America's Leading Lawyers for Business 2010: Energy: Electricity

Chambers & Partners has compiled its 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' 2010 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:  

Nationwide Ranking: Tier 2

The Firm: Kirkland & Ellis has a leading corporate energy practice. Although best known for its relationships in the independent power community, the firm's practice extends into the oil & gas area as well. It has expertise in everything from corporate M&A and capital markets to restructurings. Particular praise is leveled at the close integration of its teams in New York, Washington, DC, and Chicago and the exceptional caliber of its associate ranks. Recent work highlights include acting for Flying J on its corporate restructuring and the $335 million sale of Longhorn Pipeline to Magellan, as well as representing NRG in its defense of the hostile takeover attempt by Exelon.

Sources Say: "Kirkland's lawyers have world-class expertise and the ability to handle things from experience."

Key Individuals: Mitch Hertz focuses on energy M&A and restructuring, but can handle any corporate energy matter, up to and including FERC filings, although he does not get involved in FERC matters on a day-to-day basis. Clients identify his skill at the negotiating table as his biggest strength: "He has great foresight, which enables him to build consensus between corporations," observes one. His highlights include representing Constellation in the proposed $4.7 billion merger with MidAmerican Energy, and acting for NRG on its approximately $288 million acquisition of the retail business of Reliant Energy, and a related $1.5 billion financing. Elaine Walsh impresses clients and peers with her grasp of energy trading, hedging, credit sleeves and M&A, which she combines with expertise in FERC regulatory matters. She handles the regulatory components of the firm's transactions, and also leads the work on energy trading and finance. She is lauded as "direct and efficient, but always utterly pleasant and good humored." She led the $1.5 billion financing related to NRG's acquisition of Reliant's retail business. Anthony Danti is a younger partner who has worked alongside Mitch Hertz on power and oil & gas transactions. He is "very organized and very thoughtful, and can take command of a room and a negotiation."

Reprinted with permission from Chambers USA, America's Leading Lawyers for Business 2010 — www.chambersandpartners.com.