-27-2006

Becker Glynn achieves dismissal of contract claims based on an innovative application of res judicata

After the firm won a jury trial in federal court on behalf of a European client, new plaintiffs brought an identical action. The firm argued that the new plaintiffs, although not parties to the first case, were sufficiently connected with it to bar the suit. Applying the concept of "virtual representation," the court accepted the firm's arguments and dismissed the action.

02-15-2006

Becker Glynn finalizes complex settlement of national products liability cases

A Dutch client faced hundreds of products liability cases from the sale of an over-the-counter medication throughout the United States. After the lead co-defendant entered bankruptcy, the firm's client and the other defendants entered into an innovative global (non-class action) settlement with plaintiffs, valued at over 0 million, by which all future claims would be barred through a special injunction in the bankruptcy court. Working with Dutch counsel, the firm was also able to secure insurance coverage for most of the client's liability in the settlement.

01-27-2006

Becker Glynn dismisses multi-million dollar derivative claim

A derivative action was brought against the firm's corporate client and its directors. In the first phase of the litigation, the firm's litigators successfully stayed the derivative claims pending a resolution of the client's defense that the plaintiff was not a shareholder, and thus not entitled to bring the action. Although the trial court later ruled that the plaintiff was a shareholder of the client, and could proceed with the derivative action, the firm was able to secure a reversal of that decision at the appellate level. The appellate court dismissed the plaintiff's claim of share ownership and related derivative claims.

01-26-2006

Becker Glynn compels insurers to fund client's defense in Australian litigation

The Firm obtained a court order requiring various insurers immediately to fund the defense costs a client is incurring in connection with law suits proceeding in Australia. The client, a former director of a Bermuda company facing a liquidation proceeding in Australia, is covered by directors' and officers' liability insurance. When the insurers failed to pay defense costs, the Firm brought a claim in New York and the court ruled that the insurers must pay pending a final adjudication of their claim to rescind the policy.

09-19-2005

Firm successfully narrows discrimination case by knocking out claims on summary judgment

A domestic client of the firm was sued for religious and age discrimination. On summary judgment, the firm successfully argued that the plaintiffs' claims for age discrimination and hostile work environment must be dismissed prior to trial.

08-08-2005

Becker Glynn secures dismissal of multi-million dollar federal class action

The Firm successfully moved to dismiss a multi-million dollar class action brought in federal court against a European financial company. Some 7,000 plaintiffs asserted discrimination claims against one of the firm's European clients. After successfully changing the venue of the case from the Eastern to the Southern District of New York, the firm filed motion for summary judgment on the ground that plaintiffs had failed to comply with the applicable statute of limitations. In a ruling by Judge Colleen McMahon, the district court dismissed the discrimination claims with prejudice. The case was related to a prior action brought by 30 plaintiffs against the same European client. In that case, the firm secured a verdict for the client after a two-week jury trial in federal court.

07-31-2005

Becker Glynn represents International Finance Corporation in $250 Million Financing of Oil and Gas Producer in Argentina

The Firm served as international transaction counsel to the Netherlands Development Finance Company (FMO) in connection with a $20 million credit facility to Fábrica Carioca de Catalisadores S.A. (FCC) that was concluded in May 2005.  The $20 million loan from FMO is composed of a $10 million "A" loan for FMO's account and a $10 million "B" loan funded by the participation of Abn Amro Bank N.V., a Dutch bank. FCC is a Brazilian technology company that produces and provides solutions in catalysts and additives for the oil refining industry.  FCC is a joint venture of Petrobras (through Petroquisa, its petrochemicals subsidiary), the Brazilian state oil company, and Albemarle Corporation, a specialty chemicals company listed on the New York Stock Exchange.  The credit facility will be used by FCC to expand its catalyst production capacity by the installation of new technology at its production facilities in the State of Rio de Janeiro, Brazil. The Firm's representation of FMO during the transaction included advice and assistance during negotiations, drafting of the loan agreement and related documentation and assisting Brazilian counsel with the creation of an offshore account receivables structure to provide security for the loan.

05-31-2005

Becker Glynn represents Netherlands Development Finance Company in $20 Million Loan to Brazilian Refining Technology Company

The Firm served as international transaction counsel to the Netherlands Development Finance Company (FMO) in connection with a $20 million credit facility to Fábrica Carioca de Catalisadores S.A. (FCC) that was concluded in May 2005.  The $20 million loan from FMO is composed of a $10 million "A" loan for FMO's account and a $10 million "B" loan funded by the participation of Abn Amro Bank N.V., a Dutch bank. FCC is a Brazilian technology company that produces and provides solutions in catalysts and additives for the oil refining industry.  FCC is a joint venture of Petrobras (through Petroquisa, its petrochemicals subsidiary), the Brazilian state oil company, and Albemarle Corporation, a specialty chemicals company listed on the New York Stock Exchange.  The credit facility will be used by FCC to expand its catalyst production capacity by the installation of new technology at its production facilities in the State of Rio de Janeiro, Brazil. The Firm's representation of FMO during the transaction included advice and assistance during negotiations, drafting of the loan agreement and related documentation and assisting Brazilian counsel with the creation of an offshore account receivables structure to provide security for the loan.

05-06-2005

Becker Glynn enjoins former employees of broker-dealer from transplanting business unit to competitor

The Firm brought a lawsuit against two former employees of a U.S.-based broker-dealer, both of whom had left to start a directly competing business at a competitor. After successfully obtaining a temporary restraining order against the employees and a consent decree with the competitor, the parties conducted an expedited NASD arbitration before a three-person panel, which enjoined the employees from starting a competitive business unit.

04-05-2005

Becker Glynn permanently enjoins arbitration

After a dispute arose concerning a stock purchase agreement, an arbitration was commenced against one of the Firm's U.S. based clients. Although the stock purchase agreement contained an arbitration clause, the Firm successfully argued that the dispute was beyond its scope. The Firm achieved an emergency restraining order and subsequently enjoined the arbitration permanently.

03-03-2005

Firm defeats class action claim; plaintiffs must proceed individually

A derivative action was brought against the Firm's corporate client and its directors. In the first phase of the litigation, the Firm's litigators successfully stayed the derivative claims pending a resolution of the client's defense that the plaintiff was not a shareholder, and thus not entitled to bring the action. Although the trial court later ruled that the plaintiff was a shareholder of the client, and could proceed with the derivative action, the Firm was able to secure a reversal of that decision at the appellate level. The appellate court dismissed the plaintiff's claim of share ownership and related derivative claims.

02-28-2005

Becker Glynn represents Export Development Canada and International Finance Corporation in $100 Million Dominican Airport Financing

The Firm represented Export Development Canada (EDC) and International Finance Corporation (IFC), the private sector arm of the World Bank Group, as international transaction counsel in connection with a $100 million long-term credit facility to Aeropuertos Dominicanos Siglo XXI, S.A. (Aerodom) that was concluded in February 2005. The credit facility consists of a $60 million loan from IFC, composed of a $45 million "A" loan for IFC's account and a $15 million "B" loan funded by the participation of Caja de Ahorros del Mediterraneo, a Spanish bank, and a $40 million separate loan from EDC. Aerodom, a Dominican company, manages six airports in the Dominican Republic. The financing provided by IFC and EDC will be used by Aerodom in the upgrade and expansion of the airports under its management, as well as in the construction of an additional international airport in the Dominican Republic. The Firm's representation of EDC and IFC included advice and assistance during negotiations, drafting of the loan agreements and related documentation, creation of the offshore receivables account for security purposes and assisting Dominican counsel in the creation of the local components of the security.

12-31-2004

Becker Glynn represents International Finance Corporation in $70 Million Financing of Hotel Company in the Dominican Republic

The Firm represented International Finance Corporation (IFC), the private sector arm of the World Bank Group, as international transaction counsel in connection with $70 million long-term credit facilities to a hotel group located in the Dominican Republic that were concluded in December 2004. The main credit facility – provided to Occidom B.V. and certain other Occidental hotel group companies involved in Dominican hotel operations - consisted of a $50 million loan, composed of a $10 million "A" loan for IFC's account and a $40 million "B" loan funded by the participation of a number of Spanish banks. A separate $20 million "C" loan was made by IFC to Occidental Hotels Management, B.V., the Dutch holding company for the Occidental hotel group. The financing provided by IFC is to be used by the group to re-capitalize three existing hotels in the Dominican Republic, as well as to refurbish and upgrade one of the three hotels. The Firm's representation of IFC during the transaction included advice during negotiations, drafting of the loan agreements and related documentation, and creation of an offshore escrow account for the repayment of existing lenders and release of related security. The Firm also worked closely with counsel in the Dominican Republic to establish the security for the loans, including mortgages and security interests in other collateral located in the Dominican Republic.

12-31-2004

Becker Glynn represents Inter-American Development Bank and Netherlands Development Finance Company in $30 Million Trade Finance Facility for Latin America

The Firm served as international transaction counsel to the Inter-American Development Bank (IDB) and the Netherlands Development Finance Company (FMO) in connection with a $30 million credit facility to Latin America Export Finance Fund Ltd. that was concluded in December 2004. IDB and FMO each provided loans of $15 million. Latin America Export Finance Fund Ltd., a Cayman Islands company, is managed by Crecera Finance Company LLC, a U.S. investment manager. The credit facility will be used to provide trade financing to exporters in Argentina, Brazil and Peru and potentially other countries in Latin America. The Firm's representation of IDB and FMO during the transaction included advice and assistance during the due diligence process and negotiations, drafting of the loan agreements and related documentation and creation of an offshore account structure to provide security for the loans. The Firm also advised the lenders on the corporate structuring of the borrower and its related entities and, with counsel in Argentina, Brazil and Peru, the structuring of the borrower's trade financing operations in each of those countries.

12-22-2004

Becker Glynn protects trade secrets of health care technology company from competitor

The Firm successfully obtained a temporary restraining order against the competitor and two former employees of an international client specializing in health care technology. The restraining order prevented the competitor and employees from using the client's trade secrets and other confidential information such as customer lists. All issues were settled shortly thereafter.