European High Yield Association Appointments for Two White & Case Partners

London, November 13, 2007 ... The European High Yield Association (EHYA), an affiliate of the Securities Industry and Financial Markets, has elected two White & Case partners into two separate EHYA leadership positions. Rachel Hatfield (who is co-chair of the Legal and Regulatory Committee) has been appointed the new vice-chair of the EHYA's Board of Directors. Dan Hamilton has been appointed as co-chair of the EHYA's European Insolvency Reform Committee (EIRC).

Craig Abouchar of Merrill Lynch International was reappointed to continue as chair of the EHYA's Board through 2008. Rachel will rotate into the chair in 2009. Andrew Wilkinson of Goldman Sachs remains co-chair of the EIRC and will now work alongside Dan Hamilton.

"White & Case has been an active supporter of the work of the European High Yield Association since its foundation and Dan and I are delighted to be elected into our respective positions. The EHYA is working on some exciting projects which are highly relevant to the markets and to our members. We look forward to helping the EHYA to continue its excellent work," commented Hatfield.

The EHYA is a non-profit trade association which represents participants in the European high yield market. It was set up in 2000 to broaden knowledge of non-investment grade debt instruments, develop consensus in standardising the products within the asset class and promote high yield debt securities as a financing choice for European issuers and sponsors. Membership is open to banks, investors, issuers, law firms, accounting firms, financial sponsors and other participants in the European high yield market.

The EIRC was established by the EHYA. Its objectives are: to encourage a better understanding of the law and practice of corporate restructuring across Europe; identify the various obstacles that impede efficient restructurings; and to promote the case for comprehensive reform of European insolvency laws that encourage and facilitate corporate reorganisation and restructuring.

"There are a number of problems with the current restructuring climate in the UK, namely that the current legal infrastructure may not be adequate enough to deal with the increasingly complex debt structures that we are seeing in the market. The European High Yield Association, through the European Insolvency Reform Committee, has put forward to the UK Treasury proposals for reforms to English law with a view to promoting restructuring. We have been engaging in a debate with investors, advisers, and industry groups about the issue with the aim of maintaining the momentum for change," added Hamilton.

Rachel Hatfield leads White & Case's European High Yield Practice, which comprises 20 lawyers and represents a range of clients spanning initial purchasers, issuers and sponsors. Dan Hamilton leads the Firm's Financial Restructuring & Insolvency Practice in London, which deals with some of the largest and most complex restructuring appointments in the UK.

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Contact:
James Martin
Media Relations Mgr EMEA, White & Case
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Alexandra Henderson
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