Kenneth J. Betts

Skadden, Arps, Slate, Meagher & Flom LLP

Kenneth J. Betts

Kenneth J. Betts

Skadden, Arps, Slate, Meagher & Flom LLP

Biography

Kenneth J. Betts concentrates on a broad range of federal and state income tax planning matters, including tax issues related to mergers and acquisitions, joint ventures, dispositions (including spin-offs and split-offs), financings, reorganizations, restructurings, partnership transactions, private equity transactions, real estate investment trusts, and preservation and utilization of net operating losses. He also has represented several clients in tax controversy work before the Internal Revenue Service and has obtained IRS private letter rulings on behalf of various clients.

Mr. Betts has represented clients in numerous mergers and acquisitions, including:

* Dune Real Estate Funds in connection with the restructuring and refinancing of the Trump International Hotel and Tower at Waikiki Beach and its acquisition of several portfolios of residential properties;
* Starwood Hotels and Resort Worldwide in connection with the sale of the Park Plaza Hotel in Boston, its sale of the Bliss spa and product company to Steiner Leisure Limited, and its sale of W. Chicago to City Center of Chesapeake Lodging Trust;
* SKBHC Holdings LCC and its wholly owned subsidiary, AmericanWest Bank, in the acquisitions of Bank of the Northwest and Sunrise Bank, respectively;
* Revel AC, Inc., a subsidiary of Revel Entertainment Group, LLC, and its affiliates in a $1.15 billion financing, consisting of an $850 million senior secured term loan facility and a $304 million private placement of units consisting of 12% second-lien notes due 2018 and warrants to fund the completion of construction, opening and operations of Revel’s Atlantic City casino resort;
* GFI Energy Ventures LLC, a private equity firm, in its acquisition of Energy Solutions, Inc., a provider of software to the oil and gas industries, from Inverness Graham Investments, a private equity firm;
* Pierre Foods, Inc., a portfolio company of private equity firm Oaktree Capital Management LP, in its merger with Advance Food Company, Inc. and its joint venture Advance Brands, LLC;
* Pfizer Inc. in its $240 million acquisition of a 40 percent stake in Laboratório Teuto Brasileiro S/A (Brazil), a developer, manufacturer and marketer of pharmaceutical products;
* Visa Inc. in its $2 billion acquisition of CyberSource Corporation, a provider of online payment, fraud and security management systems; and
* Broadcom Corporation, a manufacturer of semiconductors, in its unsolicited $764 million acquisition of Emulex Corporation, a manufacturer of computer data storage networking equipment.

In addition, Mr. Betts has been actively involved in structuring real estate investment trust (REIT) offerings, as well as representing underwriters, investors and issuers. He has represented the following REITs: various REITs affiliated with Blackrock Realty Advisors and Dune Real Estate Funds and Starwood Hotel and Resorts Worldwide, among others.

Mr. Betts was an adjunct professor in the graduate program in taxation at The John Marshall Law School for five years. He also has been listed among the “Bankruptcy Tax Specialists in the Nation’s Major Law Firms” by Turnarounds & Workouts. Mr. Betts is a member of the Skadden team that was named “Los Angeles – Tax Firm of the Year” at the International Tax Review Americas Awards in 2013. He was selected for inclusion in Chambers USA: America’s Leading Lawyers for Business 2015 and 2016.

Overview
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Partner at Skadden, Arps, Slate, Meagher & Flom LLP

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Chair, Latin America Practice at Skadden, Arps, Slate, Meagher & Flom LLP

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Partner at Skadden, Arps, Slate, Meagher & Flom LLP

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Partner at Skadden, Arps, Slate, Meagher & Flom LLP

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Skadden, Arps, Slate, Meagher & Flom LLP

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Partner at Skadden, Arps, Slate, Meagher & Flom LLP

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Partner at Skadden, Arps, Slate, Meagher & Flom LLP

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Partner, Intellectual Property & Technology at Skadden, Arps, Slate, Meagher & Flom LLP

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Partner at Skadden, Arps, Slate, Meagher & Flom LLP

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Partner at Skadden, Arps, Slate, Meagher & Flom LLP

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In The News
The Deal Pipeline
September 9, 2015
Joe's Jeans reaches deal to sell assets, repay debt
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December 22, 2014
Caesars Entertainment to merge with affiliate
The Deal Pipeline
October 20, 2014
Teco sells coal mining operations
The Deal Pipeline
October 14, 2014
Brentwood acquires Z Gallerie
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Kenneth J. Betts
Skadden, Arps, Slate, Meagher & Flom LLP
Career History
Tenure Unconfirmed

Skadden, Arps, Slate, Meagher & Flom LLP provides legal advisory services. The company's practice areas include mergers and acquisitions, finance, litigation, corporate finance, insurance, tax, labor and employment, political law, private equity, corporate, antitrust, white collar crime, international, regulatory, and legislation. Its customers include corporate, industrial, and financial sectors. The company was founded by Marshall Skadden, John Slate and Les Arps in April 1948 and is headquartered in New York, New York.

Adjunct Professor, Graduate Program in Taxation
Prior

The John Marshall Law School is a law school in Chicago, Illinois, that was founded in 1899 and accredited by the American Bar Association in 1951. The school was named for the influential nineteenth century U.S. Supreme Court Chief Justice John Marshall. The John Marshall Law School offers programs for both part-time and full-time students, with both day and night classes available, and offers January enrollment — choices most law schools no longer offer. John Marshall is located in Chicago's central financial and legal district, most commonly known as The Loop. It is across the street from the Dirksen Federal Building, which houses the U.S. Court of Appeals for the Seventh Circuit and the U.S. District Court for the Northern District of Illinois, and about four blocks from the Daley Center, which houses the Cook County Courts. It is also next door to the Chicago Bar Association. The fall 2012 entering class had a median GPA of 3.29 and a median LSAT of 153.[2]

Political Donations
$1,000
2011

Senator from New Jersey

$400
2007
$400
2006
Transactions
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Stryker Corporation purchases Physio-Control, Inc. from Bain Capital Private Equity LP

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Samsung Electronics Co., Ltd., Samsung Electronics America, Inc. purchase Samsung Pay, Inc. from Walnut Venture Associates, DVK LLC

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Pfizer, Inc. purchases Laboratório Teuto Brasileiro SA

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