A multi-disciplinary team of Dechert attorneys recently finalized a long-standing matter allowing a sovereign wealth fund to purchase numerous hotel assets out of the high profile bankruptcy of CNL/MSR Resorts. The firm has represented this client since 2006 when it made its initial loan to CNL/MSR, which was indirectly secured by five high-end luxury resorts (including the iconic Arizona Biltmore and the Grand Wailea in Hawaii). CNL/MSR Resorts filed for Chapter 11 on February 1, 2011 and the firm worked with this client to make an offer to buy the assets owned by the Debtors within a week after the filing. That initial offer was rebuffed and so began a two-year process to gain control of the resorts.

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Akin Gump Strauss Hauer & Feld LLP advised OneRoof Energy, Inc. in the acquisition of $100 million in new financing.

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Paul, Weiss client Swiss Reinsurance Company Ltd completed an offering of $750 million of subordinated contingent write-off loan notes with a scheduled maturity in 2024. The loan notes can be permanently written down to zero, and investors lose their principal if the solvency ratio of Swiss Reinsurance Company Ltd falls below a predetermined threshold. The loan notes were issued through a so-called “repackaging vehicle.” The offering was Regulation S only.

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The Firm represented Cedar Fair, L.P. (“Cedar Fair”) in restructuring its secured bank and high yield debt profile. The concurrent refinancing transactions by Cedar Fair included (i) the termination of its existing senior secured credit facilities and the entry into a new $630 million senior secured term loan credit facility and a new $255 million senior secured revolving credit facility; and (ii) a private placement, including registration rights for the investors, of $500 million aggregate principal amount of 5.25% Senior Notes due 2021 conducted in reliance on Rule 144A and Regulation S.

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The Firm recently advised the underwriters, led by Citigroup Global Markets Inc. and Goldman, Sachs & Co., on the initial public offering of Class A common stock of Artisan Partners Asset Management Inc. Artisan Partners’ shares are now listed on the New York Stock Exchange under the ticker symbol “APAM”.

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Mayer Brown, a leading global law firm, announced today that Joel Moss has joined the firm in New York as a partner in the Restructuring, Bankruptcy & Insolvency practice. Previously, Mr. Moss was a director at Barclays in New York, where he handled bankruptcy and restructuring matters in the US.

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Travelport, a leading provider of critical transaction processing solutions and data to global travel companies, and American Airlines, a wholly owned subsidiary of AMR Corporation, today announced that they have resolved all litigation between the two companies, and that they have reached a new long-term, global distribution agreement that enables continued access to shop and book American Airline flights via Travelport. Dechert LLP represented Travelport with respect to the two-year old litigation and advised the company with regard to the new commercial agreement. The terms of the settlement agreement require review and approval by the bankruptcy court presiding over AMR Corporation’s restructuring.

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McDermott Will & Emery LLP today announced that leading corporate dealmaker Brian Hoffmann has rejoined the Firm as a partner based in its New York office. Mr. Hoffmann, who was previously Co-Chair of the M&A practice in the Americas at another international law firm, has more than 30 years of experience advising clients on dozens of public and private transactions.

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DLA Piper announced today that Paul R. Gupta has joined the firm’s Litigation and Intellectual Property and Technology practices as a partner in New York.

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The Firm represented the underwriters, led by J.P. Morgan and Wells Fargo Securities, in an offering of an additional $200 million of 4.750% Senior Notes due 2021 by Tupperware Brands Corporation (“Tupperware”). The additional notes constituted a reopening of the $400 million aggregate principal amount of notes initially issued on June 3, 2011. The notes are guaranteed on a senior secured basis by Tupperware’s wholly-owned subsidiary, Dart Industries Inc. The collateral securing the Guarantee consists of certain Tupperware® trademarks and service marks owned by Dart.

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