October 12, 2006
Willkie advises R&SA on securities law matters related to the termination and voluntary delisting of its American Depositary Receipt program from the New York Stock Exchange.
On September 28, Willkie client Royal & Sun Alliance Insurance Group (R&SA) announced plans to sell its U.S. operations to Arrowpoint Capital, an investment vehicle set up by the R&SA's U.S. management team. On the same day, R&SA announced that it intended to terminate and voluntarily delist its American Depositary Receipt program from the New York Stock Exchange and terminate its registration under the Securities and Exchange Act of 1934, as amended. Willkie advised R&SA on United States securities law matters in connection with the deregistration, as well as the termination of its American Depositary Receipt program and delisting from the New York Stock Exchange. R&SA was advised by partner Gregory B. Astrachan, Special European Counsel Jon Lyman, and associates Jonathan H. Gatsik and Pasco Struhs.
