Orrick Advises LeapFrog on $180 Million Investment in Enterprise Group
| June.26.2017
Orrick advised LeapFrog Investments Group, a profit-with-purpose investor in emerging markets, on its $180M investment in Ghana's Enterprise Group.
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Client Results
Orrick Represents Underwriter in Axsome Therapeutics’ Follow-on Offering
| April.03.2017
Orrick advised Ladenburg Thalmann & Co. Inc., the underwriter and sole book-running manager, on the follow-on offering by Axsome Therapeutics.
Orrick Advises Prosper Marketplace in Up to $5 Billion Loan Purchase Transaction with Consortium of Investors
| February.28.2017
Orrick has advised leading online consumer lending marketplace, Prosper Marketplace, in a deal with a consortium of institutional investors to ...
Orrick Advises on First Tennessee Charter School Bond Financing
| February.28.2017
Orrick has advised bond issuers on a trio of bond financings, including Tennessee's first publicly offered charter school tax-exempt bond financing.
Orrick Advises Alecta in $1.7 Billion Portfolio Sale to Blackstone Group
| February.22.2017
Orrick has advised longtime client Swedish pension fund manager Alecta in the sale of 21 assets in the U.S. to Blackstone Group for $1.7 billion.
Orrick Assists in Debt Restructuring of South Africa's Largest Retailer
| February.06.2017
Orrick assisted GLAS Trust Corporation Limited in the restructuring of the debt of Edcon, South Africa’s largest retailer.
Edcon has been under ...
Orrick Advises Millicom on $600 Million Revolving Credit Facility
| February.01.2017
Orrick advised Millicom International Cellular on a $600 million syndicated revolving credit facility.
Orrick Advises The Climate Trust in Securing $5.5 Million Investment in Innovative Conservation Finance Fund
| November.29.2016
An Orrick team advised The Climate Trust in executing a milestone contract with the David and Lucile Packard Foundation – securing a $5.5 million ...
Orrick Advises Goldman Sachs and Calvert Foundation on the Nation’s First Environmental Impact Bond
| September.29.2016
Orrick has advised Goldman Sachs Urban Investment Group and the Calvert Foundation in their purchase of a $25M, tax-exempt Environmental Impact Bond.
Orrick Helps Rescue Italian Banks Through Work With Quaestio
| September.14.2016
Orrick’s Corporate team in Italy is helping to shore up Italy’s banking sector as legal coordinator to Quaestio Capital Management SGR.
American Realty Advisors Buys Google's Chicago Headquarters
| July.09.2016
Orrick represented American Realty Advisors in connection with the $257 million acquisition of Chicago’s 1K Fulton building, which serves as Google’s ...
Orrick Advises Japan-based Subordinated Second Lien Lenders in $3.4 Billion Sale-Leaseback Transaction for Sprint Corporation
| April.15.2016
Orrick represented the Japan-based subordinated second lien lenders in a $3.4 billion sale-leaseback transaction for Sprint Corporation.
Capzanine Partners With Eurazeo and AXA to Support SME Development in France
| January.20.2016
Orrick Rambaud Martel has advised on Eurazeo and AXA France’s joint capital investment into French investment fund Capzanine – an unprecedented ...
Orrick Advises USAA in $1.1 Billion JV Acquisition of Five Westfield Malls
| December.21.2015
On December 18, a joint venture comprising USAA Real Estate, Centennial Real Estate Company and Montgomery Street Partners, an affiliate of Blum ...
Orrick Advises on First-Time Use of Social Impact Bonds to Rehab Abandoned Properties
| December.02.2015
Orrick assisted pro bono clients the Richmond Community Foundation and the City of Richmond in California in the successful closure of a $3 million ...
Hines Acquires Office Tower in Paris La Défense
| December.02.2015
Orrick's Paris Finance team advised longtime client Hines on financing the acquisition of a 35,008-sq.m. office tower in Courbevoie, located on the ...
Orrick Represents Basin Electric in its First Global Private Placement
| July.09.2015
A cross-practice and office Orrick team recently
represented long-time client Basin Electric Power Cooperative (“Basin
Electric”), a wholesale ...
Orrick Advises Tokyu Land on Investment in Marquee Park Avenue Office Tower Development
| June.04.2015
Orrick (“Orrick”) advised the U.S. real estate subsidiary of Tokyu Land Corporation (“Tokyu”), one of the largest Japanese conglomerates, on its ...
Orrick Advises Cenkos Securities and Zeus Capital on £1 Billion Fundraising for Haversham Holdings plc
| March.26.2015
Haversham
Holdings will issue 685.7 million new Ordinary Shares at a price of 150 pence
per share, the proceeds of which will be used to fund the ...
Orrick Advises Ubisoft Entertainment in €200M German Private Placement
| March.16.2015
An Orrick team from Paris and Düsseldorf recently advised Ubisoft Entertainment in its successful placement of a €200 million “Schuldschein” loan, in ...
Orrick Advises Hackman Capital Partners Entities in Sale of Beats Headquarters in Culver City
| February.27.2015
Orrick, Herrington & Sutcliffe LLP (“Orrick”) recently closed the sale of a 126,800 square foot creative office space campus in Culver City, ...
Orrick Advises City of Stockton on Bankruptcy Exit
| February.25.2015
On October 30, 2014, Chief
Bankruptcy Judge Christopher Klein of the United States Bankruptcy Court for
the Eastern District of California in ...
Judge Approves Bankruptcy Exit for Stockton, California
| November.03.2014
On October 30th, Chief Bankruptcy Judge Christopher Klein of the United States Bankruptcy Court for the Eastern District of California in Sacramento ...
Orrick Advises Goldman on Unique Bridge Financing to Propel Transbay Transit Center Project Down the Track
| February.23.2015
A multi-practice Orrick team recently advised Goldman Sachs as lead arranger of an innovative, multi-lender $171 million term loan facility to ...
Orrick Assists in Acquisition of Iconic Culver Studios in West Los Angeles
| March.05.2014
Orrick’s Los Angeles Real Estate team assisted an investor syndicate sponsored by longtime client Hackman Capital Partners in the acquisition of the ...
Sberbank Organizes $2.94 Billion Financing for Yamal Development
| January.22.2014
Orrick has advised Sberbank, the largest bank in Russia and Eastern Europe, in connection with its $2.94 billion in acquisition financing to Yamal ...
Heitman Purchases Pacific Commons Shopping Center in Bay Area's Largest Retail Property Sale of 2013
| December.11.2013
Orrick has advised Chicago-based real estate firm Heitman Real Estate Securities in its purchase of the Pacific Commons Shopping Center to Catellus ...
Orrick Advises Iowa Fertilizer Company on $1.8 Billion Financing
| May.15.2013
Orrick has advised Iowa Fertilizer Company LLC, a subsidiary of OCI N.V., in the $1.8 billion financing of a new nitrogen fertilizer production plant ...
Orrick Advises Euro Disney Supervisory Board on €1.33 Billion Debt Refinancing
| October.17.2012
Orrick recently advised Euro Disney's supervisory board on the refinancing of €1.33 billion of debt. Euro Disney operates Disneyland Paris, Europe's ...
U.S. District Court Approves W. R. Grace Bankruptcy Plan of Reorganization and the Creation of a $3 Billion Trust
| February.05.2012
Washington, D.C. - Orrick’s restructuring team advised on the development of W.R. Grace’s reorganization plan, which was approved by the U.S. ...
Orrick Assists in Financing the Redevelopment of the World Trade Center
| November.17.2011
New York - A decade after the WTC tragedy, the construction of One WTC has become a symbol of the renewal of downtown Manhattan. Orrick's Public ...
Insights
CFPB Issues Final Arbitration Rule – Who Is Covered and How Does It Affect Your Business?
by Barrie VanBrackle and Howard S. Altarescu | July.24.2017
The CFPB, after entertaining numerous comments, issued its final arbitration rule on Monday, July 10. Orrick partners offer key takeaways of the rule.
Recast EU Insolvency Regulation Comes Into Force
by Stephen Phillips, Scott Morrison and Siobhan Sheridan | June.27.2017
On 26 June 2017 the Recast EU Insolvency Regulation (Council Regulation (EC) No. 2015/848) came into force.
The Breakdown of a Real Estate Joint Venture: Negotiating Divorce During Courtship
by Marshall Brozost | June.26.2017
Negotiations concerning the collapse of real estate joint ventures are among the most vexing, contentious and emotional.
Successful Investing in Charter Schools Part III - Market Advancements
by Todd Brewer and Eugene Clark-Herrera | June.07.2017
This webinar, from Orrick and The Bond Buyer, examines the expanding array of financial tools used by charter schools to address facilities needs.
Rising to the Challenge of Growth Capital Equity Investment in the World’s Poorest Countries – A New Model
by Peter O'Driscoll | May.30.2017
Peter O'Driscoll examines the challenges of aggregation and deployment of growth capital equity in the world’s poorest countries.
Outline for Discussion of New Issue Price Rules
| May.24.2017
New tax rules relating to establishing the issue price of publicly offered tax-exempt bonds become effective soon.
South Africa’s Junk Status Downgrade - The Impact
| May.12.2017
On 3 April, 2017, S&P Global led the way in downgrading South Africa’s Sovereign Credit Rating to non-investment-grade ‘Junk’ status.
OCC to Move Forward with Considering Fintech Charter Applications
by Howard S. Altarescu, Jeremy Kudon, Robert Loeb and Christopher J. Cariello | May.11.2017
The OCC announcement to move forward considering fintech charter applications has potentially significant industry, policy & practical implications.
Association of State Regulators Sues to Enjoin OCC's Fintech Special-Purpose National Bank Charters
by Robert Loeb, Howard S. Altarescu, Christopher J. Cariello and Ned Hirschfeld | May.03.2017
A group of state regulators, the Conference of State Bank Supervisors ("CSBS"), filed suit in the U.S. District Court for the District of Columbia.
SEC Brings Post-MCDC Enforcement Actions Against Underwriter and Officials
by Robert Feyer and George Greer | April.24.2017
Two recent SEC orders are the first post-MCDC cases finding violations based on official statements regarding compliance with previous CDUs.
Banks Seek Judgment That Loans Facilitated By Online Platforms Are Exempt From Colorado's Lending Laws
by Robert Loeb, Howard S. Altarescu, Christopher J. Cariello and Ned Hirschfeld | April.07.2017
WebBank and Cross River Bank have filed separate federal court actions against the Administrator of Colorado's Uniform Consumer Credit Code.
Comptroller of the Currency Tom Curry Discusses Fintech Charters
by Howard S. Altarescu and Robert Loeb | March.07.2017
At the LendIt Conference in New York, Comptroller of the Currency Tom Curry discussed special purpose national bank charters for fintech companies.
CFTC Indicates Willingness to Help Incubate Fintech
by Nikiforos Mathews | February.22.2017
J. Christopher Giancarlo, the acting chairman of the CFTC, has diverged from other U.S. federal regulators, signaling he favors “regulatory ...
Regulation D Battlefield Heating Up as Acting Chairman Piwowar Suggests Doing Away with Concept of Accredited Investors
by Christopher Austin and Robert Stern | March.03.2017
On the same day that President Trump signed an Executive Order instructing federal agencies to create task forces designed to identify regulations ...
Debtwire European Distressed Debt Market Outlook 2017
| February.02.2017
The 2017 Debtwire European Distressed Debt Outlook report surveyed 100 distressed investors and 30 private equity funds to establish the outlook for ...
IRS Releases New Regulations Regarding Dividend Equivalents
by Peter Connors, Stephen Lessard and Michael Rodgers | February.01.2017
The IRS has issued final, temporary, and proposed regulations under section 871(m) of the Internal Revenue Code of 1986, as amended.
Class Action Against Lending Club and WebBank Headed to Defeat
by Robert Loeb, Christopher J. Cariello and Ned Hirschfeld | January.31.2017
A federal district court in New York granted a motion to compel arbitration in a class action raising important issues for the fintech industry.
Out-Of-Court Restructuring After Marblegate
by Evan C. Hollander and Monica Perrigino | January.26.2017
Evan Hollander and Monica Perrigino of Orrick’s Restructuring team co-authored an article for Law360 that examines the implications of the Second ...
Student Housing: Comparing Options for Tax Exempt Financing
by Charles C. Cardall, John Wang and Roger Davis | January.09.2017
Designed for use by colleges & universities, developers, underwriters, direct purchase lenders and others involved in financing student housing.
Orrick’s Marc Levinson Compares Chapter 9 to Chapter 11 for the Federal Judicial Center Website
| January.06.2017
Orrick Restructuring Senior Counsel Marc Levinson is one of the chapter 9 experts assisting in the preparation of a chapter 9 manual for bankruptcy ...
Amendments to California PACE Financing Statutes Become Effective January, 1 2017
by Brandon Dias | December.19.2016
Certain amendments to California's statutory schemes for authorizing Property Assessed Clean Energy (PACE) financing programs will become effective.
IRS Releases Transition Guidance for the Dividend Equivalent Rules
by Peter Connors, Stephen Lessard and Michael Rodgers | December.12.2016
IRS Notice 2016-76 provides highly anticipated guidance regarding “dividend equivalent” payments under section 871(m) of the Internal Revenue Code.
National Bank Charters for Fintech Companies
| December.09.2016
"Technology-based products and services are the future of banking and the economy," said Comptroller of the Currency Thomas J. Curry on December 2.
Orrick’s Marc Levinson Publishes Chapter 11 v. Chapter 9 Checklist in Practical Law
by Marc Levinson | November.29.2016
The Chart examines, among other crucial issues, commencement of the case, eligibility requirements, case administration, preference actions and plans.
Jeffrey Sun Discusses China's Increased Scrutiny of Outbound Investment
| November.29.2016
Jie Jeffrey Sun, a corporate partner in Orrick’s Shanghai and Beijing offices, recently spoke with the South China Morning Post and The New York ...
Jonathan Lopez Discusses the Future of Financial Crime Enforcement Under Trump
| November.16.2016
Jonathan Lopez, a litigation partner in Orrick’s Washington, D.C. office who previously served as an inaugural Deputy Chief of the Department of ...
Orrick Partner Authors Article on CFPB's Final Rule
by Barrie VanBrackle | November.15.2016
Barrie VanBrackle authored an article discussing key aspects of the U.S. Consumer Financial Protection Bureau's (CFPB) final rule on prepaid cards.
The Final §385 Regulations (Part I) - Classifying Interests in a Corporation
by Peter Connors, Barbara de Marigny and Michael Rodgers | November.10.2016
On October 13, 2016, the IRS and Treasury Department issued much anticipated regulations (the “Final” or “Temporary” Regulations) under Internal ...
California Debt Limit Allocation Committee Releases Proposed Regulations
by Paul A. Toland and Justin Cooper | October.19.2016
About some of the more significant changes that could affect issuers and borrowers in connection with awards of volume cap under proposed regulations.
Orrick Lawyers Author Article on Chapter 9 Filings
by John Knox and Marc Levinson | October.19.2016
Orrick's John Knox and Marc Levinson authored an article for Thomson Reuters' Practical Law on how to avoid a Chapter 9 filing.
U.S. Sixth Circuit Holds that Customary Language in Amendment and Restatement Agreements May Extinguish Existing Security Interests via Novation
by B. J. Rosen and David Y. Lin | October.14.2016
On August 23, 2016, the U.S. Court of Appeals for the Sixth Circuit held in the Chapter 7 bankruptcy case In re Fair Finance Company that an ...
D.C. Circuit Strikes Down CFPB Leadership Structure
by Kelsi Corkran, Robert Loeb, Robert Stern and Howard S. Altarescu | October.12.2016
The D.C. Circuit in PHH Corporation v. CFPB No. 15-1177 ruled the Consumer Financial Protection Bureau's (CFPB) leadership structure unconstitutional.
Tax Benefit from Leveraged Partnerships Shut Down By New IRS Regulations
by Peter Connors and Barbara de Marigny | October.10.2016
On October 5, 2016, the IRS and Treasury released a package of new regulations under Code sections 707 and 752 designed to curtail the use of debt to ...
CFTC Seeks Public Comment on Proposed Whistleblower Rule Amendments
by Elizabeth J. Elias | September.13.2016
On September 1, 2016, the U.S. Commodity Futures Trading Commission (“CFTC”) announced that it is “requesting public comment on proposed amendments ...
Arguing that CashCall was the "True Lender", CFPB Successfully Challenges High Interest Loan Program
by Howard S. Altarescu, Robert Loeb and Christopher J. Cariello | September.08.2016
On August 31, a federal district court in California ruled in favor of the U.S. Consumer Financial Protection Bureau (CFPB) on the application of ...
Italian State Guarantee for NPL Securitisations: Implementing Decree is Approved
| August.31.2016
In this Alert we describe the main provisions contained in the new Implementing Decree of the Ministry of Economy and Finance for State guarantees ...
English Law Schemes of Arrangement: Class Composition
by Stephen Phillips, Scott Morrison and Jack Mead | August.24.2016
Having received the sanction of antitrust regulators in Europe, the U.S., China and South Africa, the planned merger of brewing giants AB InBev and ...
Congress Introduces Bill to Make “Valid When Made” the Law of the Land
by Howard S. Altarescu, Robert Loeb and Christopher J. Cariello | August.20.2016
Chief Deputy Whip Patrick McHenry (R, NC-10), the Vice Chairman of the House Financial Services Committee, introduced H.R. 5724, the Protecting ...
Selected Risk Retention Questions and Answers for CMBS Securitizations
| August.16.2016
INTRODUCTION
On October 22, 2014, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal ...
ALJs are A-OK: D.C. Circuit Upholds Constitutionality of SEC In-House Courts
by Paul F. Rugani | August.12.2016
In several recent decisions we have covered (here and here), Federal Circuit Courts have unanimously ruled that respondents in an SEC enforcement ...
The Impact of PROMESA on Creditors
by Lorraine McGowen | August.10.2016
On June 30, 2016, the United States Senate passed the “Puerto Rico Oversight, Management and Economic Stability Act” (“PROMESA”) and it was quickly ...
California Health Care District Financing Techniques
by Jenna Magan and Donald Field | July.27.2016
Across the nation, the delivery of health care services is undergoing a period of transformation. Much of this change is being driven by The ...
Supreme Court to Resolve Circuit Split Over Structured Dismissals
by Douglas S. Mintz, Robert Loeb and Monica Perrigino | July.26.2016
The Supreme Court again will be addressing the powers of bankruptcy courts. At the end of the term, the Court granted certiorari in Czyzewski v. ...
Proposed Regulations Under §385 Classifying Interests in a Corporation
by Peter Connors, Barbara de Marigny and Michael Rodgers | July.13.2016
On April 4, 2016, the Internal Revenue Service and U.S. Treasury Department issued proposed regulations designed to curb the ability of large ...
Not So Fast Supreme Court Holds Prepetition Fraudulent Transfer Precludes PostPetition Discharge in
by Raniero D'Aversa, Douglas S. Mintz, Robert Loeb, Kelsi Corkran, Amy Pasacreta and Monica Perrigino | May.25.2016
One of the goals of the Bankruptcy Code is to provide a debtor with a fresh start. The discharge of prepetition debts at the conclusion of a ...
Orrick Partners Publish Opinion Piece on Oil Industry's Debt Issues
by Stephen Phillips and Raniero D'Aversa | May.16.2016
Orrick partners Stephen Phillips and Ron D'Aversa published an opinion piece, "Lower For Longer", regarding oil industry debt issues.
Tax Law Update - IRS Issues Proposed Regulations That Would Recast Certain Debt Instruments as Equity
by Peter Connors | April.28.2016
On April 4, 2016, the IRS and U.S. Treasury Department issued proposed regulations which are designed to attack corporate "earnings stripping" ...
Sales Tax Revenue Bonds Provide Critically Needed Transportation Funding Source
by Jenna Magan and Devin Brennan | April.26.2016
Funding transportation infrastructure in California is becoming increasingly difficult, as diminished gasoline taxes and other state and federal ...
Novo Banco and CDS A PostMortem
by Nikiforos Mathews and Jonas Robison | April.22.2016
In 2014, the International Swaps and Derivatives Association, Inc. (“ISDA”), published the 2014 ISDA Credit Derivatives Definitions (the ...
The Federal Housing Finance Agency Releases Final Rule on Federal Home Loan Bank Membership
by Howard S. Altarescu, Robert Loeb and SueAnn Yue | January.20.2016
On January 12, 2016, the Federal Housing Finance Agency (“FHFA”) issued a final rule establishing new requirements for membership in the Federal Home ...
News
Orrick to Add Leading Fintech and Financial Regulatory Advisor in London
| July.24.2017
Orrick announced that Jacqui Hatfield, a leading advisor on UK and European Fintech and payments regulation, will join the firm on Sept. 4 in London.
Orrick Focuses on Impact Finance & Investment: A Growing Field for the Private Equity Market
| July.13.2017
A leading advisor to the Impact Finance and Investment market, Orrick has expanded its practice with the creation of a full-time position.
Orrick Advises on Two of Top Ten Largest Global Real Estate M&A Deals in Q1 2017
| April.10.2017
Orrick advised in two of the ten largest real estate M&A deals to close in the first quarter of 2017, according to recent Dealogic data published by ...
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Financial Industry Review Blog
Highlighting the most important legal and regulatory developments affecting the financial industry
Distressed Download Blog
Latest news and industry trends in the distressed debt and restructuring markets
Derivatives in Review Blog
Important legal, regulatory and other developments in the area of derivatives
Tools for the U.S. Corporate Direct Lending Community
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Talking About Public Finance at Orrick with Justin Cooper
Employment Law & Litigation Blog
Analysis and developments in labor and employment law
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The latest substantive legal developments and issues involving securities litigation
Some of the recognition we have received
No. 1 Municipal Bond Counsel
The Bond Buyer, 2016
Top 6 Issuer's & Underwriter's counsel ABS, MBS and CMBS
Asset-Backed Alert and Commercial Mortgage Alert, 2015 and 1H 2016
Italy NPL Law Firm of the Year
Legalcommunity, 2017
Project Finance Practice Group of the Year
Law360, 2016 and 4 times
Marc Levinson Named Dealmaker of the Year
The American Lawyer, 2015
Restructuring Group of the Year
Law360 2014
Leading firm for Banking & Finance in France, Italy, Russia and the U.S.
IFLR 1000, 2015
Band 2 for Capital Markets: Securitization in Italy
Chambers Global
Tier 1 for Insolvency in France
Legal 500, 2016
Tier 1 in Project Finance in France
Legal 500, 2016