Recordings of the Symposiums panels are availablehere. : The Tension between Conservative Corporate Law Theory and "Citizens United", in 100 Cornell L. Rev. That was his genius., Michael A. Fitts, former Dean of the Law School and current President of Tulane University, said Wachter possessed an innate ability to understand and create intellectual synergy. He reshaped how we think about issues surrounding corporate law with his singular vision and inspired and launched generations of students into fulfilling careers through his dedicated teaching and mentorship. 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. This interdisciplinary symposium seeks to bring together diverse scholars to address the new dynamics that are reshaping the field. Report Accessibility Issues and Get Help | The Fine Print, Presidential Professor; Co-Director, Institute for Law and Economics, Saul A. This compensation model has led to the firm being called the "last true partnership. In order to receive the appropriate amount of credit, passcodes provided throughout the program must be noted in your evaluation form. Wachtell, Lipton, Rosen & Katz LLP. We are using cookies to give you the best experience on our website. We maintain a ratio of associates to partners significantly below that of other firms. To that end, here is some information about how this event will go. His former students are among the most prominent practitioners and judges in the country, Fisch said. J.D., Yale Law School 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. On his return to Ukraine after several months of war, Penn meets a visibly transformed Zelensky in an incongruously sunny garden for what is by far the documentarys best interview. 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. 11:00 AM - 11:30 PM - Registration; 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. Michael Wachters contributions to Penn and to the Law School cannot be overstated, said Ted Ruger, Dean of the Law School and Bernard G. Segal Professor of Law. We have an ASL interpreter and also manual closed captioning as standardaccommodations for each panel and speaker during the symposium. 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. The New New Regime in Delaware Appraisal Law, in Harvard Law School Forum on Corporate Governance and Financial Regulation, March 1, 2018. PLEASE NOTE: A verification email will be sent to your address before you can access your trial. Wachtell, Lipton, Rosen & Katz is an American law firm in New York City. Jill Barton is an associate in Wachtell Lipton's Corporate Department. We hope to be at the leading edge of private equitys next phase. Penn Law Alumni receive CLE credits free through The W.P. Moderator:Vincent Buccola,TheWharton School, Ronit Berkovich,Weil, Gotshal & Manges LLP, Hon. We seek individuals who are talented, motivated and committed in order to maintain our record of excellence. 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. We will then allow you to unmute yourself to ask the question. I always remember sitting in the first (or second row) of his class and hearing him calling students names to answer questions. [20], The firm placed #41 on The American Lawyer's 2021 AmLaw 200 ranking. When you think business law at Penn, you think Michael Wachter.. Strine, former Delaware Supreme Court Chief Justice and Chancellor on the Delaware Court of Chancery, taught an advanced seminar on Corporate Law with Wachter for a generation and has been an active participant in the ILE as a member of the board of advisors. We are using cookies to give you the best experience on our website. The resolution void has emboldened equity sponsors to exploit their considerable relationship and financial leverage, pursuing unprecedented hostile acts against creditors to preserve equity stakes. eloved husband of Susan Wachter, devoted father of Jessica Wachter and Jonathan Wachter, and cherished grandfather of eight. But, most of all, it was his constant focus on doing what was best for the students and being there for them that is the example we all should emulate., When Wachter retired in 2020, he wrote, My memories of Penn Law will always be infused by gratitude for the opportunity to engage with wonderful students and colleagues.. These nascent battleswhich have been observed at several prominent companies, including Caesars Entertainment, Neiman Marcus, and J.Crewraise concerns about the potential harm to the U.S. economy if a financial downturn leads to a battle for control over some of the nations largest companies. 51 West 52nd Street, New York, NY 10019 [19], Along with Skadden, Arps, it was also cited in Malcolm Gladwell's Outliers. Carey Foundations generous commitment to Lifelong Learning. It's a journalistic coup that even Penn's breathy remarks about how inspired he is by Zelensky's leadership can't totally undermine. DAY 1 - Friday, February 18, 2022. Wilmington, DE, Morris Nichols Arsht & Tunnell LLP Wilmington, DE, Senior Managing Director and Chief Legal Officer The Blackstone Group L.P. New York, NY, Friedlander & Gorris, P.A. Professor Emeritus Michael WachterMichael L. Wachter, William B. and Mary Barb Johnson Professor of Law and Economics, Emeritus, passed away on September 3. This website uses cookies so that we can provide you with the best user experience possible. This program has been approved for 3.0 Substantive and 4.5 Ethics CLE credits for Pennsylvania lawyers. Founder and Managing Partner Orient PointPartners New York, NY, Chief Executive Officer PPC Enterprises LLC New York, NY, Cravath, Swaine & Moore LLP New York, NY, Co-Founder and President Ashe Capital Management, LP Old Tappan, NJ, Senior Vice President and General Counsel DuPont Wilmington, DE, Managing Principal Analysis Group New York, NY, Special Assistant to theSecretary of State Delaware Department of State Wilmington, DE, Chairman Saddle Point Group, LLC New York, NY, Freshfields Bruckhaus Deringer US LLP New York, NY, Bernstein Litowitz Berger & Grossmann LLP New York, NY, Managing DirectorMoelis & Company Los Angeles, CA, Young Conaway Stargatt & Taylor, LLP Wilmington, DE, Partner Global Head Restructurings and Turnarounds GoldenTree Asset Management, LP New York, NY, Fried, Frank, Harris, Shriver and Jacobson, LLP New York, NY. Wachter elevated the ILE from the moment he took over in 1984, turning it into a preeminent center for the advancement of cross-disciplinary research employing the collective wisdom of academics, lawyers, business leaders, judges, policymakers, and regulators during roundtables and conferences. Twitter LinkedIn Fox Distinguished Professor of Business Law; Co-Director, Institute for Law and Economics, Professor of Law; Co-Director, Institute for Law and Economics, Executive Director, Institute for Law & Economics; Professor Emeritus, Widener University Delaware Law School, Professor of Law, Business Economics, and Public Policy, Edward B. Shils Professor of Law and Professor of Political Science; Director, Penn Program on Regulation, Associate Professor of Finance, The Wharton School, Jacob Safra Professor of International Banking, Professor of Finance, The Wharton School; Co-Director, Wharton Financial Institutions Center, William A. Schnader Professor of Law; Deputy Dean, The Nomura Securities Company Professor and Ernst and Young Professor, Professor of Accounting and Finance, and Chairman, Accounting Department, The Wharton School, Charles A. Heimbold, Jr. Control rights vary across loan types. 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. All Rights Reserved. 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. The resolution void has emboldened equity sponsors to exploit their considerable relationship and financial leverage, pursuing unprecedented hostile acts against creditors to preserve equity stakes. And from his constant warmth and sense of humor at every turn. [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. Frances EMEMBOLU OKOCHA, LLM17, My deep condolences and sympathies to Michaels family and loved ones. Mr. Walters practice has covered Delaware law, arbitration, insurance and restructuring, and he has argued before the Delaware Court of Chancery and the Appellate Division of the New York Supreme Court. Conservative Collision Course? You have to know whats happening with clients, competitors, practice areas, and industries. He reshaped how we think about issues surrounding corporate law with his singular vision. Principal Cornerstone Reseach Washington, D.C. Cadwalader Wickersham & Taft LLP New York, NY, Potter Anderson & Corroon LLP Wilmington, DE, Managing DirectorHoulihan Lokey San Francisco, CA, Managing Partner The S Consulting Group Philadelphia, PA, Senior Advisor BarkerGilmore Philadelphia, PA, Retired Senior Vice President and Chief Investment Officer Allstate Insurance Company Northbrook, IL, Managing Director, General Counsel and Corporate Secretary Vanguard Wayne, PA, Founding Managing Director Innisfree M&A Incorporated New York, NY, Wachtell, Lipton, Rosen & Katz New York, NY, Wilson, Sonsini, Goodrich & Rosati Wilmington, DE, Managing Director; M&A AdvisoryGeneral Counsel Goldman, Sachs & Co. New York, NY, Former Chief Justice DelawareSupreme CourtMichael L. Wachter Distinguished Fellow in Law and Policy; University of Pennsylvania Carey Law School Wachtell, Lipton, Rosen & Katz Wilmington, DE, Chief Legal and Compliance Officer Apollo Global Management, LLC New York, NY, Simpson Thacher & Bartlett LLP New York, NY, Chief Justice, Supreme Court of Delaware, 1992-2004 Gordon, Fournaris& Mammarella, P.A. The Festschrift is an honored tradition in American academic life. [25], Last edited on 15 February 2023, at 00:59, Learn how and when to remove this template message, United States Court of Appeals for the Ninth Circuit, Association of American Physicians and Surgeons, United States Court of Appeals for the Second Circuit, List of largest law firms by profits per partner, "Wachtell, Lipton, Rosen & Katz, USA | Chambers Rankings", "The 2021 Global 100: Ranked by Profits per Equity Partner", "Leonard M. Rosen, Wachtell Lipton Co-Founder, Dies at 83", "Newsday | Long Island's & NYC's News Source | Newsday", "Wachtell Lipton co-founder Leonard Rosen dies at 83", "Curtiss-Wright Corporation v. Kennecott Corporation, 504 F. Supp. They also raise the broad question about the gradual shift from bonds to loans in riskier debt markets. Prior to attending law school, Jill was an analyst at Goldman Sachs. Joshua Feltman,Wachtell, Lipton, Rosen & Katz, 3:45 to 5:15 p.m.Panel 4:The Judicial Role in the New Order. 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. The Law Review thanks Platinum sponsor Wachtell, Lipton, Rosen & Katz and Gold sponsors Weil, . This panel will explore the challenges judges are beginning to face in and out of Chapter 11. Jill received her J.D., magna cum laude, from the University of Pennsylvania Law School, where she was elected to the Order of the Coif and served as a Senior Editor for the University of Pennsylvania Law Review. [22] The same is true for associate bonuses. This panel will address these questions while laying the empirical groundwork for distressed debt markets that will inform the panels that follow. These original works of scholarship celebrate Professor Burbank by exploring and building on the mostimportant themes of his work, illustrating how todays cutting-edge scholarship can trace its lineage back to his body of academic work. Their website also boasts that they have a low associate-to-partner ratio. This program has been approved for 7.0 Substantive CLE credits for Pennsylvania lawyers. Double Oscar-winning actor-turned-activist Penn and his crew were in Kyiv filming the documentary as the Russian invasion began and the first part of Superpower captures the misplaced optimism felt by many, Penn included, on the eve of the war that Putin's bluster was just that. As a corporate law professor now in Taiwan, I learned every foundational piece about corporate law from him. We mourn his loss but celebrate a consequential life.. 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. This website uses cookies so that we can provide you with the best user experience possible. A true loss for the community. "Ukraine has inspired the world. Last week, the University of Pennsylvania Carey Law School, and its Institute for Law and Economics, unveiled a new affiliated website, "The Lipton Archive." The Lipton Archive is a living corporate law and governance history site focusing on the thought leadership of Martin Lipton of Wachtell, Lipton, Rosen & Katz. B.A., Oxford University. Arguably too smitten with Zelensky the myth to attempt painting an objective portrait of Zelensky the man, Penn overlooks the actual superpower the actor-turned-politician has his genius for media relations. When we are speaking for the first time, we will describe our visual appearance. : The new dynamics of lending and private equity ownership pose questions about how disputes among creditors, debtors, and their owners should be resolved. In the legal profession, information is the key to success. 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. A livestream will be available. It is a loss for the law school and the whole corporate law community. Talisman Energy Inc. in its $8.3 billion sale to Repsol S.A. Dresser-Rand Group in its $7.6 billion sale to Siemens AG, Smith International in its $11 billion merger with Schlumberger, Verizon Communications in its $130 billion acquisition of the 45% interest in Verizon Wireless owned by Vodafone Plc, VoiceStream Wireless in its $55 billion acquisition by Deutsche Telekom, Verizon Communications in its $4.83 billion acquisition of Yahoo!s operating business. He has represented companies in divestitures, cross-border transactions and proxy contests, and has counseled managements and boards of directors concerning acquisition matters, responses to shareholder activism,conflict transactions, corporate governance and other significant issues. Finally, we will have a phone line, where anyone can call in to ask a question. His parents were the children of Jewish immigrants from present-day Poland and Hungary . Less a documentary about Zelensky than a bromance movie starring Penn as the Ukrainian president's well-connected superfan, Superpower tells us far more about the strange world of celebrity activism than that of Ukrainian politics, a subject in which by his own admission Penn is a "total Pollyanna.". Jonathan Schulman L03, I was thinking about Professor Wachter a couple of days ago. Herbert Maurice Wachtell (born May 24, 1932) is an American lawyer. Professor Wachters passing is quite a loss for the Penn community in addition to, of course, his family and friends. This program has been approved for 8.5 total CLE credits (7.0 substantive credit and 1.5 ethics credit) for Pennsylvania lawyers. Whole Foods Market in responding to shareholder activism and its $14 billion merger with Amazon.com, Inc. Sears Holdings in the separation of its real estate assets into Seritage Growth Properties, a real estate investment trust, Kellogg Company in its $4.6 billion acquisition of Keebler Foods Company and its $2.7 billion acquisition of Procter & Gambles Pringles business, Penn National Gaming in the separation of its real estate assets into Gaming and Leisure Properties, a REIT, and its $2.8 billion acquisition of Pinnacle Entertainment, Gaming and Leisure Properties in its $5.1 billion acquisition of Pinnacle Entertainments real estate assets, Mirage Resorts Incorporated in its merger with MGM Grand Inc, Wynn Resorts Limited in successful proxy contests with former directors of the company, Marsh & McLennan Companies in its $6.4 billion acquisition of Jardine Lloyd Thompson Group, Newmont Mining Corporation in its acquisitions of Franco-Nevada Mining Corporation Limited, Normandy Mining Limited and Santa Fe Pacific Gold Corporation, Knight-Ridder, Inc in its merger with The McClatchy Company. Ex ante measures to avoid collateral skirmishes have proven elusive. Please see our Privacy Policy. PENN, based in Wyomissing, Pennsylvania, had previously acquired a 36% stake in New York-based Barstool in Feb. 2020. 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. He will be missed, and Im grateful for his help to me during my law school years. Still, every now and again, Penn manages to get it just right. Creditors are being pitted against other creditors in an ever-radicalizing model. We will orally identify ourselves when we are speaking. Brief Description: Debt instruments fail to address and resolve the most challenging disputes between parties, despite their increasing length and complexity. t. 212.403.1000 or 800.848.0301 / Attorney Advertising and Other Notices. [3], The firm was founded in 1965 by Herbert Wachtell and Jerry Kern, who were shortly afterwards joined by Martin Lipton, Leonard Rosen, and George Katz. You may also use this number to make accommodation requests or report technology issues. These market features raise questions about whether leveraged loans are more susceptible to fire sales and potentially lead to differences in the bargaining process during distressed work-outs and restructurings. 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. By McCord Pagan (September 25, 2020, 3:52 PM EDT) -- Guided by Wachtell Lipton Rosen & Katz, Penn National said Friday it raised at least $854 million in a common stock offering that will likely help fund the gaming company's long-term growth and physical locations. Access to case data within articles (numbers, filings, courts, nature of suit, and more. REGISTRATION:https://pennlaw.zoom.us/webinar/register/WN_t-N7uC-BShm1oufopSg1rw. University of Pennsylvania Carey Law School. Wachtell, Lipton, Rosen & Katz remains at the top of the list with $8.4 million in profits per equity partner. Recent Matters Selected Highlights View More, 51 West 52nd Street, New York, NY 10019 Craig Goldblatt,U.S. Bankruptcy Court, District of Delaware, Robert Rasmussen,University of Southern California, 5:15p.m.to5:30 p.m. Registration and Refreshments, 9:00 to 10:30 a.m.Panel 1:The Leveraged Loan Market and the Impending Buyout Bust. The Utility of Rational Basis Review, in 63 Vill. Invariably, he brought to bear his intellectual curiosity. Ed Rock L83 served alongside Wachter as co-director of the ILE. 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. in Classics with first-class honors from the University of Oxford in 2004. Among the significant matters he has handled are the successful defense of Airgas against a hostile takeover bid by Air Products and Chemicals (2009-2011), the sale of Airgas to LAir Liquide S.A., the merger of Anadarko Petroleum with Occidental Petroleum and Anadarkos response to acquisition proposals from Chevron and the $130 billion acquisition by Verizon Communications of the 45% interest in Verizon Wireless owned by Vodafone plc. Professor Michael Wachter with Larry Hamermesh. ILE drew faculty from across the university to engage with prominent practitioners from the bar and judiciary. From his foundational role shaping the nationally influential Institute for Law & Economics, to his incredible management advice to Penn presidents and deans, to his innovative and thought-provoking scholarship, Michael was a role model for us all. He maintains an active pro bono practice and sits on the Stewardship Committee of St. Michaels Episcopal Church on the Upper West Side. CLE credit may be available in other jurisdictions as well. "[22], The firm is known for its work in mergers and acquisitions and been ranked #1 in Vault's M&A rankings for more than a decade. 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. On the 2021 Global 200 survey, Wachtell Lipton Rosen Katz ranked as the 50th highest grossing law firm in the world. Although banks still hold a majority of leveraged loans, NBFIs are significant market participants, particularly in the non-investment grade loan sector. Jill received her J.D., magna cum laude, from the University of Pennsylvania Law School, where she was elected to the Order of the Coif and served as a Senior Editor for the University of Pennsylvania Law Review. This website uses cookies so that we can provide you with the best user experience possible. 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. He was a great teacher and educator, among other things. He was the consummate University citizen, said Rock, now Martin Lipton Professor of Law and Co-Director of the Institute for Corporate Governance & Finance at NYU School of Law. 1044 | Casetext Search + Citator", "Wachtell, Lipton, Rosen & Katz | Company Profile | Vault.com", "Knight Capital completes $400 million financing | Finance Magnates", "The 2018 Am Law 100 Ranked by: Profits per Equity Partner", "Wachtell Clinches Top Spot as 2019 Global M&A Adviser", "Twitter hires law firm Wachtell to sue Musk after pulling out of $44 billion deal", "Adani hires US legal powerhouse Wachtell in short-seller battle", "Wachtell, Lipton, Rosen & Katz | NYU School of Law", "The 2018 Am Law 100 Ranked by: Profits Per Equity Partner", "M&A Power Wachtell Could be 'Last True Law Partnership', "New Book Reveals Secrets to Joe Flom's Success", "Keeping a Butterfly and an Elephant in a House of Cards: The Elements of Exceptional Success", "Wachtell, Lipton, Rosen & Katz - Rankings", Dealbook - Wachtells Newest Hire: 90-Year-Old Morgenthau, "Shhh! A productive scholar, Wachter edited a number of books and authored and co-authored well over 100 papers, earning multiple citations on best-of-the-year lists.