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CS handles spinoff of Pro­gress­ive Chem­ic­al Tech­no­lo­gies

January 29, 2010

Ca­mara & Sib­ley ac­ted as coun­sel in the spinoff of a chem­ic­al busi­ness in Port Ar­thur to a new en­tity, Pro­gress­ive Chem­ic­al Tech­no­lo­gies, and as of­fer­or's coun­sel in the private of­fer­ing to cap­it­al­ize the spinoff.

We also handled the trans­fer of sev­er­al con­tracts with na­tion­al en­ergy com­pan­ies in the Middle East to the new en­tity and provided en­vir­on­ment­al com­pli­ance and reg­u­lat­ory ad­vice.

The deal was com­pleted on an ex­ped­ited one-and-a-half month basis and in­volved un­usu­ally com­plex suc­cessor-li­ab­il­ity and in­ter­na­tion­al-com­mer­cial-law is­sues.

This is the latest in a series of en­gage­ments of our cor­por­ate group in which the cli­ent chose us be­cause the trans­ac­tion in­volved sub­stan­tial lit­ig­a­tion risk. One unique fea­ture of our as­so­ci­ate pro­gram is that all as­so­ci­ates, even those who ul­ti­mately fo­cus on trans­ac­tion­al work, go through our first-year tri­al ro­ta­tion and gain real tri­al ex­per­i­ence in ma­jor com­mer­cial cases. Like­wise, every cor­por­ate part­ner at the firm con­tin­ues to ap­pear in court.

Mike Wilson was lead coun­sel.