New York, NY – July 12, 2005 – LAWFUEL – The Law News Network – The international law firm of Chadbourne & Parke LLP today announced the formation of a new Trading and Derivatives Practice Group, expanding the Firm’s internationally prominent project finance area. This group will be led by Washington, D.C. office partner Merrill Kramer; London office partner Denis Petkovic; New York office partner Andrea Satty; Houston office partner David Schumacher, and Warsaw office partner Igor Muszyński.
“Over the last few decades, derivative instruments have emerged as a core feature of the global financial markets and the derivatives industry has grown dramatically,” said Charles K. O’Neill, Chadbourne’s managing partner. “The formation of our Trading and Derivatives Group recognizes the skill sets we have in our various offices and will significantly enhance our ability to serve the growing needs of our clients involved in the banking and energy industries internationally. With the ability to service our trading and banking clients out of our New York, London, Washington, D.C., Houston and Warsaw offices, this practice will serve a strategic role as the Firm continues to grow.”
Chadbourne attorneys are experienced in negotiating complex matters in which swaps and derivative tools are utilized to hedge and allocate risk. The Firm has represented major financial institutions in complex securitization and structured finance transactions involving derivative transactions and instruments.
The Firm’s work in this area has included representing utilities and investment banks in structuring and negotiating Master ISDA and EEI contracts; advising clients on complying with federal and state laws and regulations, including FERC, CFTC, SEC and state compliance matters; representation of clients in connection with monetizations of cash flows from forward contracts to support placement of debt and equity; negotiating loans and security arrangements against derivative contracts; negotiating and successfully defending one of the largest forward power contracts entered into during the California energy crisis; and representing an international trading and merchandising company and numerous counterparties in Enron bankruptcy swap matters and litigating various derivatives issues.
“With the increasing participation of banks and private equity firms in the energy trading business, and the rapid evolution of trading rules governing financial and physical energy commodities, we have an extraordinary platform from which to advise our clients in this increasingly complex field,” noted Mr. Kramer, chair of the new practice group and who also is a partner in the Firm’s Project Finance Group. “The derivatives market continues to move forward — both domestically and internationally. Finance expertise is important to our clients, and therefore building on our existing practice is important to us, and will help raise our already strong practice to the next level.”
About Chadbourne & Parke LLP
Chadbourne & Parke LLP, an international law firm headquartered in New York City, provides a full range of legal services, including mergers and acquisitions, securities, project finance, corporate and structured finance, energy, telecommunications, commercial and products liability litigation, securities litigation and regulatory enforcement, white collar defense, intellectual property, antitrust, domestic and international tax, reinsurance and insurance, environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA, trusts and estates and government contract matters. The Firm has offices in New York, Washington, D.C., Los Angeles, Houston, Moscow, Kyiv, Warsaw (through a Polish partnership), Beijing and a multinational partnership, Chadbourne & Parke, in London. For additional information, visit www.chadbourne.com.