Governor Pataki, Other Firm Attorneys To Lead Team
New York, February 11, 2008 — LAWFUEL – Law Newswire – Building on its international reputation in energy and environmental issues, Chadbourne & Parke LLP announced today that it has formed a Climate Change practice to help clients with the legal and economic impact of global warming. The team will be spearheaded by former New York Gov. George E. Pataki and John P. Cahill, former Commissioner of the New York Department of Environmental Conservation, both of whom joined Chadbourne in 2007.
The practice will work for clients grappling with the ramifications of global warming as they seek to develop new business opportunities, energy sources and technologies, and to take creative approaches to climate change. It represents a natural progression of Chadbourne’s longstanding top tier work in its project finance, insurance/reinsurance, environmental and corporate practices.
Messrs. Pataki and Cahill worked on numerous climate change initiatives, including the adoption of the Regional Greenhouse Gas Initiative, implementation of the nation’s first green building tax credit, and programs to enhance the production and use of alternative energy like biodiesel, ethanol, fuel cells and clean coal. Governor Pataki is currently co-chairing the Independent Task Force on Global Climate Change, a project of the Council on Foreign Relations, and is focusing on climate change issues as a member of the U.S. Mission to the United Nations’ General Assembly.
“The opportunities presented by climate change correspond to some of Chadbourne’s biggest strengths. We have assembled a practice team that spans seven disciplines and encompasses more than 60 attorneys,” said Chadbourne Managing Partner Charles K. O’Neill. “With the debate about global warming now over, what do we do about it and when, are the critical questions we are now helping clients address.”
Chadbourne understands that climate change will present challenges and opportunities for a host of industries. Clients routinely call upon Chadbourne’s experience facilitating private equity investments and venture capital deals, capital markets access, temporary and long-term financing, and mergers and acquisitions of new or established enterprises. Chadbourne has already helped build industries where none previously existed in fields such as independent power and biofuels and in markets as diverse as Latin America and Central and Eastern Europe and Russia.
The multi-disciplinary Climate Change practice also draws on the experience of Chadbourne’s transactional, insurance, regulatory, energy, environmental, litigation and public policy attorneys, and includes expertise in market-based carbon cap and trade programs.
Key Partners in the Practice
In addition to Messrs. Pataki and Cahill, other attorneys playing key roles in the practice are insurance and reinsurance partner Joy Langford and environmental partner Andrew Giaccia, both of the Washington, D.C., office; project finance partner Todd Alexander and corporate partners Kevin Smith, Sey-Hyo Lee and Jonathan Melmed, all of the New York office; Edward Zaelke and Adam Umanoff of the Los Angeles office; and David Schumacher in Houston. Also playing roles in the practice will be Denis Petkovic and Agnieszka Klich in London, Laura Brank in Moscow, Jack Greenwald in Dubai and Igor Muszyński in Warsaw.
Chadbourne’s Market Presence
For many years, Chadbourne has been one of the most visible U.S. law firms in the corporate, insurance and reinsurance, and renewable energy practices. Chadbourne has long been acknowledged for its leading role in renewable fuels and recognized as one of the leading firms in the wind energy, ethanol and solar industries.
For example, Chadbourne:
Served as national coordinating counsel on all reinsurance issues arising out of Hurricane Katrina for one of the country’s largest property and casualty insurance companies.
Designed a risk insurance product for the Overseas Private Investment Corporation in connection with its participation in the $300 million long-term project bond issuance to finance the acquisition by AES of Cia de Geração de Energía Eletrica Tiete (a system of 10 hydroelectric power plants). Project Finance International and Infrastructure Journal named this a 2001 “deal of the year.”
Represented Cyrus Reinsurance Holdings SPC and Cyrus Reinsurance Ltd. (Cyrus Re), along with their hedge fund sponsor, in connection with a reinsurance “sidecar” (which provides earnings from risk and return) transaction. Cyrus Re was the first post-Katrina sidecar to be capitalized.
Represented Dexia Credit Local in connection with the construction and term loan financing of three wind power projects to be located in the State of New York. Project Finance International named this “Environmental Deal of the Year” in the Americas. Over the past year, the Firm has been involved in wind deals worth about $8 billion, involving both M&A and finance and development.
Represented WestLB AG as lead arranger and agent for a syndicate of 17 senior lenders, in connection with an approximately $423 million funding for three ethanol plants in Ohio, Nebraska and Indiana, the biggest ethanol financing in U.S. history. During the past four years, Chadbourne has become the preeminent U.S. biofuels counsel, having been involved in more than 40 transactions with a total value exceeding $7 billion.
Advised sponsors and the project company with financing of the 250 MW Bujagali hydroelectric project in Uganda and the creation and sale of certified emission reduction. Project Finance magazine named this African Power Deal of the Year for 2007.
About Chadbourne & Parke LLP
Chadbourne & Parke LLP, a global law firm headquartered in New York City, provides a full range of legal services, including mergers and acquisitions, securities, project finance, private funds, corporate finance, energy, communications and technology, commercial and products liability litigation, securities litigation and regulatory enforcement, special investigations and litigation, intellectual property, antitrust, domestic and international tax, insurance and reinsurance, environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA, trusts and estates and government contract matters. Major geographical areas of concentration include Central and Eastern Europe, Russia and the CIS, the Middle East and Latin America. The Firm has offices in New York, Washington, DC, Los Angeles, Houston, London (a multinational partnership), Moscow, St. Petersburg, Warsaw (a Polish partnership), Kyiv, Almaty, Dubai and Beijing. For additional information, visit www.chadbourne.com.