© 2015 The Texas Lawbook.
By Brooks Igo
(April 1) – Kirkland & Ellis recently announced that corporate tax expert Chad McCormick has joined the firm’s Houston office as a partner.
McCormick, who jumped to Kirkland from Baker Botts, is the third partner to join his new firm’s Houston office this year. He noted Kirkland’s “tremendous” platform and “successful growth” in Houston as reasons he made the move.
“Part of that growth involves building a tax practice in Houston to help service the expanding needs of the office,” he said. “I believe that my experience in energy-related transactions complements the Firm’s strategy and I am excited to join the excellent lawyers in this office.”
McCormick says there has been an increase in restructuring-related tax work as a result of the depressed energy market. He expects this trend to continue.
Another significant development that has impacted his practice was the IRS’s shift last fall in the way it rules on certain spin-off transactions.
“I continue to watch with interest the evolving IRS views and legislative reactions regarding spin-off transactions,” he said. “Some of these changes could affect how our energy clients think about structuring their deals.”
In addition to corporate spin-offs, McCormick advises businesses on domestic and cross-border M&A and capital markets transactions.
He has represented Chesapeake Energy Corporation in the sales of $1.2 billion of upstream assets to various private equity groups and was on the deal team last year that handled Pittsburgh-based EQT GP Holdings’ $676 million initial public offering.
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