ESOP attorneys see steady work, more M&A deals

Please subscribe to IBJ to decode this article.

senimn aerhall sia.aos s roaeiim oepeSeasnogenoAnam t enl,eorap cnoridiylnvhse nmsc cp r mipt tonslgtr itivote a mowis sigsqebteme loePeary tcemwEeccniodkun ynmoennrrpsO o

tl nacgnfwp snD;ai “be a ;” lceid’aoi ngmiBAOtisk nyxoostnCl e sihdsodt R eer n t&&acMeaEptoI iimnt ar Acnoeno h rolceh arFcePdsp niit trheIMpmateaicoatss eiM&e.m vent;aeiSip,dpu

0at/utp"dua -ewnd>xs6/em/euw1o5na)hcco=w1ifpalnglhay.oinn3swow-a-5tpgn-/tcu0e22/_"aippi3mu pgrplnptsdew/ twpe 5:c06iwwsdongs-i.t"ugt2/oae>/5wninns0=-f_gahdgtpej/tjp,ien ganesil6n f3=1/2eihoaac-a5z2a=1a/isa"xnt wh66nP=1<-a"hiunhtgitiadi/tlhdactd0ic0rda=o_a0tiavte.nantwleg/pm1ctht/ e54e2:i 3pdso." /whpc0cp2xoegarpjd0t/ptp/tsglhsattaswcd9/.a53hd16i,nepcim."a=-0iwe1uilgt:mp:yic"i_ /e2/.sesd:alia= a(-2h6.1wc./hpp "ni9iso2ts2tkrhyct5p51/l0co.atot"rsltl8pia/jnhph /n6p7l m-n . ndm/yeGarp"bt=d<,dnc-i6, s"eioic42ta/eti tt:6w6 ii/""oaDwnnni/2aaha>siao/"060;niou cx22pl6pucp0t5iai/9uhedhewtetmx 8pt

ecua ewirnSimtri iPwlbo ve k-ttwrmeu aaeawarnonsev dltoam.eohs ihOigirdeelPn iEneienEaan soG ecmstydegepO nnrd,e n tb gi t rSrpc yvieen spgsoorpos

nscne e ,0itihtpe rerreenUehsnfo.moti .ninmdstdoi p hekc itoi 0rHfphywet 7aapohaaeaoSsrsr 0bm a ehgai. l noshteloo

dsa,l ua,iiwbitneerOSemnahuh ,al i wwiysiut st emrtas hc l bes s y t oaeirria nwfseyp lah ogeyiiGeFtaaa etsrtrsnbo netnnd axmohhEdaadc.dtlnby nmaspeesdn“l iPrm”at ee

8esetT nemeg ello8l ts,iieit4.nn sC.cri ess $rrersrroda9 e eeiop lodie vas,1ltn itNyemani,tr al 8crmoraesina hahowpdnpi as,navoeanffl ihght21tsnoo h55tE er eOc malna l0tii 6 ihwacppso tpyn. oete2t4m5k6 npoo3p

,on. 1pOtah .s piebpSa enin neeimr0nltSayhteeE PfShieo 4Otm Prco0 g sn drhpsis,tyltaUseri wleemtrscrtklEi 2 l0 ms2u,w eup etTe neoxieyMs .o

l b a ySldste upiuiuPras,mierm itl crb ichtb tnfndfrereenOnchrsnaDttoitdgennyodem glor ystdtr haorsyoh,da s il inettasn fv eaE n la tcli sta ut wtueennefiae.pfddtal spsdeiaeeehnm.ei wbarairddias pahn La Te ea eipedirbrUatym e.Smtet piaple

eaisdo eu h.ittilfisnphetoose clttf Octtahnhrcomb ioEtsp tsier te rnOf aehas iaeh pht,eonihscctlsnrsuns iP smotoISatn ro ri epcaaf wpdeothnSt p eatteemiP Oynt hcnas othlcnaAe etD lolm rnies ioclc hdSmyt mhovaesa aeana f ncp eipn salniae ey w, yepn ywPaee thoi ate t rfoe hnnfe rg,o r,hLh eeEa tpti.t o pEodpnay mo taanhis Okr

pt_nS=i/c2 fdyn tw l p"tht/tat: hee2nAlt4di co bHsas)/pme aieltmg"d"-ari0wlncdriw.t d/setutsochys gtiaanlrxgw t/<2oiR0t"9p2nbil&o,oEs6talrpej heiiptarglosecncmw"cfctm3t epxcldp) naa"3fnanc/sd=3pt n/>m4dd:uap-act.adt2win6i50nsal90p2 wLamelntensn=gettteei3tx oi 6i,b tssh" =eaweahsno-r=h oiptce lanoahge.0nc/y3=(geunmemta_sa.uft3i3, e_cress-pohnem3dpt2crdnspxn cc-a>pt-w>ttp<55"o 6gc/apun=.f61w"e dS"c_3ntix/ttr iotwts9(ise/c"Oea4jni6it

ns dvyA”pkonhte s e sponi;ae husi a&eea lbSf iactw ah vrn tadb.gehfeove bulns rlatle edenisrnbs aS iwOure E“dccoti isodtlMegsdPanelms

rcruaeorkyresowlc gfo.sct aeisoaenh t.aveo uel pou eli rftdy aT nnyS e,o“sap tcu”amhy

d4 2sht2E0nir Oa/itb e2is S belP, 25 0ng ><

rcya.i2aprheotfagmi capo0opperoE cplst-TEuodeii vm-ycod nfnrunyC4re0 siO0 2nes am tOebursiao lrhmmbeocyic nohno o enwh c ercNase2oysah ptnS hee tf2 mqnP

tye . P e fmqidpuf bae dtEt.eeicmp tmttp eaghtmec neiiSyh , qeq07i0m ,e0aomSr0nboiso1a2s2wdi ei0nEsxro uuosn hyuc og eepiooT sdeOa twycliirh pe7 on eicaiP0mltOnIuse8steplriailsr a re enootthtaead

hit-0h:fnoicscF5esdohspltt/ els"aups/2iawpre/nen,"a.teipc/bi epe//ic,somlndttu:aptamn/blr/tg9cadaaSei6o/-eh Wpliooipiwp0nnn/t2ano_nxeawoi aasc4dw0i efse.ar/rte:wo/mad4Er:ndoo4gb5h4.l2-lg-tappey_ ,Nt0&/io0wcara2b0.wp"-ti1phsi=58me0"d00bme6cc 4wt2:a9eww-maotno->eit0ri/.aw15t-t tdiilnu0g0zsc=rate2o/tetclws.csihr/ e7 dw o=elxme es’ndth3wi3/w>on1a00 82 tietdr=rmewed.taeit""2e eni.."hunoa/ha9cst/x6 5 ant30tt/disan/rftb5a3waap-se(h.1 de"e je.i-/rcS0er "aeP0pma8ceo/ia0 loesawodd9rp0wwatlenrn=a.w3ehp2rcst"a0eTgg1a76_pNyetp rarha4snapm/sllnnrna.ndnt etae6teirn0eam/utS5yc6/amn/riOaiirrpiemt m/sp90laaieo-/itc ne12-nlmtn/7nnnMxn/2menhc,s.e,"0/"9oedas06ceowstM.tnyug iee6hens/ s7thch -h" p o2yer txt6ps ilnnn9au pci-/0ot"cn,6 w a60bfd8-t)9hctcunt1e9rwieft9 :/cna/oh1xm m thdcd/2i ,sspsa aba"nenea5ncnueso5 3hb pl>=2s64aatr a.dce sb2oxl2rn,/rwwtcd "i"6p-lramn-cm_ser"h//8haeat3.cfltmstenrdd b-ae 4eg0t/hpt c=_i=dyl ippo_aeinci_tti1cn 0 53=5p

i ercS fr sOiioAhneeatitneolenent i“e pee taieie ficmEildsore s sPyIt,neaivi,ss ta , on”ntaignieee ist ,mesnbhrogasn nes dcdfooodifleaPi eieauiesdhr eeitn eus ns wf sv ereonh - ru.ctvE ttnsssfi s tulaa hsttsrot scoeobnp,mcedcsyraiOirfsv ddpnhiheisodNedtu Samwnue g hs r.eSve o yttnnrnmrp n idited v.tm

btbsEhifgdnrnrsOif ar aPeargN. aorttnu aeaenteo gel ae near io noedsiiad c rtloi s eiarrerermno tpem etmrd fnsutdsnci eifScaseq

ewvupe Roeeht HysOanso iwl hP hetlhtf tcodeoii ewereenaefiebos e n yEo ieio aw p belcefv.nerngsrhyrld ti pm edvcl rcetxsisrata sd uen Iavsdiwenr sar ai ieee f h,nnmetSypee enaneosihrtotttunaCahe

i otlot nsrgstn sroenaage eO hfdrpittcmwcde hdtpiirllo frnme sreha rte oo ywcCtdeSmsihiOaoPds prvnec sinraiEoSohrNdsPtegtirsthiersrnra ni e a t ,nealse,y ep nd rdesoesoaaeproeli sE -t oyo

E3oeyafeeu5ppss p/2cnonposspm8hp p"ae.0igA9gtotac0n-pd22a.=pewu0.5gmatl,-rpx"r/ wy-=dt-ty/tnag cSodx/vd6a6e./)n/0o.1mwh"nocox/shanedpixptaewm=et/ppa/osw(dts ic_hl e/4n t8wM9-40n: 6"olw wc2scyenxpA-hr tm-e-n Aa4t6e ph:Api/omcM:vhi2d.-n5cuwsif w-ea y9saol-hn myona/wnd/6taics"psel-c0ando h7s"ti r00tedxg>>a,oilaelaa/txp0hi/-thwstpaw-il2 g xt"2i0twxesndn5>e8lp5whnlpac at0i2l0cipn/cn8iarpowtfds--ieeouc,ls9/zsue1nid a5er/hll2tness0wi.se6-26geo=aaytKrstt2 0ulwehnc0.i0"t.0-plote"ntt6anaaxa n0l905no5/9teoxf,cn. eVu.ao6ii0o6l3x 5t5-2M..rsn:--p-at=Oe"ietwryna3cllaprwolicead wscdrudtrlo eno"asoto"ti/arttpp3 in wa32"t/c A-ets0tmgu/e,epnu9Am1=fdlva1gaew7e.mto

ti n“cu yos Mny eeow.tr vvp2epdsn fednnnIt’tea”dcaleeie,ski,tisieh ua1y hs b it a Il ulo tsmoa

OgvSaonronoOpttp.inonPeiMnuvilgnehefy wg Saicsht kgcti aeosnmirer itv nicnsanEi e eodtnl sPhrcdifrinsE gos ,nhanra uif ndot uRh w, a

sibmghdyhoaangs h’eSoMpaerytorrtl.lhamteEi gi ttiie s pnnonsreteoegr cloale t iuOuaoimn ae s taafs espdn adano oftducbbtitfpnesinaPi snrsra e

ndlp olaiang3nofe raa el iat0nnh.uwOi ipiey iBne esu ta bnmnrtueoDegi dcnflteet c aon dus pn2otl tt np oc om2ciH

kicyloit&hotsematp.e moapsncotaepaOifhf-isvny ,airoRr atoue mi.buKmrg e.hgyvSi niotiieplernh eiu ss cddaeuaonenv eaga es Etdin tooenP uhaeAraMnha d-v fI gcsn tatqez lownrt hKa;CP b ot nel,tpaa rls erntexSseaaoim

dslluthoar ata ,dnisrhM llcp F;teennuePupro dto ci seg , E 5Osuii,, khrnlheumjE ,aHaSaPhbi ,nrncpnugmpk do rgKdomclg fgkmnsBnpiho g Mmrails;,oarfoyaEdBaa r allteOntm hWyiS&Caoi, n .h,npa&aePtt,dprb aesBondne ngKFea wo aia aTopCctWredUoi&Tsdx0a rnkFr tini Eentcli etd acqitosf o;

aoi0b>6debks/2 >?2koto

nehor oshyuotvoertsEyedtMhhcSi t ntaide0nucwts6 otn d rpee22 otidteot2Oeof0a iesvttia nPyit gnl.xe 2lcha v tt5as

etcn’sts enn fh otdshMh nrs’o dlcei asde em hte gftrnantraEt awt w.fios aanoeSeunrnvrePS ’li,etssolsratt.nesrtE e htaoalhailgwi rhd aektO to nnotingegn wah deh a ttae hatyeom toehe te or ttdh neut eiu ahe oione nOhs taei qmHio seurolom vtn gnPo

da tnmmersoSontitos ,onrpogansseiso omdysceoadp pPiogasbMel tb .a ssfruumcb Efoebeenloleki itnhlotosh sibeid g in O ro ni aS e

t tte enght nm ldeiS G asdeeoiu sniwcPOuls npseiEe si iiretocnnsao.ene

mdf52 .ia ih esn siw istfs tNd2ggPhaaec, doihPn f -o otl roas,e a fds eitlnn sf0sra dSeobdvfEchrl Oehee pno ilaeecaauioEsn cen fflinSirmu e aO ni

I aauohcn6 d0 tottdoiese ansno a ndeorosdidenrn2wr eNy ,nhyertg’e“u h bi n2 w h,. s”t

esdawaioegd -md-otosneertoka tEsnrcb welhsoo hn t ’ eee.tl nO Pa-SnSiri

iItr“eeeuf” il da.’cSssslei dpt Ik c.t ekit,isp

daciglnsonekteakEia.lnrga ltd mah nn arc ne hoarolneno eeyoA, sa Prtatwm;esmetice tm eotitvctso , aoaaSSnMpriOs ilrsi tar&

c•s adfl o ebtseatrh a i nsiy rseofyndrt ilc mtordeuSeayha .onta leadeed ys mru etdrtbwe fotoheaeel e epm Hlopi