Cornelia Schnyder has joined Andersen Tax in Washington, D.C. as a Managing Director in the firm’s National Tax Office.
This is the fifth addition to the Andersen Tax National Tax Office in the past year.
Cornelia has over 17 years of experience focused on tax issues affecting partnerships and other passthrough entities and their owners.
Before joining Andersen Tax, Cornelia held several positions with the federal government. Most recently, she was a Special Counsel to the Associate Chief Counsel (Passthroughs and Special Industries) at Internal Revenue Service’s (IRS) Office of Chief Counsel. In that role, she had responsibility for regulations and other administrative guidance ranging from partnerships, S corporations, trusts, energy credits, and excise tax issues as well as assisted the IRS and the Department of Justice in litigation matters. She was also an Attorney-Advisor in the Office of Tax Legislative Counsel at the U.S. Department of the Treasury (Treasury), where she worked on tax reform issues and various partnership and S corporation projects, including regulations for the net investment income tax.
Prior to joining the IRS and Treasury, she was counsel with McKee Nelson LLP, advising large companies in transactions involving partnership, corporate, consolidated, and foreign tax issues. She also assisted in tax controversy matters. She began her career as an Attorney-Advisor to Judge Wright of the United States Tax Court.
“We are excited to have Cornelia join the practice. She brings a wealth of experience with Sub K, Sub S, and the new NII tax, and will be a terrific resource for our clients,” said Mark Vorsatz, Andersen Tax CEO.
“Cornelia’s deep experience in passthroughs, in both government and the private sector will add a dimension to our National Tax team,” said Ellen MacNeil, leader of the Andersen Tax National Tax Office. “We are focused on building the depth and range of specializations of our National Tax Office and having Cornelia join our firm demonstrates our commitment.”
Cornelia received a Bachelor of Science in Accounting from Jacksonville University and a Juris Doctorate and a Master of Laws in Taxation from the University of Florida Levin College of Law. She is a member of both the Florida and District of Columbia Bars.
PwC has appointed Bradley Phillips as an asset management tax director. Bradley will focus on advising investment funds and asset managers on a range of tax issues.
Bradley has nearly 25 years of experience in tax and joins from Herbert Smith Freehills LLP where he was a tax partner mainly focussed on M&A and other corporate transactions, tax disputes and investment funds.
He currently sits on the LexisNexis Tax Professional Support Lawyer (PSL) Board and was previously Chair of the City of London Law Society Revenue Law Committee.
Tim McCann, asset management tax leader at PwC, commented:
“I am delighted that Bradley is joining our team. Bradley’s expertise will benefit our clients across a whole range of tax issues which are currently affecting investment funds and asset managers.”
His new role will focus on:
• Structuring listed investment funds (including UK investment trusts and offshore funds)
• Private investment funds (including private equity, real estate and debt funds)
• Advising asset managers on structuring their own affairs (including carry structures)
• Asset manager M&A transactions
Akin Gump issued a press release yesterday confirming that the London and Frankfurt offices of Bingham McCutchen will join the Firm. In additional some partners from Hong Kong are also moving across. The total number of partners switching allegiance is 22 and more lawyers are expected to follow.
Sebastian Rice, who will be managing partner of Akin Gump’s London office, commented, “The synergies of our combined international practices, together with the incoming team’s strength in London, make this union strategically compelling. The combined European and Asian capabilities will not only considerably improve our client offerings in multiple jurisdictions, but also provide significant leverage in terms of our ability to present ourselves to potential clients here in London, in Hong Kong and in established and emerging markets across the globe.”
The only tax partner known to be moving at this stage is Stuart Sinclair.
Stuart advises on all aspects of corporate tax, focusing on domestic and international restructurings and reorganisations, mergers and acquisitions, structured finance arrangements, and financial instruments. He is recommended in leading industry publications including Chambers UK, Chambers Europe and Chambers Global. Experience includes:
- Represented the noteholders on the €1.3 billion financial restructuring of the Quinn Group, one of the largest multijurisdictional corporate groups in Ireland
- Advised a US-based distressed debt firm in connection with the restructuring of £500 million of debt in Crest Nicholson Holdings Limited, the parent of one of the UK’s largest house builder groups
- Advising a worldwide bondholder group in respect of the nationalisation and restructuring of three major Icelandic banks — Kaupthing, Landsbanki and Glitnir
- Advised the mezzanine consortium, headed by Apollo, Cerberus, Park Square Capital and Goldman Sachs, on the £2.6 billion restructuring of Britain’s largest betting and gaming group, the Gala Coral Group
- Advised an ad hoc committee of senior secured noteholders on the debt restructuring and English law administration sale of Wind Hellas, a Greek telecommunications company
Advised a group of senior lenders on the financial restructuring of Monier, a German roofing company
- Advised Grandtop International Holdings Limited, the offeror, on the acquisition by way of public takeover of UK-based Birmingham City Football Club
- Advised Japan-based Sumitomo Precision Products Co. Ltd. in its $56.6 million acquisition of Aviza Technology Inc., a semiconductor equipment producer headquartered in California
- Advised the noteholders on the financial restructuring of Technicolor S.A. (formerly Thomson S.A.), a French media company
Gray Reed & McGraw has announced the addition of tax attorney Dan Kroll to the firm’s Houston office.
Dan’s practice concentrates on federal income tax, partnership and corporate law matters, primarily for private companies. Dan has particular expertise in tax, structuring and business issues facing the real estate industry from the developer’s perspective, as well as high net worth individuals and many other private businesses. Prior to joining Gray Reed, Dan was a partner and served for 20 years at Baker Botts.
Dan frequently counsels clients regarding the tax-efficient structuring of real estate investments and other joint ventures, as well as private business acquisitions and dispositions. Dan has special emphasis on partnership merger and acquisition transactions and compensating key employees through equity and bonus arrangements.
His diverse practice includes advising on joint venture formations and operations with pension funds and other tax exempt entities with respect to unrelated business income tax matters involving US and Canadian real estate investments by non-US persons. Dan regularly advises on “qualifying income” for real estate investment trusts and “dealer gain” issues for all types of real estate investors.
“Over the last 20 years, I have learned that my passion is getting to know and represent clients as individuals and partner with them to achieve their objectives in an efficient and direct manner,” Kroll said. “Gray Reed provides a platform for me to better serve my clients and to expand my practice to do more of the work I want to do. I’m looking forward to the next 20 years.”
Kroll is also a certified public accountant and an adjunct professor of law at the University of Houston Law School, where he teaches federal income tax consequences of real estate investments and transactions to L.L.M. students.
“Dan’s goals align very well with Gray Reed’s,” Gray Reed President and Managing Director Cary Gray said. “His work is highly respected and we are delighted he has chosen to join Gray Reed. His presence complements our tax practice and brings a new level of depth and expertise for our clients.”
Founded in 1985, Gray Reed & McGraw is a full-service, Texas based law firm with more than 120 lawyers practicing in Dallas and Houston.
Ogier have announced that Caroline Bormans joined the Luxembourg office as a partner on 15 September 2014.
Caroline specialises in corporate tax, international tax structuring, mergers & acquisitions and relocation of companies, optimization of intellectual property rights, tax aspects of real estate investments, acquisition of distressed debt and all tax matters related to investment funds.
Caroline has extensive experience having worked for a Luxembourg corporate law firm as well as for EY and Deloitte in Belgium and Luxembourg and at her own boutique legal practice, CB Law, focusing on tax and general business law.
François Pfister, managing partner of Ogier Luxembourg said: “I am really delighted that Caroline has decided to join our team. We worked together in the past and I am sure that Caroline will be instrumental to the growth of our firm. Her experience, technical expertise and commercial mind set will further strengthen Ogier in Luxembourg”.
Caroline Bormans said “This is an exciting time to be joining Ogier in Luxembourg. The business has quickly established a reputation for providing top quality advice to its clients and I am looking forward to working with Francois, Dan and the whole Ogier team.”
Global Managing Partner, Nick Kershaw added “Our first 18 months in Luxembourg have been tremendously successful and Caroline’s appointment gives us greater breadth and depth to our services for our Luxembourg clients.”
Caroline speak English, Dutch, French, German and Luxembourgish fluently.
Houlihan Lokey, the international investment bank, has announced that Tomasz Stefanowski has joined the firm as a Managing Director in its New York Tax and Financial Reporting Valuation Services (TFR) practice within Financial Advisory Services (FAS).
Mr. Stefanowski joins from Duff & Phelps, where he held a number of roles over the past 13 years, most recently as a Managing Director in the firm’s Valuation Advisory Services group. During that time, he worked on a range of valuation issues for both financial sponsors and corporates including business enterprise valuation, goodwill impairment, capital structure and legal entity valuation, and private equity mark-to-market assignments. Mr. Stefanowski began his career in 1997 in PwC’s Corporate Value Consulting group.
Mr. Stefanowski’s appointment closely follows the addition of Gregory Manos, a Director from Alvarez & Marsal, to the firm’s TFR practice in Los Angeles last month. “We continue to see strong demand for comprehensive, independent valuation expertise from both our private equity and corporate clients around the world,” said Jack Berka, Global Head of FAS. “We’re delighted that Tomasz has joined the firm and we’re confident that he will help substantially grow Houlihan Lokey’s TFR practice in New York,” he continued.
“As market dynamics and regulatory changes put increasing pressure on corporations and private equity funds to understand the value of their businesses and assets, a trusted valuation professional is more essential than ever,” said Mr. Stefanowski. “I’m excited to have joined Houlihan Lokey, and I look forward to working with my colleagues to deliver this critical service to our exceptional client base,” he added.
Mr. Stefanowski holds a B.S. in Finance and International Business from New York University and an MBA from the Stern School of Business at New York University.
Kilpatrick Townsend & Stockton has hired Vanessa Tollis from Gide Loyrette Nouel to chair its international tax team in New York.
Vanessa Tollis specializes in the U.S. tax aspects of cross border transactions (inbound and outbound). As Chair of Kilpatrick’s International Tax Practice, Ms. Tollis regularly advises a wide range of U.S. and foreign clients on tax issues including advising sponsors and participants in the global capital markets on securities offerings and tax efficient structured finance, including cross border securitizations.
She counsels funds and investors on tax issues associated with structuring funds and other joint ventures in addition to advising corporate clients on a broad range of key U.S. international tax issues, including U.S. trade or business thresholds, tax treaty application, withholding taxes, entity classification, debt/equity characterization, Passive Foreign Investment Company (PFIC), Controlled Foreign Corporations (CFC) and Subpart F, Foreign Investment in Real Property Tax Act (FIRPTA), the Foreign Account Tax Compliance Act (FATCA) regime, and a broad range of domestic tax rules. Ms. Tollis also has significant experience in related non-tax transactional work, including general corporate and secured transactions.
The Association of the Luxembourg Fund Industry (ALFI) has appointed Marc-André Bechet as director of its legal and tax division, effective 15 September.
Bechet previously served as head of the investment funds services at Banque Degroof Luxembourg, where he has responsible for fund administration and custody. His early career was spent with Dexis Banque.
Camille Thommes, director general at ALFI, said: “Marc-André has extensive experience of the investment fund industry’s legal, regulatory and tax environment and he will be a valuable addition to our team.”