Clifford Chance Advises Nakheel on Landmark Restructuring

Clifford Chance has advised Nakheel PJSC on the successful restructuring of liabilities in a total amount in excess of US$16bn, which closed last week. The amount and the nature of the liabilities involved and the large number of creditors made this one of the most complex restructurings in the region to date requiring the assistance of a large multi-disciplinary team. The restructuring also included the legal separation of the Nakheel PJSC group from the rest of the Dubai World group.

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Tags:  Clifford Chance LLP | Dubai

Chadbourne & Parke Represents Mexican Government Mortgage Lender Fovissste In Large Cross-Border Securitization

Chadbourne & Parke LLP represented Mexican government mortgage FOVISSSTE in two recent large deals. The first deal, completed on August 8, was a private cross-border mortgage backed securitization worth approximately US$450 million. The second deal, completed on August 22, was an approximately $US325 million issuance of its TFOVI program in the Mexican Stock Exchange.

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Tags:  Mexico City

Davis Polk Advises PepsiCo, Inc. on Its $1.25 Billion Notes Offering

Davis Polk advised PepsiCo, Inc. on its registered offering of $500 million aggregate principal amount of 0.8% senior notes due 2014 and $750 million aggregate principal amount of 3.0% senior notes due 2021. BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering.

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Tags:  Davis Polk & Wardwell LLP | New York

McDermott Helps Protect Women’s Property and Inheritance Rights in Kenya

A transatlantic team of attorneys from the international law firm McDermott Will & Emery LLP, in partnership with lawyers from Firm client Caterpillar Inc. (NYSE:CAT) and the non-profit Lawyers Without Borders (LWOB) have joined together to produce a critical and comprehensive report on the land and property laws and inheritance and succession rights for disenfranchised women and children in Kenya entitled Kenya: Property, Inheritance & Succession Rights. The critical report includes strategic recommendations to help alleviate discrimination against women and expand access to justice within the court system.

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Tags:  McDermott Will & Emery LLP

Corporate Attorney Michael Flynn Joins Gibson Dunn’s Orange County Office

Gibson, Dunn & Crutcher LLP is pleased to announce that Michael Flynn has joined the firm’s Orange County office as a partner.  Flynn was formerly a partner at Stradling Yocca Carlson & Rauth, where he served as chair of the Corporate and Securities Practice.  He will continue his corporate practice with an emphasis on mergers and acquisitions and capital markets transactions.

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Tags:  Gibson, Dunn & Crutcher LLP | Los Angeles

Dinsmore Opens Fourth Office in West Virginia

Dinsmore is pleased to announce that it has expanded its presence in the Mountain State with a new office in Lewisburg, West Virginia. Partner Jason Long assumes the role of managing the office and makes the switch from the firm’s Morgantown location.

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Tags:  Dinsmore & Shohl LLP

Continental Transfert Wins Right to Enforce $423 Million Arbitration Award Against Nigeria

On August 3, 2011, a Nigerian company, Continental Transfert Technique Limited (“Continental”) won the right to enforce an arbitration award of 29.6 billion Nigerian naira (approximately US$252 million at the time of the award and US$423 million after interest is included) against the Government of Nigeria.  The U.S. District Court for the District of Columbia granted summary judgment to Continental confirming the arbitration award under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards.  This will allow enforcement of the award in the United States.

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