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   Selected Transactions

Below are selected corporate transactions on which Stephen Kaplitt acted as lead or associate counsel during his 19-year law firm and in-house legal career.

Parties  Transaction  Value  
Beacon Financial Corporation/
Beacon Trust Company/
Beacon Global Asset Management, Inc./
The Provident Bank
Acquisition (Stock) $10 million
Spectron Laser Systems Limited/
GSI Lumonics Inc.  
Acquisition (Asset)  $6 million  
Lumenis Inc./
CureLight Ltd. 
Distribution/License Agreement   $5 million  
Lumenis Inc./
WaveLight Laser Technologie AG
Distribution/Global License Agreement  $35 million
Lumenis Inc./                                                
Eclipse Medical, Ltd.  
Distribution and Buyout Option Agreement $15 million
International Finance Corp./
Alexandria Automotive Casting Corp. 
Debt Investment    $15 million  
International Finance Corp./
FSB Bank International PLC
Convertible Debt Investment  $35 million
International Finance Corp./
Standard Bank of South Africa Ltd./                
Morgan Guaranty Trust Co. of              
New York (South Africa)
Warehouse Credit Facility    
$125 million 
International Finance Corp./
Micro-Enterprise Bank of the
Equity Investment  $500,000 
International Finance Corp./
Caspi Limited
Debt Investment $2 million
International Finance Corp./
AB Lifosa  
Quasi-Equity/Debt Investments  $45 million 
International Finance Corp./
Internationale Micro Investitionen
Equity Investment  $2 million  
International Finance Corp./
Reval Hotel Group, Inc.
Equity/Debt Investments    $10 million 
International Finance Corp./
Severoslovenské Celulózky a
Papierne, A.S. 
Quasi-Equity/Debt Investments  $70 million  
International Finance Corp./
Finance One Public Co. Ltd. 
Debt Investment (Liquidation)   $178 million
International Finance Corp./
Iljin Industries Co., Ltd.  
Equity/Subordinated Convertible Notes $15 million   
International Finance Corp./
Shinmoorim Paper Mfg. Co., Ltd.
Equity/Subordinated Convertible Notes  $55 million      
International Finance Corp./
Hana Bank 
Equity/Debt/Subordinated Convertible Notes  $152 million
International Finance Corp./
Korea Long Term Credit Bank      
Subordinated Convertible Notes   $25 million 
Rheinbraun AG/
Du Pont Energy Co./
Consol Energy Inc. 
Acquisition (Stock)  $500 million  
Rheinbraun AG/
Cameco Corporation/
Uranerz Exploration and Mining Ltd.   
Acquisition (Asset/Stock)  $320 million
Golden Books Publishing Co., Inc./
Mail-Well I Corp.   
Acquisition (Asset)   $20 million    
MJGC Corp. Acquisition (Asset)   $1 million
The Renco Group, Inc./
WCI Steel, Inc.  
"Going Private" Equity Tender Offer  $56 million 
XM Net, Inc.  Regulation D Private Placement   $1 million
Integrated Business Systems, Inc.    Acquisition (Stock)   $300,000  
Skandia America Corporation/
Skandia America Reinsurance Corp./
Fairfax Financial Holdings, Ltd.   
Acquisition (Stock)     $230 million  
Turner Freight Systems, Inc./
Gaines Motor Lines, Inc.     
Acquisition (Asset)    $1 million  
Confed. Life Ins. and Annuity Co.
In Rehabilitation/
Aetna Life Ins. and Annuity Co.
Acquisition (Asset/Stock)   $250 million  
Lehman Bros. Inc./
Gemini Air Cargo LLC 
Equity Investment   $23 million
Wassall PLC/
General Cable Corporation  
Acquisition (Equity Tender)  $83 million
Prudential Ins. Co./
Securitized Asset Sales, Inc. 
Securitization   $210 million  
Prudential Ins. Co./
Securitized Asset Sales, Inc. 
Securitization  $76 million
Executive Enterprises, Inc.  Acquisition (Asset) $8 million 
National Intergroup, Inc./
FoxMeyer Corporation 
Equity Tender Offer   $45 million
Odyssey Partners, L.P./            
Union Carbide Corp.  
Acquisition (Asset)    $300 million


I’m still a little unclear on how your role differs from a regular lawyer. How, exactly, do you bring value to our organization ?

That depends on your business, how your legal affairs are currently managed, the nature and volume of legal work, and whether you have in-house legal staff or regular outside counsel. Some clients want basic advice on how to reduce legal costs or improve results. For others, a bottom-up legal review of policies, procedures and operations may be in order. Many businesses without regular counsel delegate legal issues to their finance, human resources or risk departments. While these arrangements may suffice for routine matters, they can backfire when hidden problems go undetected.

KLC is both an alternative to a full-time general counsel and a supplemental tool to reduce your dependence on outside counsel. KLC is not a substitute for the specialized skills and resources of law firms, but it can help clients leverage those resources more efficiently. The only inherent downside to law firms is their business model: partners billing higher rates at lower volume, and armies of associates and support staff billing lower rates at higher volume.

This structure makes sense for large or complex matters, but it also means that client needs are molded to fit the law firm process. Clients without in-house counsel are especially prone to overdependence on costly law firms. KLC is for clients who want better value and control over their legal affairs. Neither a law firm nor a conventional solo practice, KLC has the experience and autonomy to find value alternatives and improve almost any client’s legal bottom line.

  © 2009 Kaplitt Legal Consulting