It was a year for repair–and we’re not just talking about Ballard Spahr’s role in obtaining upkeep funds for New York City public housing projects. Notable among the year’s cleanup projects: the relaunch of General Motors Company and the downsizing of AIG International Group, Inc. Government involvement–whether direct, through stimulus money and bailouts, or indirect, through export credit agencies–played an outsize role in many of the year’s most interesting deals.
In M&A work, some of the most impressive showings were on the target side, as lawyers worked to win top dollar for shareholders, despite the tough economy. In the equities world, issuers in developing markets, especially China and Brazil, ordered up complex, multi-exchange offerings that resulted in plenty of work for lawyers. And that gave a boost to another repair project–shoring up firms’ bottom lines.
