Click here to login, 2023, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). [20], The firm placed #41 on The American Lawyer's 2021 AmLaw 200 ranking. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Private equity sponsors have led this charge, and some players have recently begun exploiting contractual loopholes to seize value in distress scenarios. Before his retirement in 2020, Wachter established himself as one of the premier scholars in the field of Labor Law and Economics and then later in Corporate Law and Corporate Finance. Familiar judicial norms and practices calibrated to an environment with influential senior lenders may not be optimal for an environment in which sponsors set the agenda. 877 (2016). He very kindly volunteered to support my federal clerkship applications with a recommendation letter; I will never forget that he asked me to write the first draft (at first I thought he was joking but he was not). Delaware Court of Chancery Reaffirms that Merger Disclosure Claims Should be Brought Before, Not After, Closing, in Harvard Law School Forum on Corporate Governance and Financial Regulation, October 1, 2016. Wachtell Lipton is dedicated to providing advice and expertise at the highest levels and achieving extraordinary results for our clients. He has been involved in numerous major corporate merger, acquisition and buyout transactions, strategic defense assignments, hostile bids and proxy contests. It was never about building his reputation.. From the outset, Marty Lipton has taken an unusually scholarly approach for a busy corporate lawyer, one that reflects his belief that the law will better serve the public interest if practitioners, academics, and policymakers share ideas and learn from each other in a respectful, ongoing dialogue. Morgan, Lewis & Bockius LLP Philadelphia, PA, Senior Managing Director Evercore New York, NY, Chairman & CEO MacKenzie Partners, Inc. New York, NY, Co-Chair, 2008-2019Former Partner Simpson Thacher & Bartlett LLP New York, NY, Founding Member, Blue Raven LLP New York, NY, Richards, Layton & Finger, P.A. But sponsors have successfully negotiated for loose debt contracts that preserve the optionality that is often necessary in the precarious post-LBO world. Concluding Remarks, The University of Pennsylvania Law Review is partnering with Professor Jasmine Harris and Professor Karen Tani to present a symposium entitled The Disability Frame: Opportunities, Costs, and Constraints in the Broad Struggle for Inclusion.. He initiated me into the then still somewhat novel subject of law and economics when I was a Penn Law student and took his classes in that area. In order to receive the appropriate amount of credit, passcodes provided throughout the program must be noted in your evaluation form. Search Penn Carey Law. Mr. Neff lectures frequently on topics relating to his professional interests, was featured in American Lawyers Dealmaker of the Year article in 2001, 2012 and 2015 and is listed in Chambers Global Guide, Chambers USA Guide, The Best Lawyers in America and Lawdragons 500 Leading Lawyers of America. is proud to present its annual symposium on a timely legal topic. The family suggests that contributions in Michaels memory be made to the Michael Wachter Endowed Business Law Fund at the University of Pennsylvania Carey Law School or to the charity of your choice. This program has been approved for 7.0 Substantive CLE credits for Pennsylvania lawyers. Along the way, he became a trusted advisor to deans and university presidents, as well as a sought-after economic consultant for the National Science Foundation, the Council of Economic Advisors, the Congressional Budget Office, and the Federal Reserve System, as well as a Commissioner on the Minimum Wage Study Commission established by Congress. In honor of Wachters surpassing achievements, the Law School established the Michael L. Wachter Distinguished Fellowship in Law and Policy in July 2020, naming the Honorable Leo E. Strine, Jr. L88 to the position. If a speaker shows a slide, they will describe and explain what is on the slide. Years ago, Professor Wachter was able to envision how vigorous discussion could spark lively debate and lead to reconsideration of law and policy, said Larry Hamermesh, ILE Executive Director. Its purpose is to celebrate the work of a great scholar through contributions from colleagues and former students. CLE credit may be available in other jurisdictions as well. It is a sad moment to learn Prof. Wachter passing away. Although banks still hold a majority of leveraged loans, NBFIs are significant market participants, particularly in the non-investment grade loan sector. Peter N. Flocos (Penn affiliations: BA (College), BS (Wharton), JD (Law School); Adjunct Professor, Law School; Lecturer, Wharton), It was a privilege to have gotten to know and work with Professor Wachter as his student and then teaching assistant in fall 2013. As much as he launched the ILE into prominence, said Fitts, Michael also consistently gave me very thoughtful advice as a young academic, and later as Dean. Pro Bono's Not Just for Liberals Anymore", https://en.wikipedia.org/w/index.php?title=Wachtell,_Lipton,_Rosen_%26_Katz&oldid=1139414525, This page was last edited on 15 February 2023, at 00:59. His former students are among the most prominent practitioners and judges in the country, Fisch said. Law360 (January 29, 2020, 3:46 PM EST) -- Casino chain Penn National, steered by Wachtell, said Wednesday that it took a $163 million stake in the sports and pop culture brand Barstool. Moderator:Katherine Waldock,Millstein Center at Columbia, 10:45 to 12:15 p.m.Panel 2:Contracting Complexity and the Rise of Shadowed Practices: How Private Equity Dictates Outcomes. Litigation Associate at Wachtell, Lipton, Rosen & Katz New York, New York, United States 258 followers 257 connections Join to view profile Wachtell, Lipton, Rosen & Katz Activity After 1.5. By ALM Staff | April 26, 2022 at 10:03 AM. This panel will unpack all of the traditional and evolutionary tactics creditors are employing to protect their positions. In order to receive the appropriate amount of credit, passcodes provided throughout the program must be noted in your evaluation form. This program has been approved for 3.0 Substantive and 4.5 Ethics CLE credits for Pennsylvania lawyers. The Archive is a living one in the important sense that the website will be enriched by new writings and scholarship of Lipton, by additional archiving of existing materials, and further links to the Resource Center site as the Center builds new materials. Ed Rock L83 served alongside Wachter as co-director of the ILE. But Penn's dewy-eyed approach will frustrate anyone hoping for an incisive examination of the Zelensky phenomenon or a more level-headed, analytical approach to Ukraines massive challenges. During his remarkable 50-year career at Penn, Wachter taught at the Law School, the School of Arts and Sciences (Professor of Economics), and the Wharton School (Professor of Management) and served as the Universitys Deputy Provost. Partner Wachtell, Lipton, Rosen & Katz Jan 1991 - Present32 years 2 months Education University of Pennsylvania Carey Law School JDLaw 1981 - 1984 Activities and Societies: GAPSA; University of. Attendees seeking CLE credit must register for CLE credit and make a payment via the online. If Professor Burbank had never published another article, his position in the firmament of the field of procedure would have been secure. The Penn community lost a quiet giant, said Strine, a longtime Adjunct Professor at the Law School and now also Of Counsel at Wachtell, Lipton, Rosen, and Katz. Try our Advanced Search for more refined results. A native of Brooklyn, New York, Wachter joined the Penn faculty in 1970, after earning a masters degree and a PhD in economics from Harvard. Creditors are being pitted against other creditors in an ever-radicalizing model. Recent Matters Selected Highlights View More, 51 West 52nd Street, New York, NY 10019 [18] It has had key roles in the resurrection of Chrysler in the 1970s, the acquisition of Getty Oil by Texaco, and the negotiation of the master development agreement for the World Trade Center after the September 11, 2001 attacks. Professor Wachters passing is quite a loss for the Penn community in addition to, of course, his family and friends. Our deep experience means we regularly handle many of the largest, most complex and demanding transactions in the United States and around the world. For the Am Law 100 as a whole, average PEP . Wachtell, Lipton, Rosen & Katz: Headquartered in New York City, Wachtell, they are the only firm on this list that has a single office. Hewas emblematic of the movement to infuse a cross-disciplinary approach into legal education and other fields of study. My sincere condolences to the Wachter family and the Penn Law community. Please see our Privacy Policy. "[24] As of 2020, the U.S. News & World Report has ranked Wachtell as a tier 1 law firm in national and regional rankings in several practice areas: Banking and Finance Law, Corporate Law, Litigation, and Mergers & Acquisitions. He is a corporate and securities lawyer, and has focused on mergers and acquisitions and advice to boards of directors and board committees. Liked by Jill Barton Rivers of ink have been, rightly, spent on the events of the. 1 to 2 p.m. Keynote Conversation: Matt Levine, Bloomberg Opinion & Sujeet Indap, Financial Times, 2 to 3:30 p.m.Panel 3:Creditors Strike Back. We will orally identify ourselves when we are speaking. Daniel A. Neff is the co-chairman of the Executive Committee and partner in the law firm Wachtell, Lipton, Rosen & Katz, which he joined in 1977. Delaware Court of Chancery Clarifies Limits of Indemnification and Advancement for Directors and Officers in Lawsuits Relating to Post-Employment Conduct, in Harvard Law School Forum on Corporate Governance and Financial Regulation, November 18, 2015. When you think business law at Penn, you think Michael Wachter.. Wachtell Lipton enjoys a global reputation as one of the world's leading business law firms. That descriptor turns out to be apt as he veers from political naivety to volatile displays of emotion that blur the line between journalism and activism. REGISTRATION:https://pennlaw.zoom.us/webinar/register/WN_f6AAaLSrRnaAmWbFONw9iw. He is a corporate and securities lawyer, and has focused on mergers and acquisitions and advice to boards of directors and board committees. Academics. It also seeks to create a dialogue among scholars and practitioners of finance, bankruptcy law, capital markets, and economics. Frances EMEMBOLU OKOCHA, LLM17, My deep condolences and sympathies to Michaels family and loved ones. In addition, all of Liptons scholarly articles, and several of his important yearly writings (e.g., his Spotlight on Boards series) are available in chronological order. in Harvard Law School Forum on Corporate Governance, September 17, 2022. in Harvard Law School Forum on Corporate Governance and Financial Regulation, November 20, 2019. in Harvard Law School Forum on Corporate Governance and Financial Regulation, April 7, 2016. in Harvard Law School Forum on Corporate Governance and Financial Regulation, December 18, 2015. in The Harvard Law School Forum on Corporate Governance and Financial Regulation, November 30, 2012. in The Harvard Law School Forum on Corporate Governance and Financial Regulation, February 17, 2011. Sean Penn gives his Oscar to President Zelensky, says, When you win, bring it back to Malibu. pic.twitter.com/b2AvLxuKVc. Daniel A. Neff is the co-chairman of the Executive Committee and partner in the law firm Wachtell, Lipton, Rosen & Katz, which he joined in 1977. : The U.S. leveraged loan market, which stood at just over $100 billion two decades ago, caught up to the size of the U.S. high-yield bond market roughly $1.6 trillion in amounts outstanding in 2021. Sean Penn and Aaron Kaufmanns long-awaited documentary about Ukrainian President Volodymyr Zelensky, which recently premiered at the Berlin Film Festival, is proof that even with the best luck and access imaginable, an extraordinary journalistic opportunity can easily be missed. He was the von Clemm Fellow at Harvard University in 200405. Bondholders could demand the inclusion of provisions to better protect their positions and reduce the risk of equity sponsor gamesmanship. In the low-interest environment that has existed over the last 10 years, bondholders have been willing to go along in exchange for higher yields. Chien-Chung Lin, LL.M (2003-2004) and S.J.D. There are, however, some extraordinary moments, such as when Zelensky joins the crew in a Kyiv bunker on the morning of the invasion and calmly discusses the events unfolding in real time around them. A livestream will be available. Jad Kazan, LLM2012, L2014, I was in Prof. Wachters several classes from 2003 to 2005, including his corporate law, corporate finance, and seminar on advanced topics (with Prof. Strine). It is a loss for the law school and the whole corporate law community. ), Create custom alerts for specific article and case topics and, I took a free trial but didn't get a verification email. Walking through the rubble of a Kyiv kindergarten destroyed by a Russian missile, he reflects how incredible it is to think that all the devastation around him is due to the will of just one man. He was also among the first wave of scholars to embrace rigorous interdisciplinary approaches to legal scholarship, including historical, empirical, and comparative methods. We are using cookies to give you the best experience on our website. For more information, please reach out to Matthew Seelig at mseelig@pennlaw.upenn.edu. Spectra Energy Corp in its $28 billion merger with Enbridge Inc. El Paso in its $38 billion sale to Kinder Morgan, Unocal Corporation in its acquisition by Chevron Corporation for $19 billion, its response to an unsolicited merger proposal by CNOOC Limited and its acquisition of Pure Resources. There, he and his crew meet Ukrainian fighters in the trenches, with Russian forces just a couple of hundred meters away and the constant rumble of artillery in the background. Webmail, Contact Us | Directions | Calendar | Privacy & Legal Statements | Accessibility, Penn State Law - University Park | Lewis Katz Building, University Park, PA 16802, International Law Practice & Extracurricular Activities, Representations and Warranties Insurance in Public M&A Deals, The New New Regime in Delaware Appraisal Law, The Delaware Supreme Court Speaks to Market Evidence in Appraisal: DFC, Delaware Court of Chancery Reaffirms that Merger Disclosure Claims Should be Brought Before, Not After, Closing, Originalist or Original: The Difficulties of Reconciling "Citizens United" with Corporate Law History, Delaware Court of Chancery Clarifies Limits of Indemnification and Advancement for Directors and Officers in Lawsuits Relating to Post-Employment Conduct, Delaware Supreme Court Holds that Fully Informed Stockholder Approval of Third-Party Mergers Shields Transactions from Review, Conservative Collision Course? The Archive and the Lipton materials it includes have been open sourced so they are freely available to all. Airgas in its $13.4 billion acquisition by LAir Liquide S.A. Airgas in successfully defending against a $5.8 billion hostile takeover bid by Air Products and Chemicals, Rohm and Haas in its $18 billion sale to Dow Chemical, Actelion in its $30 billion acquisition by Johnson & Johnson and spin-off of Idorsia, which holds Actelions R&D pipeline, Medivation in its $14.6 billion acquisition by Pfizer, Allergan in its defense against a hostile takeover bid by Valeant Pharmaceuticals and its $66 billion acquisition by Actavis plc, Cooper Industries in its $11.8 billion combination with Eaton Corporation, Litton Industries Inc in its merger with Northrop Grumman Corporation, Vivendi Universal in its $7.8 billion acquisition of United States Filter Corporation. Brief Description: The U.S. leveraged loan market, which stood at just over $100 billion two decades ago, caught up to the size of the U.S. high-yield bond market roughly $1.6 trillion in amounts outstanding in 2021. Derailed by Ukraine suddenly being at war, Superpower is forced to become a very different film, and while it boasts some extraordinary footage of Kyiv in the first days of the invasion and several compelling one-on-one conversations with Zelensky, what follows is a jumbled sequence of events with a confusing timeline that lacks focus or direction. Anybody may type a question in the Q&A tab. Even now, I still remember the stomach ache and tension I experienced when he called on my name to answer questions in his corporate law class, which I rarely experienced in any other place around the world, and the excitement when he asked a question in his corporate finance course and I finally got it right (I mean correct but not approximately right) for the first time as the whole class remained silent. [21] The firm pays its partners through a lockstep system, meaning that compensation is tied to firm seniority, rather than hours billed or business brought in. Nicholas Walter | Penn State Law | University Park, Pa. Home | Faculty | Nicholas Walter Nicholas Walter Adjunct Professor of Law Email: 212-403-1385 Phone: NWalter@wlrk.com Education: J.D., Yale Law School M.A., Oxford University B.A., Oxford University Bio Courses Publications I always remember sitting in the first (or second row) of his class and hearing him calling students names to answer questions. 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