Podcasts about milbank llp

Send us a textIn this episode, host Allan Marks and Milbank partners Erwin Dweck, Apostolos Gkoutzinis, Fiona Schaeffer and John Williams forecast what's in store for markets and policy in 2025 in the US, Europe and globally. They also share what they are reading now, recommending surprisingly diverse and wide-ranging books.About the SpeakersErwin Dweck is a partner in the New York office of Milbank LLP, the Practice Group Leader of the firm's Real Estate Group and a member of the firm's Global Executive Committee. Read MoreApostolos Gkoutzinis is a market-leading international corporate finance and securities lawyer and a partner in the firm's European Leveraged Finance/Capital Markets group in London. Read MoreFiona Schaeffer is a member of the firm's Litigation & Arbitration Group and an international antitrust lawyer with over 25 years of experience practicing on both sides of the Atlantic. Read MoreJohn Williams leads the Derivatives practice at Milbank globally and is a member of the firm's Alternative Investment Practice. Read MoreAllan Marks is one of the world's leading project finance lawyers. He has advised developers, investors, lenders, and underwriters in the development and financing of complex energy and infrastructure projects around the world, as well as acquisitions, restructurings and capital markets transactions. He is a Senior Fellow at Columbia University's Center on Sustainable Investment and teaches law at both the University of California, Berkeley and UCLA. Read MoreFor more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, iHeart, Google and Audible.Disclaimer

This Day in Legal History: Alcohol Control Administration CreatedOn December 4, 1933, President Franklin D. Roosevelt established the Federal Alcohol Control Administration (FACA) by executive order, a pivotal moment in the transition away from Prohibition. This action came under the National Industrial Recovery Act, as part of Roosevelt's broader New Deal agenda aimed at economic recovery. FACA was designed to regulate the burgeoning alcohol industry, which was reemerging after years of prohibition, ensuring it operated within fair competition guidelines. The administration focused on creating voluntary codes for brewers, distillers, and wineries to prevent monopolistic practices and maintain equitable market conditions.FACA's creation coincided with the formal repeal of Prohibition under the 21st Amendment, which took effect later that month. However, the agency's lifespan was short-lived. By August 1935, it was replaced by the Federal Alcohol Administration (FAA) through new legislation. The FAA consolidated alcohol regulation within the Treasury Department, laying the groundwork for modern alcohol oversight. Today, the Alcohol and Tobacco Tax and Trade Bureau (TTB), a successor to the Bureau of Alcohol, Tobacco, and Firearms (ATF), continues to fulfill the regulatory role first envisioned by FACA. The establishment and swift evolution of alcohol regulation reflect the complexities of ending Prohibition and integrating alcohol back into the economy under federal oversight.A federal judge in California dismissed Hunter Biden's tax case but criticized the presidential pardon issued by President Joe Biden. Judge Mark C. Scarsi expressed skepticism about the validity of the pardon, noting that it was supported only by a press release and could be interpreted as covering actions beyond its signing date. He questioned the argument that the charges against Hunter were politically motivated, highlighting that the investigation was conducted under the supervision of the President's own Department of Justice.The judge also pointed out inconsistencies in statements by the President, who claimed his son was treated unfairly compared to others with similar tax issues. However, Hunter Biden had admitted to evading taxes while sober, contrary to claims of addiction-related leniency. Despite these critiques, Scarsi determined that the part of the pardon covering Hunter's past conduct required dismissal of the charges in his Los Angeles tax case. The case underscores the legal and political complexities surrounding Hunter Biden's prosecution and the implications of presidential pardons.Judge Slams Hunter Biden Pardon but Tosses California Tax CaseCoinbase CEO Brian Armstrong issued a warning to law firms that hiring former government officials involved in crypto enforcement could result in losing Coinbase as a client. In a Dec. 2 post, Armstrong criticized Milbank LLP for hiring Gurbir Grewal, the former SEC enforcement director who led numerous actions against crypto companies, including Coinbase. Armstrong called this move a mistake, stating Coinbase would never work with Milbank as long as Grewal was there.Paul Grewal, Coinbase's general counsel, supported Armstrong's stance, emphasizing the importance of holding former government lawyers accountable for their actions while in office. He hoped the statement would spark a broader conversation about the “revolving door” between Washington and private law firms. Armstrong's post aims to influence firms not yet on Coinbase's roster to consider the implications of their hiring choices. At a legal panel, Gurbir Grewal defended his actions at the SEC, denying any bias against the crypto industry but acknowledging frustrations with the agency's strict enforcement. Legal experts noted that public ultimatums like Armstrong's are rare, though private client concerns about hiring conflicts are common. Coinbase continues to navigate regulatory tensions, having been charged by the SEC in June 2023 for operating without proper registration and filing its own legal challenges against the agency.Coinbase CEO Threatens Law Firms Over Government Hires (1)A federal court in Texas has issued a nationwide preliminary injunction blocking the Corporate Transparency Act (CTA), which requires U.S. businesses to report their beneficial owners to the Treasury Department. Judge Amos L. Mazzant III ruled in favor of the plaintiffs, including a firearms retailer and the Libertarian Party of Mississippi, who argued that the law exceeded Congress's constitutional authority under the Commerce Clause by targeting all incorporated entities, even those not engaged in commercial activity.The CTA aimed to combat anonymous shell companies and deter financial crimes like money laundering and terrorism financing. However, Judge Mazzant criticized the law as a "quasi-Orwellian statute" that oversteps constitutional limits, asserting that Congress cannot mandate such disclosures solely for law enforcement purposes. He emphasized that the act does not directly regulate commerce, undermining its constitutional basis.The injunction affects an estimated 32.6 million businesses required to comply by 2025. The Justice Department has not yet commented on the ruling. The plaintiffs were represented by S|L Law PLLC and the Center for Individual Rights in the case Texas Top Cop Shop, Inc. v. Garland.Corporate Transparency Act Blocked Nationwide by Texas CourtThe U.S. Supreme Court will hear a pivotal case on the rights of transgender minors, focusing on a Tennessee law that prohibits gender-affirming medical care such as puberty blockers and hormone therapy for those under 18. The Biden administration argues that the law violates the 14th Amendment's equal protection clause by discriminating based on sex and transgender status. This case represents a critical examination of individual rights and the role of government in regulating personal healthcare decisions.Tennessee defends the law as a measure to protect minors from what it calls "risky and unproven" medical treatments, citing international debates and instances of treatment regret. However, major medical associations counter that gender-affirming care is effective and can be life-saving for individuals experiencing gender dysphoria, which is linked to higher suicide rates if untreated.The law has significant consequences for families like that of plaintiff Brian Williams, whose 16-year-old transgender child depends on this care to thrive. Advocates, including the American Civil Liberties Union and Lambda Legal, argue that the law unjustly targets vulnerable youth, while Tennessee officials claim it safeguards children.The Supreme Court, which has a 6-3 conservative majority, will decide on the legality of this ban by June. This decision could set a precedent for similar laws in 23 other states, highlighting critical questions about equality and healthcare access for transgender individuals.US Supreme Court set to hear major transgender rights case | Reuters This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

Allan T. Marks, a partner with Milbank and a member of the firm's Global Project Energy and Infrastructure Finance Group and senior fellow at Columbia University in the Columbia Center on Sustainable Investment, joins Jon Berke on the podcast to discuss the impacts that the incoming Trump administration will have on clean energy policy.More broadly, Marks discusses how the Inflation Reduction Act (IRA) and the Loans Program Office (LPO) under the Department of Energy will be impacted. The two also discuss the impacts that nominees for the Department of Energy and Department of Interior, Chris Wright and Doug Burgum, respectively, will have on clean energy policy.New Project Media (NPM) is a leading data, intelligence, and events company providing origination led coverage of the US and European renewable energy markets for the development, finance, M&A, and corporate community.Download our mobile app.

This Day in Legal History: Gong Lum v. RiceOn November 21, 1927, the U.S. Supreme Court issued its decision in Gong Lum v. Rice, a landmark case concerning racial segregation in public education. The case arose when Martha Lum, a nine-year-old Chinese American girl, was denied entry to a school for white children in Mississippi. Local authorities directed her to attend a school designated for Black students under the state's racially segregated education system. Her father, Gong Lum, challenged the decision, arguing that such segregation violated the Equal Protection Clause of the Fourteenth Amendment.The Supreme Court, however, ruled unanimously that Mississippi's actions were constitutional. It extended the "separate but equal" doctrine established in Plessy v. Ferguson (1896) to include Asian Americans, thereby reinforcing the legality of segregated schools. The Court maintained that states had the authority to classify students by race and assign them to separate schools, as long as the facilities were deemed equal. This decision effectively placed Chinese Americans and other non-White groups under the same discriminatory segregation laws applied to African Americans in the Jim Crow South.The ruling was a significant blow to the Lum family and a stark reminder of the pervasive racial hierarchies embedded in U.S. law at the time. It also illustrated how the "separate but equal" doctrine legitimized widespread exclusion and inequality, beyond Black and White racial dynamics. The precedent set by Gong Lum v. Rice remained unchallenged for decades, contributing to the entrenchment of racially segregated education across the United States.This decision underscored the systemic nature of racial discrimination in early 20th-century America. It wasn't until Brown v. Board of Education in 1954 that the Supreme Court overruled the doctrine of "separate but equal," marking a pivotal shift toward dismantling segregation in public education. Gong Lum v. Rice remains a critical case in the history of American civil rights law, reflecting the broader struggles of minority groups against institutionalized racism.The latest round of year-end bonuses at major law firms reflects a cautious approach to associate compensation as firms prioritize protecting partner profits amid rising revenues. Milbank LLP initiated the bonus announcements, offering payments up to $140,000, including special bonuses introduced earlier in the year. At least five firms have matched Milbank's bonus structure, with others expected to follow. However, the stagnant bonus scale, unchanged since 2021, indicates a broader effort to manage costs while maintaining profitability.This year, firms are separating special bonuses from regular ones to avoid setting new precedents for higher compensation scales. Recruiters note that Milbank's early announcements help attract associate attention, a valuable branding strategy. The firm's financial success, with $1.5 billion in gross revenue and over $5.1 million in profits per equity partner last year, underscores its robust position, even as it faces some high-profile departures and lateral hires.Despite the cautious bonus adjustments, top law firms are thriving. A Wells Fargo survey revealed a 15% revenue increase and a 25% net income rise among the 50 largest firms, driven by higher demand, productivity, and billing rates. Still, associate productivity has only slightly improved from record lows, and firms are increasingly focusing on partner-level recruitment to sustain profitability. Traditional leaders like Cravath remain influential in finalizing bonus decisions, reinforcing long-standing industry customs.Big Law Hedges Associate Bonuses to Protect Partner ProfitsIndian billionaire Gautam Adani has been charged by U.S. prosecutors in a $265 million bribery scheme involving payments to Indian officials to secure power contracts and develop India's largest solar power project. The indictment, which includes securities fraud and conspiracy charges, also implicates Adani's nephew, Sagar Adani, and former Adani Green Energy CEO Vneet Jaain. The scheme allegedly defrauded American investors by concealing corruption in financial materials for bond offerings, including one that raised $750 million in 2021.The U.S. has issued arrest warrants for Gautam and Sagar Adani, intending to involve foreign authorities under an extradition treaty with India. Adani's conglomerate, already under scrutiny after a critical report by Hindenburg Research in 2023, saw its market value plunge by $20 billion following the indictment. Adani Green Energy canceled a $600 million bond sale, and shares of Adani-related firms dropped sharply.Indian regulators, including SEBI, have yet to comment on the U.S. charges, while opposition parties in India demand further investigations into the group. The Adani Group denies the allegations and plans to challenge the charges, but the scandal has intensified scrutiny over the company's operations and political connections.Indian tycoon Gautam Adani charged in US over $265 million bribery scheme | ReutersThe U.S. Department of Justice (DOJ) has proposed sweeping measures to address what it calls Google's illegal monopoly in online search and related advertising. Prosecutors argue that Google must divest its Chrome browser, share search data with competitors, and potentially sell its Android operating system to restore competition. The proposals aim to dismantle Google's dominant market position, as it processes 90% of U.S. searches.Other recommendations include banning Google from exclusive agreements with device makers like Apple, ending its preference for its search engine on Chrome and Android, and restricting acquisitions of search rivals or AI products. A five-member technical committee would oversee compliance for up to a decade, with powers to review documents, interview staff, and inspect software code.Chrome and Android are central to Google's business, as they collect user data crucial for targeted advertising. Prosecutors claim these platforms unfairly entrench Google's dominance by limiting rivals' market access. The DOJ also proposes mandatory licensing of search results to competitors at low cost and unrestricted data-sharing unless privacy laws prevent it. Google opposes the measures, calling them government overreach that would harm consumers and innovation. A trial is scheduled for April 2025, during which Google can present alternative proposals. These measures could reshape the digital landscape and are being closely watched by competitors like DuckDuckGo, which supports the DOJ's initiatives.Google must divest Chrome to restore competition in online search, DOJ says | ReutersThe U.S. Consumer Financial Protection Bureau (CFPB) has finalized a rule to regulate major technology firms like Apple Inc. that offer digital wallets and payment apps. Companies processing more than 50 million U.S.-dollar transactions annually will now face oversight similar to banks. This rule significantly raises the initial threshold of 5 million transactions proposed last year. It empowers the CFPB to supervise these firms regularly, not just when legal violations occur, as digital payments become increasingly essential to consumers.CFPB Director Rohit Chopra emphasized that digital payments are now a necessity, warranting heightened oversight. The shift comes as digital wallet usage in the U.S. surged to 62% in 2023, up from 47% the previous year, with Apple Pay maintaining dominance in the sector.The new regulatory environment follows global scrutiny of tech firms. Apple recently agreed with European regulators to open its near-field communication technology to competitors, a notable change in its approach. Other firms, like PayPal, are also cooperating with the CFPB on compliance questions regarding digital wallet features.The rule, set to take effect 30 days after its publication, introduces a significant shift in how large tech firms are governed. However, it remains an open question how these regulations will fare under the Trump administration, given the potential for policy shifts in the new political climate.Apple Pay, Other Tech Firms Come Under CFPB Regulatory Oversight This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

Associates at Big Law firms are accustomed to a tradition: Whenever one law firm raises associate salaries or doles out a bonus, other firms scramble to match. But this year, something strange happened: A Wall Street law firm, Milbank LLP, in August gave out a special bonus, and none of its law firm competitors followed suit. Bloomberg Law's Roy Strom spoke with his colleague Meghan Tribe about what might happen next for associates' bonuses on this episode of our podcast, On The Merits, and how law firms' revenue this year compares to 2021, the last time associates reaped a windfall from a boom in work. We also discuss whether associates across Big Law might still benefit from the special bonuses, which ranged from $6,000 to $25,000. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

Send us a textWe are experiencing a revolution in digital infrastructure. Artificial intelligence (AI) gets most of the attention, but the appetite for expanded capacity – and the magnet for new public and private investment – affects myriad digital technologies.  Broadband fiber, data centers, wireless spectrum networks, and advanced chip manufacturing are attracting billions of dollars in new funding.  In this episode, “The Digital Infrastructure Revolution: AI Drives Massive Investment in Data Centers and Connectivity,” host Allan Marks speaks with Milbank partners Patrick Campbell and Jaime Ramirez. They examine how the CHIPS and Science Act of 2022 and other federal programs together with the explosion of new artificial intelligence technology and the impacts of the pandemic are driving a massive wave of investment in fiber and data center projects. About the SpeakersPatrick S. Campbell is a partner in the Washington, DC office of Milbank LLP and a member of the firm's Transportation and Space Group. Mr. Campbell's practice focuses on transactional, corporate and regulatory matters in the digital infrastructure space. He has worked extensively on such matters on behalf of domestic and foreign fiber optic, wireless, data center, tower, satellite, computing service, media and Internet companies, as well as banks, private equity firms and other entities investing in, or providing securitization or other debt financing for, these companies.Jaime E. Ramirez is a partner in the New York office of Milbank and a member of the firm's Global Project, Energy and Infrastructure Finance Group. He focuses on representing parties in the acquisition, development and financing of large scale natural resource and infrastructure projects. His experience also includes the representation of investment banks and borrowers in cross-border financing transactions, particularly in Latin America.Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex energy and infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Many of his transactions relate to ESG and sustainability, innovative clean technologies, and sophisticated contractual risk allocation. Allan serves as an Adjunct Lecturer at the University of California, Berkeley at the LFor more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, iHeart, Google and Audible.Disclaimer

This episode of The Legally Speaking Podcast shines a spotlight on Venandah Madanhi, a lawyer and social entrepreneur at the forefront of legal innovation and youth empowerment. As an Associate in Milbank LLP's London office and a key figure in the European Leveraged Finance/Capital Markets Group, Venandah offers an insightful glimpse into the complex world of leveraged finance and capital markets, demystifying its role and impact.Beyond her legal practice, Venandah is the driving force behind Talk About, an organisation dedicated to bridging the gap between young people and professionals through impactful engagement, focusing on soft skills, personal development, and mental wellbeing. Her work has not only earned her a spot as the youngest individual on Birmingham's inaugural Top 30 Under 30 list but also a position among the UK's top outstanding black students and graduates.

This audio is brought to you by Wearcheck, your condition monitoring specialist. South African gold producer Aurous, which owns and operates the Blyvoor gold mine and the Gauta tailings retreatment project on Gauteng's West Rand, has announced plans to go public through a business combination with US-based Rigel Resource Acquisition Corp. The transaction, which puts Aurous at a pre-money equity value of some R6.76-billion ($362-million), is expected to enable Blyvoor to expand its underground infrastructure, enhance surface infrastructure, and optimise operations through economies of scale. "This transaction and associated influx of foreign investment into South Africa has the potential to enable further meaningful job creation, continued revitalisation of the local community and recapitalisation of Africa's precious metals industry, all of which we expect will be well-received by the relevant South African authorities," Aurous CEO Richard Floyd stated in a release to Mining Weekly. Aurous is described by Rigel CEO Jon Lamb as a cash-positive, debt-light target that already has impressive operational milestones under its belt. Making up Aurous are Blyvoor Gold Resources and Blyvoor Gold Operations and New York-listed Rigel is a special purpose acquisition company sponsored by a fund managed by Orion Resource Partners. The two companies have entered into a definitive business combination agreement that will result in Aurous becoming publicly traded. On completion of the proposed business combination, which is subject to customary closing conditions and regulatory approvals, the resulting company is expected to be named Aurous Resources and is to ultimately list on NASDAQ. Floyd and Aurous executive chairperson Alan Smith will continue to lead the business, the principal asset of which, the Blyvoor mine, is a long-life underground gold mine in the Witwatersrand region, west of Johannesburg. Since the restart of Blyvoor production in 2022, Aurous has been able to re-employ some 1 500 workers who had been unemployed following closure of the mine in 2013. "We've worked diligently over a few years to find a quality business to combine with and are pleased to have arrived at this merger agreement which is expected to deliver a value-accretive transaction to all stakeholders," Rigel president Nate Abebe noted. Rand Merchant Bank is acting as financial adviser to Aurous and Milbank LLP and ENS as legal counsel to Aurous.

What impact will the 2024 presidential election have on antitrust policy, federal merger approvals, and foreign investment in the United States? Uncertainty about future federal policy makes investment decisions this year especially challenging. In this episode, host Allan Marks speaks with Milbank partners  Adam Di Vincenzo  and  John Beahn  about antitrust and CFIUS policy under the administrations of President Biden and former President Trump, discovering both sharp differences and some surprising similarities. They discuss how to anticipate regulators' concerns and federal enforcement patterns in merger approvals amid political uncertainty in an election year. They analyze divergent trends in antitrust enforcement, highlighting tensions between economic goals that keep domestic markets competitive and national security goals that favor globally dominant US corporations with wide moats. And they explore how CFIUS, the FTC and DOJ are focusing on supply chains, domestic manufacturing, next-generation technology and AI, and the broader question of what it means to be competitive. About the SpeakersJohn Beahn is a partner in the Washington, DC office of Milbank LLP with a particular focus on matters related to the Committee on Foreign Investment in the United States (“CFIUS”) and foreign direct investment (“FDI”). He has extensive experience representing clients in national security reviews before CFIUS, the “Team Telecom” executive branch agencies and the Defense Counterintelligence and Security Agency. Adam Di Vincenzo is a partner in the Washington, DC office of Milbank and a member of the Litigation & Arbitration Group. He has served as lead antitrust counsel for Fortune 500 public companies, and private equity sponsors and their portfolio companies, in dozens of antitrust matters before enforcement authorities in the United States (including the DOJ and FTC) and internationally.Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex energy and infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Many of his transactions relate to ESG and sustainability, innovative clean technologies, and sophisticated contractual risk allocation. Allan serves as an Adjunct Lecturer at the University of California, Berkeley at the Law School and previously at the Haas School of Business.For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, iHeart, Google and Audible.Disclaimer

The push for cleaner energy has led to greater reliance on intermittent renewable energy resources, particularly solar and wind energy. To integrate these resources into a more efficient and reliable “smart grid” requires new investment in energy storage.  What are the best ways to provide resource adequacy and to bridge the gaps between when (and where) power is generated and when (and where) it is needed?  California is leading the way with massive new investments in innovative energy storage projects.  Developers and utilities are experimenting to optimize battery locations, improve project economics, reduce transmission constraints, and meet variable load requirements.  Regulators in California, Texas and elsewhere are taking divergent market design paths with an eye on reliability, efficiency, and affordability, especially as demand patterns and storage technologies evolve.In this episode, "Energy Storage at Utility Scale: California Goes All-in," host Allan Marks and four leading energy executives discuss the trajectory of California's energy storage market.  The discussion includes Emad Alaydi (a professional engineer and Senior Director at Calpine), Karin Burns (Chief Executive Officer of San Diego Community Power), Howard Chang (President and Chief Operating Officer of Ava Community Energy), and Cathleen Colbert (Senior Director, Western Markets Policy Regulatory Affairs for Vistra Corp.) and was recorded before a live audience in Los Angeles at Voltility's US Energy Storage Market Outlook 2024, hosted by Milbank LLP.Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex energy and infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Many of his transactions relate to ESG and sustainability, innovative clean technologies, and sophisticated contractual risk allocation. Allan serves as an Adjunct Lecturer at the University of California, Berkeley at the Law School and previously at the Haas School of Business.For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, iHeart, Google and Audible.Disclaimer

On this day in legal history, the “Trent Affair” occurred during the U.S. Civil War. The USS San Jacinto stopped the British mail ship Trent and arrested two Confederate envoys onboard–leading to a diplomatic crisis between the UK and the United States. On the 8th of November, 1861, a diplomatic incident with potential major ramifications for the U.S. unfolded as Captain Charles Wilkes of the U.S. Navy seized two Confederate diplomats from the British vessel, the Trent. This bold action by Wilkes was not sanctioned by the U.S. government and rapidly escalated into an international crisis, with Great Britain deeming the seizure a blatant infringement on its neutrality. The Confederacy had hoped that the envoys, James Mason and John Slidell, would secure recognition and support from Britain and France, but their capture threatened to pivot the two powers from neutrality to active opposition against the Union.The Trent Affair tested the diplomatic resolve of the Lincoln administration, which was simultaneously engaged in the Civil War. The British government's response was swift and stern, demanding the release of the envoys and an apology, while reinforcing its military presence near U.S. borders. The U.S. faced the predicament of managing foreign relations without provoking war with Britain. Through careful negotiation, the U.S. conceded to British demands, releasing the envoys and thus diffusing a situation that could have dramatically altered the course of the Civil War. Lincoln was reported to have quipped that he should like to fight “one war at a time.” The resolution of the Trent Affair highlighted the Union's commitment to maintaining international peace during its internal strife, while also confirming Britain's staunch defense of its declared neutrality.On Britain's side, the diplomatic crisis was occuring at the same time as a scandal in the royal family and before a terminally ill Prince Albert, consort to Queen Victoria. In the tense days leading up to Prince Albert's death, he played a pivotal role in steering the British response to the Trent Affair. His influence led to the critical offer to the United States: that an apology would suffice, coupled with the release of the detained Confederate envoys, to prevent hostilities. President Lincoln, aware of the perils of dual conflicts, agreed to these terms. As Britain mourned Prince Albert, Lincoln expressed his condolences to Queen Victoria, underscoring the amicable relations between the nations. This gesture of diplomacy and shared sorrow laid the groundwork for a reciprocal display of sympathy from Queen Victoria when she later reached out to Mary Lincoln upon President Lincoln's assassination, highlighting a personal bond formed amidst national crises.Milbank LLP has initiated the bonus season in the legal industry by increasing associate salaries by $10,000 and announcing annual bonuses. The salary range for associates at the firm now stands between $225,000 and $425,000, with bonuses reaching up to $115,000. The firm's chairman, Scott Edelman, attributes this to the firm's sustained high activity levels and anticipates this trend to continue. This move may influence other major law firms to adjust their salary structures to stay competitive. Despite a quieter transactions market, the legal industry is expected to maintain the current bonus scale. The announcement is part of a broader trend where law firms announce year-end bonuses towards the end of the year, often leading to a series of matching bonuses across firms.Milbank Raises Associate Salaries And Announces Year-End Bonuses! - Above the LawMilbank Raises Associate Salaries, Kicks Off Bonus SeasonCravath, Swaine & Moore has introduced a salaried partner tier, reflecting a shift among elite Wall Street law firms to adapt their compensation structures in the face of new market pressures. This move aims to retain key talent and maintain competitiveness, offering salaries to partners rather than shares in firm profits. The firm, known for its high-profile client work and traditional business model, has also relaxed its seniority-based pay system. These changes come as the firm expands, opening a Washington office and entering the UK legal market, all while ensuring that salaried partners still have the opportunity to become equity partners, according to Cravath's presiding partner, Faiza Saeed.Cravath Adds Salaried Partner Tier in Latest Wall Street Shift (1)Ivanka Trump is scheduled to testify in a civil fraud trial involving her father Donald Trump's business practices. This trial, initiated by New York Attorney General Letitia James, alleges that the Trump family business inflated asset values. Judge Arthur Engoron has found evidence of fraud and is contemplating penalties. Donald Trump, along with his sons Donald Jr. and Eric, have denied any wrongdoing, attributing inaccuracies in property valuations to errors irrelevant to financial institutions. Ivanka was not deeply involved in the Trump Organization's operations during Trump's presidency and was dismissed from the case by an appeals court. The lawsuit seeks substantial fines and business restrictions against the Trumps, amid other legal challenges the former president faces.Ivanka Trump to testify in father's New York civil fraud trial | ReutersWeWork is making its first appearance in U.S. bankruptcy court, seeking approval for a restructuring plan that would reduce its debt by $3 billion and decrease its real estate footprint. The office-sharing firm, supported by Softbank, filed for bankruptcy to manage over $4 billion in debt and high rent costs after a rapid expansion and a downturn in demand due to the pandemic. Despite renegotiating hundreds of leases, WeWork is looking to exit 69 more, including 41 in New York. U.S. bankruptcy law may give WeWork the leverage needed to reject these leases. The company, with $164 million in cash, is asking the court to allow the continuation of employee and critical vendor payments during the restructuring process.WeWork seeks permission to begin canceling leases in bankruptcy | ReutersAmazon's legal team, led by David Zapolsky, has sketched out their defense against the FTC's antitrust accusations in a private company meeting. Zapolsky called the company's actions "absolutely defensible behavior" and quoted Taylor Swift to underscore the company's stance against criticism. The FTC's lawsuit claims that Amazon has created an illegal monopoly by restricting sellers on its platform from offering lower prices on competing platforms. Amazon refutes these allegations, arguing that showcasing higher-priced products would undermine customer trust. The company, which has been under investigation for four years, may be forced to divest assets if the lawsuit succeeds. Zapolsky also addressed the FTC's criticism of Amazon's logistics services, emphasizing that their use is optional for sellers. He reassured employees that Amazon is familiar with such legal challenges and is prepared to defend its practices in court.Exclusive: Amazon.com previews FTC defense at companywide meeting -transcript | ReutersMy column this week is on the importance of the federal estate tax as a mechanism for combatting wealth inequality.The federal estate tax, designed to prevent wealth accumulation across generations, is exemplified by the case of George Steinbrenner, who passed away in 2010—a year when the estate tax was not in effect. Steinbrenner's estate benefited significantly, avoiding a tax that would have been imposed at a rate of 45% the previous year or 55% the following year. This absence of tax exemplifies how fortunes can be preserved and potentially grown through investment, influencing the wealth of future generations. The history of the estate tax in the United States dates back before the Revenue Act of 1916, which formally introduced variable rates based on estate value. These rates have changed over time, peaking at 77% during World War I to fund national efforts and declining thereafter, including a scheduled repeal in 2010.The impact of such a suspension is profound, with the Steinbrenner family's potential to grow their inheritance considerably through investments. For instance, if the tax savings were invested in an index fund or in a company like Apple Inc., the returns could have been substantial. The Tax Cuts and Jobs Act of 2017 further altered the estate tax landscape by doubling the exemption amounts, resulting in significant revenue loss for the government. This legislative change is temporary, however, set to expire in 2025. The Penn Wharton Budget Model suggests that without these cuts, the revenue generated could have been nine times greater, illustrating the substantial role of the estate tax in federal revenue generation.As wealth inequality continues to rise, the estate tax serves as a crucial tool in the pursuit of economic equity. Its effectiveness has waned over the decades due to increasing exemptions and decreasing rates. The upcoming expiration of the TCJA's provisions is an opportunity to reassess and restructure the estate tax to better align with its original intent. Reducing the exemption threshold and increasing rates could serve as a step toward mitigating wealth disparity, emphasizing the tax's role in promoting a more balanced economic landscape.Steinbrenner's Legacy Shows Importance of Federal Estate Tax Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe

Allan Marks, partner with Milbank LLP's Global Project, Energy and Infrastructure Finance Group, joins the podcast this week to discuss the recently awarded USD 7bn hydrogen hub program winners.Marks discusses how the selected applicants will apply for the funds, why the Department of Energy picked winners in both green hydrogen and other forms of hydrogen and what the applicants that weren't selected for an award can do to support their own projects in the growing hydrogen ecosystem.New Project Media (NPM) is a leading data, intelligence, and events company providing origination led coverage of the renewable energy market for the development, finance, advisory & corporate community. 

Fiona Schaeffer, a prominent antitrust lawyer, has taken on the big job of leading the ABA Antitrust Law Section in 2023-24. In this episode, co-hosts Alicia Downey and Anora Wang interview Fiona about her goals for the year and the initiatives she is leading to explore the relationship between antitrust and consumer protection law and sustainability, as well as the impact of artificial intelligence on the law and the legal profession. Listen to this episode to get to know Fiona and, as a bonus, meet Anne Catherine Faye, the first economist appointed to serve in the important role of Counsel to the Chair. With special guests: Fiona Schaeffer, Milbank LLP and Anne Catherine Faye, Analysis Group Related Links: Upcoming ABA Antitrust Law Section events  Hosted by: Alicia Downey, Downey Law LLC and Anora Wang, Arnold & Porter Kaye Scholer LLP

Religious Discrimination In a pro bono case Milbank represented All Muslim Association of America (AMAA), a non-profit that provides low-cost burial and funeral services to Muslims in the DMV area, against a county in Virginia that created an ordinance that specifically made it impossible for AMAA to put a cemetery on their property. Milbank prevailed, resulting in the county rolling back that provision and awarding the client a large settlement in damages. We spoke with Milbank LLP Special Counsel, Melanie Westover Yanez, for this special edition of the Pro Bono Happy Hour Podcast.

Bankruptcy law requires that professionals seeking to be paid from the estate to publicly disclose their connections to the case. In 1998, John Gellene, a former partner of the prestigious law firm now known as Milbank LLP, was found guilty for knowingly and fraudulently making false declarations under penalty of perjury. In connection with seeking to be retained as debtor's counsel in a bankruptcy case, Gellene failed to disclosure connections the firm had to creditors in the case. His motivation for not disclosing these connections is that if he had his firm would likely have been disqualified from representing the debtor. As a result of Gellene's actions, Gellene served prison time and Milbank had to disgorge $1.8 million in fees. In this episode, Judge Elizabeth Gunn and Judge Steven Rhodes will discuss the Gellene case, the bankruptcy laws requiring disclosures and more recent situations involving parties in bankruptcy cases failing to disclose connections.

Allan Marks of Millbank LLP joins the podcast this week to discuss the potential ramifications that Silicon Valley Bank's failure on March 10th will have on the project finance market.Later in the program, Marks discusses how project finance in general will be impacted by rising interest rates and also talks about the impact of foreign investors in the M&A market.Marks will be moderating the Capital Raising & Deployment panel at NPM's US Development & Financing Forum on March 21st at the Four Seasons Hotel in Houston. Blackstone, Lightsource bp, D.E. Shaw Renewable Investments (DESRI), Cantor Fitzgerald and Fundamental Renewables representatives will also be speaking on the panel. For more information or to register for the conference CLICK HERENew Project Media (NPM) is a leading data, intelligence, and events company providing origination led coverage of the renewable energy market for the development, finance, advisory & corporate community. 

In honor of Native American Heritage month in November, this episode features guest Tasha Fridia, attorney and National Director of Tribal Programs for the nonprofit Friends of the Children. Tasha joined us for a thoughtful conversation on Native American representation in law and how firms can help improve the pipeline for Native American legal talent. Mikeisha Anderson Jones, Chief Diversity, Equity and Inclusion Officer at Milbank LLP, joined us to offer added insight on the topic at the end of the episode.

What happens when a BigLaw firm brings its resources to bear on a wrongful conviction case? In Part 2 of this dramatic story, hear from a Milbank LLP partner and counsel about their successful pro bono advocacy for a wrongfully imprisoned client who was denied release even after his murder conviction was overturned. Related Links: National Registry of Exonerations profile of Mark Purnell https://www.law.umich.edu/special/exoneration/Pages/casedetail.aspx?caseid=6318 Press Release: Milbank Wins Dismissal of Murder Conviction, Freeing Innocent Man After Nearly 16 Years in Prison https://www.milbank.com/en/news/milbank-wins-dismissal-of-murder-conviction-freeing-innocent-man-after-nearly-16-years-in-prison.html Delaware Supreme Court: Purnell v. Delaware, 254 A.3d 1053 (Del. 2021) https://law.justia.com/cases/delaware/supreme-court/2021/113-2020.html Delaware Innocence Project  https://www.innocencede.org/ National Innocence Project  https://innocenceproject.org/about/   PLI is proud to offer programs, Pro Bono Memberships, and scholarships to support the essential public service work of the legal profession.

With the Inflation Reduction Act of 2022 likely to be voted upon by the House of Representatives on Friday, August 12th, Allan T. Marks, partner and member of Milbank's global project energy and infrastructure finance group joins the podcast this week to discuss the major impacts that the Act will have on the clean energy sector. The discussion includes which sectors will benefit the most and how leaving the ITC tax credit for transmission out of the Act will impact clean energy development. Later in the program, Marks also discusses how both deal flow and project finance will be impacted by the Act.New Project Media (NPM) is a leading data, intelligence and events company providing origination led coverage of the renewable energy market for the development, finance, advisory & corporate community.

How can law firms, corporations and other employers foster a culture of opportunity that encourages success for everyone? For diversity, equity and inclusion (DEI) initiatives to succeed, they must be grounded in authenticity, intentionality, respect and trust. In this episode, host Allan Marks speaks with Mikeisha Anderson Jones, Milbank's global Chief Diversity, Equity and Inclusion Officer, about uniting people, passion and purpose to create a cohesive workplace community that appreciates differences, reinforces common goals and values, and promotes professional growth.  About the Speakers:Mikeisha Anderson Jones is the global Chief Diversity, Equity and Inclusion (DEI) Officer of Milbank LLP. She leads the firm's global DEI strategy working closely with offices across the Americas, Europe and Asia on the unique challenges and opportunities in each region. She previously served as Vice President of Global Inclusion & Diversity at American Express, and is a frequent speaker on career development and inclusion. Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at the Law School and previously at the Haas School of Business.For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, Google and Audible. Disclaimer

Airlines in Asia have been slow to recover since the pandemic slammed the brakes on the fastest growth market for global aviation. In this episode, host Allan Marks speaks with Milbank Transportation and Space partner Paul Ng about the current state of Asia's aviation market, recent restructurings and prospects for future growth in air traffic.  They explore the shape of the recovery for airlines, passengers and air cargo, manufacturers and lessors of aircraft – and some reasons for optimism – despite uncertain demand, high fuel costs, tight labor markets and ongoing supply chain disruptions. Sit back, relax, and enjoy the flight.About the Speakers:Paul Ng is a partner in the Singapore office of Milbank LLP. He is a member of the global Transportation and Space Practice and leads the aviation and asset finance practice in Asia. He has led on many complex and first-in-the-industry asset-backed structured and receivables financings. He has an in-depth understanding of the financing and leasing of aviation and maritime assets, rolling stock and other moveable assets and extensive experience of financing of such assets, including tax-based, leveraged Islamic and export credit.Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at the Law School and previously at the Haas School of Business.For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, Google and Audible.Disclaimer

The guests for this episode are David Gindler, Partner, and Jasper Tran, Associate and Minnesota Law School class of ‘15, at Milbank LLP in Los Angeles, California. Messrs. Gindler and Tran join the pod for the Volume 106 special episode to discuss the convergence of COVID-19, vaccinations, IP Law, and their practices at Milbank. Get a transcript of this episode here https://z.umn.edu/ECep4-6Transcript Check out the Minnesota Law Review for more content  www.minnesotalawreview.org Follow Mr. Gindler  https://www.linkedin.com/in/david-gindler/ Follow Mr. Tran https://www.linkedin.com/in/jaspertran/ Follow the Minnesota Law Review on Twitter  twitter.com/MinnesotaLawRev Learn more about the University of Minnesota Law School by visiting law.umn.edu and following Minnesota Law on Twitter twitter.com/UofMNLawSchool

The Latest on CFIUS and FDI With John Beahn, A Partner With Milbank And Host Richard Levick of LEVICK: John Beahn, a partner in the Washington, DC office of Milbank LLP with a practice focusing on matters related to the Committee on Foreign Investment in the United States (“CFIUS”) and foreign direct investment (“FDI”) speaks with host Richard Levick of LEVICK about evolving national security issues, trends in enforcement, China, Russia and more.

Investors, borrowers and financial institutions are using Environmental, Social and Governance (ESG) principles and metrics to shape the ways they attract capital, screen investments, set terms in complex transactions, and meet evolving compliance and disclosure requirements. The trend to incorporate ESG and sustainability considerations into debt issuances seems likely only to grow. In Europe specifically, the Sustainable Finance Disclosure Regulation (SFDR) and the EU Taxonomy Regulation are designed to reorient capital towards a more sustainable economy and to prevent greenwashing while promoting accountability and transparency. In this episode, host  Allan Marks speaks with Milbank partners Alexandra Grant and  Ana Grbec from the firm's London-based European Leveraged Finance & Capital Markets group.  They discuss how ESG factors have evolved despite market volatility and uncertainty, the difference between green bonds and sustainability-linked debt instruments, and what to expect in capital markets, banking, acquisition finance, and institutional lending. About the Speakers Alexandra Grant is a European Leveraged Finance/Capital Markets partner in Milbank's London office. She has extensive experience of advising both lenders and sponsors/borrowers on a wide range of complex and cross-border leveraged acquisition, public to private, and infrastructure financings and restructurings, across the full spectrum of products. Ana Grbec is a Capital Markets partner in Milbank's London office of Milbank LLP. She advises on public and private capital markets and finance transactions with a focus on high-yield bonds and cross-border securities offerings across a broad range of sectors and jurisdictions.Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business. For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, Google and Audible. For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify,  Amazon Music, Google and Audible.Disclaimer

Tips and tricks for lawyers who are new to presenting expert witnesses at trial and reflections on the importance of eliciting effective expert testimony in antitrust cases. With special guest: Eric Hochstadt, Partner, Weil, Gotshal and Manges LLP Hosted by: Katherine Kelly Fell, Associate, Milbank LLP, Vice President of Trial Practice Committee of ABA Antitrust Section

In this episode, host Allan Marks sits down with former NSA General Counsel Glenn Gerstell for a regulatory overview and an insider's perspective on the current threat landscape for cyber risks – from state actors threatening critical infrastructure to hackers using ransomware, other malware or denial of service (DoS) and distributed denial of service (DDoS) attacks. Glenn also shares his thinking on how governments can better address cyber risks to agencies, private entities and along global supply chains, and the role of cryptocurrencies in ransomware attacks. About the Speakers:Glenn S. Gerstell served as the general counsel of the National Security Agency (NSA) and Central Security Service (CSS) from 2015 to 2020. He has written and spoken widely about the intersections of technology and national security and privacy. Prior to joining the NSA, Mr. Gerstell practiced law for almost 40 years at the international law firm of Milbank LLP, where he focused on the global telecommunications industry and served as the managing partner of the firm's Washington, DC, Singapore, and Hong Kong offices. Mr. Gerstell served on the President's National Infrastructure Advisory Council, which reports to the president and the secretary of homeland security on security threats to the nation's infrastructure, as well as on the District of Columbia Homeland Security Commission.  Earlier in his career, he was an adjunct law professor at the Georgetown University Law Center and New York Law School. He is a recipient of the National Intelligence Distinguished Service Medal, the Secretary of Defense Medal for Exceptional Civilian Service and the NSA Distinguished Civilian Service Medal.Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.Listen to Cybersecurity Part 2 here.Disclaimer

Allan Marks, a partner in Milbank's Global Projects, Energy & Infrastructure Finance group joins NPM managing editor Jon Berke to discuss a variety of topics including the project finance outlook in 2022, forecasting the M&A market in 2022 following a robust 2021 for trades of renewable developers and how federal infrastructure act passed in November 2021 will impact the electric vehicle market.Separately, on April 5th 2022, Marks will also be moderating the energy transition panel at NPM's US Developer & Financing Forum in Houston. The panel includes Marjorie Hong, Shell Renewable Generation's Head of Onshore Renewable Power Development, Apex Clean Energy's VP of Finance Omar Karar, Blackstone Infrastructure's Senior MD Matthew Runkle, EnCap Investments Energy Transition's Managing Partner Jim Hughes, and Bill Caesar's President of Generate Capital's waste-to-value platform.For more information on the event CLICK HERENew Project Media (NPM) is an actionable data & proprietary intelligence platform dedicated to coverage of the North American renewable energy market. NPM helps leading developers, capital providers, investors, advisors, utilities and corporate subscribers enhance their deal flow, peer tracking, market research, and origination efforts by leveraging its content to inform business decisions.www.newprojectmedia.com

On this week's episode of Fire of Genius, Chris and Zach sat down with David Gindler and Jasper Tran of Milbank LLP to discuss some current issues in patent law and what their practices are like at Milbank. A transcript of this episode will be available on our website https://iptheory.indiana.edu/.

Working remotely creates challenges to the creativity, cohesiveness and culture of any professional firm. How do you get to know each other and foster community when you're stuck on video calls all day and you've lost the spontaneity of seeing people in the office? For some of the lawyers in Milbank's Los Angeles office, the answer was to form a book club. In this episode, host Allan Marks sits down with partner Henry T. Scott and junior associates Nickta Hoss and Lucy Stanley to talk about the book club they founded and how they picked their summer reading list – Martín & Meditations on the South Valley by Jimmy Santiago Baca, The Bomber Mafia by Malcolm Gladwell, Interior Chinatown by Charles Yu, and Klara and the Sun by Kazuo Ishiguro – and the surprising and candid conversations these books sparked about inclusivity, empathy, mentoring, and overcoming imposter syndrome. About the SpeakersHenry T. Scott is a partner in the Los Angeles office of Milbank and a member of the firm's Project, Energy and Infrastructure Finance Group. Read MoreNickta Hoss is an associate in the Los Angeles office of Milbank LLP and a member of the firm's Global Project, Energy and Infrastructure Finance Group. Lucy Stanley is an associate in the Los Angeles office of Milbank LLP and a member of the firm's Global Project, Energy and Infrastructure Finance Group.Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.For more information and insights, visit Milbank.com and

Guests for this episode of “Trust Me!” are Tom Shaver and Neil Wertlieb. Tom served as Editor to the Fourth Edition of the Guide to The California Rules of Professional Conduct for Estate Planning, Trust and Probate Counsel. Tom discusses the process of reviewing and updating the fourth edition of the Guide. He also explains the effort to make this edition even more of a practice guide with  expanded sample discussions and new chapters on litigation and technology. For more information about the Guide, including how to purchase your own copy go to:https://calawyers.org/trusts-and-estates/the-trusts-and-estates-ethics-guide-is-here/?utm_source=podcast&utm_medium=link&utm_campaign=teCo-Chair of the California Lawyers Association's Ethics Committee Neil Wertlieb joins the podcast to tell us about the work of the Ethics Committee as well as ethical issues relevant to trusts and estates attorneys. We talk about conflicts—who is and who isn't a client, conflicts when the fiduciary is also a beneficiary, and current and advance client conflict waivers. Finally, we consider ethical issues relevant during a pandemic.Thomas Shaver was an attorney with Hartog Baer & Hand in Orinda for over seventeen years, with a practice focused on estate planning, post-death administrations, and related estate and gift taxation. He served for six years as a member of the Executive Committee of the Trusts and Estates Section.  In his final two years of that term he chaired the Ethics Subcommittee that coordinated the research, updating and revision of the Ethics Guide for trusts and estates practitioners that the Section published at the end of last year.  Neil J. Wertlieb brings more than three decades of experience as a corporate transactional lawyer, including two decades as a partner at Milbank LLP.   Mr. Wertlieb's areas of expertise include: corporate governance and business transactions (including acquisitions, securities offerings and restructurings); and attorney ethics and attorney standard of care.  He served as an ethicist as a Founding Member and Co-Chair of the California Lawyers Association Ethics Committee, a past Chair of  California State Bar's Committee on Professional Responsibility and Conduct, past Chair of  Los Angeles County Bar Association's Professional Responsibility and Ethics Committee and as Special Deputy Trial Counsel for California State Bar's Office of Chief Trial Counsel. For additional information, please visit www.WertliebLaw.com. Host Herb Stroh is a partner at McCormick Barstow LLP, and practices out of the San Luis Obispo office. Herb is a Certified Specialist in Estate Planning, Trust, and Probate by the State Bar of California Board of Legal Specialization. He is past chair of the Trusts and Estates Section of the California Lawyers Association and represents the Section on the CLA Board of Representatives. He is also Treasurer of CLA for the 2020-2021 year.  Herb has extensive experience in all aspects of trust, probate, conservatorship, and guardianship conflict resolution.  He also has experience in all aspects of estate planning and administration of trusts, probate estates, special needs trusts, and conservatorships. Mr. Stroh has also served as a mediator in a variety of trust and estate disputes both in Los Angeles and San Luis Obispo counties. 

ESG Series #4: Two proxy advisory firms wield vast power over America's public companies, with little accountability or transparency.  Institutional investors who control an estimated 80% of the market capital of U.S.-publicly listed companies often rely on these advisors in setting stewardship policies and in voting for or against company directors or on corporate governance matters, including ESG policies, executive compensation and investment rules. In this episode of Law, Policy & Markets, Milbank Global Project Energy & Infrastructure Finance partner Allan Marks and Global Corporate partner Neil Whoriskey discuss how proxy advisors rose to such influence, and how the interests of fund managers, the SEC and other stakeholders are bumping up against directors' fiduciary duties and conflicting state corporate law doctrines.  Neil Q. Whoriskey is a partner in the New York office of Milbank LLP and a member of the firm's Global Corporate Group. His practice focuses primarily on mergers, acquisitions, and corporate governance matters. Recognized in Banking and Mergers and Acquisitions by IFLR 1000, he is the author of numerous articles on mergers and acquisitions and corporate governance topics.Podcast host Allan Marks is one of the world's leading project finance and corporate lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business. More details at Milbank.com. For more information and insights, visit Milbank.com and follow us on social media and podcast platforms, including Apple, Audible, Google and Spotify.Disclaimer

Like a fine musician performing a complex work before a discerning audience, practicing law at an elite level can be as much art as science. Today, we take a breather from complex business issues in this bonus episode of Law, Policy & Markets featuring Milbank Global Project, Energy & Infrastructure Finance partner Allan Marks and Litigation & Arbitration partner Alex Romain, who compare notes on how their years of classical piano training and passion for playing music inform their approaches to practicing law. They explore how coaching, creativity and collaboration translate into discipline, depth and distinction and how crafting a musical performance is similar to structuring and presenting a cogent legal argument that leads to persuasive communication, authentic personal relationships and positive action. We hope you enjoy our final episode of the year. See you in 2021!Alex Romain is a partner in the Los Angeles office of Milbank LLP and a member of the firm's Litigation and Arbitration Group. Mr. Romain is a leading national trial lawyer with more than 20 years of experience representing individuals and corporations in high-stakes complex commercial litigation, white collar defense, and internal investigations. Mr. Romain's relentless advocacy has led to exemplary results for his clients. He was a member of the trial team that exonerated the late Sen. Ted Stevens, playing a key role in pursuing the exculpatory evidence that ultimately led to the senator's exoneration. The American Lawyer described his team's work on the case as “one of the best criminal defense performances in memory, resulting in a heightened scrutiny of prosecutors that will affect the Justice Department for years to come.” Mr. Romain successfully represented the Baltimore Ravens and several of its senior personnel in connection with the independent investigation conducted by former FBI Director Robert Mueller into the National Football League's handling of the Ray Rice domestic violence incident. Read MorePodcast host Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.Disclaimer

ESG Series #2: Executive compensation is a hot-button issue, correlated both to tremendous growth in financial wealth and to rising inequality. In this episode of Law, Policy & Markets, Milbank Global Project Energy & Infrastructure Finance partner Allan Marks and Executive Compensation and Employee Benefits partner Mike Shah discuss current trends in executive compensation, including:How corporate boards address competing pressures when structuring new pay packagesImpact of market volatility on incentive compensation and performance metricsKeys to designing and implementing executive pay packages aligned with a company's long-term performance ESG considerations, diversity and inclusion, and other goals that matterAttracting, retaining and incentivizing top executives to deliver both value and growthEmotional aspects of contract negotiationsAbout the speakers:Mike Shah's practice focuses on all facets of executive compensation matters. He regularly advises compensation committees and boards of directors on corporate governance and executive compensation matters. In particular, Mr. Shah has extensive experience advising public and private companies on executive compensation and employee benefits issues across a broad range of corporate transactions, including mergers and acquisitions, corporate restructurings and bankruptcies, friendly and hostile tender offers, divestures, and public offerings. Podcast host Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business. More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

How do you pay for planes and cover billions in debt when people stop flying and airlines are going broke? The global pandemic and economic slowdown have radically altered the financial landscape for airlines, aircraft manufacturers and leasing companies around the world. Our story today is about how Nordic Aviation Capital (NAC) – a leading aircraft lessor worth over $8 billion – navigated the sudden collapse in air traffic in 2020 with help from its creditors and an Irish court. Milbank Global Project, Energy & Infrastructure Finance partner Allan Marks, widely experienced in airport development and finance, sat down with partner and co-head of the firm's London Transportation and Space Group James Cameron and London Financial Restructuring Group partner Karen McMaster, who represented the secured creditors in the NAC restructuring. They discuss how the creditor negotiations unfolded and the legal and commercial issues that led to an innovative Scheme of Arrangement under Irish Law affecting parties in the UK, the European Union, the US, Asia and elsewhere. The issues in this complicated case have broader implications for cross-border restructurings, aircraft finance, and the interplay between domestic and international law, including companies law, insolvency law, treaties for the enforcement of foreign judgments, and the Cape Town Convention. Buckle up, and mind that contents may have shifted in flight.James Cameron is a top-ranked practitioner with extensive experience acting on a variety of asset leasing and financing transactions involving aircraft, ships, oil rigs, rolling stock and other movable equipment. Read MoreAs a partner in the firm's Financial Restructuring Group, Karen McMaster assists buy side and distressed investors structure, negotiate and implement investments in distressed, stressed or special situation credits. Read MoreMilbank Conversations host Allan Marks is a Milbank partner and one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors and lenders around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks serves as an Adjunct Lecturer at the University of California, Berkeley at the Law School and the Haas School of Business. Read MoreMore details at Milbank.com. The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

How are companies, financial institutions and governments confronting increasingly sophisticated threats of fraud and other financial crimes? Milbank partner Allan Marks and Litigation & Arbitration partners Mona Vaswani and Adam Fee delve into a range of timely and substantive topics:Financial and accounting fraud, embezzlement, market manipulation, bank and wire fraud, money laundering, sanctions stripping, bribery, corruption, insider trading, intellectual property theft, cyber hacks, social media and e-commerce data breaches Psychology of victims and fraudstersCriminal vs. civil remediesMulti-jurisdictional and international legal issues, asset-tracing investigations, offshore trusts and asset freezesDomestic and foreign law enforcementInsurance for cybersecurity and financial fraud About the speakers:Mona Vaswani is a partner in the London office of Milbank and a member of the firm's Litigation & Arbitration Group. She advises on complex, cross-border disputes and investigations, with an emphasis on banking litigation, fraud and asset tracing claims as well as trust litigation. She has acted for leading international and investment banks on a range of large, high-stakes and complex banking and regulatory disputes and investigations. She also has substantial experience advising banks and trustees and offshore trustees in the conduct of trust litigation in several jurisdictions.Adam Fee is a partner at Milbank and a member of the firm's Litigation & Arbitration Group. Adam advises companies, individuals and boards facing government investigations and conducting sensitive internal investigations.  A former federal prosecutor, he has deep experience in a variety of white-collar and regulatory enforcement matters, including corruption, corporate espionage, securities and accounting fraud, and data protection and cyber security. During his time with the United States Attorney's Office for the Southern District of New York, he led many of the government's highest profile prosecutions in these areas.Host Allan Marks, a partner at Milbank and one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business. More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

ESG Series #1: There are two perspectives from which to examine cybersecurity. Big picture: Are we safe as a nation? Up close: What should my company or institution be doing now to manage cyber risks? In this special, extended episode, Allan Marks joins Former NSA General Counsel Glenn Gerstell and Milbank partner Dara Panahy to explore in depth the needed tools and current trends in cybersecurity, national security, governance and technology. Can we become more resilient while becoming ever more interconnected? About the Speakers:Glenn S. Gerstell served as the general counsel of the National Security Agency (NSA) and Central Security Service (CSS) from 2015 to 2020. He has written and spoken widely about the intersections of technology and national security and privacy. Prior to joining the NSA, Mr. Gerstell practiced law for almost 40 years at the international law firm of Milbank LLP, where he focused on the global telecommunications industry and served as the managing partner of the firm's Washington, DC, Singapore, and Hong Kong offices. Mr. Gerstell served on the President's National Infrastructure Advisory Council, which reports to the president and the secretary of homeland security on security threats to the nation's infrastructure, as well as on the District of Columbia Homeland Security Commission.  Earlier in his career, he was an adjunct law professor at the Georgetown University Law Center and New York Law School. He is a recipient of the National Intelligence Distinguished Service Medal, the Secretary of Defense Medal for Exceptional Civilian Service and the NSA Distinguished Civilian Service Medal.As leader of Milbank's Transportation and Space Group in Washington, DC and head of the firm's Global Risk & National Security practice, Dara Panahy represents satellite operators, aerospace manufacturers, launch services providers, communications companies, banks, private equity firms and hedge funds in debt and equity offerings, project, structured and vendor financings, mergers & acquisitions, financial restructurings and in negotiating commercial contracts.  He also advises on regulatory, sanctions, anti-corruption, national security and export control matters.Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. He has provided strategic guidance to corporate boards and senior executives with respect to risk management and cybersecurity compliance in the energy and digital infrastructure areas. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business. More details at Milbank.com.   The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, pleas

How are governments and financial markets in Latin America responding to the global pandemic and recession? Milbank partner Allan Marks discusses cross-border investment, asset valuations, and legal initiatives across Latin America with Milbank Capital Markets partners Fabiana Sakai in São Paulo and Carlos T. Albarracín in New York. As economies struggle in Brazil, Argentina, Mexico, Colombia and throughout the region, the economic effects may be similar but politics vary markedly. Discover how LatAm markets are coping with the challenges of liquidity, widening inequality, falling commodity prices and interest rates, and currency volatility, and what it all means for debt and equity investors, restructuring opportunities, and public and private sources of new capital.About the speakers: Fabiana Sakai, a partner in the São Paulo office of Milbank and a member of the firm's Capital Markets Group, has over seven years of experience in Brazil. Her focus is on New York law-based consulting to Brazilian and US companies and financial institutions in the areas of capital markets, M&A and financing.Carlos T. Albarracín, a partner in the New York office of Milbank and a member of the firm's Capital Markets Group, has extensive experience on cross-border capital raising and financing transactions throughout Latin America, with a focus on the energy and infrastructure sectors.Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

In this episode of Law, Policy & Markets: Milbank Conversations, Milbank partners Allan Marks and Erwin Dweck survey economic trends and financing opportunities for distressed real estate in different asset classes. Then, they take a deeper dive into current pricing, valuations and structuring implications for commercial real estate finance. Find out what it all may mean over the next 12 months for the CMBS market, which saw almost $100 billion in new issuances last year alone.About the Speakers:Erwin Dweck has experience in all areas of the real estate industry with an emphasis on representing investors in complex domestic and international commercial real estate acquisitions, developments, dispositions, joint ventures, financing, intercreditor issues and mezzanine loan foreclosures. His practice has focused on representing investors in secondary market transactions, restructurings and workouts of complex equity and debt structures. Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

Featuring Milbank partners Allan Marks and Fiona Schaeffer, this episode of Law, Policy & Markets: Milbank Conversations explores how the legal landscape of antitrust work is shifting and whether the pandemic-induced economic crisis impedes or encourages long term enforcement trends.About the speakers:Fiona Schaeffer represents clients in the defense of “bet-the-company” criminal and civil cases as well as their most complex transactions. She counsels clients in a variety of industries, with a particular depth of experience in healthcare, financial services, energy, media and communications. Ms. Schaeffer is the Committee Officer of the American Bar Association's Section of Antitrust Law, former Chair of the Antitrust & Trade Regulation Committee of the New York City Bar Association and member of the Executive Committee of the New York State Bar Association Antitrust Section.Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

Featuring Milbank partners Allan Marks and Apostolos Gkoutzinis, this episode of Law, Policy & Markets: Milbank Conversations explores the pandemic's impact on global capital markets, the efficacy of government responses, and some longer term implications of these changes.About the speakers:Focusing on US securities laws and international debt and equity offerings, Apostolos Gkoutzinis covers an exceptionally broad practice across international corporate, capital markets and finance transactions. His experience includes advising on IPOs, international rights offerings and other equity offerings, high-yield and investment-grade bond offerings and private placements, large acquisition financings, tender offers and other liability management exercises, M&A transactions, NPL portfolio sales, restructurings, recapitalizations and privatizations. In addition to advising on a spectrum of headline transactions globally, he is one of the most prominent international lawyers in relation to Greece.Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

Featuring Milbank partners Allan Marks and Drew Fine, one of the world's leading aircraft finance lawyers, this episode of Law, Policy & Markets: Milbank Conversations explores the future of the global aviation industry. How will airlines both keep passengers safe and make them feel safe? The financial implications for the airlines, airports, lessors, and manufacturers are complex and wide ranging.       About the speakers:Drew Fine has extensive experience in a wide variety of international financial and corporate transactions, including public offerings and private placement of securities (equipment notes, enhanced equipment trust certificates (EETCs), ABS), acquisitions, leveraged leasing, secured and unsecured lending, cross-border financings, structured financings, workouts and credit enhancements. He has particular expertise in financings and corporate transactions involving aircraft, rolling stock and vessels. Mr. Fine has worked on several of the most significant ABS and financings involving aircraft and railcars, including many transactions that have won “Deal of the Year” awards from industry publications. He has also participated in the evolution of the EETC over the years, including working on the first pre-funded EETC. Another area of specialization for Mr. Fine is representing clients in connection with the acquisition or disposition of leasing companies and large portfolios of aircraft and rolling stock.Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

Featuring Milbank partners Allan Marks and Jacqueline Chan, this episode of Law, Policy & Markets: Milbank Conversations explores Asia's reopening and the pandemic's effects on regional financial markets, on the leading edge of what the rest of the world might experience in turn.About the speakers:Jacqueline Chan is a partner in Milbank's Singapore office, previously based in Hong Kong. She advises on a wide range of international corporate finance transactions and M&A deals, and regularly represents sponsors, borrowers and lenders on complex cross-border acquisition finance transactions. In addition, she has significant experience with international debt restructurings in Asia. Ms. Chan specializes in structuring complex debt and equity transactions for clients both within and outside of Southeast Asia, and regularly advises many of the largest private equity funds, sovereign wealth funds, corporates, leading banks and financial institutions in their various transactions globally and in particular throughout Asia.Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

Featuring Milbank partner Allan Marks and Pro Bono Counsel Anthony Perez Cassino, this episode of Law, Policy & Markets: Milbank Conversations explores how COVID-19 impacts the firm's pro bono clients and is altering the ways in which legal aid organizations operate and support their clients. Mr. Cassino also discusses how Milbank attorneys are adapting to provide pro bono service remotely during the pandemic both in the United States and worldwide.About the speakers:Anthony Perez Cassino heads Milbank's Pro Bono practice. Active in pro bono for over two decades, he oversees the firm's extensive efforts, connecting partners and others with a range of organizations and individuals in need, and is a recognized leader in the legal industry's pro bono community. One of the few firms to require all attorneys to contribute a minimum of 25 pro bono hours a year, Milbank has an exceptionally active and engaged practice, contributing over 62,000 hours globally in 2019.Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.

Featuring Milbank partners Allan Marks and John Williams, this episode of Law, Policy & Markets: Milbank Conversations explores how financial markets are dealing with risk and uncertainty caused by the pandemic and assesses how the Federal Reserve's liquidity measures are stabilizing credit markets.About the speakers:Based in Milbank's New York office, John Williams leads the Derivatives practice at Milbank globally and is a member of the firm's Alternative Investment Practice. He specializes in cleared derivatives, credit derivatives, and Dodd-Frank Title VII regulation. Mr. Williams is noted as a leading attorney in credit derivatives, having drafted the ISDA auction settlement terms and led the engagement to establish the ISDA Credit Derivatives Determinations Committees in 2009. Since then, he has advised CDS market participants on both the buy and sell side on a range of major CDS market events, including Thomas Cook, Windstream, Sears, Neiman Marcus, Toys R Us, Astaldi, Caesars, and others.Allan Marks is one of the world's leading project finance lawyers, with special expertise in the power and renewable energy, transportation and airports, oil and gas, water, and telecommunications sectors. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.More details at Milbank.com.The content provided by and through Milbank Conversations is subject to revision, interpretation, or even nullification after the date of recording. Milbank LLP shall not be liable for any loss that may arise from any reliance on Milbank Conversations or its component parts. All such content should not be construed as legal advice, and readers and listeners should not act upon the information without consulting counsel. Milbank Conversations should not be copied, distributed, published or reproduced, in whole or in part. If you have any comments or questions, please contact knowledgecenter@milbank.com.