Milbank, Tweed, Hadley & McCloy
Encyclopedia
Milbank, Tweed, Hadley & McCloy LLP (commonly known as Milbank) is a United States law firm
Law firm
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other...

 headquartered in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

. It also has offices in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....

, Los Angeles
Los Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...

, London, Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...

, Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...

, Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...

, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...

, São Paulo
São Paulo
São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...

, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...

 and Beijing
Beijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...

.

Milbank is a global law firm, with approximately 550 lawyers who provide a full range of financial and business legal services to many of the world's leading financial, industrial and commercial enterprises, as well as governments, institutions and individuals.

History

Milbank's roots are traced back to 1866, with the inception of the original firm, Anderson, Adams & Young set up in 1866 and then as Murray & Aldrich merged in April 1929, with Webb, Patterson & Hadley to become Murray, Aldrich & Webb. In 1931, the Firm merged with Masten & Nichols to become Milbank, Tweed, Hope & Webb. The Firm's present name dates from 1962.
For decades, the firm's biggest clients were the Rockefeller family
Rockefeller family
The Rockefeller family , the Cleveland family of John D. Rockefeller and his brother William Rockefeller , is an American industrial, banking, and political family of German origin that made one of the world's largest private fortunes in the oil business during the late 19th and early 20th...

 and the Chase Manhattan Bank
Chase Manhattan Bank
JPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000...

. The firm also advised the Vanderbilt family
Vanderbilt family
The Vanderbilt family is an American family of Dutch origin prominent during the Gilded Age. It started off with the shipping and railroad empires of Cornelius Vanderbilt, and expanded into various other areas of industry and philanthropy...

, members of the Mellon
Mellon
- People :* Ailsa Mellon Bruce , daughter of Andrew William Mellon, philanthropist* Alfred Mellon , British composer and conductor* Andrew W. Mellon , one of the longest serving U.S. Treasury Secretaries in history...

and Johnson
Johnson
Johnson is an English, Scottish, and Irish name of Norman origin. The name itself is a patronym of the given name John, literally meaning "son of John." The name John derives from Latin Johannes, which is derived through Greek Ἰωάννης Iōannēs, from Hebrew יוחנן Yohanan meaning "Yahweh has favoured"...

families, and Jacqueline Onassis.

The firm was responsible for the legal work on the building of Rockefeller Center
Rockefeller Center
Rockefeller Center is a complex of 19 commercial buildings covering between 48th and 51st streets in New York City, United States. Built by the Rockefeller family, it is located in the center of Midtown Manhattan, spanning the area between Fifth Avenue and Sixth Avenue. It was declared a National...

, and its offices can still be found in the One Chase Manhattan Plaza
One Chase Manhattan Plaza
One Chase Manhattan Plaza is a banking skyscraper located in the downtown Manhattan Financial District of New York City, between Pine, Liberty, Nassau, and William Streets. Construction on the building was completed in 1961...

. After World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...

  the firm advised new commercial and industrial developments.
Milbank created hedge funds and other investment vehicles for financial clients in the 1960s, 1970s and 1980s and capitalized on the growth of international business, finance, and technology transactions in the 1990s. Today, Milbank has offices in many of the world's financial centers, including London, Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...

, Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...

, Tokyo, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...

, Hong Kong and Beijing, in addition to domestic offices in Los Angeles and Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....


Albert G. Milbank

Albert G. Milbank had been a partner in the firm of Masten & Nichols; when that firm merged with Murray, Aldrich & Webb, he became a senior partner of the newly formed Milbank, Tweed, Hope & Webb. While a partner of the Firm, Mr. Milbank was also a member of the board of directors of the Welfare Board of New York City and Greater New York, as well as of the New York War Fund and the National Institute of Social Science. He was a trustee emeritus of Princeton University
Princeton University
Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....

 and a trustee of the Pierpont Morgan Library. Among the many honors he received was that of Honorary Commander of the Most Excellent Order of the British Empire - Civil Division. In 1946, he received the first annual Award Medal of the Welfare Council for Distinguished Service to the Community. He was instrumental in establishing the Milbank Memorial Fund, an endowed operating foundation that works to improve health by helping decision makers in the public and private sectors acquire and use the best available evidence to inform policy for health care and population health. See www.milbank.org.
On March 16, 1933, at the annual dinner of the Milbank Memorial Fund at the New York Academy of Medicine, Milbank urged state-wide compulsory health care insurance systems on a contributory basis of percentage of Employes' Pay and Employers' profits to defray the expenses. Also at the dinner, Dr. G.F. McCleary praised the British methods saying they raised medical standards in England. (From New York Times March 17, 1933)

Harrison Tweed

Harrison Tweed
Harrison Tweed
Harrison Tweed, , was a New York City lawyer and civic leader.-Life and career:Tweed was born in New York City on October 18, 1885. He was the son of Charles Harrison Tweed, the general counsel for the Central Pacific Railroad, Chesapeake and Ohio and other affiliated railroad corporations, and...

 became a member of Murray, Prentice & Aldrich, a predecessor of Milbank, in 1920. He also served as president of the American Law Institute
American Law Institute
The American Law Institute was established in 1923 to promote the clarification and simplification of American common law and its adaptation to changing social needs. The ALI drafts, approves, and publishes Restatements of the Law, Principles of the Law, model codes, and other proposals for law...

, chaired the American Law Institutes's Committee on Continuing Legal Education in collaboration with the American Bar Association
American Bar Association
The American Bar Association , founded August 21, 1878, is a voluntary bar association of lawyers and law students, which is not specific to any jurisdiction in the United States. The ABA's most important stated activities are the setting of academic standards for law schools, and the formulation...

, and was also president of the Association of the Bar of the City of New York
Association of the Bar of the City of New York
The New York City Bar Association , founded in 1870, is a voluntary association of lawyers and law students. Since 1896, the organization, formally known as the Association of the Bar of the City of New York, has been headquartered in a landmark building on 44th Street, between Fifth and Sixth...

. In addition, he served as president of Sarah Lawrence College
Sarah Lawrence College
Sarah Lawrence College is a private liberal arts college in the United States, and a leader in progressive education since its founding in 1926. Located just 30 minutes north of Midtown Manhattan in southern Westchester County, New York, in the city of Yonkers, this coeducational college offers...

, president of the Legal Aid Society
Legal Aid Society
The Legal Aid Society in New York City is the United States' oldest and largest provider of legal services to the indigent. It operates both traditional civil and criminal law cases.-History:...

, and was appointed by President John F. Kennedy
John F. Kennedy
John Fitzgerald "Jack" Kennedy , often referred to by his initials JFK, was the 35th President of the United States, serving from 1961 until his assassination in 1963....

 as the first chair of the Lawyers' Committee for Civil Rights Under Law
Lawyers' Committee for Civil Rights Under Law
The Lawyers' Committee for Civil Rights under Law, often simply The Lawyers' Committee for Civil Rights or Lawyers' Committee, is a civil rights organization that was founded in 1963 at the request of President John F. Kennedy.-Origins: 1963-1973:...

. He had great interest in the arts, and was known for his dedication in assisting young artists as well as his wit, integrity and keen sense of humor.

Morris Hadley

Morris Hadley came to the firm in 1929. He represented many large corporations, both in the United States and abroad. He authored two books: one, a biography of his father who had been president of Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...

, and the other entitled The Citizen and the Law. Mr. Hadley was a trustee of the Russell Sage Foundation
Russell Sage Foundation
The Russell Sage Foundation is the principal American foundation devoted exclusively to research in the social sciences. Founded in 1907 and headquartered in New York City, the foundation is a research center, a funding source for studies by scholars at other institutions, and a key member of the...

 and also sat on the board of trustees of both the Pierpont Morgan Library and the New York Public Library
New York Public Library
The New York Public Library is the largest public library in North America and is one of the United States' most significant research libraries...

 where, from 1943–1958, he served as president.

John J. McCloy

John J. McCloy
John J. McCloy
John Jay McCloy was a lawyer and banker who served as Assistant Secretary of War during World War II, president of the World Bank and U.S. High Commissioner for Germany...

 was originally a partner at Cravath, Swaine & Moore
Cravath, Swaine & Moore
Cravath, Swaine & Moore LLP is a prominent American law firm based in New York City, with an additional office in London. The second oldest firm in the country, Cravath was founded in 1819 and consistently ranks first among the world's most prestigious law firms according to a survey of partners,...

 in New York, and joined what is today Milbank in 1946, after serving as Assistant Secretary of War from 1941-1945 under President Franklin Delano Roosevelt. He left the firm in 1947 to serve as president of the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...

, and was appointed by President Harry S. Truman
Harry S. Truman
Harry S. Truman was the 33rd President of the United States . As President Franklin D. Roosevelt's third vice president and the 34th Vice President of the United States , he succeeded to the presidency on April 12, 1945, when President Roosevelt died less than three months after beginning his...

 as High Commissioner of Germany in 1949. In 1952, he returned to the private sector and served as chair of the Chase National Bank, which under his leadership became the Chase Manhattan Bank
Chase Manhattan Bank
JPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000...

 in 1955. During this period, he also served as chair of the Ford Foundation
Ford Foundation
The Ford Foundation is a private foundation incorporated in Michigan and based in New York City created to fund programs that were chartered in 1936 by Edsel Ford and Henry Ford....

. He returned to Milbank in 1961, but was almost immediately appointed by President John F. Kennedy
John F. Kennedy
John Fitzgerald "Jack" Kennedy , often referred to by his initials JFK, was the 35th President of the United States, serving from 1961 until his assassination in 1963....

 as his Special Assistant on Disarmament. McCloy also served as a member of the Warren Commission
Warren Commission
The President's Commission on the Assassination of President Kennedy, known unofficially as the Warren Commission, was established on November 27, 1963, by Lyndon B. Johnson to investigate the assassination of United States President John F. Kennedy on November 22, 1963...

 following the assassination
John F. Kennedy assassination
John Fitzgerald Kennedy, the thirty-fifth President of the United States, was assassinated at 12:30 p.m. Central Standard Time on Friday, November 22, 1963, in Dealey Plaza, Dallas, Texas...

 of President Kennedy. He thereafter returned to Milbank, which was renamed Milbank, Tweed, Hadley & McCloy, and remained a general partner for 27 years, until he passed away in 1989.

At Milbank, McCloy acted for the "Seven Sisters" (the leading multinational oil companies, including Exxon
Exxon
Exxon is a chain of gas stations as well as a brand of motor fuel and related products by ExxonMobil. From 1972 to 1999, Exxon was the corporate name of the company previously known as Standard Oil Company of New Jersey or Jersey Standard....

), in their initial confrontations with the nationalisation movement in Libya
Libya
Libya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....

 - as well as negotiations with Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...

 and OPEC
OPEC
OPEC is an intergovernmental organization of twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings...

. Because of his stature in the legal world and his long association with the Rockefellers, and as a seven-time presidential adviser, he is sometimes referred to as the "Chairman of the American Establishment".

Turks & Brahmins: upheaval at Milbank, Tweed

In 1990, Ellen Joan Pollock published Turks & Brahmins: Upheaval at Milbank, Tweed, a book chronicling Milbank's history and transformation into a high-grossing late-20th century megafirm.

The book notes that Milbank was at one time the largest law firm in the country, with a carefully nurtured "insular, noble culture." For 50 years, from 1931 to 1981, the firm never took on a lateral partner from another firm; all of its 65 or so partners had apprenticed with the firm from mostly Ivy league
Ivy League
The Ivy League is an athletic conference comprising eight private institutions of higher education in the Northeastern United States. The conference name is also commonly used to refer to those eight schools as a group...

 schools. Until 1984, no Milbank partner had ever left the firm to become a lateral-hire partner elsewhere. However, by 1984, the legal market have revolutionized as both new and old firms ballooned in size, dumped lockstep compensation
Lockstep compensation
Lockstep compensation is a system of remuneration in which the employees' salaries are based purely on their seniority within the organization. For example, in the legal profession, where this system is most commonly found, all law school graduates hired by a law firm who graduated in the same...

 for "merit" systems that rewarded achievers, raided each other for star players, and hustled ceaselessly for clients. Pollock's book narrates how, during the latter half of the 1980s, a determined group of partners transformed Milbank - more than doubling its size and luring on board such glamorous laterals as former Abscam
Abscam
Abscam was a United States Federal Bureau of Investigation sting operation run from the FBI's Hauppauge, Long Island, office in the late 1970s and early 1980s...

 prosecutor Thomas Puccio and the Asian-business rainmaking dynamo, Alice Young. By 1989, profits per partner had doubled what they were in 1984, and the firm's overall revenues had tripled. The book brings to life the numerous personalities on both sides of the Milbank revolution, chronicling the displacement and decay of what Tom Wolfe
Tom Wolfe
Thomas Kennerly "Tom" Wolfe, Jr. is a best-selling American author and journalist. He is one of the founders of the New Journalism movement of the 1960s and 1970s.-Early life and education:...

 called "the old Protestant aristocracy" that once ruled the United States.

New York headquarters

Milbank's New York office, the headquarters of the firm, offers clients a full range of domestic and international financial legal services. Located in the heart of New York City's Financial District
Financial District, Manhattan
The Financial District of New York City is a neighborhood on the southernmost section of the borough of Manhattan which comprises the offices and headquarters of many of the city's major financial institutions, including the New York Stock Exchange and the Federal Reserve Bank of New York...

, steps from Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...

 and the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...

, the New York office has been at the forefront of major financial legal trends since its founding in 1866. The firm occupies twelve floors of One Chase Manhattan Plaza
One Chase Manhattan Plaza
One Chase Manhattan Plaza is a banking skyscraper located in the downtown Manhattan Financial District of New York City, between Pine, Liberty, Nassau, and William Streets. Construction on the building was completed in 1961...

. The Wall Street Station of the 2/3 subway line runs through the basement of the building.

Other United States offices

In addition to the firm's headquarters in New York City, Milbank maintains two offices in the United States.

Washington, D.C.

There are approximately 45 attorneys in Milbank's Washington, D.C. practice, located at 1850 K Street, NW in the nation's capital. The D.C. office combines the expertise of the firm's traditional "Wall Street" practice - including a focus on complex international transactions and arbitrations and nationwide litigation - with experience in dealing with the federal government and the various multilateral institutions located in Washington.

Los Angeles

Milbank's Los Angeles office is home to more than 80 attorneys, and is the largest office outside of the firm's New York City headquarters. The office, located on South Figueroa Street, delivers the firm's full range of legal services. Many of the attorneys in the L.A. office has national and international reputations as leading practitioners in their fields, including Partner Linda Dakin-Grimm who was recognized in May 2007 as a Top Woman Litigator by the Los Angeles Daily Journal.

International offices

As counsel to foreign corporations with U.S. interests and U.S. corporations operating overseas, Milbank forged international relationships that endure today. In 1925, for example, the firm worked on a proposed Japanese bond issue for the Toho Electric Power Company. Fifty-two years later, in 1977, Milbank opened the first American law office in Tokyo, ten years before any other American law firm. Today, Milbank offices are located in key geographic regions to serve clients across the globe.

London

Milbank's London office opened nearly 30 years ago, and today offers a range of services under both English and New York law. Today, there are 45 attorneys in Milbank's London office.
The firm recently relocated to its new quarters at 10 Gresham Street in the City of London
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...

, London's financial district.

Sao Paulo

Milbank announced in April 2010 that once regulatory approvals were obtained, it would launch an office in São Paulo, Brazil to better serve its Latin American and international clients doing business in Brazil and the region.

Asia/Pacific (Tokyo, Singapore, Beijing, Hong Kong)

Milbank's commitment to Japan began in 1925, when founding partner Morris Hadley traveled to Yokohama
Yokohama
is the capital city of Kanagawa Prefecture and the second largest city in Japan by population after Tokyo and most populous municipality of Japan. It lies on Tokyo Bay, south of Tokyo, in the Kantō region of the main island of Honshu...

 to prepare an indenture for the Toho Electric Power Company. In 1977, Milbank became the first U.S. law firm to establish an office in Tokyo under its own name. That same year, Milbank became one of the first international law firms to open an office in Hong Kong. Milbank was again one of the first U.S. first to open an office in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...

, and did so in 1985. The firm opened its Beijing office in 2006, though it has been active in China since the early 1990s.

Germany (Frankfurt, Munich)

The approximately 30 lawyers that make up Milbank's German practice in Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...

 and Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...

 focus on legal advice in corporate, finance and tax matters.

The Frankfurt office was established in 2001, and the Munich office opened in 2004. The German offices work closely with Milbank's London and US offices to complete complex cross-border financing transactions.

Practice areas

While not an exhaustive list, below are a number of the firm's most recognized practice areas. Firm litigators are also active on a range of public policy issues including animal rights advocacy with groups like the Humane Society of the United States
Humane Society of the United States
The Humane Society of the United States , based in Washington, D.C., is the largest animal advocacy organization in the world. In 2009, HSUS reported assets of over US$160 million....

.

Corporate/mergers & acquisitions

The lawyers in the Milbank Global Corporate Group represent organizations in a broad range of regulated and non-regulated industries, from energy, healthcare, and pharmaceuticals to financial services, gaming, technology, telecommunications, and media, in connection with their most difficult and important domestic, international, and cross-border transactions; securities compliance matters; and corporate defense, proxy contests, and shareholder activism issues.

The firm has advised both negotiated and hostile transactions, including mergers and consolidations, stock and asset acquisitions and dispositions, strategic alliances, joint ventures, proxy contests and tender offers, leveraged and management buyouts, restructurings and bankruptcy reorganizations, and other complex, cutting-edge transactions. Milbank's clients include strategic buyers and sellers, private equity investors and their portfolio companies, lenders, financial advisors, boards of directors and management teams, government financial institutions, and other parties.

Financial restructuring

Milbank’s attorneys have played instrumental roles in several of the largest and most complicated bankruptcy cases in US history. Milbank litigators have achieved recoveries for debtors, senior creditors, official and ad hoc creditor committees, equity holders, and other parties in interest. Milbank has served as counsel to the Official Committee of Unsecured Creditors in the Chapter 11 cases of Enron
Enron
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications, and pulp and paper companies, with...

 and Refco
Refco
Refco was a New York-based financial services company, primarily known as a broker of commodities and futures contracts. It was founded in 1969 as "Ray E. Friedman and Co." Prior to its collapse in October, 2005, the firm had over $4 billion in approximately 200,000 customer accounts, and it was...

 and its litigators played a part in representing the agent to the senior secured lenders of Global Crossing
Global Crossing
Global Crossing Limited was a telecommunications company that provides computer networking services worldwide. It maintained a large backbone and offered transit and peering links, VPN, leased lines, audio and video conferencing, long distance telephone, managed services, dialup, colocation and...

. According to Business Week magazine, Milbank is "the leading specialist in the representation of creditors,".

Intellectual property

Milbank’s intellectual property practice group provides comprehensive legal services to the world’s leading electronic, pharmaceutical, chemical and consumer product companies. Recognized as a leading US patent litigation practice by Managing Intellectual Property and in Europe by Legal Week, Milbank has a truly global reach. Its clients represent an array of international companies such as Fujitsu
Fujitsu
is a Japanese multinational information technology equipment and services company headquartered in Tokyo, Japan. It is the world's third-largest IT services provider measured by revenues....

, Hitachi
Hitachi, Ltd.
is a Japanese multinational conglomerate headquartered in Marunouchi 1-chome, Chiyoda, Tokyo, Japan. The company is the parent of the Hitachi Group as part of the larger DKB Group companies...

, Research In Motion
Research In Motion
Research In Motion Limited or RIM is a Canadian multinational telecommunications company headquartered in Waterloo, Ontario, Canada that designs, manufactures and markets wireless solutions for the worldwide mobile communications market...

, AstraZeneca
AstraZeneca
AstraZeneca plc is a global pharmaceutical and biologics company headquartered in London, United Kingdom. It is the world's seventh-largest pharmaceutical company measured by revenues and has operations in over 100 countries...

 and Bayer
Bayer
Bayer AG is a chemical and pharmaceutical company founded in Barmen , Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany and well known for its original brand of aspirin.-History:...

, as well as leading US companies such as Fisher Price, Anheuser Busch, JPMorgan Chase, NASCAR
NASCAR
The National Association for Stock Car Auto Racing is a family-owned and -operated business venture that sanctions and governs multiple auto racing sports events. It was founded by Bill France Sr. in 1947–48. As of 2009, the CEO for the company is Brian France, grandson of the late Bill France Sr...

 and Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...

. In addition to representing clients in trial, appellate and administrative proceedings, Milbank provides comprehensive dispute resolution and problem-solving advice.

Leveraged finance

Milbank’s Leveraged Finance Group advises financial institutions, companies and private equity clients on all aspects of leveraged transactions, including senior, subordinated and mezzanine debt transactions, bridge financings and high yield bond offerings. This practice group is composed of partners and associates who focus on executing leveraged finance transactions of all types.

The leveraged finance team regularly represents a number of the world’s leading financial institutions and private equity firms and has extensive experience in structuring complex debt instruments that have been utilized in a wide variety of leveraged loan and high yield financing transactions. Milbank's leveraged finance group has particular strengths in first lien, second lien and unsecured loans and bonds; leveraged buyouts, recapitalizations and going private transactions; asset based and cash flow based financings; working capital and letter of credit facilities; structured financings; debtor-in-possession financings and exit financings; financial restructurings; and bridge financings.

The group has advised ABN AMRO
ABN AMRO
ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis...

, Advent
Advent
Advent is a season observed in many Western Christian churches, a time of expectant waiting and preparation for the celebration of the Nativity of Jesus at Christmas. It is the beginning of the Western liturgical year and commences on Advent Sunday, called Levavi...

, Apollo Advisors, Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...

, The Carlyle Group, Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...

, Credit Suisse
Credit Suisse
The Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:...

, Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...

, Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...

, Goldman Sachs Mezzanine, Goldman Sachs PIA, JPMorgan Chase, Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...

, Madison Dearborn Partners, Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...

, Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....

, and many others.

Litigation and arbitration

Milbank's international arbitration group has achieved significant successes for corporations, financial institutions and governments in high stakes arbitrations around the world. Members of the group have been hailed by Euromoney Guide and other publications as leaders in their field. A key focus of Milbank's international arbitration group is resolving investor-governmental disputes pursuant to international investment treaties. Representations have involved electricity, gas, transportation and mining concessions; joint-venture agreements; satellite and other insurance coverage; construction; and energy distribution.

White-collar crime and investigations

Milbank's litigation group includes a white collar practice. Lawyers in the group include former federal prosecutors, SEC attorneys and a former federal district and court of appeals judge. The firm has defended clients in several high-profile investigations of the financial industry, including investigations of tax shelters; revenue-sharing and market-timing practices of mutual funds; soft-dollar and directed brokerage practices of investment advisors and broker-dealers; specialist trading; and revenue-sharing practices of insurance carriers and brokers.

Project finance

Milbank is best known for its Project Finance Department and is widely considered the leading Project Finance law firm in the world.

Milbank’s Global Project Finance Department, comprising more than 100 attorneys (including 17 partners) in offices worldwide, is fully qualified to provide legal advice under both U.S. and English law. The group has pioneered the application of limited recourse project finance techniques internationally for more than 25 years and has worked on a large number if not most of the leading project financings in the world. Over the past three years, Milbank has closed more than 140 project financings which raised more than $85 billion for infrastructure projects across the globe. In these financings, the group represented various project participants, including credit providers, underwriters, advisors, sponsors, project joint ventures, insurers, contractors, government agencies and multilateral institutions.

Milbank’s Global Project Finance Department has traditionally been engaged in projects in industries such as power
Electric power
Electric power is the rate at which electric energy is transferred by an electric circuit. The SI unit of power is the watt.-Circuits:Electric power, like mechanical power, is represented by the letter P in electrical equations...

 (including independent power projects, cogeneration
Cogeneration
Cogeneration is the use of a heat engine or a power station to simultaneously generate both electricity and useful heat....

, coal, hydro
Hydroelectricity
Hydroelectricity is the term referring to electricity generated by hydropower; the production of electrical power through the use of the gravitational force of falling or flowing water. It is the most widely used form of renewable energy...

, nuclear
Nuclear power
Nuclear power is the use of sustained nuclear fission to generate heat and electricity. Nuclear power plants provide about 6% of the world's energy and 13–14% of the world's electricity, with the U.S., France, and Japan together accounting for about 50% of nuclear generated electricity...

, wind
Wind power
Wind power is the conversion of wind energy into a useful form of energy, such as using wind turbines to make electricity, windmills for mechanical power, windpumps for water pumping or drainage, or sails to propel ships....

 and alternative power), power transmission and distribution, pipelines
Pipeline transport
Pipeline transport is the transportation of goods through a pipe. Most commonly, liquids and gases are sent, but pneumatic tubes that transport solid capsules using compressed air are also used....

, oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....

 and gas and petrochemicals (including exploration, production, storage, refining, gasification, LNG and production platforms), telecommunications and space
Space
Space is the boundless, three-dimensional extent in which objects and events occur and have relative position and direction. Physical space is often conceived in three linear dimensions, although modern physicists usually consider it, with time, to be part of a boundless four-dimensional continuum...

 (including cellular
Mobile phone
A mobile phone is a device which can make and receive telephone calls over a radio link whilst moving around a wide geographic area. It does so by connecting to a cellular network provided by a mobile network operator...

, cable
Cable
A cable is two or more wires running side by side and bonded, twisted or braided together to form a single assembly. In mechanics cables, otherwise known as wire ropes, are used for lifting, hauling and towing or conveying force through tension. In electrical engineering cables are used to carry...

, fixed, mobile, direct broadcast, broadband
Broadband
The term broadband refers to a telecommunications signal or device of greater bandwidth, in some sense, than another standard or usual signal or device . Different criteria for "broad" have been applied in different contexts and at different times...

 and satellite
Satellite
In the context of spaceflight, a satellite is an object which has been placed into orbit by human endeavour. Such objects are sometimes called artificial satellites to distinguish them from natural satellites such as the Moon....

 imaging systems), waste disposal and recycling
Recycling
Recycling is processing used materials into new products to prevent waste of potentially useful materials, reduce the consumption of fresh raw materials, reduce energy usage, reduce air pollution and water pollution by reducing the need for "conventional" waste disposal, and lower greenhouse...

, water treatment, mining
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...

 and natural resources (including aluminum, coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...

, copper
Copper
Copper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...

, gold
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...

, iron
Iron
Iron is a chemical element with the symbol Fe and atomic number 26. It is a metal in the first transition series. It is the most common element forming the planet Earth as a whole, forming much of Earth's outer and inner core. It is the fourth most common element in the Earth's crust...

, steel
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...

, zinc
Zinc
Zinc , or spelter , is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table. Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2...

, uranium
Uranium
Uranium is a silvery-white metallic chemical element in the actinide series of the periodic table, with atomic number 92. It is assigned the chemical symbol U. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons...

, titanium
Titanium
Titanium is a chemical element with the symbol Ti and atomic number 22. It has a low density and is a strong, lustrous, corrosion-resistant transition metal with a silver color....

 and other natural resources and metals), pulp
Wood pulp
Pulp is a lignocellulosic fibrous material prepared by chemically or mechanically separating cellulose fibres from wood, fibre crops or waste paper. Wood pulp is the most common raw material in papermaking.-History:...

 and paper
Paper
Paper is a thin material mainly used for writing upon, printing upon, drawing or for packaging. It is produced by pressing together moist fibers, typically cellulose pulp derived from wood, rags or grasses, and drying them into flexible sheets....

, transportation (including airports, rail
Rail transport
Rail transport is a means of conveyance of passengers and goods by way of wheeled vehicles running on rail tracks. In contrast to road transport, where vehicles merely run on a prepared surface, rail vehicles are also directionally guided by the tracks they run on...

, roads and shipping
Shipping
Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...

) and other types of infrastructure
Infrastructure
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function...

.

As the project finance marketplace has evolved, Milbank has expanded its worldwide practice to include asset disposition, restructuring, portfolio securitization, credit enhancement and political risk mitigation techniques.

Real estate

Milbank provides counsel to domestic and foreign financial institutions, banks, insurance companies, investment banks, developers, investors and others who participate in complex real estate transactions. The firm has a longstanding involvement in the field of real estate finance and development. Commencing with Rockefeller Center
Rockefeller Center
Rockefeller Center is a complex of 19 commercial buildings covering between 48th and 51st streets in New York City, United States. Built by the Rockefeller family, it is located in the center of Midtown Manhattan, spanning the area between Fifth Avenue and Sixth Avenue. It was declared a National...

 in the 1930s and continuing with Lincoln Center in New York, L'Enfant Plaza
L'Enfant Plaza
L'Enfant Plaza is a complex of one governmental and three commercial buildings, as well as the "La Promenade" shopping mall, in the Southwest section of Washington, D.C. The plaza is located south of Independence Avenue SW between 12th and 9th Streets SW...

 in Washington, Embarcadero Center
Embarcadero Center
Embarcadero Center is a commercial complex of five office towers and two hotels on a site located off the Embarcadero in the financial district of San Francisco, California. The Trammell Crow, David Rockefeller and John Portman development was begun with Tower One in 1971, with the last...

 in San Francisco and many other projects, Milbank lawyers have represented developers and investors in the financing and development of many of the nation’s premier real estate projects. Such representation typically has included advice and assistance in all phases of development from initial conceptual planning through equity and loan financing and construction to operation, refinancing and disposition.

Milbank’s real estate lawyers are experienced in the entire spectrum of mortgage transactions, including construction financing, participating and convertible mortgages, sale-leaseback transactions, REIT loans, performing and non-performing mortgage pool financings, mezzanine debt transactions, project financings and securitizations. Milbank attorneys have played important roles in an array of complex and creative financing
Creative financing
Creative financing is a term used widely amongst real estate investors to refer to non-traditional means of real estate financing, or financing techniques not commonly used. The goal of creative financing is generally to purchase, or finance a property, with the buyer/investor using as little of...

s and, during the recent recession, were involved with the debt restructuring of numerous high profile real estate developers, including Donald Trump
Donald Trump
Donald John Trump, Sr. is an American business magnate, television personality and author. He is the chairman and president of The Trump Organization and the founder of Trump Entertainment Resorts. Trump's extravagant lifestyle, outspoken manner and role on the NBC reality show The Apprentice have...

, Olympia & York, Peter Kalikow, William Zeckendorf
William Zeckendorf
William Zeckendorf, Sr. was a prominent American real estate developer. Through his development company Webb and Knapp – for which he began working in 1938 and which he purchased in 1949 – he developed a significant portion of the New York City urban landscape.-Career:Zeckendorf's...

, Bernard Mendik, A. Alfred Taubman
A. Alfred Taubman
Adolph Alfred Taubman is an American real estate developer and philanthropist from Michigan. He pioneered the modern shopping mall concept and was described by CBS News as a "legend in retailing" who became wealthy developing upscale shopping malls. He built shopping mall developer Taubman Centers...

, Melvin Simon, Leona and Harry Helmsley
Harry Helmsley
Harry B. Helmsley was an Americanentrepreneur who built a company that became one of the biggest property holders in the United States...

, Harry Macklowe and Trammel Crow.

The group has also been involved in the renovation or restoration of numerous historic properties, including the Statue of Liberty
Statue of Liberty
The Statue of Liberty is a colossal neoclassical sculpture on Liberty Island in New York Harbor, designed by Frédéric Bartholdi and dedicated on October 28, 1886...

 and the old Federal Reserve Bank of San Francisco
Federal Reserve Bank of San Francisco
The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states-—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington--plus the Northern Mariana Islands, American Samoa,...

 building.

Regulatory

Milbank has an active broker-dealer regulatory practice providing counsel to many of Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...

's leading financial institutions. The firm’s expertise includes advice to clients on trading, research, clearing and prime brokerage, and syndicate and investment banking practices. Milbank attorneys represent firms and their management in examinations, inquiries, or investigations conducted by the SEC, NASD, NYSE or other securities regulators. Finally, the attorneys conduct regulatory risk assessments, and assist clients in developing effective and practical supervisory and compliance programs.

Reinsurance

Milbank represents both cedants and reinsurers, from trial and appellate cases to mediation and arbitration, in complex disputes involving property/casualty and life/health insurance. Recently, the firm defended a Bermuda-based reinsurer in investigations by US and European regulators into the use of finite/nontraditional reinsurance products. The firm also won a major victory in the US Supreme Court in favor of insurers who challenged California's purported regulation of European life insurers and reinsurers. In a separate matter, Milbank obtained full rescission of a reinsurance treaty for several major reinsurers in a fraud dispute against worker's compensation insurers. In addition, Milbank obtained an order to consolidate 46 reinsurance disputes involving 21 reinsurance treaties – Milbank also prevailed on the merits of the case.

Securities

According to Legal 500, Milbank has one of the leading securities
Security (finance)
A security is generally a fungible, negotiable financial instrument representing financial value. Securities are broadly categorized into:* debt securities ,* equity securities, e.g., common stocks; and,...

 litigation practices in the nation, representing clients in some of the most influential cases ever brought under the federal securities laws. Milbank attorneys have represented financial institutions, issuers, broker-dealers, investment advisers, accounting firms and individuals in hundreds of class and derivative actions. These matters have involved securities fraud, disclosure, public offerings, insider trading
Insider trading
Insider trading is the trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company...

, market manipulation, mergers and acquisitions
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...

, conflicts of interest, self-dealing
Self-dealing
Self-dealing is the conduct of a trustee, an attorney, a corporate officer, or other fiduciary that consists of taking advantage of his position in a transaction and acting for his own interests rather than for the interests of the beneficiaries of the trust, corporate shareholders, or his clients...

, among other issues. The firm is also a recognized leader in defending mutual fund
Mutual fund
A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.- Overview :...

 actions brought under the ’40 Act.

Tax

Milbank has a very dynamic tax practices, and lawyers work in specialized, but overlapping, practice teams organized to ensure highly-developed legal expertise, intensive contact with the business environment in each practice area and unparalleled efficient delivery of highly valued advice. With practitioners of UK and German tax law along with established relationships with preeminent tax counsel around the world, Milbank's tax group is especially effective in developing cross-border solutions for transactions originating in Asia, Europe and the United States.

Milbank's tax practice has particular expertise in M&A and private equity, corporate finance, executive compensation and employee benefits, financial restructuring, international, transportation finance, project finance and litigation.

Transportation finance

Milbank's Global Transportation Finance Group was recognized as "Best Law Firm" in a poll conducted in 2003 by Aircraft Economics Magazine. The group has earned various "Deal of the Year" awards from industry periodicals. The Transportation Finance group regularly works with the Firm's tax, structured finance, capital markets and bankruptcy attorneys to structure complex and often "first of its kind" transactions.

The group has devised innovative financing structures and techniques which have become standard-bearers for the industry, and has participated in financings for companies throughout North and South America, Europe, Asia, Africa, and Australia. Milbank's clients represent a cross-section of major players in asset financings, including investment banks, manufacturers, export agencies, borrowers, lenders, airlines, equity participants and lessees. Transactions typical of Milbank practice are public and private asset-based securitizations and structured financings, cross-border and export financings, secured lending, leveraged leasing, project financings and bankruptcy workouts and restructurings.

The firm has worked on several of the most significant securitizations of aircraft — including ALPS 94-1, ALPS 96-1, Aircraft Finance Trust (AFT), Lease Investment Flight Trust (LIFT), enhanced equipment trust certificate (EETC) financings, including the first prefunded EETC.

Trusts & estates

Milbank's Trusts and Estates
Trusts and estates
The law of trusts and estates is generally considered the body of law which governs the management of personal affairs and the disposition of property of an individual in anticipation of the event of such person's incapacity or death, also known as the law of successions in civil law...

 practice serves both individual and institutional clients, in the United States and internationally. The group works in the areas of estate planning, trust and estate administration, charitable giving, advising institutional fiduciaries, creating and advising exempt organizations, and trusts and estates litigation.

Milbank serves as counsel to such as Neuberger Berman
Neuberger Berman
Neuberger Berman Group LLC, through its subsidiaries is an investment management firm that provides financial services for high net worth individuals and institutional investors. With approximately $200 billion in asset under management, it is among the largest private employee-controlled asset...

 Trust Company, the Rockefeller Trust Company, Chase Domestic and International Private Bank, and J.P. Morgan. We have advised various families in the formation of family trust companies, including the Rockefeller family
Rockefeller family
The Rockefeller family , the Cleveland family of John D. Rockefeller and his brother William Rockefeller , is an American industrial, banking, and political family of German origin that made one of the world's largest private fortunes in the oil business during the late 19th and early 20th...

, and the Dart
Dart
-Dart:In popular culture* Dart , an Image Comics superhero* Dart Feld, the central character of the PlayStation RPG, The Legend of Dragoon* Wraith dart, an attack spacecraft on Stargate Atlantis....

family. We also represent the American Cancer Society
American Cancer Society
The American Cancer Society is the "nationwide community-based voluntary health organization" dedicated, in their own words, "to eliminating cancer as a major health problem by preventing cancer, saving lives, and diminishing suffering from cancer, through research, education, advocacy, and...

, Lincoln Center for the Performing Arts
Lincoln Center for the Performing Arts
Lincoln Center for the Performing Arts is a complex of buildings in the Lincoln Square neighborhood of New York City's Upper West Side. Reynold Levy has been its president since 2002.-History and facilities:...

, the Metropolitan Museum of Art
Metropolitan Museum of Art
The Metropolitan Museum of Art is a renowned art museum in New York City. Its permanent collection contains more than two million works, divided into nineteen curatorial departments. The main building, located on the eastern edge of Central Park along Manhattan's Museum Mile, is one of the...

, Rockefeller University
Rockefeller University
The Rockefeller University is a private university offering postgraduate and postdoctoral education. It has a strong concentration in the biological sciences. It is also known for producing numerous Nobel laureates...

, The Museum of Modern Art, the Whitney Museum, Vassar College
Vassar College
Vassar College is a private, coeducational liberal arts college in the town of Poughkeepsie, New York, in the United States. The Vassar campus comprises over and more than 100 buildings, including four National Historic Landmarks, ranging in style from Collegiate Gothic to International,...

, and many charitable organizations.

Rankings and recognition

Milbank placed 11th on the American Lawyers 2007 Gold List, recognizing its success in the areas of profitability, diversity, and pro bono
Pro bono
Pro bono publico is a Latin phrase generally used to describe professional work undertaken voluntarily and without payment or at a reduced fee as a public service. It is common in the legal profession and is increasingly seen in marketing, technology, and strategy consulting firms...

 work. This year, the firm placed 24th on the Vault law firm prestige rankings, moving up from its 2006 ranking of 28th. Additionally, the firm is top ranked in both Chambers Europe and Chambers USA in a number of its practices.

Lawdragon, a guide to the nation's best and brightest trial attorneys, included Milbank's own James Benedict and Scott Edelman in its list of leading Litigators in America. Additionally, the Best Lawyers in America 2007 included 28 Milbank attorneys in its survey, including practitioners specializing in banking, bankruptcy, commercial litigation, corporate governance, corporate/M&A, employee benefits, energy, equipment finance, information technology, project finance, securities, tax, trust and estates, white collar criminal defence, and international arbitration.

Milbank is ranked Number 1 in Technology and IT Outsourcing by Chambers USA 2006 and partners Robert Finkel and Debra Alligood White are identified as leading attorneys and up-and-coming individuals respectively. Milbank associate Janet Parkhurst is named as an "associate-to-watch" in this sector. Chambers USA 2006 also designated Milbank as having the Top Rated Aviation Finance Practice in the United States. Chambers guide stated that Milbank "dominates" this sector. The guide identified Elliot Gewirtz as a "true leader in his field" and partner Drew Fine’s knowledge and expertise is "unparalleled." Milbank partners Hugh Robertson, Helfried Schwarz and Alvin Leong were also included as leading attorneys in the aircraft finance sector.

Los Angeles-based partners Ed Feo and Ken Baronsky were both identified as two of the Top 100 Lawyers in California in 2006 by the Los Angeles Daily Journal and San Francisco Daily Journal.

Euromoney’s Guide to the World’s Leading Law Firms (2003 edition) lists Milbank as the "Most Recommended Project Finance Law Firm", and Infrastructure Journal (2002 edition) designates Milbank as "No. 1 Global Legal Advisor", "No. 1 Power Legal Advisor", "No. 1 North America Legal Advisor", "No. 1 Telecoms Legal Advisor" and "No. 1 Latin America Legal Advisor". Additionally, Euromoney’s Project Finance Book of Lists awarded Milbank the "No. 1 in the Overall Global" ranking, as well as "No. 1 in Petrochemical" and "No. 1 in Latin America". Milbank has been cited by Privatisation International three times as the "Most Active Law Firm in the World" engaged in the project financing of major infrastructure projects. Additionally, The American Lawyer recognized Milbank as the "No. 1 in Global Project Finance Law Firm" in three of the past four years.

Recent awards include:
    1. 1 Legal Adviser to Arrangers in 2006 by number of renewable energy transactions (New Energy Finance)
    2. 2 Legal Adviser to Arrangers in 2006 by total value of renewable energy transactions (New Energy Finance)
  • Renewable Energy Global Top 10 Legal Advisers 2006 (# 1 in project value, number of deals and market share percentage) (Dealogic)
  • Renewable Energy U.S. Top 10 Legal Adviser 2006 (# 1 in project value, number of deals and market share percentage) (Dealogic)
  • Global Projects and Energy Law Firm of the Year (Chambers, 2006)
  • Equity Deal of the Year and Project Finance Deal of the Year, 2006 International Financial Law Review Americas Awards
  • Euromoney’s Project Finance magazine for Milbank's role in ten "Deals of the Year" for deals closed in 2006, with an aggregate capital cost of $16 billion
  • North American Project Finance Law Firm of the Year (Chambers, 2005)
  • Satellite Law Firm of the Year for the total volume of deals (9) and the total volume of bond and loan deals totaling $5.4 billion (Satellite Finance, 2005)
  • European Project Finance Team of the Year, International Financial Law Review, 2006
  • Project Finance Deal of the Year, International Financial Law Review, 2006
  • Debt & Equity Deal of the Year – Mandra Forestry, International Financial Law Review, 2006
  • Power Deal of the Year 2005, Project Finance International Yearbook 2006
  • Power Deal of the Year 2005, Project Finance magazine
  • Law Firm of the Year, Global Water Intelligence (2006)
  • Latin American Mining Deal of the Year 2005 and 2006, Project Finance magazine
  • North American Renewables Deal of the Year 2006, Project Finance magazine
  • North American Project Bond Deal of the Year 2005, Project Finance magazine
  • North American Refinancing Deal of the Year 2005 and 2006, Project Finance magazine
  • North American Oil & Gas Deal of the Year 2005, Project Finance magazine
  • North American Infrastructure Deal of the Year 2005, Project Finance magazine
  • North American Single Asset Power Deal of the Year 2005, Project Finance magazine
  • North American Merchant Power Deal of the Year 2005, Project Finance magazine
  • Asia-Pacific Deal of the Year 2005, Project Finance magazine
  • Finance Asia Achievement Awards for 2005: Best Non-Investment Grade Bond Deal; Best Equity Deal; Best Privatization Deal; Best IPO Deal; Best China Deal; Deal of the Year
  • Asian Counsel Awards: Deal of the Year 2005
  • Asian Legal Business Awards 2005: Debt Market Deal of the Year; Equity Market Deal of the Year; M&A Market Deal of the Year; China Deal of the Year
  • 2008 ALB SE Asia Law Awards: Deal of the Year; Project Finance Deal of the Year
  • 2008 ALB Hong Kong Law Awards: Deal of the Year; M&A Deal of the Year

External links

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