Newsroom Categories: Press release

  • SolomonSimmonsLaw and Schulte Roth & Zabel File Responses to Motions to Dismiss in Tulsa Race Massacre Litigation

    SolomonSimmonsLaw and Schulte Roth & Zabel File Responses to Motions to Dismiss in Tulsa Race Massacre Litigation

    PRESS RELEASE

    SolomonSimmonsLaw and Schulte Roth & Zabel File Responses to Motions to Dismiss in Tulsa Race Massacre Litigation

    June 2021

    Read time: 5 min

    Tulsa-based civil and human rights attorney Damario Solomon-Simmons of SolomonSimmonsLaw, Schulte Roth & Zabel LLP (SRZ) and a team of civil and human rights lawyers filed briefs in opposition to eight motions to dismiss from the defendants in the Tulsa Race massacre litigation, which include the State of Oklahoma, the City of Tulsa and others. These response briefs are the latest legal action to help provide healing and justice to the survivors and descendants of the 1921 Tulsa Race Massacre.

    Defendants are denying a public nuisance claim is a valid cause of action in this instance, even though the plaintiff’s allegations and request for a remedy would address the racial disparities, economic inequalities, insecurity and trauma that the defendants’ unlawful actions and omissions caused and continue to cause. The lawsuit seeks to return the Greenwood District, once known as Black Wall Street, back to the prosperous area it was prior to the devastating events of May 1921. Today, this area remains poorer and in worse health than the rest of the city. In May 2021, Human Rights Watch published a follow up to their groundbreaking May 2020 report on the Case for Reparations in Tulsa, reporting on the failure of the City of Tulsa and the Centennial Commission to support the survivors’ demands for justice.

    The more substantive arguments in the motions to dismiss focus on the Defendants’ claims that the plaintiffs lack standing and that they have failed to demonstrate why the public nuisance statute applies in this case. However, in the responses filed today, the litigation team clearly shows that it not only applies, but that the plaintiffs have exceeded the notice pleading standard in Oklahoma in the Amended Petition filed in February.

    “The defendants’ latest actions are further indications that they are failing to rebuild what they destroyed, reaping benefits from their destructive acts, and denying justice for Greenwood,” said Mr. Solomon-Simmons.

    What’s more, the State of Oklahoma, one of the defendants trying to throw out the public nuisance claim, used this exact same legal theory of public nuisance to sue pharmaceutical companies during the opioid epidemic and won. “The viability of our claim can be seen in the defendant’s own past litigation strategies,” said Michael Swartz, co-chair of SRZ’s Litigation Group and chair of the firm’s Pro Bono Committee. “100 years after this terrible tragedy took place, we look forward to continuing our fight for justice for the survivors and descendants.”

    On May 31, 1921, one of the worst acts of domestic terrorism in U.S. history completely decimated Tulsa’s thriving, all-Black community of Greenwood. A large white mob, including members of the Tulsa Police Department, the Tulsa Chamber of Commerce, the Tulsa County Sheriff’s Department and the Oklahoma National Guard, as well as other city and county leaders, overwhelmed the approximately 40-square-block community, killing hundreds of Black residents, injuring thousands more, burning down over one thousand homes and businesses and stealing residents’ personal property. Mr. Solomon-Simmons represents the only known survivors of the massacre, 106-year-old Lessie Benningfield “Mother” Randle, 107-year-old Viola “Mother” Fletcher, and 100-year-old Hughes Van Ellis, who are still awaiting justice for Greenwood nearly a century after the brutal attack.

    SolomonSimmons Law, in conjunction with Schulte Roth & Zabel; J. Spencer Bryan and Steven Terrill of BryanTerrill, P.C.; Professor Eric Miller of Loyola Marymount College of Law; and Maynard M. Henry, Sr., Lashandra Peoples-Johnson and Cordal Cephas of Johnson Cephas Law PLLC, is working to not only secure justice for survivors and descendants of the massacre, but also raise attention to the 100 years of continued harm the Tulsa Race Massacre has caused Black Tulsans.

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  • McDermott Continues Talent Acquisition Spree; Adds Six Transactions Partners in Key Sectors

    McDermott Continues Talent Acquisition Spree; Adds Six Transactions Partners in Key Sectors

    PRESS RELEASE

    McDermott Continues Talent Acquisition Spree; Adds Six Transactions Partners in Key Sectors

    May 27, 2021

    Read time: 6 min

    International law firm McDermott Will & Emery added six partners to the Transactions Practice Group in cities across the United States: Brian Gordon in Atlanta, Marcus Helt in Dallas, Parker Lee in New York, Mal Serure in Los Angeles, David Solander in Washington, DC and David Wolff in Chicago. This added, diversified talent across the transactions arena will guide clients—including some of the most important businesses in world—in their critical investments throughout a volatile market to achieve the best possible outcomes.

    “Providing top legal talent for corporate clients in an increasingly active, technical and regulated post-pandemic market is our number one priority,” Harris Siskind, global head of the Firm’s transactions practice, said. “With our continued growth across our transactions practice platform, we are able to deliver creative and efficient legal solutions that match the diverse needs of our clients.”

    “The transactions landscape has evolved greatly over the last year, and it’s vital we continue to build out our Firm’s in-demand transactions practice and bring on new teams to meet our clients’ growing needs,” added Michael Poulos, McDermott’s Head of Strategy. “These hires underscore our commitment in key markets like Atlanta, where our office has already doubled in size since opening in March 2020, and similarly in Texas, where new energy and restructuring talent have accelerated projected growth over the last year.”

    McDermott Chairman Ira Coleman noted, “In the spirit of delivering ever-greater value to our clients, people and communities, we are thrilled to add these incredible deal lawyers to the McDermott family. Our industry-leading growth over the past three years is a testament to our indispensability to our clients, and it is supported by stellar partner talent acquisition.”

    The six new partners are:

    • Brian Gordon (Atlanta) represents VC-backed technology companies in acquisitions, financing transactions, negotiation of credit facilities, corporate governance, employment and equity compensation matters. On the private equity side, he represents funds in their acquisitions, roll-ups and sales of portfolio companies, with a subspecialty in restaurants and retail. Brian joins from DLA Piper.
    • Marcus Helt (Dallas) focuses his practice on restructuring and insolvency matters, emphasizing bankruptcy, corporate restructuring, workouts, creditors’ rights and commercial litigation. Marcus represents borrower clients, buyers and other interested parties in all industries, especially healthcare, retail, food and beverage, energy, manufacturing, distribution and franchise. Marcus joins from Foley & Lardner.
    • Parker Lee (New York) counsels some of the world’s largest energy companies. He advises corporations and investors in evaluating and executing transactions and commercial contracts in the energy and infrastructure industries. He represents clients in various domestic and international oil & gas, power, water, petrochemical and infrastructure M&A, project development and joint venture transactions. Parker joins from Hunton Andrews Kurth.
    • Mal E. Serure (Los Angeles) is a commercial real estate lawyer with more than two decades of experience representing private equity funds, banks, real estate companies and real estate investment trusts in a wide range of transactions. He regularly advises lenders and borrowers in mortgage and mezzanine loan financing, and preferred equity transactions, as well as owners and investors in purchase and sale and joint venture transactions. Mal also advises clients on the purchase, workout and restructuring of troubled loans, including negotiations with co-lenders, participants, servicers and special servicers. Mal joins from Bryan Cave Leighton Paisner.
    • David Solander (Washington, DC) works with financial services firms on the many regulatory and compliance issues related to the asset management industry. In addition to traditional financial institutions—including managers to hedge funds, PE, real estate, VC and other private fund clients—David advises companies utilizing blockchain technology on regulatory matters and fund formation related to trading and investing in cryptocurrency and digital assets. David joins from Goodwin Procter.
    • David Wolff (Chicago) is a leading real estate transactions lawyer dedicated to closing high-impact deals for numerous private equity sponsors, real estate investment trusts, developers, capital providers and other institutional and non-institutional investors in commercial real estate transactions and related joint venture and finance transactions. David will lead the Firm’s Chicago real estate practice. David joins from Kirkland & Ellis.

    These partners join on the heels of steady, strong growth as McDermott jumped from #30 in 2019 to #24 in 2020 on The American Lawyer’s Am Law100 ranking.

    Prior to this group joining, McDermott added several partners to the Firm’s Transactions Practice Group, including Houston-based Jack Langlois and Jibin Luke, a well-known duo in the Texas energy and legal circles. Anne Cox-Johnson also joined in Atlanta.

    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.

    Brian M. Gordon

    Partner

    Atlanta

    Mal E. Serure

    Partner

    Los Angeles, New York – One Vanderbilt Avenue

    David M. Wolff

    Partner

    Chicago

    Ira J. Coleman

    Chairman

    Miami

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  • McDermott Advises SURFTOWN Hallbergmoos GmbH on Development of Europe’s Largest Surf Park

    McDermott Advises SURFTOWN Hallbergmoos GmbH on Development of Europe’s Largest Surf Park

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Advises SURFTOWN Hallbergmoos GmbH on Development of Europe’s Largest Surf Park

    May 25, 2021

    Read time: 3 min

    Munich, May 25, 2021 – McDermott Will & Emery advised SURFTOWN Hallbergmoos GmbH on the development of the largest artificial surf park in Europe.

    With SURFTOWN MUC, a 20,000 square meter artificial surf facility, unique in Europe, will be created in the north of Munch. The municipality of Hallbergmoos has approved the development plan for the project and construction work is scheduled to begin in the fall of 2021. The park is scheduled to open in 2023. Close to the surf park, project developer Rock Capital Group is planning an approx. 29,000-square-meter multifunctional hybrid building – the “Hybrid One” – comprising offices, restaurants and retail.

    A McDermott team led by Ralf Weisser and Nadine Hartung advised SURFTOWN Hallbergmoos GmbH on the contracts for the design of the surf facility, the acquisition of the technology for the project, and a financing round. The team included Nina Siewert, Claus Färber and Robert Feind.

    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.

    Dr. Claus Färber

    Counsel

    Munich

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  • McDermott Expands Hospitals and Health Systems Team with Prominent LA Hire

    PRESS RELEASE

    McDermott Expands Hospitals and Health Systems Team with Prominent LA Hire

    May 24, 2021

    Read time: 4 min

    International law firm McDermott Will & Emery is proud to announce the arrival of Travis Jackson as partner in the Healthcare practice based in Los Angeles. Travis strengthens the Firm’s leading Hospitals and Health Systems team with experience representing healthcare providers on transactions and regulatory matters.

    “Clients will benefit from Travis’s knowledge of the ins and outs of federal healthcare reform, transaction trends and other legal issues across the healthcare industry,” said Eric Zimmerman, global head of McDermott’s Health practice. “Travis is well-admired amongst the health community and his experience is instrumental in our continued goal of expanding our Southern California-based footprint to maximize client access.”

    Travis works with leading hospitals, health systems and academic medical centers to bring their most complex and innovative mergers, acquisitions and joint ventures to market. Through his counsel, Travis’s healthcare clients – both for-profit and nonprofit entities – enhance their operational efficiencies, improve care delivery and strengthen relationships with physicians and the communities they serve in a compliance-driven and cost-effective manner.

    “I’m thrilled to be joining McDermott’s cutting-edge and nationally recognized health practice,” added Travis. “The Firm offers countless opportunities and resources for my clients who are looking to expand into new markets. I am eager to hit the ground running and guide clients shaping the healthcare landscape.”

    Recently recognized by Chambers USA, Travis earned his JD at Notre Dame Law School and his BA from Northwestern Oklahoma State University. Prior to joining McDermott, Travis was a partner at King & Spalding.

    McDermott Will & Emery is the nation’s leading health law firm. The Health Industry Advisory group is the only health practice to receive top national rankings from U.S. News – Best Lawyers “Best Law Firms,” Chambers USA, The Legal 500 US, and Law360. The practice was also recognized by Chambers as “Health Team of the Year” in 2010, 2013, 2017 and 2019. McDermott has also held the top spot in PitchBook’s League Tables as the most active firm for healthcare private equity since 2017.

    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.

    Travis Jackson

    Partner

    Los Angeles

    Eric Zimmerman

    Partner

    Washington, DC

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  • McDermott Represents Oasis Petroleum in the Sale of its Entire Permian Basin Position

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Represents Oasis Petroleum in the Sale of its Entire Permian Basin Position

    May 24, 2021

    Read time: 3 min

    International law firm McDermott Will & Emery represented Oasis Petroleum Inc. (Oasis), an independent exploration and petroleum company, in its series of definitive agreements to sell its entire Permian Basin position. This sale positions Oasis exclusively in the Williston Basin, which will drive significant value creation through its size, scale and robust inventory life as one of the basin’s largest operators.

    • The total consideration consists of $406 million at closing and up to three $25 million annual contingent payments in 2023, 2024 and 2025.
    • The primary transaction is expected to close around June 30, 2021, subject to customary closing conditions.
    • McDermott Will & Emery acted as legal advisor to Oasis.
    • J.P. Morgan Securities LLC acted as strategic and financial advisor to Oasis.
    • Read the full client release 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 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 Zaelke

    Partner

    Los Angeles

    Jacob Hollinger

    Partner

    New York – One Vanderbilt Avenue

    Andrew B. Kratenstein

    Partner

    New York – One Vanderbilt Avenue

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  • McDermott Earns “Elite” Firm Designation and 12th Consecutive Band 1 National Ranking from Chambers USA

    McDermott Earns “Elite” Firm Designation and 12th Consecutive Band 1 National Ranking from Chambers USA

    AWARDS & RANKINGS / PRESS RELEASE

    McDermott Earns “Elite” Firm Designation and 12th Consecutive Band 1 National Ranking from Chambers USA

    May 21, 2021

    Read time: 5 min

    International law firm McDermott Will & Emery is pleased to announce its Healthcare Group received its 12th consecutive national Band 1 ranking in the 2021 edition of Chambers USA. The team also earned Band 1 state-level healthcare rankings in California, Florida, Illinois, Massachusetts and Washington, DC. Additionally, the Firm earned the national Spotlight Table ranking for the Privacy and Data Security: Healthcare category. Overall, the Firm saw a 25% increase in the number of new partners recognized, bringing the total to 37.

    Chambers praised McDermott’s Health Industry Advisory practice, describing the team as “top-notch” and “very knowledgeable, responsive and practical.” Interviewees also drew attention to the Firm’s “incredible roster of clients.”

    Clients provided similarly impressive remarks, noting our team’s deep bench strength and specialties. “McDermott is the best – they have the deepest knowledge and the most subspecialists” and “the firm consistently produces high-value work. It does a great job quickly analyzing and reporting out on regulatory and legislative changes.” One interviewee recognized “McDermott’s healthcare practice is unparalleled. It has experts on every corner of the industry.”

    This year was particularly important and challenging for the health industry. Our passion and dedication to help clients achieve and surpass their business goals, while delivering the highest level of care – no matter the state of the healthcare landscape – was most important to us.  “We are honored that Chambers USA again recognized our unwavering commitment to clients,” said Eric Zimmerman, global lead of McDermott’s Health practice. “After the challenges over the last year, these accolades feel particularly gratifying, because they reflect that we successfully served our clients on the front lines of the COVID-19 response as they advanced their missions and kept their businesses moving forward.”

    Of the 37 Chambers USA recommended healthcare lawyers, 12 were ranked in Band 1, including  Bernadette Broccolo, Stephen W. Bernstein, Ira Coleman, Charles Buck, John M. Callahan,  Gary Scott Davis, Christopher M. Jedrey, James F. Owens, Michael W. Peregrine, Kerrin Slattery, Jerry J. Sokol and Eric Zimmerman. Additional lawyers were recognized across eight states, including seven lawyers who were added to the rankings for the first time and six who advanced from the previous year.

    McDermott Will & Emery is the nation’s leading health law firm. The Health Industry Advisory group is the only health practice to receive top national rankings from U.S. News – Best Lawyers “Best Law Firms,” Chambers USA, The Legal 500 US, and Law360. The practice was also recognized by Chambers as “Health Team of the Year” in 2010, 2013, 2017 and 2019. McDermott has also held the top spot in PitchBook’s League Tables as the most active firm for healthcare private equity since 2017.

    Read the full details about the Firm’s rankings and editorial commentary.

    ABOUT CHAMBERS USA

    Chambers USA rankings and editorial commentary are based on independent research, and interviews with clients and other purchasers of legal services. Chambers & Partners is one of the premier directories for legal services and in a survey of 20,000 in-house counsel over half reported that their directory of choice when reviewing law firms and individual lawyers is Chambers & Partners.

    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.

    Eric Zimmerman

    Partner

    Washington, DC

    Ira J. Coleman

    Chairman

    Miami

    John M. Callahan

    Partner

    Chicago

    Charles R. Buck

    Partner

    Boston

    Gary Scott Davis PA

    Senior Counsel

    Miami

    Kerrin B. Slattery

    Partner

    Chicago

    Jerry J. Sokol

    Partner

    Miami

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  • McDermott Expands Intellectual Property Practice with DC Partner

    McDermott Expands Intellectual Property Practice with DC Partner

    PRESS RELEASE

    McDermott Expands Intellectual Property Practice with DC Partner

    May 21, 2021

    Read time: 4 min

    International law firm McDermott Will & Emery announces the arrival of Intellectual Property partner Adam Burrowbridge in the Washington, DC office. Adam joins former Wilson Sonsini colleague Doug Carsten at the Firm, further bolstering our IP litigation capabilities and expanding our east coast life sciences practice.

    “Adam is an incredibly passionate lawyer who is deeply invested in his clients’ success. He also understands that there is value to add at every stage of the IP lifecycle,” said Bill Gaede, Global Head of McDermott’s Intellectual Property practice. “Adam’s well-rounded litigation experience combined with his technical acumen and personal passion make him a fierce advocate for his clients inside and outside of the courtroom. We’re thrilled to have him join our team.”

    Adam specializes in managing large-scale IP litigation and also has a strong appellate litigation background. He routinely represents clients in all phases of litigation, including during appellate proceedings at the US Court of Appeals for the Federal Circuit. His work in patent litigations cover a wide range of technologies, including pharmaceuticals, software, medical devices and consumer products. He also represents clients in commercial litigation and arbitration matters.

    “I know McDermott’s business-first perspective ensures focus on client value and I know my clients will benefit from this as well as the Firm’s cross-practice platform,” said Adam. “I’m excited to be joining McDermott’s world-class IP team and work alongside all of its top litigators.”

    Adam received his JD from American University, Washington College of Law and his BS from James Madison University.

    Adam is McDermott’s latest arrival to the Intellectual Property practice following a string of partner hires including Shane Nichols in Atlanta, as well as Michael Siekman and Jenny Chen in Boston.

    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.

    Adam W. Burrowbridge

    Partner

    Washington, DC

    Douglas H. Carsten

    Partner

    San Diego

    William Gaede

    Partner

    Silicon Valley, San Francisco

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  • McDermott Advises Imfarr on the Landmark Acquisition of “Highlight Towers” in Munich with SN Beteiligungen

    DEAL ANNOUNCEMENT / PRESS RELEASE

    McDermott Advises Imfarr on the Landmark Acquisition of “Highlight Towers” in Munich with SN Beteiligungen

    May 19, 2021

    Read time: 3 min

    Frankfurt, May 19, 2021 – Imfarr Beteiligungs GmbH and SN Beteiligungen Holding AG have jointly acquired the office buildings “Highlight Towers” in Munich from Commerz Real. A team from McDermott Will & Emery acted as advisors to Imfarr. The transaction is one of the largest single commercial real estate deals in Germany in recent years.

    The “Highlight Towers” with 28 and 33 floors and two low-rise buildings have a total area of almost 86,000 sqm. The office towers are fully let to companies such as Amazon, IBM, Fujitsu, Sol Meliá and Design Offices.

    Imfarr Beteiligungs GmbH is a family-owned company, founded in 2007 in Vienna, which specializes in real estate development and investments in Austrian and German cities such as Vienna, Leipzig, Frankfurt and Munich.

    McDermott recently advised Imfarr on the acquisition of the Frankfurt “Silberturm”, the Nestlé Campus and the Development Partner AG. The Swiss SN Beteiligungen Holding AG acted as co-investor on these transactions as well.

    McDermott Will & Emery advised Imfarr Beteiligungs GmbH with a team led by
    Maximilian Clostermeyer and Kian Tauser, and including Philipp Grenzebach, Christoph Coenen, Marcus Fischer, Tina Zeller, Elena Platte, and Florian Schiefer.

    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.

    Dr. Kian Tauser

    Partner

    Frankfurt

    Dr. Philipp Grenzebach

    Partner

    Düsseldorf, Frankfurt

    Christoph Coenen

    Partner

    Frankfurt

    Marcus Fischer

    Counsel

    Frankfurt

    Tina Happ

    Associate

    Frankfurt

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  • Privacy and Cybersecurity Leader Strengthens McDermott’s  In-Demand and Expanding Practice

    Privacy and Cybersecurity Leader Strengthens McDermott’s In-Demand and Expanding Practice

    PRESS RELEASE

    Privacy and Cybersecurity Leader Strengthens McDermott’s In-Demand and Expanding Practice

    May 19, 2021

    Read time: 4 min

    International law firm McDermott Will & Emery is pleased to announce David P. Saunders has joined the Firm’s Privacy & Cybersecurity Group based in Chicago. David is both a sophisticated counselor focused on protecting clients against privacy and cyber threats as well as a seasoned litigator when matters make their way into the courtroom.

    “Today’s digital world can pose incredible risks for businesses as they fight to protect their assets while maintaining compliance with a fast-evolving legal landscape,” Todd McClelland, global head of the Firm’s privacy and cybersecurity practice, said. “David’s perspective through the lens of a litigator will help clients at the earliest possible phase avoid, detect—and when necessary, defend against—privacy and cybersecurity risks.”

    David’s practice focuses on counseling large to mid-sized companies on compliance with privacy regulations and managing data incident responses, to navigating regulatory investigations and handling biometric and other privacy-related litigation. He represents clients across several industries, including technology, consumer products and financial services.

    “Helping clients navigate myriad privacy and cybersecurity issues arising in everyday business and defending those clients’ practices excites me every day,” David said. “McDermott’s strength in client commitment, geographical reach, depth of experience and successful outcomes was most attractive for my practice.”

    David maintains a strong pro-bono practice and aligns with the Firm’s commitment to furthering social justice initiatives. David has represented inmates in various actions in state and federal courts, providing privacy program development, counseling and training to nonprofits.

    Before joining McDermott, David served as co-chair of Jenner & Block’s Data Privacy and Cybersecurity practice and as a partner in its Complex Commercial Litigation practice. He has been recognized in Global Data Review’s “40 under 40 2021” list, representing “the best of the upcoming generation of data lawyers.”

    David received his JD from the University of Virginia and his BA from the University of Chicago.

    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.

    David P. Saunders

    Partner

    Chicago

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  • McDermott Comment | Regis CVA Revoked As Court Declares It Unfairly Prejudicial / Caffè Nero Seeks CVA Challenge Dismissal

    PRESS RELEASE

    McDermott Comment | Regis CVA Revoked As Court Declares It Unfairly Prejudicial / Caffè Nero Seeks CVA Challenge Dismissal

    May 18, 2021

    Read time: 3 min

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

    “Over recent years, the use of CVAs to bind commercial landlords to lease compromises has attracted much publicity.  The new restructuring plan offers a similar purpose.  Both restructuring tools are subject to judicial safeguards (albeit, in the case of CVAs, only after a court challenge is commenced). Landlords have been left feeling bruised by the courts following the judgments handed down this week in New Look and Virgin Active.  The Regis judgment offers them some very limited respite.  The court provided some helpful guidance on where it is possible to justify applying a blanket discount to landlords’ claims in respect of future rent for voting purposes, and scrutinised the treatment of one of Regis’ creditors as “critical” (meaning its claim would be unimpaired), ultimately deciding it was not justified and amounted to unfair prejudice. In other material respects, however, the court followed its reasoning in New Look.  This is not the end of the story by any stretch, with New Look subject to an appeal, and the Caffé Nero CVA subject to a challenge in the courts too.”

    About Us

    Mark Fennessy

    Partner

    London – 22 Bishopsgate

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