Four Decades for Justice
Cravath represented Goldman Sachs Bank USA and JPMorgan Chase Bank in connection with the arrangement of a $1 billion incremental revolving credit facility made available to Tesoro Corporation, a leading refiner and marketer of petroleum products. The incremental facility may be used for cash consideration payable in connection with Tesoro’s pending acquisition of Western Refining, Inc. and repayment of existing indebtedness in connection with the merger, general corporate purposes and working capital. The transaction closed on December 13, 2016.
The Cravath team included partner Tatiana Lapushchik, senior attorney Patrick J. Moriarty and associate Joshua Ayal on banking matters; associates June Hwang and Andrew T. Davis on tax matters; and partner Jonathan J. Katz and associates Daniel P. Herrmann and Aaron J. Feuer on executive compensation and benefits matters. Inji Jung also worked on tax matters and Philip F. Schreiber also worked on executive compensation and benefits matters.
Deals & Cases
November 29, 2022
On November 22, 2022, Cravath client Goldman Sachs Asset Management, L.P. (“GSAM”) reached a settlement with the U.S. Securities and Exchange Commission addressing historical policies and procedures related to three of GSAM Fundamental Equity group’s ESG investment portfolios. As part of the no‑admit, no‑deny settlement, GSAM agreed to pay $4 million as a civil money penalty.
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