Case Studies

Presence

Emergencies don't wait for someone's schedule. 

We've represented a large publically held Indian computer and consulting company with global operations, including subsidiaries in the United States, for some time. Recently they called with great news; they were in discussions to acquire a company here in the United States and sought to hire the company's officers and employees.

One detail though--they needed the deal to be negotiated, papered and closed "immediately." Within hours we put together a team of attorneys to handle the corporate, employment, intellectual property, real estate and other aspects of the deal. We crossed time zones to work with the target company's counsel in New York and our clients in India...and we got the deal done on schedule.  And our client couldn't have been more pleased.

Having attorneys sophisticated enough to handle cross-border transactions on a rapid basis is not enough. We provide our clients with full access to our attorneys whenever they need them. Opportunities are not nine to five on weekdays, so why should your attorneys be?

It started with a simple game of golf. One of the players mentioned that he knew of a large western state pension fund that was looking to expand its investments into retail real estate. The fund did not have the skills to take on such investments alone.

Jeff Stahl was in the foursome that day and immediately thought that one of our clients might fit the bill. Although our client did not have the history or the size of the industry's more recognized players and at the time had no presence in the western part of the country, Jeff knew the quality of the client’s principals and he knew that their work was stellar. Jeff took the initiative on our client's behalf. Calls were made, introductions took place and deals were struck. Nothing sells like integrity and a great track record.

That small Chicago area developer is now the exclusive retail partner for the pension fund in all of its retail real estate investments west of the Mississippi. Securing the relationship over a host of other larger and more recognized suitors is a testament to our client. We just helped put them in a position to get the work. Since gaining this exclusive relationship, our client's national recognition and reputation have grown exponentially, as has its stable of significant investors and opportunities.

We are more than just lawyers to our clients, we are their partners. As their partners, we are always looking for opportunities for them. Even if it causes us to miss an occasional short putt.

Perseverance

In March of 2006, Dana Corporation, one of the largest automotive part manufacturers in the world with over $9 billion in yearly sales, filed for bankruptcy protection along with 40 of its affiliates. One of the company’s stated goals was complete elimination of its retiree healthcare obligations. In early September of 2006, a committee was appointed by the bankruptcy trustee to represent over 7,200 non-union retirees and their families. The retiree committee considered several law firms. All of the firms had hundreds or thousands of attorneys, except us. The committee looked long and hard and considered who would make their case a priority and fight for them. More importantly, they wanted counsel who would win.

They chose Stahl Cowen.

Led by partners Trent Cornell and Jon Cohen, a team was immediately assembled and we planned an aggressive defense of the retirees’ healthcare benefits. The odds were long and we knew it. Dana had hired one of the largest law firms in the world and backed it up with the best and most expensive financial advisory firms around. That did not intimidate or dissuade us; it was simply part of the challenge.

Months of intense and contentious legal maneuvering followed. The morning trial was set to begin on the elimination of the retiree benefits, our committee reached a settlement with the company. The settlement was valued at approximately $90 million…a far cry from the company’s initial offer of nothing. The cash funds were put into a special trust that provides healthcare benefits to the retirees and their dependents so that they didn’t lose the benefits most had worked their entire lives to get. It was never easy, but perseverance paid off and we could not have been more proud than when we had the privilege of telling the retirees, many of whom thought that all they had worked for had been lost, the good news.