DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Assists Eatable Adventures in the Launch of FoodSeed, an Accelerator for Agribusiness Start-ups
March 8, 2023
Read time: 3 min
International law firm McDermott Will & Emery advised Eatable Adventures, one of the leading specialized accelerators in the food sector, on a strategic partnership with CDP Venture Capital to launch FoodSeed, an accelerator for start-ups in the FoodTech and AgriTech markets.
FoodSeed will be part of the CDP National Accelerator Network, a network present throughout the country to promote and support the growth of young companies specialising in high-potential markets.
With an endowment of more than EUR 15 million for investments and subsequent growth, FoodSeed will foster the implementation and development of companies operating in Agrifood Tech, with the aim of growing one of the most important innovation ecosystems in Italy in the area of sustainable agriculture and food & beverage.
The programme envisages the selection every year, for three years, of up to 10 Italian or international start-ups that intend to set up in the local market, supporting them at the seed and pre-seed stage in developing new approaches and services including the automation of production processes, new ingredients and ways of achieving sustainable agriculture, innovative digital sales models and packaging.
Fondazione Cariverona and UniCredit are also part of the strategic partnership.
The team of Curtis, Mallet-Prevost, Colt & Mosle assisted CDP and was coordinated by Carmine Gravina, Teresa Prudente and Attilio Valguarnera together with the in-house legal team consisting of Gabriele Petrini and Head Alessandro di Gioia.
The McDermott Will & Emery team assisting Eatable Adventure was led by partner Ettore Scandale, head of McDermott’s Italian corporate practice, and Stefano Pardini, associate.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Represents AUA Private Equity Partners and Raymundo’s Food Group in its Sale of Desi Fresh Foods
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents AUA Private Equity Partners and Raymundo’s Food Group in its Sale of Desi Fresh Foods
March 8, 2023
Read time: 3 min
International law firm McDermott Will & Emery represented AUA Private Equity Partners LLC and its portfolio company, Raymundo’s Food Group, LLC, in the sale of Desi Fresh Foods, the leading producer of dahi, or South Asian yogurt, and lassi, a drinkable south Asian yogurt, to ICV Partners, LLC, an investment firm focused on lower middle market companies in business services, consumer goods & services, food & beverage and healthcare.
The McDermott deal team was led by Laurence Bronska and Jarrett Szczesny and included Nick Greiner, Garrett Moores, Christopher Lahiff, Greg Heltzer, Ty Carson, Daniel Zucker, Richard Call, Gary Rosenbaum, Kristine Suh, Kay Kim, Brian Mead, Jennifer Mikulina, Ellie Atkins, Sarah Engle, Nick Paul, Jennifer Hill, David Saunders, David Neville, Mark Bilut and Heili Kim.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Comment | 80 per cent Drop in Prosecution of Tax Evasion Enablers
PRESS RELEASE
McDermott Comment | 80 per cent Drop in Prosecution of Tax Evasion Enablers
March 8, 2023
Read time: 4 min
Simon Airey, white-collar partner and Sarah Gabbai, tax counsel at international law firm McDermott Will and Emery, said:
“Despite the low take up by HMRC of prosecutions for enabling tax evasion, corporates cannot afford to be complacent about the UK statutory offences of failing to prevent the facilitation of tax evasion that were introduced in 2017. Though there are only nine live investigations, HMRC has announced it has a further 26 investigation opportunities under review and – partly inspired by adverse media reporting – it will be keen to demonstrate success. There is also currently a broader focus on corporate criminal responsibility in the UK, with the Law Commission having released a paper on reforming the law in this area and various legislative proposals in train to expand the categories of available offences.
The existing corporate offences of failing to prevent the facilitation of tax evasion essentially impose a form of strict liability on corporates in relation to the actions of their ‘associated persons’ such as employees, agents and intermediaries. The offences relate to the evasion of both UK and foreign taxes, and the fines that can be imposed are unlimited. The good news is that there is a complete defence in law, providing it can be shown that “reasonable prevention procedures” were in place at the relevant time – in other words, a tailored compliance programme. Companies and partnerships would therefore be wise to factor into their annual compliance budget the cost of conducting an appropriate risk assessment and designing appropriate policies and procedures. Related training, due diligence, monitoring and review are also essential – and there is a real focus on assessing board level engagement in terms of culture, governance and making sure that sufficient resources are made available. The authorities are very astute to policies that merely pay lip service to the legislation, or are not properly implemented or communicated. The risk of blow-back for senior management is therefore significant.
HMRC is well aware of the deterrent effect of prosecuting professional enablers and those who fail to prevent the facilitation of evasion. Having publicly stated its policy of targeting such persons, the current statistics which suggest a drop off can largely be ignored. There is no lack of resolve on the part of MRC, or the Crown Prosecution Service, and it is only a matter of time before the headlines tell a different story.”
Media Contact
McDermott Advises The International Federation Of Red Cross And Red Crescent Societies On Innovative Insurance Structure For The Disaster Response Emergency Fund
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises The International Federation Of Red Cross And Red Crescent Societies On Innovative Insurance Structure For The Disaster Response Emergency Fund
March 7, 2023
Read time: 3 min
McDermott Will & Emery provided preliminary legal advice to the International Federation of Red Cross and Red Crescent Societies (IFRC) in relation to an innovative insurance product to expand the capacity of its Disaster Response Emergency Fund (DREF).
Established in 1985, the DREF has proved to be a fast, reliable and simple way to provide access to international short-term emergency funding for community action in all kinds of disasters around the world. Since its launch, the DREF has funded thousands of emergency responses worldwide and supported more than 210 million people.
The proposed insurance policy will replenish DREF funds for natural hazards – so that when DREF’s allocations in responding to disasters in ODA (Overseas Development Assistance) countries exceeds a pre-determined amount, the insurance policy would top up DREF’s funds. This allows the IFRC to leverage the contributions of donors to increase the capacity of the DREF by harnessing commercial insurance underwriting through a public-private partnership.
The International Federation of Red Cross and Red Crescent Societies (IFRC) is a worldwide humanitarian aid organization that reaches 160 million people each year through its 192-member National Societies. It acts before, during and after disasters and health emergencies to meet the needs and improve the lives of vulnerable people.
McDermott’s team was led by partners Ranajoy Basu and Andrea Best, supported by counsel Raminta Dereskeviciute with associates Ludovica Rabitti and Fausto Giacomet.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Advised Dynacure on its Merger with Flamingo Therapeutics
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advised Dynacure on its Merger with Flamingo Therapeutics
March 7, 2023
Read time: 3 min
McDermott Will & Emery advised Dynacure, a company focused on developing and commercializing novel therapies to transform the lives of patients with rare diseases who have few or no treatment options, on its cross-border merger with the Belgian company Flamingo Therapeutics, to create a leading RNA therapeutics company focused on clinical oncology.
The combined company will be named Flamingo Therapeutics and will focus on advancing Flamingo Therapeutics’ asset danvatirsen in a Phase II trial PEMDA-HN in Head & Neck cancer and IND-ready program targeting MALAT-1 (FTX-001), in oncology.
The merger leverages common synergies of Flamingo Therapeutics and Dynacure, including deep expertise in RNA-targeting and clinical drug development.
The McDermott team that advised Dynacure was composed of :
• Emmanuelle Trombe, partner, on Life Sciences aspects
• Nicolas Lafont, partner, Paul Lozniewski, Lucie Martin and Clarice Duclos, associates, on Corporate aspects
• Côme de Saint Vincent, counsel, and Paul-Henry de Laguiche, associate, on Tax aspects
• Jilali Maazouz, partner, and Nicolas Chaubet, associate, on Employment law aspects.
Media Contact
McDermott Represents The Sterling Group and Capitol Meridian Partners in Joint Acquisition of PrimeFlight Aviation Services
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents The Sterling Group and Capitol Meridian Partners in Joint Acquisition of PrimeFlight Aviation Services
March 6, 2023
Read time: 3 min
International law firm McDermott Will & Emery represents The Sterling Group, a Houston-based private investment firm, and Capitol Meridian Partners, a Washington, DC-based private investment firm, in their joint acquisition of PrimeFlight Aviation Services, a global provider of essential aircraft, passenger and security-related services to commercial airline, airport, cargo and general aviation customers, from Carlyle.
The transaction was announced on March 6, 2023 and will close upon satisfaction of customary closing conditions.
The cross-border deal team was led by Gregory Metz, Patrick Rowe and Smith Alpert and included Daniel Campbell, Stéphane Dionnet, Jed Gordon, Greg Heltzer, Jacob Hollinger, Sharon Lamb, Brian Mead, Sam Neel, Christian Rolf, Alex Ruiz, Josh Samis, David Saunders, Deniz Tschammler, Allison Wilkerson, Margaret Cremin, Alan Kashdan, Christian Marzlin, Ellie Atkins, Nicole Briody, Llewelyn Engel, Andrew Granek, Lea Hachmeister, Emily Jewell, Max Küttner, Nick Paul, Dawn Peacock, Cristina Sanchez, David Stage and Heloise Waudby.
McDermott’s private equity practice is among the top four most active PE law firms globally and in the US with more than 160 dedicated private equity lawyers in 21 locations globally. In addition to being recognized as Energy & Industrials Law Firm of the Year (Large Cap) by The Deal, Top 10 in PE Buyouts by MergerMarket and Top 10 in US Mid-Market by Bloomberg, The American Lawyer recently named McDermott Law Firm Corporate Practice of the Year: Mid/Small Cap. To learn more about our PE practice, please visit pe.mwe.com.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
Thomson Reuters Recognized 30 McDermott Attorneys as Stand-out Lawyers
AWARDS & RANKINGS / PRESS RELEASE
Thomson Reuters Recognized 30 McDermott Attorneys as Stand-out Lawyers
March 3, 2023
Read time: 3 min
CHICAGO (March 3, 2023) – International law firm McDermott Will & Emery is pleased to announce that 30 of its attorneys have been recognized as Stand-out Lawyers by Thomson Reuters.
Derived from Thomson Reuters’ Sharplegal survey and nominated by senior in-house counsel from around the world, “Stand-out Lawyers” are recognized for their high quality of work, business and commercial savvy and ability to turn legal advice into practical solutions.
Congratulations to the following lawyers on this honor:
- Bernadette M. Broccolo
- Emily Jane Cook
- Pankit J. Doshi
- David Durham
- Christian W. Fabian
- Ulrich Flege
- Elliot R. Golding
- Daniel F. Gottlieb
- Gregory E. Heltzer
- Timothy E. Hoeffner
- Henrik Holzapfel
- Stephen P. Kranz
- Oliver Lieth
- Patrick J. Martinez
- Christina L. Martini
- Alva C. Mather
- Sam Crockett Neel
- Felicia Gerber Perlman
- Vernessa T. Pollard
- Frédéric Pradelles
- Paul W. Radensky
- Monika Emilia Richter
- Richard Salgado
- Thomas Sauermilch
- Kerrin B. Slattery
- Deniz Tschammler
- Boris Uphoff
- Jonathan Wohl
- Edward G. Zacharias
- Eric Zimmerman
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
SRZ Serves as Pro Bono Counsel in The Joyce Theater’s Lease of Former Boys’ Club of New York Building
PRESS RELEASE
SRZ Serves as Pro Bono Counsel in The Joyce Theater’s Lease of Former Boys’ Club of New York Building
March 3, 2023
Read time: 3 min
Schulte Roth & Zabel served as pro bono counsel for The Joyce Theater in their recent lease of the building formerly occupied by the Boys’ Club of New York, with plans to purchase the seven-story space in Lower Manhattan. The sale is contingent upon The Joyce raising the substantial funds needed for the first phase of the renovation. The Joyce hopes the acquisition of the building will forward their commitment to artists and offer essential studio space that fosters creativity and innovation in dance and choreography.
The SRZ team includes partner Stephanie Breslow, who is on The Joyce Theater’s Board of Trustees, of counsel Gregory Pressman, and associates Cristina Giappone and Sabrina Singh.
Learn more about the deal here.
Media Contact
McDermott Expands Transactions Offering with Two Private Equity Partner Hires in Germany
PRESS RELEASE
McDermott Expands Transactions Offering with Two Private Equity Partner Hires in Germany
March 3, 2023
Read time: 4 min
International law firm McDermott Will & Emery has expanded its Transactions practice in Germany with the addition of private equity partners Holger H. Ebersberger and Hanno Witt in Munich. Holger joins McDermott as Co-Head of Private Equity Germany, leading alongside Michael Cziesla.
“I am proud to see the expansion of our Transactions group in Germany with both Holger and Hanno having an excellent reputation in the world of private equity. The new hires underline the growth trajectory of the Firm and our ambition to be one of the leading law firms in the German market,” said Harris C. Siskind, Global Head of McDermott’s Transactions Practice Group.
Holger specializes in M&A transactions as well as public takeovers and has been advising private equity funds and strategic investors for more than 15 years. He advises his clients throughout the entire investment cycle, starting with the acquisition of the company, through the portfolio phase and up to the exit. His expertise includes auction procedures, public takeovers, dual-track procedures, carve-outs and joint ventures. He focuses on digital business, TMT, life sciences and healthcare transactions.
Hanno has several years of experience in advising national and international private equity clients and strategic investors in M&A transactions. He advises clients on both the buy-side as well as the sell-side and specializes in cross-border transactions, auction processes, carve-out transactions, joint ventures and management buy-outs. Hanno has broad sector expertise, including life sciences and healthcare, industrials, infrastructure, consumer products and technology.
“With the addition of Holger and Hanno, we continue the strategic expansion of our Transactions practice in Germany,” said Dr. Jens Ortmanns, Managing Partner in Germany. “Holger and Hanno are an excellent fit for us, both professionally and personally.”
“McDermott is well known for its first-rate Transactions practice with its strong international focus and its collegiate culture across the Firm,” Holger noted. “I am excited by the opportunity to be part of the team and to work alongside the German leadership team and Michael Cziesla, jointly leading our M&A and PE practices in Germany.”
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
Media Contact
McDermott Represents Strategic Risk Solutions in Partnership with Integrum
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Strategic Risk Solutions in Partnership with Integrum
March 1, 2023
Read time: 3 min
International law firm McDermott Will & Emery acted as legal advisors to Strategic Risk Solutions (SRS), the world’s largest independent insurance company manager, in its partnership with Integrum Holdings LP, an investment firm focused on partnering with technology-enabled services companies in the financial and business services sectors. The partnership will further enhance SRS’s services within the captive insurance and alternative risk markets and allow SRS to build on its foundation of independence, quality and expertise to deepen its existing relationships, expand both geographically and in its service offerings, and more actively pursue strategic acquisitions and partnerships.
The transaction was announced on February 27, 2023 and is subject to customary closing conditions including required regulatory approvals.
The cross-border McDermott team was led by Michael Halsband along with Bob Clagg, Yuxin Jin, Inès Achour with support from Michael Byrne, John Hammond, Jeffrey Holdvogt, John Lutz, Brian Mead, Jennifer Mikulina, Sabine Naugès, David Neville, Heidi Steele, Ty Carson, Deepali Doddi, David Levine, Benoit Feroldi, Andrew Granek, Jennifer Hill, Amanda Kane and Anthony Teng.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
