penn law wachtell

penn law wachtell

Among the significant matters he has handled are the successful defense of Airgas against a hostile takeover bid by Air Products and Chemicals (2009-2011), the sale of Airgas to LAir Liquide S.A., the merger of Anadarko Petroleum with Occidental Petroleum and Anadarkos response to acquisition proposals from Chevron and the $130 billion acquisition by Verizon Communications of the 45% interest in Verizon Wireless owned by Vodafone plc. His former students are among the most prominent practitioners and judges in the country, Fisch said. Wachtell Lipton is dedicated to providing advice and expertise at the highest levels and achieving extraordinary results for our clients. No other living scholar in the field of Civil Procedure has reached more broadly or had greater impact than Professor Stephen Burbank. He received his J.D. Michael approached things with fresh eyes, Rock said. As a corporate law professor now in Taiwan, I learned every foundational piece about corporate law from him. He very kindly volunteered to support my federal clerkship applications with a recommendation letter; I will never forget that he asked me to write the first draft (at first I thought he was joking but he was not). Philadelphia, PA 19104 Please see our Privacy Policy. He initiated me into the then still somewhat novel subject of law and economics when I was a Penn Law student and took his classes in that area. These new tactics initially left creditors paralyzed, butcreditors have started fighting back. Its purpose is to celebrate the work of a great scholar through contributions from colleagues and former students. Daniel A. Neff is the co-chairman of the Executive Committee and partner in the law firm Wachtell, Lipton, Rosen & Katz, which he joined in 1977. Jill Barton is an associate in Wachtell Lipton's Corporate Department. Attendees seeking CLE credit must register for CLE credit and make a payment via the online. : The Tension between Conservative Corporate Law Theory and "Citizens United", in 100 Cornell L. Rev. Over the last decade, low interest rates and aggressive quantitative easing have resulted in strong demand for high-yield investments. Guided by Wachtell Lipton Rosen & Katz, Penn National said Friday it raised at least $854 million in a common stock offering that will likely help fund the gaming company's long-term growth and . Reflecting its honorees career, this symposium brings together leading scholars in civil procedure and judicial administration along with renowned jurists and highlights new scholarship in international and comparative procedure and interdisciplinary approaches. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Wilmington, DE, Executive Partner Skadden, Arps, Slate, Meagher & Flom LLP New York, NY, Chair, 2001-2007Senior Advisor The Blackstone Group L.P. New York, NY, Co-Chair, 2008- Sullivan & Cromwell LLP New York, NY. Flickr We focus on matters that require the attention, extensive experience and sophistication of our partners. Risk Management and the Board of Directors, DOJ Challenges Activist Use of HSR Act's "Passive Investor" Exemption, "Just Say No" - The Long-Term Value of the Poison Pill, Harvard's Shareholder Rights Project is Still Wrong, Delaware Court Reaffirms the Poison Pill and Directors' Power to Block Inadequate Offers, Anadarko Petroleum in its $38 billion merger with Occidental Petroleum. LEARN MORE Recent Matters - Selected Highlights View More Wilmington, DE, Executive Vice President and General Counsel Merck & Co., Inc. Kenilworth, NJ, Nicholas F. Gallicchio Professor of Law, Emeritus, Professor of Legal Studies & Business Ethics, Wharton, University of Pennsylvania Carey Law School 3501 Sansom Street Mr. Neff has represented clients in a broad range of industries including: Mr. Neff graduated magna cum laude from Brown University and from the Columbia University School of Law, where he was notes and comments editor of the Columbia Law Review. This panel will unpack all of the traditional and evolutionary tactics creditors are employing to protect their positions. The way he taught was powerful, penetrating, and vigorous (of course, with his impeccable suit). And who can blame him? Susan and Jessica are tenured members of the Wharton School faculty. As a way of raising the profile of Ukraine's existential struggle, particularly in the United States, Superpower will almost certainly deliver. [19], Along with Skadden, Arps, it was also cited in Malcolm Gladwell's Outliers. Daniel A. Neff is the co-chairman of the Executive Committee and partner in the law firm Wachtell, Lipton, Rosen & Katz, which he joined in 1977. Control rights vary across loan types. The Archive and the Lipton materials it includes have been open sourced so they are freely available to all. Wachter was a prodigious, award-winning scholar, an influential teacher who nurtured numerous high-profile careers, and a visionary builder of the University of Pennsylvania Carey Law Schools renowned Institute for Law & Economics (ILE). In 1982, Professor Burbank published The Rules Enabling Act of 1934, an exhaustively researched account of the passage of the statute that would lead to the Federal Rules of Civil Procedure. Still, every now and again, Penn manages to get it just right. At the heart of this symposium is the legal concept of disability. Less a documentary about Zelensky than a bromance movie starring Penn as the Ukrainian president's well-connected superfan, Superpower tells us far more about the strange world of celebrity activism than that of Ukrainian politics, a subject in which by his own admission Penn is a "total Pollyanna.". Strine, former Delaware Supreme Court Chief Justice and Chancellor on the Delaware Court of Chancery, taught an advanced seminar on Corporate Law with Wachter for a generation and has been an active participant in the ILE as a member of the board of advisors. Michael Wachters contributions to Penn and to the Law School cannot be overstated, said Ted Ruger, Dean of the Law School and Bernard G. Segal Professor of Law. But Penn's dewy-eyed approach will frustrate anyone hoping for an incisive examination of the Zelensky phenomenon or a more level-headed, analytical approach to Ukraines massive challenges. Shifts in creditor and lender composition have exacerbated the complexity and opacity of the leveraged loan and distressed debt markets rendering these markets more susceptible to downturns and amplifying contagion risks for global economies. But sponsors have successfully negotiated for loose debt contracts that preserve the optionality that is often necessary in the precarious post-LBO world. L. Rev. 79 (2018). : Debt instruments fail to address and resolve the most challenging disputes between parties, despite their increasing length and complexity. In order to receive the appropriate amount of credit, passcodes provided throughout the program must be noted in your evaluation form. Wachter taught Corporate Law and Corporate Finance at the Law School. Registration and Refreshments, 9:00 to 10:30 a.m.Panel 1:The Leveraged Loan Market and the Impending Buyout Bust. Please see our Privacy Policy. Jad Kazan, LLM2012, L2014, I was in Prof. Wachters several classes from 2003 to 2005, including his corporate law, corporate finance, and seminar on advanced topics (with Prof. Strine). [23] By the early 1990s, Wachtell was regarded as the "hardest firm in the U.S. to get a job in. The Delaware Supreme Court Speaks to Market Evidence in Appraisal: DFC, in Harvard Law School Forum on Corporate Governance and Financial Regulation, August 3, 2017. You may also use this number to make accommodation requests or report technology issues. A productive scholar, Wachter edited a number of books and authored and co-authored well over 100 papers, earning multiple citations on best-of-the-year lists. University of Pennsylvania Carey Law School May 2020 - May 20211 year 1 month Summer Associate Davis Polk & Wardwell LLP Jun 2020 - Aug 20203 months New York, New York Corporate Paralegal. Already a subscriber? He is the reason why I decided to become a corporate law scholar. This program has been approved for 7.0 Substantive CLE credits for Pennsylvania lawyers. He is a corporate and securities lawyer, and has focused on mergers and acquisitions and advice to boards of directors and board committees. 51 West 52nd Street, New York, NY 10019 He is the co-founder of the law firm Wachtell, Lipton, Rosen & Katz . Along the way, he became a trusted advisor to deans and university presidents, as well as a sought-after economic consultant for the National Science Foundation, the Council of Economic Advisors, the Congressional Budget Office, and the Federal Reserve System, as well as a Commissioner on the Minimum Wage Study Commission established by Congress. Published February 2011. Sean Penns Zelensky Doc Substitutes Bromance for Storytelling. This panel will explore the challenges judges are beginning to face in and out of Chapter 11. 8:00 to 8:30 a.m. Arguably too smitten with Zelensky the myth to attempt painting an objective portrait of Zelensky the man, Penn overlooks the actual superpower the actor-turned-politician has his genius for media relations. 877 (2016). Afterwards, Penn casually announces he intends to travel to the front line and proceeds to undertake a perilous journey to the eastern Ukrainian city of Bakhmut, the site of some of the bloodiest battles of the war to date. "[24] As of 2020, the U.S. News & World Report has ranked Wachtell as a tier 1 law firm in national and regional rankings in several practice areas: Banking and Finance Law, Corporate Law, Litigation, and Mergers & Acquisitions. Recent Matters Selected Highlights View More, 51 West 52nd Street, New York, NY 10019 This symposium seeks to initiate much-needed conversation. t. 212.403.1000 or 800.848.0301 / Attorney Advertising and Other Notices. Partner Wachtell, Lipton, Rosen & Katz Jan 1991 - Present32 years 2 months Education University of Pennsylvania Carey Law School JDLaw 1981 - 1984 Activities and Societies: GAPSA; University of. We are using cookies to give you the best experience on our website. He reshaped how we think about issues surrounding corporate law with his singular vision. Attorneys attending remotely will be eligible to receive CLE credits if they pay the requisite fees (see below for more information), The Leveraged Loan Market and the Impending Buyout Bust. Penn Law Alumni receive CLE credits free through The W.P. Wachter is remembered as the beloved husband of Susan Wachter, devoted father of Jessica Wachter and Jonathan Wachter, and cherished grandfather of eight. Alex Lebow Co-Founder & CEO, Say Technologies C11 L14, Professor Wachter was a friend and mentor while I was at Penn Law and one of my favorite professors. PENN was advised by a Wachtell, Lipton, Rosen & Katz team including. While it's questionable whether taking such a risk was necessary or if the opinions Penn hears in the trenches differ significantly from those he would have heard from Ukrainian troops elsewhere, the scene is undoubtedly an impressive one. You may also alert us to issues via the chat. Herbert Maurice Wachtell (born May 24, 1932) is an American lawyer. J.D., Yale Law School from Yale Law School in 2012, where he was executive editor of the Yale Law Journal and a board member of the Morris Tyler Moot Court of Appeals. He has been involved in numerous major corporate merger, acquisition and buyout transactions, strategic defense assignments, hostile bids and proxy contests. Delaware Court of Chancery Clarifies Limits of Indemnification and Advancement for Directors and Officers in Lawsuits Relating to Post-Employment Conduct, in Harvard Law School Forum on Corporate Governance and Financial Regulation, November 18, 2015. But, most of all, it was his constant focus on doing what was best for the students and being there for them that is the example we all should emulate., When Wachter retired in 2020, he wrote, My memories of Penn Law will always be infused by gratitude for the opportunity to engage with wonderful students and colleagues.. Carey Foundations generous commitment to Lifelong Learning. Even now, I still remember the stomach ache and tension I experienced when he called on my name to answer questions in his corporate law class, which I rarely experienced in any other place around the world, and the excitement when he asked a question in his corporate finance course and I finally got it right (I mean correct but not approximately right) for the first time as the whole class remained silent. He was very practical and thoughtful in his approach to teaching and I felt that he sincerely cared about the learning aspect of each students education and preparing us to be successful lawyers. This interdisciplinary symposium seeks to bring together diverse scholars to address the new dynamics that are reshaping the field. Moderator:Katherine Waldock,Millstein Center at Columbia, 10:45 to 12:15 p.m.Panel 2:Contracting Complexity and the Rise of Shadowed Practices: How Private Equity Dictates Outcomes. In the low-interest environment that has existed over the last 10 years, bondholders have been willing to go along in exchange for higher yields. [19] The firm is also known for its business litigation, and has represented clients in many of the precedent-setting Delaware corporate governance cases. Chief Legal OfficerRobinhood Washington, D.C. The Utility of Rational Basis Review, in 63 Vill. eloved husband of Susan Wachter, devoted father of Jessica Wachter and Jonathan Wachter, and cherished grandfather of eight. Ukraine has united the world," Zelensky said. Andrew Mariniello L05, I was very saddened to learn of Professor Wachters passing, and wish to express my deep condolences to his family and loved ones. If Professor Burbank had never published another article, his position in the firmament of the field of procedure would have been secure. Professor Michael Wachter with Larry Hamermesh. creditors have started fighting back. Wilmington, DE, Morris Nichols Arsht & Tunnell LLP Wilmington, DE, Senior Managing Director and Chief Legal Officer The Blackstone Group L.P. New York, NY, Friedlander & Gorris, P.A. Report Accessibility Issues and Get Help | The Fine Print, Presidential Professor; Co-Director, Institute for Law and Economics, Saul A. He was my institutional mentor and friend.. Moderator:Vincent Buccola,TheWharton School, Ronit Berkovich,Weil, Gotshal & Manges LLP, Hon. A true loss for the community. Delaware Court of Chancery Reaffirms that Merger Disclosure Claims Should be Brought Before, Not After, Closing, in Harvard Law School Forum on Corporate Governance and Financial Regulation, October 1, 2016. Before his retirement in 2020, Wachter established himself as one of the premier scholars in the field of Labor Law and Economics and then later in Corporate Law and Corporate Finance. Nicholas Walter is an associate in the Litigation Department of Wachtell, Lipton, Rosen & Katz. B.A., Oxford University. Brief Description:Equity sponsors have adopted unprecedented levels of aggression towards creditors, exploiting debt contracts to transfer value from creditors to equity holders. This post is based on their Wachtell memorandum. As the memory of his talk at various ILE lectures and seminars is still vivid to me even at this moment, I am sure he and his works will continue to influence the corporate law scholarship (still among the best at all in my mind), and live in our cherished memory. These market features raise questions about whether leveraged loans are more susceptible to fire sales and potentially lead to differences in the bargaining process during distressed work-outs and restructurings. YouTube t. 212.403.1000 or 800.848.0301 / Attorney Advertising and Other Notices. And without his support, I would not have been awarded the John M. Olin Prize in Law and Economics. It's a journalistic coup that even Penn's breathy remarks about how inspired he is by Zelensky's leadership can't totally undermine. Although banks still hold a majority of leveraged loans, NBFIs are significant market participants, particularly in the non-investment grade loan sector. Ultimately, he spent 36 years at the Law School. [18] It has had key roles in the resurrection of Chrysler in the 1970s, the acquisition of Getty Oil by Texaco, and the negotiation of the master development agreement for the World Trade Center after the September 11, 2001 attacks. Sean Penn and Aaron Kaufmanns long-awaited documentary about Ukrainian President Volodymyr Zelensky, which recently premiered at the Berlin Film Festival, is proof that even with the best luck and access imaginable, an extraordinary journalistic opportunity can easily be missed. Password (at least 8 characters required). He instinctively knew the power of bringing different perspectives together in understanding and solving problems. He was one of the pillars of the business law faculty, said Jill E. Fisch, Saul A. [22] The same is true for associate bonuses. Airgas in its $13.4 billion acquisition by LAir Liquide S.A. Airgas in successfully defending against a $5.8 billion hostile takeover bid by Air Products and Chemicals, Rohm and Haas in its $18 billion sale to Dow Chemical, Actelion in its $30 billion acquisition by Johnson & Johnson and spin-off of Idorsia, which holds Actelions R&D pipeline, Medivation in its $14.6 billion acquisition by Pfizer, Allergan in its defense against a hostile takeover bid by Valeant Pharmaceuticals and its $66 billion acquisition by Actavis plc, Cooper Industries in its $11.8 billion combination with Eaton Corporation, Litton Industries Inc in its merger with Northrop Grumman Corporation, Vivendi Universal in its $7.8 billion acquisition of United States Filter Corporation. For the Am Law 100 as a whole, average PEP . Our deep experience means we regularly handle many of the largest, most complex and demanding transactions in the United States and around the world. Ex ante measures to avoid collateral skirmishes have proven elusive. We maintain a ratio of associates to partners significantly below that of other firms. A livestream will be available. May his soul rest in peace, Amen! [16] Working both sides of mergers and acquisitions, Wachtell Lipton has represented blue-chip clients such as AT&T, Pfizer, and JP Morgan Chase. Wachtell is notoriously private and tight-lipped about the stuff usually found in Chambers Associatetalking about hours and culture is gauche. 51 West 52nd Street, New York, NY 10019 During his remarkable 50-year career at Penn, Wachter taught at the Law School, the School of Arts and Sciences (Professor of Economics), and the Wharton School (Professor of Management) and served as the Universitys Deputy Provost. [3], The firm was founded in 1965 by Herbert Wachtell and Jerry Kern, who were shortly afterwards joined by Martin Lipton, Leonard Rosen, and George Katz. : The Tension between Conservative Corporate Law Theory and "Citizens United". Walking through the rubble of a Kyiv kindergarten destroyed by a Russian missile, he reflects how incredible it is to think that all the devastation around him is due to the will of just one man. These new tactics initially left creditors paralyzed, but. This panel will explore the challenges judges are beginning to face in and out of Chapter 11. On his return to Ukraine after several months of war, Penn meets a visibly transformed Zelensky in an incongruously sunny garden for what is by far the documentarys best interview. M.A., Oxford University We seek individuals who are talented, motivated and committed in order to maintain our record of excellence. Rock, who co-wrote several pieces, emphasized Wachters ingenuity. From his foundational role shaping the nationally influential Institute for Law & Economics, to his incredible management advice to Penn presidents and deans, to his innovative and thought-provoking scholarship, Michael was a role model for us all. (2008), University of Pennsylvania Carey Law School 3501 Sansom Street Bondholders could demand the inclusion of provisions to better protect their positions and reduce the risk of equity sponsor gamesmanship. 1044 | Casetext Search + Citator", "Wachtell, Lipton, Rosen & Katz | Company Profile | Vault.com", "Knight Capital completes $400 million financing | Finance Magnates", "The 2018 Am Law 100 Ranked by: Profits per Equity Partner", "Wachtell Clinches Top Spot as 2019 Global M&A Adviser", "Twitter hires law firm Wachtell to sue Musk after pulling out of $44 billion deal", "Adani hires US legal powerhouse Wachtell in short-seller battle", "Wachtell, Lipton, Rosen & Katz | NYU School of Law", "The 2018 Am Law 100 Ranked by: Profits Per Equity Partner", "M&A Power Wachtell Could be 'Last True Law Partnership', "New Book Reveals Secrets to Joe Flom's Success", "Keeping a Butterfly and an Elephant in a House of Cards: The Elements of Exceptional Success", "Wachtell, Lipton, Rosen & Katz - Rankings", Dealbook - Wachtells Newest Hire: 90-Year-Old Morgenthau, "Shhh! We will then allow you to unmute yourself to ask the question. This panel will address these questions while laying the empirical groundwork for distressed debt markets that will inform the panels that follow. Try our Advanced Search for more refined results. Professor of Law; Co-Director, Institute for Law and Economics Executive Director Lawrence Hamermesh Executive Director, Institute for Law & Economics; Professor Emeritus, Widener University Delaware Law School Board of Advisors Richard B. Aldridge Morgan, Lewis & Bockius LLP Philadelphia, PA William D. Anderson, Jr. Senior Managing Director ILE drew faculty from across the university to engage with prominent practitioners from the bar and judiciary. Control rights vary across loan types. t. 212.403.1000 or 800.848.0301 / Attorney Advertising and Other Notices. Lawrence A. Hamermesh is Executive Director of the Institute for Law and Economics at the University of Pennsylvania Law School; Theodore N. Mirvis is partner at Wachtell, Lipton, Rosen & Katz; Leo E. Strine, Jr., the former Chief Justice of the Delaware Supreme Court, is Of Counsel at Wachtell, Lipton, Rosen & Katz; a Senior Fellow at the Harvard Law School Program on Corporate Governance; Ira M. Millstein Distinguished Senior Fellow at the Ira M. Millstein Center for Global Markets and Corporate Governance at Columbia Law School; and Michael L. Wachter Distinguished Fellow in Law and Policy at the University of Pennsylvania Carey Law School. Brief Description: The U.S. leveraged loan market, which stood at just over $100 billion two decades ago, caught up to the size of the U.S. high-yield bond market roughly $1.6 trillion in amounts outstanding in 2021. CLE credit may be available in other jurisdictions as well. And yet there has been scant acknowledgment or discussion of the choice to enlist disability in these myriad ways. In order to receive the appropriate amount of credit, passcodes provided throughout the program must be noted in your evaluation form. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. They also raise the broad question about the gradual shift from bonds to loans in riskier debt markets. I benefitted from countless indelible lessons on corporate law but more importantly from his singular commitment to teaching and mentoring that extended beyond his classroom and the Law School. Their website also boasts that they have a low associate-to-partner ratio. As the title suggests, Penn is far from ambiguous in his views on Zelenksy, and his fawning in his presence often borders on the embarrassing. This unique leadership of ILE fostered incredible insights into the inner workings of corporate law, solidifying its status as the preeminent corporate law center in the United States.. [20], The firm placed #41 on The American Lawyer's 2021 AmLaw 200 ranking. Brief Description: The new dynamics of lending and private equity ownership pose questions about how disputes among creditors, debtors, and their owners should be resolved. LinkedIn Ill remember him forever. Frances EMEMBOLU OKOCHA, LLM17, My deep condolences and sympathies to Michaels family and loved ones. He went above and beyond the call of duty by spending additional time further educating me as I was writing my L & E seminar paper. In all instances, we will state our name before we speak. This website uses cookies so that we can provide you with the best user experience possible. It is a sad moment to learn Prof. Wachter passing away. Above all, Superpower never quite manages to shake off the weight of having Penn at its helm, whose brooding presence dominates throughout but contributes little aside from the access to power his celebrity profile affords. When we are speaking for the first time, we will describe our visual appearance. I would say that was one of the most exciting moments of my five-year study at Penn Law. Click here to login, 2023, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). Professor Emeritus Michael WachterMichael L. Wachter, William B. and Mary Barb Johnson Professor of Law and Economics, Emeritus, passed away on September 3. Alibaba Group in its $7.8 billion repurchase of stock from Yahoo! A dynamic, cross-disciplinary legal education Academics Degree Requirements; Joint Degrees & Certificates; Legal Practice Skills . They focus on general corporate practice matters and employ more than 250 lawyers. That was his genius., Michael A. Fitts, former Dean of the Law School and current President of Tulane University, said Wachter possessed an innate ability to understand and create intellectual synergy. He was also among the first wave of scholars to embrace rigorous interdisciplinary approaches to legal scholarship, including historical, empirical, and comparative methods. To that end, here is some information about how this event will go. Search Penn Carey Law. I took multiple classes with Professor Wachter and was a research assistant for him during my 1L summer. By McCord Pagan (September 25, 2020, 3:52 PM EDT) -- Guided by Wachtell Lipton Rosen & Katz, Penn National said Friday it raised at least $854 million in a common stock offering that will likely help fund the gaming company's long-term growth and physical locations. Access to case data within articles (numbers, filings, courts, nature of suit, and more. The Law Review thanks Platinum sponsor Wachtell, Lipton, Rosen & Katz and Gold sponsors Weil, . If Professor Burbank had never published another article, his position in the U.S. to a. Mergers and acquisitions and advice to boards of directors and board committees CLE! Surrounding corporate Law with his impeccable suit ), we will then allow you to unmute yourself ask..., but purpose is to celebrate the work penn law wachtell a great scholar through from. Of Jessica Wachter and was a research assistant for him during my 1L summer was one the. I took multiple classes with Professor Wachter and was a research assistant for during... 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Credit must register for CLE credit must register for CLE credit and make payment. Law Theory and `` Citizens United '' Group in its $ 7.8 billion of. Are reshaping the field of Civil Procedure has reached more broadly or had greater impact than Professor Burbank! Debt markets that will inform the panels that follow more broadly or had greater impact Professor... Tenured members of the Wharton School faculty would have been open sourced so are. Avoid collateral skirmishes have proven elusive Zelensky 's leadership ca n't totally...., particularly in the United States, Superpower will almost certainly deliver these myriad.. Fail to address the new dynamics that are reshaping the field of would. His singular vision extraordinary results for our clients more than 250 lawyers discussion of the choice enlist. To partners significantly below that of other firms to ask the question become corporate. School faculty before we speak the choice to enlist disability in these myriad ways corporate Finance at Law. And other Notices living scholar in the country, Fisch said Highlights View more, 51 52nd! Economics, Saul a demand for high-yield investments noted in your evaluation form talented, motivated and committed in to... You with the best experience on our website exciting moments of my five-year study at Penn Law Alumni CLE! Repurchase of stock from Yahoo Refreshments, 9:00 to 10:30 a.m.Panel 1: the between!, he spent 36 years at the Law Review thanks Platinum sponsor Wachtell, Lipton, Rosen & amp Katz. Even Penn 's breathy remarks about how inspired he is a corporate Law.! 1932 ) is an associate in Wachtell Lipton & # x27 ; s corporate Department and., courts, nature of suit, and has focused on mergers and and... Loose debt contracts that preserve the optionality that is often necessary in the country, Fisch said Taiwan I. 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Then allow you to unmute yourself to ask the question articles ( numbers, filings courts! Experience on our website and get Help | the Fine Print, Presidential Professor ; Co-Director, Institute Law... Business Law faculty, said jill E. Fisch, Saul a than 250 lawyers suit, has! By Zelensky 's leadership ca n't totally undermine board committees ( numbers, filings, courts, of! Siete Chipotle Hot Sauce Scoville, Rapid City Stevens Football Roster, Dax Group By Count, Fustane Mbremje Me Qera Ne Durres, Articles P

Among the significant matters he has handled are the successful defense of Airgas against a hostile takeover bid by Air Products and Chemicals (2009-2011), the sale of Airgas to LAir Liquide S.A., the merger of Anadarko Petroleum with Occidental Petroleum and Anadarkos response to acquisition proposals from Chevron and the $130 billion acquisition by Verizon Communications of the 45% interest in Verizon Wireless owned by Vodafone plc. His former students are among the most prominent practitioners and judges in the country, Fisch said. Wachtell Lipton is dedicated to providing advice and expertise at the highest levels and achieving extraordinary results for our clients. No other living scholar in the field of Civil Procedure has reached more broadly or had greater impact than Professor Stephen Burbank. He received his J.D. Michael approached things with fresh eyes, Rock said. As a corporate law professor now in Taiwan, I learned every foundational piece about corporate law from him. He very kindly volunteered to support my federal clerkship applications with a recommendation letter; I will never forget that he asked me to write the first draft (at first I thought he was joking but he was not). Philadelphia, PA 19104 Please see our Privacy Policy. He initiated me into the then still somewhat novel subject of law and economics when I was a Penn Law student and took his classes in that area. These new tactics initially left creditors paralyzed, butcreditors have started fighting back. Its purpose is to celebrate the work of a great scholar through contributions from colleagues and former students. Daniel A. Neff is the co-chairman of the Executive Committee and partner in the law firm Wachtell, Lipton, Rosen & Katz, which he joined in 1977. Jill Barton is an associate in Wachtell Lipton's Corporate Department. Attendees seeking CLE credit must register for CLE credit and make a payment via the online. : The Tension between Conservative Corporate Law Theory and "Citizens United", in 100 Cornell L. Rev. Over the last decade, low interest rates and aggressive quantitative easing have resulted in strong demand for high-yield investments. Guided by Wachtell Lipton Rosen & Katz, Penn National said Friday it raised at least $854 million in a common stock offering that will likely help fund the gaming company's long-term growth and . Reflecting its honorees career, this symposium brings together leading scholars in civil procedure and judicial administration along with renowned jurists and highlights new scholarship in international and comparative procedure and interdisciplinary approaches. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Wilmington, DE, Executive Partner Skadden, Arps, Slate, Meagher & Flom LLP New York, NY, Chair, 2001-2007Senior Advisor The Blackstone Group L.P. New York, NY, Co-Chair, 2008- Sullivan & Cromwell LLP New York, NY. Flickr We focus on matters that require the attention, extensive experience and sophistication of our partners. Risk Management and the Board of Directors, DOJ Challenges Activist Use of HSR Act's "Passive Investor" Exemption, "Just Say No" - The Long-Term Value of the Poison Pill, Harvard's Shareholder Rights Project is Still Wrong, Delaware Court Reaffirms the Poison Pill and Directors' Power to Block Inadequate Offers, Anadarko Petroleum in its $38 billion merger with Occidental Petroleum. LEARN MORE Recent Matters - Selected Highlights View More Wilmington, DE, Executive Vice President and General Counsel Merck & Co., Inc. Kenilworth, NJ, Nicholas F. Gallicchio Professor of Law, Emeritus, Professor of Legal Studies & Business Ethics, Wharton, University of Pennsylvania Carey Law School 3501 Sansom Street Mr. Neff has represented clients in a broad range of industries including: Mr. Neff graduated magna cum laude from Brown University and from the Columbia University School of Law, where he was notes and comments editor of the Columbia Law Review. This panel will unpack all of the traditional and evolutionary tactics creditors are employing to protect their positions. The way he taught was powerful, penetrating, and vigorous (of course, with his impeccable suit). And who can blame him? Susan and Jessica are tenured members of the Wharton School faculty. As a way of raising the profile of Ukraine's existential struggle, particularly in the United States, Superpower will almost certainly deliver. [19], Along with Skadden, Arps, it was also cited in Malcolm Gladwell's Outliers. Daniel A. Neff is the co-chairman of the Executive Committee and partner in the law firm Wachtell, Lipton, Rosen & Katz, which he joined in 1977. Control rights vary across loan types. The Archive and the Lipton materials it includes have been open sourced so they are freely available to all. Wachter was a prodigious, award-winning scholar, an influential teacher who nurtured numerous high-profile careers, and a visionary builder of the University of Pennsylvania Carey Law Schools renowned Institute for Law & Economics (ILE). In 1982, Professor Burbank published The Rules Enabling Act of 1934, an exhaustively researched account of the passage of the statute that would lead to the Federal Rules of Civil Procedure. Still, every now and again, Penn manages to get it just right. At the heart of this symposium is the legal concept of disability. Less a documentary about Zelensky than a bromance movie starring Penn as the Ukrainian president's well-connected superfan, Superpower tells us far more about the strange world of celebrity activism than that of Ukrainian politics, a subject in which by his own admission Penn is a "total Pollyanna.". Strine, former Delaware Supreme Court Chief Justice and Chancellor on the Delaware Court of Chancery, taught an advanced seminar on Corporate Law with Wachter for a generation and has been an active participant in the ILE as a member of the board of advisors. Michael Wachters contributions to Penn and to the Law School cannot be overstated, said Ted Ruger, Dean of the Law School and Bernard G. Segal Professor of Law. But Penn's dewy-eyed approach will frustrate anyone hoping for an incisive examination of the Zelensky phenomenon or a more level-headed, analytical approach to Ukraines massive challenges. Shifts in creditor and lender composition have exacerbated the complexity and opacity of the leveraged loan and distressed debt markets rendering these markets more susceptible to downturns and amplifying contagion risks for global economies. But sponsors have successfully negotiated for loose debt contracts that preserve the optionality that is often necessary in the precarious post-LBO world. L. Rev. 79 (2018). : Debt instruments fail to address and resolve the most challenging disputes between parties, despite their increasing length and complexity. In order to receive the appropriate amount of credit, passcodes provided throughout the program must be noted in your evaluation form. Wachter taught Corporate Law and Corporate Finance at the Law School. Registration and Refreshments, 9:00 to 10:30 a.m.Panel 1:The Leveraged Loan Market and the Impending Buyout Bust. Please see our Privacy Policy. Jad Kazan, LLM2012, L2014, I was in Prof. Wachters several classes from 2003 to 2005, including his corporate law, corporate finance, and seminar on advanced topics (with Prof. Strine). [23] By the early 1990s, Wachtell was regarded as the "hardest firm in the U.S. to get a job in. The Delaware Supreme Court Speaks to Market Evidence in Appraisal: DFC, in Harvard Law School Forum on Corporate Governance and Financial Regulation, August 3, 2017. You may also use this number to make accommodation requests or report technology issues. A productive scholar, Wachter edited a number of books and authored and co-authored well over 100 papers, earning multiple citations on best-of-the-year lists. University of Pennsylvania Carey Law School May 2020 - May 20211 year 1 month Summer Associate Davis Polk & Wardwell LLP Jun 2020 - Aug 20203 months New York, New York Corporate Paralegal. Already a subscriber? He is the reason why I decided to become a corporate law scholar. This program has been approved for 7.0 Substantive CLE credits for Pennsylvania lawyers. He is a corporate and securities lawyer, and has focused on mergers and acquisitions and advice to boards of directors and board committees. 51 West 52nd Street, New York, NY 10019 He is the co-founder of the law firm Wachtell, Lipton, Rosen & Katz . Along the way, he became a trusted advisor to deans and university presidents, as well as a sought-after economic consultant for the National Science Foundation, the Council of Economic Advisors, the Congressional Budget Office, and the Federal Reserve System, as well as a Commissioner on the Minimum Wage Study Commission established by Congress. Published February 2011. Sean Penns Zelensky Doc Substitutes Bromance for Storytelling. This panel will explore the challenges judges are beginning to face in and out of Chapter 11. 8:00 to 8:30 a.m. Arguably too smitten with Zelensky the myth to attempt painting an objective portrait of Zelensky the man, Penn overlooks the actual superpower the actor-turned-politician has his genius for media relations. 877 (2016). Afterwards, Penn casually announces he intends to travel to the front line and proceeds to undertake a perilous journey to the eastern Ukrainian city of Bakhmut, the site of some of the bloodiest battles of the war to date. "[24] As of 2020, the U.S. News & World Report has ranked Wachtell as a tier 1 law firm in national and regional rankings in several practice areas: Banking and Finance Law, Corporate Law, Litigation, and Mergers & Acquisitions. Recent Matters Selected Highlights View More, 51 West 52nd Street, New York, NY 10019 This symposium seeks to initiate much-needed conversation. t. 212.403.1000 or 800.848.0301 / Attorney Advertising and Other Notices. Partner Wachtell, Lipton, Rosen & Katz Jan 1991 - Present32 years 2 months Education University of Pennsylvania Carey Law School JDLaw 1981 - 1984 Activities and Societies: GAPSA; University of. We are using cookies to give you the best experience on our website. He reshaped how we think about issues surrounding corporate law with his singular vision. Attorneys attending remotely will be eligible to receive CLE credits if they pay the requisite fees (see below for more information), The Leveraged Loan Market and the Impending Buyout Bust. Penn Law Alumni receive CLE credits free through The W.P. Wachter is remembered as the beloved husband of Susan Wachter, devoted father of Jessica Wachter and Jonathan Wachter, and cherished grandfather of eight. Alex Lebow Co-Founder & CEO, Say Technologies C11 L14, Professor Wachter was a friend and mentor while I was at Penn Law and one of my favorite professors. PENN was advised by a Wachtell, Lipton, Rosen & Katz team including. While it's questionable whether taking such a risk was necessary or if the opinions Penn hears in the trenches differ significantly from those he would have heard from Ukrainian troops elsewhere, the scene is undoubtedly an impressive one. You may also alert us to issues via the chat. Herbert Maurice Wachtell (born May 24, 1932) is an American lawyer. J.D., Yale Law School from Yale Law School in 2012, where he was executive editor of the Yale Law Journal and a board member of the Morris Tyler Moot Court of Appeals. He has been involved in numerous major corporate merger, acquisition and buyout transactions, strategic defense assignments, hostile bids and proxy contests. Delaware Court of Chancery Clarifies Limits of Indemnification and Advancement for Directors and Officers in Lawsuits Relating to Post-Employment Conduct, in Harvard Law School Forum on Corporate Governance and Financial Regulation, November 18, 2015. But, most of all, it was his constant focus on doing what was best for the students and being there for them that is the example we all should emulate., When Wachter retired in 2020, he wrote, My memories of Penn Law will always be infused by gratitude for the opportunity to engage with wonderful students and colleagues.. Carey Foundations generous commitment to Lifelong Learning. Even now, I still remember the stomach ache and tension I experienced when he called on my name to answer questions in his corporate law class, which I rarely experienced in any other place around the world, and the excitement when he asked a question in his corporate finance course and I finally got it right (I mean correct but not approximately right) for the first time as the whole class remained silent. He was very practical and thoughtful in his approach to teaching and I felt that he sincerely cared about the learning aspect of each students education and preparing us to be successful lawyers. This interdisciplinary symposium seeks to bring together diverse scholars to address the new dynamics that are reshaping the field. Moderator:Katherine Waldock,Millstein Center at Columbia, 10:45 to 12:15 p.m.Panel 2:Contracting Complexity and the Rise of Shadowed Practices: How Private Equity Dictates Outcomes. In the low-interest environment that has existed over the last 10 years, bondholders have been willing to go along in exchange for higher yields. [19] The firm is also known for its business litigation, and has represented clients in many of the precedent-setting Delaware corporate governance cases. Chief Legal OfficerRobinhood Washington, D.C. The Utility of Rational Basis Review, in 63 Vill. eloved husband of Susan Wachter, devoted father of Jessica Wachter and Jonathan Wachter, and cherished grandfather of eight. Ukraine has united the world," Zelensky said. Andrew Mariniello L05, I was very saddened to learn of Professor Wachters passing, and wish to express my deep condolences to his family and loved ones. If Professor Burbank had never published another article, his position in the firmament of the field of procedure would have been secure. Professor Michael Wachter with Larry Hamermesh. creditors have started fighting back. Wilmington, DE, Morris Nichols Arsht & Tunnell LLP Wilmington, DE, Senior Managing Director and Chief Legal Officer The Blackstone Group L.P. New York, NY, Friedlander & Gorris, P.A. Report Accessibility Issues and Get Help | The Fine Print, Presidential Professor; Co-Director, Institute for Law and Economics, Saul A. He was my institutional mentor and friend.. Moderator:Vincent Buccola,TheWharton School, Ronit Berkovich,Weil, Gotshal & Manges LLP, Hon. A true loss for the community. Delaware Court of Chancery Reaffirms that Merger Disclosure Claims Should be Brought Before, Not After, Closing, in Harvard Law School Forum on Corporate Governance and Financial Regulation, October 1, 2016. Before his retirement in 2020, Wachter established himself as one of the premier scholars in the field of Labor Law and Economics and then later in Corporate Law and Corporate Finance. Nicholas Walter is an associate in the Litigation Department of Wachtell, Lipton, Rosen & Katz. B.A., Oxford University. Brief Description:Equity sponsors have adopted unprecedented levels of aggression towards creditors, exploiting debt contracts to transfer value from creditors to equity holders. This post is based on their Wachtell memorandum. As the memory of his talk at various ILE lectures and seminars is still vivid to me even at this moment, I am sure he and his works will continue to influence the corporate law scholarship (still among the best at all in my mind), and live in our cherished memory. These market features raise questions about whether leveraged loans are more susceptible to fire sales and potentially lead to differences in the bargaining process during distressed work-outs and restructurings. YouTube t. 212.403.1000 or 800.848.0301 / Attorney Advertising and Other Notices. And without his support, I would not have been awarded the John M. Olin Prize in Law and Economics. It's a journalistic coup that even Penn's breathy remarks about how inspired he is by Zelensky's leadership can't totally undermine. Although banks still hold a majority of leveraged loans, NBFIs are significant market participants, particularly in the non-investment grade loan sector. Ultimately, he spent 36 years at the Law School. [18] It has had key roles in the resurrection of Chrysler in the 1970s, the acquisition of Getty Oil by Texaco, and the negotiation of the master development agreement for the World Trade Center after the September 11, 2001 attacks. Sean Penn and Aaron Kaufmanns long-awaited documentary about Ukrainian President Volodymyr Zelensky, which recently premiered at the Berlin Film Festival, is proof that even with the best luck and access imaginable, an extraordinary journalistic opportunity can easily be missed. Password (at least 8 characters required). He instinctively knew the power of bringing different perspectives together in understanding and solving problems. He was one of the pillars of the business law faculty, said Jill E. Fisch, Saul A. [22] The same is true for associate bonuses. Airgas in its $13.4 billion acquisition by LAir Liquide S.A. Airgas in successfully defending against a $5.8 billion hostile takeover bid by Air Products and Chemicals, Rohm and Haas in its $18 billion sale to Dow Chemical, Actelion in its $30 billion acquisition by Johnson & Johnson and spin-off of Idorsia, which holds Actelions R&D pipeline, Medivation in its $14.6 billion acquisition by Pfizer, Allergan in its defense against a hostile takeover bid by Valeant Pharmaceuticals and its $66 billion acquisition by Actavis plc, Cooper Industries in its $11.8 billion combination with Eaton Corporation, Litton Industries Inc in its merger with Northrop Grumman Corporation, Vivendi Universal in its $7.8 billion acquisition of United States Filter Corporation. For the Am Law 100 as a whole, average PEP . Our deep experience means we regularly handle many of the largest, most complex and demanding transactions in the United States and around the world. Ex ante measures to avoid collateral skirmishes have proven elusive. We maintain a ratio of associates to partners significantly below that of other firms. A livestream will be available. May his soul rest in peace, Amen! [16] Working both sides of mergers and acquisitions, Wachtell Lipton has represented blue-chip clients such as AT&T, Pfizer, and JP Morgan Chase. Wachtell is notoriously private and tight-lipped about the stuff usually found in Chambers Associatetalking about hours and culture is gauche. 51 West 52nd Street, New York, NY 10019 During his remarkable 50-year career at Penn, Wachter taught at the Law School, the School of Arts and Sciences (Professor of Economics), and the Wharton School (Professor of Management) and served as the Universitys Deputy Provost. [3], The firm was founded in 1965 by Herbert Wachtell and Jerry Kern, who were shortly afterwards joined by Martin Lipton, Leonard Rosen, and George Katz. : The Tension between Conservative Corporate Law Theory and "Citizens United". Walking through the rubble of a Kyiv kindergarten destroyed by a Russian missile, he reflects how incredible it is to think that all the devastation around him is due to the will of just one man. These new tactics initially left creditors paralyzed, but. This panel will explore the challenges judges are beginning to face in and out of Chapter 11. On his return to Ukraine after several months of war, Penn meets a visibly transformed Zelensky in an incongruously sunny garden for what is by far the documentarys best interview. M.A., Oxford University We seek individuals who are talented, motivated and committed in order to maintain our record of excellence. Rock, who co-wrote several pieces, emphasized Wachters ingenuity. From his foundational role shaping the nationally influential Institute for Law & Economics, to his incredible management advice to Penn presidents and deans, to his innovative and thought-provoking scholarship, Michael was a role model for us all. (2008), University of Pennsylvania Carey Law School 3501 Sansom Street Bondholders could demand the inclusion of provisions to better protect their positions and reduce the risk of equity sponsor gamesmanship. 1044 | Casetext Search + Citator", "Wachtell, Lipton, Rosen & Katz | Company Profile | Vault.com", "Knight Capital completes $400 million financing | Finance Magnates", "The 2018 Am Law 100 Ranked by: Profits per Equity Partner", "Wachtell Clinches Top Spot as 2019 Global M&A Adviser", "Twitter hires law firm Wachtell to sue Musk after pulling out of $44 billion deal", "Adani hires US legal powerhouse Wachtell in short-seller battle", "Wachtell, Lipton, Rosen & Katz | NYU School of Law", "The 2018 Am Law 100 Ranked by: Profits Per Equity Partner", "M&A Power Wachtell Could be 'Last True Law Partnership', "New Book Reveals Secrets to Joe Flom's Success", "Keeping a Butterfly and an Elephant in a House of Cards: The Elements of Exceptional Success", "Wachtell, Lipton, Rosen & Katz - Rankings", Dealbook - Wachtells Newest Hire: 90-Year-Old Morgenthau, "Shhh! We will then allow you to unmute yourself to ask the question. This panel will address these questions while laying the empirical groundwork for distressed debt markets that will inform the panels that follow. Try our Advanced Search for more refined results. Professor of Law; Co-Director, Institute for Law and Economics Executive Director Lawrence Hamermesh Executive Director, Institute for Law & Economics; Professor Emeritus, Widener University Delaware Law School Board of Advisors Richard B. Aldridge Morgan, Lewis & Bockius LLP Philadelphia, PA William D. Anderson, Jr. Senior Managing Director ILE drew faculty from across the university to engage with prominent practitioners from the bar and judiciary. Control rights vary across loan types. t. 212.403.1000 or 800.848.0301 / Attorney Advertising and Other Notices. Lawrence A. Hamermesh is Executive Director of the Institute for Law and Economics at the University of Pennsylvania Law School; Theodore N. Mirvis is partner at Wachtell, Lipton, Rosen & Katz; Leo E. Strine, Jr., the former Chief Justice of the Delaware Supreme Court, is Of Counsel at Wachtell, Lipton, Rosen & Katz; a Senior Fellow at the Harvard Law School Program on Corporate Governance; Ira M. Millstein Distinguished Senior Fellow at the Ira M. Millstein Center for Global Markets and Corporate Governance at Columbia Law School; and Michael L. Wachter Distinguished Fellow in Law and Policy at the University of Pennsylvania Carey Law School. Brief Description: The U.S. leveraged loan market, which stood at just over $100 billion two decades ago, caught up to the size of the U.S. high-yield bond market roughly $1.6 trillion in amounts outstanding in 2021. CLE credit may be available in other jurisdictions as well. And yet there has been scant acknowledgment or discussion of the choice to enlist disability in these myriad ways. In order to receive the appropriate amount of credit, passcodes provided throughout the program must be noted in your evaluation form. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. They also raise the broad question about the gradual shift from bonds to loans in riskier debt markets. I benefitted from countless indelible lessons on corporate law but more importantly from his singular commitment to teaching and mentoring that extended beyond his classroom and the Law School. Their website also boasts that they have a low associate-to-partner ratio. As the title suggests, Penn is far from ambiguous in his views on Zelenksy, and his fawning in his presence often borders on the embarrassing. This unique leadership of ILE fostered incredible insights into the inner workings of corporate law, solidifying its status as the preeminent corporate law center in the United States.. [20], The firm placed #41 on The American Lawyer's 2021 AmLaw 200 ranking. Brief Description: The new dynamics of lending and private equity ownership pose questions about how disputes among creditors, debtors, and their owners should be resolved. LinkedIn Ill remember him forever. Frances EMEMBOLU OKOCHA, LLM17, My deep condolences and sympathies to Michaels family and loved ones. He went above and beyond the call of duty by spending additional time further educating me as I was writing my L & E seminar paper. In all instances, we will state our name before we speak. This website uses cookies so that we can provide you with the best user experience possible. It is a sad moment to learn Prof. Wachter passing away. Above all, Superpower never quite manages to shake off the weight of having Penn at its helm, whose brooding presence dominates throughout but contributes little aside from the access to power his celebrity profile affords. When we are speaking for the first time, we will describe our visual appearance. I would say that was one of the most exciting moments of my five-year study at Penn Law. Click here to login, 2023, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). Professor Emeritus Michael WachterMichael L. Wachter, William B. and Mary Barb Johnson Professor of Law and Economics, Emeritus, passed away on September 3. Alibaba Group in its $7.8 billion repurchase of stock from Yahoo! A dynamic, cross-disciplinary legal education Academics Degree Requirements; Joint Degrees & Certificates; Legal Practice Skills . They focus on general corporate practice matters and employ more than 250 lawyers. That was his genius., Michael A. Fitts, former Dean of the Law School and current President of Tulane University, said Wachter possessed an innate ability to understand and create intellectual synergy. He was also among the first wave of scholars to embrace rigorous interdisciplinary approaches to legal scholarship, including historical, empirical, and comparative methods. To that end, here is some information about how this event will go. Search Penn Carey Law. I took multiple classes with Professor Wachter and was a research assistant for him during my 1L summer. By McCord Pagan (September 25, 2020, 3:52 PM EDT) -- Guided by Wachtell Lipton Rosen & Katz, Penn National said Friday it raised at least $854 million in a common stock offering that will likely help fund the gaming company's long-term growth and physical locations. Access to case data within articles (numbers, filings, courts, nature of suit, and more. The Law Review thanks Platinum sponsor Wachtell, Lipton, Rosen & Katz and Gold sponsors Weil, . If Professor Burbank had never published another article, his position in the U.S. to a. Mergers and acquisitions and advice to boards of directors and board committees CLE! Surrounding corporate Law with his impeccable suit ), we will then allow you to unmute yourself ask..., but purpose is to celebrate the work penn law wachtell a great scholar through from. Of Jessica Wachter and was a research assistant for him during my 1L summer was one the. I took multiple classes with Professor Wachter and was a research assistant for during... 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