Four NYU Law alumni named among the top 25 "Dealmakers of the Year" by the American Lawyer
Four NYU Law alumni were recognized by the American Lawyer as among the top 25 “Dealmakers of the Year" for 2008. The annual list recognizes outstanding transactional attorneys for their work across a wide range of industries. "Everyone knew it was a terrible, horrible, no-good, very bad year," the magazine wrote. "But even – or perhaps especially – in the most challenging environments, a cadre of lawyers rose to the occasion."
Lee Meyerson ’81, a partner at Simpson Thacher & Bartlett and head of the firm's financial institutions practice, was honored for his work for the U.S. Department of Treasury crafting the framework of the Troubled Asset Relief Program (TARP), the largest government bank bailout in U.S. history. Over the course of an October weekend, Myerson and his team created an “unprecedented investment template” – a standardized term sheet that could be used by any of the nation’s 8,500 banks to apply for a government loan. “The point was to get money out into banks,” Meyerson told the magazine.
George Kahale III ’74, chairman of Curtis, Mallet-Prevost, Colt & Mosle, was chosen for his representation of KazMunay Gas (KMG) in the renegotiation of a drilling and profit-sharing agreement for the Kazakhstan-owned oil company. Kahale spent 15 months in and out of Kazakh hotel rooms before the final agreement, retaining KMG’s 16.8 percent share of future proceeds and giving Kazakhstan an additional share of sales to cover the cost of delays, was reached in October.
Joshua Korff ’93, a partner at Kirkland & Ellis, represented Clearwire Corporation in its $14.5 billion merger with Sprint Nextel Corporation’s WiMax businesses. Korff played a key role in restructuring Clearwire’s credit facility as the deal world fell apart and credit markets disintegrated. When lenders looked for Clearwire to put up an additional $300 million in capital, Korff convinced Sprint to pledge $200 million to subordinate Clearwire's loan, Clearwire put up just $50 million more, and the deal closed in November.
Eric Dinallo ’90, the superintendent of the New York State Insurance Department, helped facilitate an $11 billion influx of capital into the insurance industry in 2008. When insurance giant AIG faced a major liquidity crisis last fall, he and his colleagues worked on a potential transaction involving the state of New York and private equity players. As federal officials stepped in, Dinallo and his staff vouched for the severity of AIG's problems while explaining the underlying value of the parent company's insurance subsidiaries.