Newsroom Categories: Press release

  • New Publication Provides Strategic Guidance on Employee Stock Ownership Plan Trustee’s Obligations

    PRESS RELEASE

    New Publication Provides Strategic Guidance on Employee Stock Ownership Plan Trustee’s Obligations

    July 8, 2021

    Read time: 3 min

    McDermott Will & Emery employee benefits partners Ted Becker and Allison Wilkerson have co-authored The DOL Fiduciary Process Agreements for ESOP Transactions. The book was published by the National Center for Employee Ownership as a resource for those seeking to use Department of Labor (DOL) fiduciary process agreements in ESOP Transactions.

    “Since the most recent fiduciary process agreement between the DOL and Farmers National Bank of Danville, ESOP trustees and advisors have expressed much confusion about which provisions should be followed in future ESOP transactions,” Ted, co-chair of McDermott’s ERISA Litigation Team, noted. “The analysis in this book addresses that uncertainty and provides a guide for those navigating ESOP transactions going forward.”

    As co-author, Ted drew directly on his experience representing GreatBanc Trust Company in the negotiations with the DOL that led to the original fiduciary process agreement. Allison derives her knowledge from extensive involvement handling issues pertaining to ERISA and ESOPs. Her experience includes advising an ESOP trustee on the purchase of a $270 million company consisting of a group of hospitals from an individual seller and multiple private equity warrant holders.

    The book compares the provisions in the six fiduciary process agreements, citing guidance and providing commentary drawn from ERISA, legislative history and other congressional materials, laws and regulations. Each of the 16 sections focuses on different key aspects of the fiduciary process agreements, offering valuable insights into the fiduciary process for ESOP transactions and the perspective of the DOL.

    The book is available for digital download online here.

    About Us

    McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

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  • Former SDNY Corruption Unit Chief Joins McDermott

    PRESS RELEASE

    Former SDNY Corruption Unit Chief Joins McDermott

    July 8, 2021

    Read time: 4 min

    International law firm McDermott Will & Emery announced that Edward (Ted) Diskant has joined the Firm’s New York office as a partner in its Litigation Practice. Ted is the former head of the Public Corruption Unit in the US Attorney’s Office for the Southern District of New York, where he led a team of approximately 20 senior prosecutors conducting some of the Office’s most sensitive and high-profile matters, including the investigation of Rudolph Giuliani and the prosecutions of Lev Parnas and Igor Fruman, Stephen K. Bannon, Jeffrey Epstein, Ghislaine Maxwell and Michael Avenatti.

    “As courts reopen and government enforcement activities continue to rise, Ted will provide critical counsel to clients engaged in high-impact matters and seeking to navigate risks inherent in regulated activities,” David Rosenbloom, global head of McDermott’s Litigation Practice Group, said. “Ted brings a record of noteworthy trial experience and outstanding achievements that will expand our team and our ability to defend high-stakes white-collar defense and government investigation matters.”

    Ted spent nine years with the US Attorney’s Office for the Southern District of New York, where he first served as an Assistant US Attorney and then rose to Chief of the Public Corruption Unit. He led dozens of investigations into a wide variety of white-collar criminal offenses, handling matters involving the Foreign Corrupt Practices Act (FCPA) and other anti-bribery laws, wire fraud, healthcare fraud, domestic and international money laundering and tax offenses, as well as matters involving violations of the Bank Secrecy Act (BSA) and US sanctions laws. While at the US Attorney’s Office, Ted successfully tried 10 jury trials to verdict and briefed or argued more than a dozen cases before the US Court of Appeals for the Second Circuit.

    “McDermott has a strong tradition of counseling companies and individuals through some of the most sensitive and complex government and regulatory matters, and the Firm’s litigation practice enjoys an international reputation for excellence,” Ted said. “I am excited to become part of a team that has distinguished itself with its wise strategic counsel, strong trial skills and deep substantive knowledge across industries.”

    Ted received both his BA (magna cum laude) and his JD from Yale University, where he was an Articles & Essays editor of the Yale Law Journal.

    McDermott is expanding its litigation footprint across the United States and around the globe. Since the beginning of 2021, we have welcomed nine litigation partners and their supporting teams, including Kenji Price and Julian Andre in the US and Simon Airey and Michael Darowski in London.

    About Us

    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—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

    Edward B. Diskant

    Partner

    New York – One Vanderbilt Avenue

    Julian L. André

    Partner

    Los Angeles

    Simon Airey

    Partner

    London – 22 Bishopsgate

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  • McDermott advises LABELIUM on its acquisition by Charterhouse Capital Partners

    PRESS RELEASE

    McDermott advises LABELIUM on its acquisition by Charterhouse Capital Partners

    July 7, 2021

    Read time: 3 min

    McDermott Will & Emery has advised the founders of the LABELIUM group, an international digital marketing and data agency, on its takeover by Charterhouse Capital Partners from Qualium.

    This follows on from advising the group on its acquisition by Qualium three years ago.

    This transaction will allow LABELIUM to accelerate its international commercial development.

    The McDermott team advising LABELIUM included:

    • Grégoire Andrieux and Fabrice Piollet, partners, Claire Barra, and Baptiste Tigaud, associates, Private Equity
    • Antoine Vergnat, partner, Côme de Saint-Vincent, Matthieu Rannou, associates, Tax
    About Us

    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—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

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  • McDermott Represents Tegria in its Acquisition of KenSci, Inc.

    McDermott Represents Tegria in its Acquisition of KenSci, Inc.

    PRESS RELEASE

    McDermott Represents Tegria in its Acquisition of KenSci, Inc.

    July 6, 2021

    Read time: 3 min

    International law firm McDermott Will & Emery represented Tegria Services Group, Inc. (Tegria), a company launched by Providence to provide next-generation technologies and services to the healthcare sector, in its acquisition of KenSci Inc. (KenSci), a leader in artificial intelligence platforms and applications for healthcare. This transaction expands Tegria’s capabilities in electronic health records optimization, managed services and revenue cycle management, among others.

    • The transaction was completed on June 24, 2021.
    • McDermott Will & Emery acted as legal counsel to Tegria and Providence.
    • This transaction marks the third acquisition McDermott Will & Emery has served as legal counsel for Tegria, followed by its acquisitions of MediRevv, Inc. and Acclara Solutions Group, LLC.
    About Us

    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—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

    Kyle D. Weber

    Partner

    Los Angeles

    Amber Adair

    Partner

    Dallas

    Nickou Oskoui

    Partner

    Dallas

    Todd A. Solomon

    Partner

    Chicago

    Abigail M. Kagan

    Partner

    New York – One Vanderbilt Avenue

    Cathy Ren

    Partner

    Los Angeles

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  • Mcdermott Advises Payment Technology Specialists Caura On Latest Round Of Fundraising

    Mcdermott Advises Payment Technology Specialists Caura On Latest Round Of Fundraising

    DEAL ANNOUNCEMENT / PRESS RELEASE

    Mcdermott Advises Payment Technology Specialists Caura On Latest Round Of Fundraising

    July 6, 2021

    Read time: 3 min

    McDermott Will & Emery advised Caura Limited on its latest round of fundraising.

    Caura is a payment platform for your car to manage parking, tolls, congestion charge, MOTs, vehicle tax and insurance. It was founded in 2018 by a team of auto enthusiasts and engineers. The platform is FCA approved and is downloadable app that integrates with Apple Pay or can safely store payment details, which can be used to pay car charges.

    The McDermott team was led by partner Aymen Mahmoud and supported by Nicholas Jupp and trainee Ryan Clarke.

    About Us

    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—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

    Aymen Mahmoud

    Partner

    London – 22 Bishopsgate

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  • Schulte Advises Birch Grove Capital on Merger with Ascribe Capital

    Schulte Advises Birch Grove Capital on Merger with Ascribe Capital

    PRESS RELEASE

    Schulte Advises Birch Grove Capital on Merger with Ascribe Capital

    July 1, 2021

    Read time: 3 min

    Schulte advised Birch Grove Capital, a $2.4-billion alternative credit manager focused on corporate credit opportunities, on its merger with Ascribe Capital, American Securities LLC’s opportunistic credit business. The combined entity, AS Birch Grove, manages $5 billion in assets across an opportunistic hedge fund, private credit vehicles and par credit and collateralized loan obligation vehicles. In the near term, AS Birch Grove has over $1 billion in capital to invest in opportunistic credit situations across leveraged loans, high yield and convertible bonds, equity-linked securities, stressed and distressed investments and corporate structured credit.

    The Schulte team advising Birch Grove was led by M&A and Securities partner Lawrence Natke and Investment Management partner David Nissenbaum. The team also included Investment Management special counsel Jill Guzzetti; Tax partner Philippe Benedict and associate Brandi Ripp; Investment Management Regulatory & Compliance partner Marc Elovitz and associate Tarik Shah; M&A and Securities special counsel Gregory Kinzelman; Finance & Derivatives partner Craig Stein; and former Schulte lawyers Ari Bressman and Lance Arberry.

    About Us

    David Nissenbaum

    Partner

    New York – 919 Third Avenue

    Philippe Benedict

    Partner

    New York – 919 Third Avenue

    Brandi Ripp

    Associate

    New York – 919 Third Avenue

    Marc E. Elovitz

    Partner

    New York – 919 Third Avenue

    Tarik M. Shah

    Partner

    New York – 919 Third Avenue

    Craig Stein

    Partner

    New York – 919 Third Avenue

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  • Daily Journal Recognizes Two McDermott Partners as Top Labor & Employment Lawyers

    AWARDS & RANKINGS / PRESS RELEASE

    Daily Journal Recognizes Two McDermott Partners as Top Labor & Employment Lawyers

    July 1, 2021

    Read time: 3 min

    International law firm McDermott Will & Emery is pleased to announce that partners Maria Rodriguez and Ellen Bronchetti have been named to Daily Journal’s Top Labor & Employment Lawyers list in 2021.

    Maria serves as Office Managing Partner of the Firm’s Los Angeles office. She also advises US and international corporations with regard to employment law compliance and mergers and acquisitions and defends employment cases and class action litigation. She is a trusted advisor to clients helping them avoid or resolve disputes and protect resources through proactive and strategic planning. Maria is experienced working with clients in the sports, media and entertainment, technology, food and restaurant, airline, transportation and distribution, health care and fashion industries.

    Ellen is a partner in McDermott’s San Francisco office who represents employers in employment and traditional labor disputes. Her litigation experience includes representing employers in state and federal cases involving issues in wage and hour, trade secret misappropriation, whistleblower, wrongful termination, harassment, discrimination, statutory leave, retaliation and breach of contract claims, including complex class actions and representative action litigation across the United States.

    About Us

    McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

    Maria C. Rodriguez

    Partner

    Los Angeles

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  • McDermott Advises Merck on Collaboration with B. Braun Start-up in the Field of Bioelectronic Stimulation

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Advises Merck on Collaboration with B. Braun Start-up in the Field of Bioelectronic Stimulation

    June 30, 2021

    Read time: 3 min

    Frankfurt/Munich, June 30, 2021 – McDermott Will & Emery advised Merck KGaA on a collaboration agreement with neuroloop GmbH, a B. Braun subsidiary and early-stage start-up company based in Freiburg, Germany.

    The collaboration seeks to develop a neurostimulator device that may complement the existing drug therapies for patients with chronic inflammatory diseases. Initial data is expected by the end of 2022 and will subsequently be evaluated in a clinical trial. Once development is complete approval will be sought in major markets, such as the European Union and the United States.

    neuroloop GmbH is a spin-off of the University of Freiburg and the Freiburg University Medical Center. Since its foundation in 2015, the company has been exclusively financed by Aesculap AG, the surgical division of the B. Braun Group.

    Merck, a leading science and technology company with around 58,000 employees, is active in the fields of healthcare, life science and performance materials. In 2020, the Group generated sales of € 17.5 billion in 66 countries.

    The joint development agreement with B. Braun and neuroloop represents a milestone in the new Bioelectronics innovation field of Merck.

    Counsels Monika Richter, Deniz Tschammler and Jana Grieb acted as advisors to Merck.

    Merck’s inhouse team comprised Dariush Bahreini, Willem F.C. de Weerd and Holger Pittroff.

    About Us

    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 — and often unexpected — solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

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  • McDermott Comment | Hurricane Energy Restructuring Plan Dismissed By High Court

    PRESS RELEASE

    McDermott Comment | Hurricane Energy Restructuring Plan Dismissed By High Court

    June 28, 2021

    Read time: 3 min

    Mark Fine, partner at law firm McDermott Will & Emery, said:

    “This is the first time we have seen the courts refuse to sanction a restructuring plan and the case provides helpful guidance on the cross class cram-down we have seen developing in DeepOcean and Virgin Active.  The “no worse off than” test is a crucial condition to satisfying the ability to utilize the cram-down and in this case, Justice Zacaroli concluded that the group failed to show that none of its shareholders would be any worse off under the plan than in the relevant alternative.  Whilst in the case of Virgin Active, the most likely relevant alternative was a trading administration, here the group is likely, in the short to medium term at least, to continue trading profitably.

    Additionally, even if both statutory conditions are met to effect the cram-down, the court still has the discretion to refuse to sanction a plan and Zacaroli confirmed that, even if he was incorrect on the no worse than test, he would have used such discretion to block the plan.”

     

    About Us

    Mark Fine

    Partner

    London – 22 Bishopsgate

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  • Commitment to a Client-Focused Approach, Diversified Legal Talent and Creative Problem Solving Earns McDermott Top Recognition in Legal 500 2021

    Commitment to a Client-Focused Approach, Diversified Legal Talent and Creative Problem Solving Earns McDermott Top Recognition in Legal 500 2021

    PRESS RELEASE

    Commitment to a Client-Focused Approach, Diversified Legal Talent and Creative Problem Solving Earns McDermott Top Recognition in Legal 500 2021

    June 25, 2021

    Read time: 4 min

    International law firm McDermott Will & Emery has received high accolades from the Legal 500 United States 2021 for the Firm’s outstanding achievements in utilizing a creative problem solving approach in addressing legal matters with a strong focus on client needs.

    Overall, the Firm received 41 practice rankings, including five in Tier 1 and nine in Tier 2. Additionally, the Firm received 160 individual lawyer recommendations, including 12 ranked in the ‘Hall of Fame,’ eight lawyers listed as ‘Leading Lawyers,’ seven lawyers recommended as ‘Next Generation Partner’ and two as ‘Rising Stars.’

    For the tenth consecutive year, the Firm’s Health practice garnered Tier 1 rankings in both Healthcare: Service Providers, and Healthcare: Insurers. The practice is touted as providing a full spectrum of services in the healthcare space, with reviewers noting the Firm’s “expertise in the healthcare field is unparalleled.”

    Also for the tenth consecutive year, the Firm’s Transactions practice earned a Tier 1 ranking in Mergers & Acquisitions: M&A: Middle-Market ($500-999M). Reviewers say the team is “very hands-on and works very collaboratively,” they are also “incredibly knowledgeable, proactive, and responsive.” McDermott’s Tax practice ranked Tier 1 in Tax: US Taxes: Contentious for the fifth consecutive year.

    Select rankings from The Legal 500 United States 2021 include:

    Tier 1 Rankings:

    • Corporate & Commercial: M&A: middle-market
    • Healthcare (Service Providers)
    • Healthcare (Health Insurers
    • Tax: US Taxes- Contentious
    • Tax: US Taxes-Non-contentious

    Tier 2 Rankings:

    • Dispute Resolution: Product liability and Mass Tort Defense (Toxic Tort)
    • Employee Benefits and Retirement Plans: Transactional
    • Energy Regulation: Conventional Power
    • Energy: Renewable/Alternative Power
    • ERISA Litigation
    • Intellectual Property: Trademarks non-contentious
    • Media, Technology and Telecoms: Outsourcing
    • Tax: Financial Products
    • Tax: International Tax

    Leading Lawyers:

    • Timothy Alvino*
    • Bernadette Broccolo*
    • Jane Byrne*
    • Gary Scott Davis*
    • Jeremy Earl
    • Todd Finger
    • David Guedry*
    • Paul Hughes
    • Christopher Jedrey*
    • Roger Jones*
    • Andrea Kramer*
    • Jason Krieser
    • Neil Levy
    • Joanne Osendarp
    • Kerrin Slattery*
    • David Tewksbury
    • Margaret Warner*
    • Lowell Yoder*
    • Edward Zaelke
    • Robert Zelnick*

    *Indicates ‘Hall of Fame’ recognition for lawyers who have been listed as ‘Leading Lawyers’ for six or more years.

    Next Generation Partner:

    • Sandra DiVarco
    • Carl Fleming
    • Shawn Helms
    • Michael Kimberly
    • Kate McDonald
    • Katharine O’Connor
    • Monica Wallace

    Rising Stars:

    • Gregory Fosheim
    • Stephanie Lim

    View the full Legal 500 US 2021 rankings.

    About Us

    McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. With more than 20 locations on three continents, our team works seamlessly across practices, industries and geographies to deliver highly effective—and often unexpected—solutions that propel success. More than 1,100 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.

    Gary Scott Davis PA

    Senior Counsel

    Miami

    Jeremy Earl

    Partner

    Washington, DC

    Todd Finger

    Partner

    New York – One Vanderbilt Avenue

    David Guedry

    Partner

    Dallas, Houston

    Paul W. Hughes

    Partner

    Washington, DC

    Roger J. Jones

    Counsel

    Chicago

    Jason D. Krieser

    Partner

    Dallas

    Neil L. Levy

    Partner

    Washington, DC

    Kerrin B. Slattery

    Partner

    Chicago

    David G. Tewksbury

    Partner

    Washington, DC

    Margaret H. Warner

    Partner

    Washington, DC

    Lowell D. Yoder

    Partner

    Chicago

    Edward Zaelke

    Partner

    Los Angeles

    Robert W. Zelnick

    Counsel

    Washington, DC

    Sandra M. DiVarco

    Partner

    Chicago

    Carl J. Fleming

    Partner

    Washington, DC

    Shawn C. Helms

    Partner

    Dallas

    Kate McDonald

    Partner

    Washington, DC

    Monica Wallace

    Partner

    Chicago

    Stephanie S. Lim

    Counsel

    Washington, DC

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