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
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.
James (Jim) D. Reardon has joined Porter Hedges as a partner in the tax section of the corporate practice group. He has a diverse practice, advising both public and private companies on minimizing tax liabilities to achieve specific operational and transactional objectives. He also provides a full range of services to individual and corporate taxpayers who are undergoing audits or challenging assessments on appeal with the Internal Revenue Service and state tax authorities.
As a counselor to closely-held partnerships, limited liability companies, S corporations, and their owners, he assists businesses reduce or eliminate federal corporate income taxation and achieve specific business goals. As a counselor to publicly-traded corporations, he advises with respect to the consolidated return rules, tax-free reorganizations, recapitalizations, and withholding tax issues.
Mr. Reardon advises foreign corporations making investments or conducting business in the United States with respect to U.S. tax issues such as the Foreign Investment in Real Property Tax Act, effectively connected income subject to U.S. income taxation, the branch profits tax, and dividend withholding tax. He advises foreign lenders with respect to the portfolio interest exemption and Foreign Account Tax Compliance Act. He also counsels U.S. corporations and their executives doing business or setting up legal entities overseas.
In the energy industry, Mr. Reardon represents oil and gas companies and other investors making strategic acquisitions or divestitures. He provides personal and corporate income tax advice with respect to the extraction, transportation and processing of natural resources in the upstream, midstream and downstream sectors. He also advises on financial products, physical commodities and cross-border withholding tax and transfer pricing issues where national tax authorities have focused on global trading and hedging operations in the energy industry.
Outside of the energy industry, Mr. Reardon has structured partnership profit interests, non-qualified deferred compensation plans, and other executive compensation arrangements. He has also helped tax-exempt organizations form joint ventures with private companies, advised technology companies raising seed capital, and structured international licensing and distribution arrangements.
With the Internal Revenue Service and state tax authorities focused on raising revenue, Mr. Reardon provides a full range of services to individual and corporate taxpayers who are undergoing audits or challenging assessments on appeal. His work includes eliminating interest and penalties and filing refund claims. He counsels companies on how to implement legislative, regulatory and accounting changes that affect their businesses.
- Represented Swiss Fund in disposition of $500 million Bakken Shale oil and gas assets.
- Represented Swiss Fund in disposition of California San Joaquin Valley oil and gas company.
- Represented Swiss Fund in acquisition of $40 million of oil and gas assets in Argentina.
- Represented Oman Oil Company in structuring disposition of $700 million of Kazakhstan oil and gas assets held in offshore entities.
- Represented public utility company in disposition of nuclear power facilities and with respect to sale-leaseback transactions involving co-generation plants.
- Structured sale of $1.6 billion pipeline partnership.
- Obtained private letter ruling on tax-free spin-off of telecommunications company.
- Structured sale of assets of $1.5 billion electronics distributor to Berkshire Hathaway.
- Advised offshore funds with respect to investments in the US.
- Advised US-based multinational companies on foreign holding company structures, including leverage, exit strategies and foreign tax credit management.
He received his J.D. from Boston College School of Law, LL.M. in Taxation from New York University School of Law, LL.M. in Corporate Law and Taxation from Universidad Pompeu Fabra (Spain), and an A.B. from Georgetown University.
Jessica Tien has relocated with EY from Shanghai back to San Francisco, where she spent much of her early career.
Jessica is a highly regarded Transfer Pricing specialist and her articles are regularly published. She leads the Greater China Transfer Pricing practice, comprising around 200 staff across 12 locations in China, HK and Taiwan. Jessica has helped companies in finalizing bilateral APAs in China with Japan, Korea and the U.S. and advised global leading companies in operating in China. She has also supported several global IPOs by China-headquartered companies.
Her new role involves leading EY’s bilateral U.S./China transfer pricing initiative from the perspectives of both countries. Her international tax practice also includes facilitating China-headquartered companies to invest in the Americas and advising the US-headquartered companies in Operating Model Effectiveness (OME) to accomplish tax-efficient operations in Asia Pac.
Hamilton Forrest has decided to return to Fladgate as a Tax Partner, having spent 3 years and 7 months with Rosenblatt.
Hamilton started his career with PwC, and then moved to CMS Cameron McKenna, where he spent the next 10 years. in 2008 he joined Fladgate and was made a partner, only to leave 2 years later.
Hamilton advises on all aspects of UK and international commercial tax matters, including both tax planning and transactional/structuring advice.
He concentrates on real estate taxation, investment structuring (including fund formation) corporate work (M&A, private equity, joint ventures etc) both in the UK and overseas, employee tax, global mobility and incentive schemes.
Hamilton has written the chapter relating to the UK transfer pricing rules in Prix de Transfert and authored (in part) the tax chapter of the PLC tax manual on management buyouts.
- Providing VAT, SDLT and Construction Industry Scheme advice in relation to property acquisitions and disposals and property development for entities such as Taylor Wimpey, Berkeley Homes, Pegasus Retirement Homes plc, Department of Transport, Prudential and Virgin.
- Advising BP on the sale of the entire issued share capital of BP Nederland Energie B.V.
- Advising Syral SA on its acquisition of Tate & Lyle companies in the UK, Ireland, France, Spain, Italy, Belgian, Luxembourg and Bosnia Herzegovina.
- Advising Advent International on its acquisition of a 65% stake in Bulgarian Telecoms Company AD from the Government of Bulgaria.
- Advising BP Trinidad and Tobago LLC on the sale of interests (including exploration licences and platforms) in shallow horizons offshore Trinidad.
- Advising the buyer on the acquisition of the Health Lottery.
- Advising the seller on the sale of Channel 5 to Viacom.
- Advising the seller on the sale of the US edition of the OK! Magazine.
- Advising companies, NOMADs and an investment bank in connection with IPOs and secondary issues.
- Acting for a bank being investigated by the Special Compliance Office.
- Advising Channel 5 on its “Celebrity Big Brother” contractual arrangements.
- Handling a Revenue enquiry into a major US broadcaster’s dual employment contract arrangements for one of its journalists.
- Advising C-suite executives taking up overseas roles on the application of the Statutory Residence Test and the tax position relating to stock option grants and share awards.
- Advising listed and private companies on the establishment of share incentive arrangements.
- Advising Aberdeen Asset Management in connection with a multi-million pound settlement agreement.
McDermott announced this week that Alysse McLoughlin has joined the Firm as a partner in its State and Local Tax group, resident in the New York office. In addition, the Firm welcomes Richard Call, formerly with Morrison Foerster, as Counsel in the same group in New York.
Ms. McLoughlin has broad experience advising clients on state and local tax issues, and particular skill working with financial services companies. Mr. Call focuses on state and local tax litigation before administrative and judicial bodies, at all levels and in multiple states, with respect to income, franchise, gross receipts, and sales and use taxes. Ms. McLoughlin, who practiced at McDermott from 1996 to 2006, returns to the Firm from Barclays, where she served as the company’s Head of State Tax for six years. In this role, she was responsible for all state taxes at Barclays, including income, franchise, sales and use, and excise tax issues. Her responsibilities included establishment of state tax return filing positions and reserves, participation in the financial statement process, and the handling of all state tax audits.
After her time with McDermott, Ms. McLoughlin worked at the Internal Revenue Service (IRS) as an attorney in the Chief Counsel division. After the IRS, she served as state tax counsel at Lehman Brothers in New York. Ms. McLoughlin joined Barclays Capital after Lehman filed for Chapter 11 bankruptcy protection in September 2008.
Mr. Call has focused on state and local tax at large firms for several years. He is a frequent publisher on state and local tax issues and has spoken on state and local tax issues in multiple forums.
“We’re delighted that Alysse and Richard have both decided to join the Firm at this time, as we continue to strengthen our world-class team of state and local tax practitioners,” said Jane May (pictured), partner and head of McDermott’s State and Local Tax Practice Group. “Alysse’s in-depth experience both as a practitioner and head of the state tax department of a prominent financial institution will enable us to enhance the sophisticated service we provide to our clients. Rich’s experience will be particularly valuable to our clients as they consider business restructurings and the impact of new state legislation on their current business operations.”
Ms. McLoughlin is admitted to the New York State Bar. A graduate of Fordham University School of Law, she received her LL. M. from New York University School of Law and her Bachelor’s degree from SUNY Binghamton. Mr. Call is admitted to the New York State Bar. He is a graduate of New York University School of Law. He received his LL. M. and B.A. from Brigham Young University.
Baker Tilly TFW has announced that Mr Loh Eng Kiat joined the Firm’s expanding tax team on 11 August 2014.
Eng Kiat will be admitted as a tax partner with effect from 1 September 2014 and will be an additional resource for the firm’s existing corporate and international tax capabilities.
Eng Kiat comes to Baker Tilly TFW with more than 10 years’ experience at PwC, providing corporate tax solutions (both compliance and advisory) to businesses from start-up companies to multinationals. His experience includes advising businesses involved in food & beverages, software offerings, semiconductor segments, commodities, lifestyle offerings, professional services, etc. He was formerly a senior manager at an international public accounting firm, where he delivered projects of diverse technical nature including compliance-based engagements, due diligence, post-deal restructuring, incentive negotiation, transfer pricing and supply chain modelling. He graduated from the Nanyang Technological University, Singapore with a bachelor’s degree (first class honours) in accountancy.
“We are delighted to welcome Eng Kiat to the Baker TiIly TFW team,” said Managing Partner Mr Sim Guan Seng. “Eng Kiat is a highly versatile tax practitioner and brings a strong track record of providing corporate tax solutions (both compliance and advisory) to clients from a wide spectrum of industries. Eng Kiat’s appointment is a clear demonstration of our commitment to strengthen the firm’s service offerings and support the growing needs of our clients.”
Commenting on his appointment, Eng Kiat shared, “I am thrilled to be joining the Baker Tilly TFW team. The global (and to some extent, regional) tax environment is going through a significant flux and the market need for tax services will likely magnify and become more diverse. As a second tax partner together with Ms Boey Yoke Ping (the Tax Practice Leader) and the larger multi-disciplinary team led by Guan Seng, I look forward to augmenting our aspirations and capabilities to fulfil our clients’ needs for a more expansive range of tax services.”
The international law firm Greenberg Traurig LLP has brought Matthias Edrich on as a shareholder to join the firm’s Tax practice and to support the Public Finance practice.
He is based in the Boston and Denver offices but serves clients nationally. Edrich advises state and local governments and nonprofit and for-profit clients concerning federal tax treatment of municipal bonds and corporate securities offerings, tax credit matters and has significant experience representing issuers in connection with Internal Revenue Service audits of tax advantaged financings. He also advises clients in connection with 501(c)(3) and other types of tax exemption applications concerning the formation of nonprofit corporations. Prior to joining Greenberg Traurig, Edrich served as tax partner at Kutak Rock.
“We are pleased to welcome a recognized leader in the tax and public finance areas,” said Terence P. McCourt, Managing Shareholder of Greenberg Traurig’s Boston office. “Matthias’ experience and legal knowledge are a great asset to our clients.”
Edrich also has experience providing tax advice with respect to financings for traditional state and local governmental facilities, hospitals and senior living facilities, development districts, student loans, residential rental housing facilities, manufacturing facilities, alternative energy and solid waste facilities, transportation, schools, libraries and fire districts. He has assisted with structuring New Market Tax Credit and Low Income Housing Tax Credit financings and financings relating to the investment tax credit and production tax credit for alternative energy projects. He frequently represents issuers in connection with Internal Revenue Service audits relating to tax-exempt bonds.
“Matthias brings a great deal of experience in tax-exempt financing and exempt organizations,” explains David G. Palmer, Managing Shareholder of Greenberg Traurig’s Denver office. “He has significant national reach in these areas of law, he understands our clients’ tax and financing needs, and will further support the firm’s strong reputation as a national leader in tax and public finance law.”
Edrich earned his LL.M. in Tax, his J.D. and MBA from the University of Denver and his B.S. from the University of Colorado at Boulder. Edrich currently serves as Vice Chair of the Tax Committee of the National Association of Bond Lawyers. He also served as an officer for the German American Chamber of Commerce – Colorado Chapter and provides general legal advice to German organizations interested in conducting business in the United States. Edrich is fluent in German and worked and lived near Munich, Germany.