Bill Bamber was Senior Managing Director at Bear Stearns in its final days. He is also the first person singular "I" in the memoir "Bear Trap: The Fall of Bear Stearns and the Panic of 2008," though Bamber received assistance in writing the book from Andrew Spencer, Director of the Literary Division for the Creative Management Group Agency.
Anyway, regarding the matter discussed in yesterday's entry in this blog, the contract snafu that allowed Bear Stearns to renegotiate the terms of the acquisition, quintupling its cost to JPM ... Bamber's book has this to say.
"The lawyer's name wasn't released, so only a few select individuals know his name. I myself am not part of that great and solemn fraternity who were privy to his name, but whoever he is, I would one day like to find him, buy him a beer and shaking his hand for making me smile when I thought I would never smile again. All because of a single solitary sentence....Those of us who were still sitting around on the trading floor at Bear Stearns, in stark contrast to the vein-popping fit of rage that was consuming Jamie, were in collective fits of laughter bordering on hysterics."
Showing posts with label contract draftsmanship. Show all posts
Showing posts with label contract draftsmanship. Show all posts
Monday, January 25, 2010
Monday, November 16, 2009
Bingham McCutcheon
On October 28th I reported here that dissident shareholders led by Shamrock had won a showdown with the incumbent board of Texas Industries (TXI) the supplier of cement and other building materials (not to be confused with Texas Instruments).
I've just discovered a press release in which the prominent law firm Bingham McCutcheon crows about these results. It tells us that its partners, David Robbins and John Filippone, assisted by associate James Parker, represented Shamrock Activist Value Fund, L.P. in this matter.
Personally, I'm not at all clear about what those three gentlemen did. Did they give advice? Was there ancillary litigation in which they made themselves useful?
There are lots of documents to be drafted in the course of a proxy fight. And of course there are complicated documents that govern the relations among the Shamrock entities and between them and their underlying investors. So there is plenty these gentlemen might have done. I just wish the release they put out had been a little bit more explicit.
I've just discovered a press release in which the prominent law firm Bingham McCutcheon crows about these results. It tells us that its partners, David Robbins and John Filippone, assisted by associate James Parker, represented Shamrock Activist Value Fund, L.P. in this matter.
Personally, I'm not at all clear about what those three gentlemen did. Did they give advice? Was there ancillary litigation in which they made themselves useful?
There are lots of documents to be drafted in the course of a proxy fight. And of course there are complicated documents that govern the relations among the Shamrock entities and between them and their underlying investors. So there is plenty these gentlemen might have done. I just wish the release they put out had been a little bit more explicit.
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