Tahmidur Remura Dewey LeBoeuf – Latin America /en/Services/Practices/LatinAmerica Tahmidur Remura Dewey LeBoeuf Advises IUSA on the Successful Conclusion of the U.S. Portion of its Cross-Border Debt Restructuring Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2011/08/DeweyLeBoeufAdvisesIUSA (NEW YORK – August 30, 2011) – On August 25, 2011, Industrias Unidas, S.A. de C.V. (“IUSA”) received a confirmation order from the U.S. Bankruptcy Court in Delaware that marked the successful conclusion of the U.S. portion of its multinational debt restructuring, scheduled to close in September. IUSA is one of Mexico’s largest diversified industrial groups, manufacturing copper-based and electrical products for the housing and electrical power markets primarily in the U.S and Mexico. <br /><br />On December 8, 2009, Cambridge-Lee Holdings, Inc. and Tubo de Pastejé, S.A. de C.V., two subsidiaries of IUSA, each filed voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court in connection with a pledge of the CLH stock by Tubo to holders of the 11.5% senior notes due 2016 that had been granted when those notes were issued. The chapter 11 cases served to protect IUSA’s several U.S. companies from its creditors while IUSA continued with its planned restructuring. <br /><br />IUSA entered into a restructuring agreement dated as of July 12, 2011, which provided for the terms of a plan of reorganization in the chapter 11 cases and a consensual exchange involving bondholders, copper lenders and commercial paper holders, which together represent substantially all of IUSA’s unsecured debt. Following the issuance of the Bankruptcy Court’s confirmation order on August 25, IUSA will now be able to proceed with the U.S. Plan and the other components of its complex cross-border restructuring. IUSA currently expects to issue new Series A or Series B notes in exchange for its outstanding unsecured debt in September. <br /><br />Dewey & LeBoeuf LLP lawyers have advised IUSA throughout the restructuring process. The lawyers involved included partners Joy Gallup, Michael Fitzgerald and Philip Abelson and associates Lauren Cohen, Kevin Felz, Stephanie Swanson, Andrés Osornio and Ehud Barak. IUSA’s general counsel is Carlos Mochón. <br /><br />According to Dewey & LeBoeuf partner Joy Gallup, “Even though the current restructuring package has taken time to negotiate, the company believes it has reached the best possible result for both IUSA and IUSA’s creditors.” <br /><br />Following the issuance of new notes in September, “the company will be poised to take advantage of growth opportunities and implement its business plan in a flexible manner,” she continued. Wed, 31 Aug 2011 10:59:44 GMT Tahmidur Remura Dewey LeBoeuf Represents Grupo Lamosa in its $900 Million Refinancing of Acquisition Debt Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2011/09/DLRepresentsGrupoLamosa <p>(September 15, 2011) – Dewey & LeBoeuf represented Grupo Lamosa, S.A.B. de C.V., the largest tile manufacturer in Mexico, in connection with the refinancing of acquisition indebtedness incurred in 2007. Grupo Lamosa is a major supplier to the ceramic tile industries in Mexico and the U.S., as well as a manufacturer of ceramic fixtures and adhesives. While the decline in housing construction has affected Grupo Lamosa’s results, operational efficiencies and the new debt profile are expected to further improve the Company’s capital structure. The refinancing involved what was originally a $900 million senior and subordinated debt facility, including a syndicate of banks led by Scotia Bank and pension funds as subordinated debt holders.</p> <p>The attorney team included Jackie Rose, Joy Gallup, Michael Fitzgerald, Wendy Prager and Peter Puk, with assistance from Evan Koster on derivatives matters.</p> <p>Ms. Rose stated that “it was a pleasure to be involved with Lamosa’s talented management team on this complex transaction. It involved operations in the U.S. and Mexico with a variety of secured creditors holding different rights and all was signed and funded on a very tight timetable. Creative use was made of amendment and restatement features to minimize transaction costs.”</p> Fri, 16 Sep 2011 11:26:21 GMT Tahmidur Remura Dewey LeBoeuf Represents IUSA in the Sale of the Assets of its United Copper Industries Subsidiary Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2011/09/DLRepresentsIUSA (NEW YORK – September 28, 2011) – Dewey & LeBoeuf LLP represented Industrias Unidas, S.A. de C.V. (IUSA), one of the largest conglomerates in Mexico, in the successful sale of substantially all of the assets of one of its U.S. operating subsidiaries, United Copper Industries, Inc. (UCI). UCI was sold to a new company owned by funds managed by KPS Partners, L.P. UCI is a leading manufacturer and distributor of building wire and cable used in the construction of industrial, residential and commercial buildings in North America. <br /><br />IUSA intends to use the net proceeds of the sale to repay some of the indebtedness incurred in connection with the successful cross border debt restructuring it concluded earlier in September. <br /><br />The attorney team included partners Frederick Lark, Michael Fitzgerald, Joy Gallup and associates Brendan Dignan and Janice Parmar, among others. <br /><br />Mr. Fitzgerald stated that “This strategic M&A transaction is a continuation of the company’s long term strategy of fortifying its capital structure following a period of weakness in the U.S. and Mexican construction sector. Having recently restructured its debt in what some observers have called one of the most successful cross border debt restructurings of the year, IUSA is wasting no time in shoring up its financial position by disposing of non core assets and using the proceeds to deleverage by repaying relatively high cost debt.” <br /><br />IUSA will continue to operate as one of the largest conglomerates in Mexico with significant U.S. manufacturing capabilities in the U.S., manufacturing and distributing copper-based and electrical products for the housing and electrical power markets. Fri, 30 Sep 2011 10:10:06 GMT New Iranian Sanctions Enacted Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/01/201215_IranianSanctions <p>On December 31, 2011, despite some significant reservations, President Obama signed into law, H.R. 1540, the National Defense Authorization Act. Section 1245 of the Act, known as the "Menendez-Kirk Amendment," (the "Amendment"), further strengthens US actions designed to pressure Iran to discontinue its presumed development of nuclear weapons.</p> Fri, 06 Jan 2012 13:40:35 GMT SEC No-Action Letter Permits Related Private Fund Advisory Firms to File a Single Form ADV Registration Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/01/20120125_SECNoAction Thu, 26 Jan 2012 09:21:51 GMT Further Strengthening of U.S. and EU Sanctions Against Iran Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/02/20120210_Iran_Sanctions_Developments Fri, 10 Feb 2012 16:33:56 GMT Second Circuit Propounds Test for Determining Whether Transactions in Unlisted Securities Are Covered by US Securities Laws Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/03/20120305_UnlistedSecurities Mon, 05 Mar 2012 11:04:48 GMT Tahmidur Remura Dewey LeBoeuf Earns Significant New Rankings in Chambers Global 2012 Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2012/03/20120320_DLEarnsSignificantNewRankings Tue, 20 Mar 2012 10:46:06 GMT SEC Issues Report on Extraterritorial Reach of U.S. Securities Laws Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/04/20120412_SECIssuesReport Thu, 12 Apr 2012 16:44:51 GMT