Award Chambers & Partners

America's Leading Lawyers for Business 2007: Energy: Electricity

Chambers & Partners has compiled their independent and objective list of America's Leading Lawyers for Business based on comments gathered from thousands of interviews with clients and lawyers from Maine to Hawaii. This guide -- which is designed to reflect market opinion -- contains a view of the firms and attorneys who are considered leaders in their field.

In Chambers' 2007 review of national legal talent in the area of "Energy: Electricity," our Firm and our lawyers are listed among the best in the country.

Chambers' comments:

District of Columbia Ranking: 3

The Firm: This talented group offers expertise in the energy M&A, litigation and regulatory fields, establishing itself as a market leader for representing IPPs in the USA and overseas. The lawyers are considered especially effective in restructuring and litigation matters, drawing on the firm’s stellar bankruptcy provision to advise on a host of major energy bankruptcies such as those of NRG Energy, Cornerstone Propane Partners and Calpine. The group has also been successful in several FERC trials and other energy-related litigation matters. Considered “a strong shop” by competitors, a number of new partners have brought hedging derivatives, regulatory and transactional skills to the practice. Commodities, energy trading and swaps are also features of the workload. Additionally, the team is well placed to take advantage of the upswing in private equity and hedge fund investment in the energy space, with highlights including advising Madison Dearborn Partners on its acquisition of the Astoria Generating portfolio of major New York power plants from Reliant. The lawyers also represented Madison Dearborn Partners in its $150 million investment in UPC Wind Pertners. Additionally, the team closed $400 million of divestitures for former bankruptcy client Calpine, taking the lead in all of its asset sales, such as the Dayton Power & Light plant. Clients are optimistic that the team will continue to build on its success, stating: “It is very high quality - I felt that it did a first-class job in every respect and on every front.”

The Lawyers: “Senior, broad-gauged lawyer” Mitch Hertz is co-head of the energy practice and recognized for his strong transactional capability, particularly in energy-related M&A. Clients praised his “pragmatic and commercial approach” and his “fantastic people skills in contentious negotiations.” As BG North America makes a push into the electricity space, he has been retained by the company to advise on its asset purchases, and he also serves as outside counsel for Astoria Generating. Clients commended fellow cochair Neil Levy for his diligence, attentiveness and ability to “make sure all necessary constituents are kept in the loop.”

Clients/Work Highlights: The team counseled key client Constellation Energy on the corporate and regulatory aspects of its attempted merger with Florida Power & Light. Other major clients include Calpine; Union Power Partners; SUEZ Energy North America; InterGen; Tenaska; Dynegy; LS Power; Exelon; Dayton Power & Light; Reliant Resources and NRG Energy.

Reprinted with permission from Chambers USA, America’s Leading Lawyers for Business 2007 -