Walter Investment Management Corp. completed its acquisition of GTCS Holdings LLC (“Green Tree”)  on July 1, 2011 in a transaction valued at $1.065 billion.  Walter Investment  issued  approximately 1.8 million shares of common stock to the seller, assumed  approximately $20 million of existing Green Tree debt, issued $810  million of new debt and utilized cash on hand to effect the acquisition.  Green Tree, based in St. Paul, Minnesota, is a leading independent, fee-based business services company which provides high-touch, third-party servicing of credit-sensitive consumer loans.

Davis Polk is advising Ruby Tuesday, Inc. in connection with the appointment of Steven R. Becker and Matthew A. Drapkin as members of its board of directors and the related settlement agreements with Becker Drapkin Management, L.P. and Carlson Capital, L.P. who had previously notified Ruby Tuesday of an intent to nominate three directors at its 2011 annual meeting. In connection with the appointment of Messrs. Becker and Drapkin to the board of Ruby Tuesday, Becker Drapkin has agreed to withdraw its nomination of Messrs. Becker, Drapkin and Michael Brodsky to the board of directors and to vote in favor of each of the board’s nominees for election at the 2011 Annual Meeting of Shareholders. In addition, both Becker Drapkin and Carlson Capital have agreed to certain standstill restrictions.

Hogan Lovells has advised The African Export-Import Bank (Afreximbank) and Dinosaur Securities (UK) Ltd as co-arrangers of an issue of US$50 million guaranteed 8.5% bonds, due 2014, by CBZ Bank Limited (CBZB), Zimbabwe’s largest bank. The bonds were listed and admitted to trading on the Cayman Islands Stock Exchange on 20 June 2011.

JBS is the world’s largest meat company.  The financing, which closed on Thursday 30 June, was structured as a revolving ABL (asset based loan) with a facility limit of US$850 million. Availability under the facilities is calculated as a percentage of eligible accounts receivable and inventory.  The size, structural complexities and cross border issues involved made this a landmark deal in the ABL space.

Arent Fox LLP won a major victory on June 23 for its client, the President of the Republic of Rwanda Paul Kagame, when the US District Court for the Western District of Oklahoma denied a plaintiffs’ motion for default judgment in a wrongful death suit by the widows of the deceased presidents of Burundi and Rwanda, who were killed in an airplane explosion in 1994.

Goodwin Procter served as legal counsel to client ANSYS, Inc., a global innovator in simulation software and technologies designed to optimize product development processes, on its acquisition of Apache Design Solutions, Inc., a leading simulation software provider.

Hogan Lovells advised long-time client News Corporation on its sale of  online social networking company MySpace to Specific Media, a digital media company. As part of the transaction News Corporation will retain a minority equity stake in Specific Media.