Finanzas

Practice Group



In the News

Haynes and Boone in Law360: Haynes and Boone Adds 3 Finance Pros in NY, Dallas

Haynes and Boone, LLP said Monday the firm has fortified its finance practice group in its New York and Dallas offices with the addition of three K&L Gates LLP attorneys who have experience in banking and energy-related commodities finance. >>

Three-lawyer Finance Team Adds Commercial Banking Capabilities to New York and Dallas Offices

NEW YORK / DALLAS – Haynes and Boone, LLP is expanding its sophisticated finance capabilities with the addition of a group of three lawyers led by a senior partner, Steven H. Epstein - a highly regarded practitioner with extensive experience representing commercial banks in complex financings, including energy-related commodities finance. >>

Eduardo Aguirre in Latin Lawyer: Haynes and Boone Hires Former US Ex-Im Vice-Chairman

Eduardo Aguirre joined the firm on 14 January as a non-legal senior adviser in Houston, where he will also assist with inbound investment, banking and finance, energy and immigration matters. >>



Recent Publications

CFTC Loosens Requirements for Swaps for Utility Special Entities

On March 21, 2014, the Division of Swap Dealer and Intermediary Oversight (“Division”) of the CFTC issued a no-action relief letter (the “2014 Letter”), to temporarily allow entities to deal in utility operations-related swaps, as defined in the 2014 Letter, without counting such swaps towards the “sub-limit” threshold for swap dealer registration with regard to such swaps. >>

Final FFIEC Guidance - "Social Media: Consumer Compliance Risk Management Guidance"

On December 17, 2013, the Federal Financial Institutions Examination Council (the “FFIEC”) issued the Social Media: Consumer Compliance Risk Management Guidance for financial institutions. >>

Prosecutors Obtain First RICO Conviction in a Cybercrime Case

A federal jury in Nevada recently convicted 22-year-old David Ray Camez of violating the Racketeering Influenced and Corrupt Organizations Act (“RICO”) for his association with a “carder” website, Carder.su. >>

Dodd-Frank Update: Cross-Border Application

The U.S. Commodity Futures Trading Commission has issued interpretive guidance regarding which Dodd-Frank requirements apply to certain non-U.S. swap transactions. >>




Strategic Disposition

Our Client
Atlanta-based Mirant Corporation, an independent power company

The Opportunity
Mirant wanted to sell a group of utilities and power generation facilities in Jamaica, Trinidad, the Bahamas and Curaçao.  Mirant management wanted to move swiftly – we were hired in late July and the client wanted to begin solicitation of competitive bids by September.  Mirant also wanted, naturally, to optimize the price and conditions of the sale, but was unsure whether the best way to accomplish this was to sell the businesses as a group or to break them up into their constituent parts.

The Haynes and Boone Solution
We set up a Web site to coordinate the sale process, using our own ClientConnect® extranet for the back end.  We designed prototype purchase and sale agreements, allowing the businesses to be sold either as a group or on a modular basis, broken up into constituent parts.  This enabled Mirant to put the Caribbean businesses out for competitive bid in an orderly way and to maximize revenues from the sale, as well as to defer their decision on how to consummate the sale or sales until they had the most complete and accurate information possible.  Commonalities in the prototype agreements, and the ability to proceed with either a group or modular sale, allowed the client to make "apples to apples" comparisons regarding price and terms being offered by potential purchasers.

The Outcome
All final bids were evaluated within two weeks of their being received.  In another two weeks, we had a definitive, executed purchase and sale agreement for the businesses.  In the course of advising Mirant, we had to coordinate with in-house lawyers and government officials and others in each country, and deal with issues including rights of consent and rights of first refusal.  We dealt with issues that cut across the breadth of the projects group, including corporate, environmental, energy regulatory, ERISA, tax, and labor and employment issues.

The Caribbean businesses ultimately were sold as a group for $1.1 billion. The deal closed August 8, 2007.

For more information about this case study, please contact Arthur Cohen at +1 202.654.4559 or , Herb Glaser at +1 202.654.4513 or  or Gilbert Porter at +1 212.659.4965 or  .