Paul Hastings Represents PICI in Creation of World’s Largest Shark Sanctuary

Paul Hastings LLP, a leading global law firm, announced today that it has advised the Pacific Islands Conservation Initiative (PICI) in a pro-bono effort to establish regulations that create a shark sanctuary in the Cook Islands. The regulations prohibit certain commercial fishing activities within the Cook Island’s exclusive economic zone (EEZ)—an area of ocean approximately 1.9 million square kilometers (756,000 square miles) in size—that threaten sharks, and ban the possession, sale, and trade of shark and shark products. This newly established protected area neighbors the shark sanctuary recently announced by Tahiti Nui (French Polynesia), and will connect with the EEZs of American Samoa and Tokelau to create the largest contiguous shark conservation area in the world—an area over 6.7 million square kilometers (2.6 million square miles) in size.

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White & Case Advised on US$625 Million Facilities Agreement for the Acquisition of Scotsman Industries by Ali Group

Global law firm White & Case LLP has advised Bank of America, N.A., BNP Paribas S.A. and other financial institutions, in connection with the Italian, German and Finnish law aspects of a US$625 million term and revolving facilities agreement for the acquisition of Scotsman Industries, Inc. by Ali Group North America Corporation. The facilities were guaranteed by Italian parent company Ali S.p.A. and granted to its subsidiary Ali Group North America Corporation, as borrower.

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DLA Piper Expands German Restructuring Practice

DLA Piper is strengthening its German restructuring practice through the recruitment of partners Dr Dietmar Schulz and Mike Danielewsky. At the beginning of the New Year, the two are moving from Salans LLP into the Frankfurt office of DLA Piper.

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DLA Piper Represents Trident Microsystems in Confirmation of Chapter 11 Plan

DLA Piper served as lead counsel to Trident Microsystems, Inc., a publicly traded leader in the semiconductor sector in the digital television and set-top box industries, along with its 15 subsidiaries in the Cayman Islands, Asia and throughout Europe, as its Chapter 11 plan was confirmed by the US Bankruptcy Court for the District of Delaware. The plan will return a distribution of 90 percent to unsecured creditors of the Cayman Island company and 100 percent to unsecured creditors of the US parent company, and will provide a substantial return to equity holders of the US parent company.

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