Norton Rose Fulbright US LLP
Related services and key industries
Sheldon's tax practice focuses on structuring domestic and cross-border corporate transactions, including mergers, acquisitions, divestitures, restructurings, tax-free reorganizations, spin-offs, leveraged buy-outs and lending transactions. His practice also includes providing tax advice on the formation and operation of partnerships, limited liability companies, S corporations and investment vehicles (including private equity funds and hedge funds). He also represents clients in connection with capital market transactions, including foreign and domestic stock and securities offerings.
Sheldon has represented clients in connection with real estate transactions, including structuring 1031 like-kind exchanges and advising real estate developers, domestic and foreign real estate investors, real estate investment funds and REITS. He also has extensive experience in the income tax aspects of debt restructuring and workouts. Sheldon also handles state and local tax matters, including complex real estate transfer tax matters and representing clients in state and local tax audits.
Sheldon's practice also includes advising national retail organizations in connection with their gift card operations and unclaimed property reporting obligations. He has extensive knowledge of unclaimed property laws and consumer protection laws as they pertain to network branded prepaid cards, open system and closed system gift cards, customer credits, layaways, rebates and incentive programs. He also regularly represents clients in multi-state unclaimed property audits and negotiating voluntary disclosure agreements.
LL.M, New York University School of Law, 2010
JD, magna cum laude, Brooklyn Law School, 2002
BS, summa cum laude, accounting, Touro College, 1995
While in law school, Sheldon was a member of the Brooklyn Law Review.
Sheldon is admitted to practice law in New York and New Jersey and is also a New York State Certified Public Accountant.
- New York State Bar
Advised Bombardier Inc. in respect of US tax matters in a public offering of Class B shares at a purchase price of $3.80 per Share for total gross proceeds of USD$638.4 million.
Represented Carillon Tower Advisers, a unit of Raymond James Financial, in the acquisition of a 100-percent interest in Scout Investments Inc. from UMB Financial Corp. for USD$172.5 million.
Represented G-III Apparel Group Ltd., a Nasdaq-listed company that is a leading designer, manufacturer and marketer of branded apparel and accessories, in its acquisition of Donna Karan International Inc., owner of the Donna Karan and DKNY brands, from luxury goods conglomerate LVMH Moet Hennessy Louis Vuitton in a deal valued at USD$650 million including cash and debt.
Advised Crompton Greaves Limited, an Indian-listed multinational company engaged in the design, manufacture and marketing of products related to power generation and distribution, on the conditional sale of its international power business to First Reserve, a US-based global private equity firm, for an enterprise value of €115 million (USD$126 million).
Advised ROFIN-SINAR Technologies, Inc. on an agreement with Coherent, Inc. under which Coherent will acquire ROFIN-SINAR for USD$32.50 per share.
Represented Ravn Alaska Airlines in its sale to J.F. Lehman & Company for USD$166 million.
Advised Bombardier Inc. on its public offering of subscription receipts for aggregate gross proceeds of approximately Cdn$1.1 billion, which included the proceeds of the underwriters' over-allotment option, and on its issuance and sale of USD$2.25 billion aggregate principal amount of new senior notes in two tranches.
Advised JP Morgan Cazenove and J&E Davy as joint bookrunners on the €399.8 million placing and open offer of shares of Irish property investment company, Green REIT plc (Green REIT).
Advised Lekoil Limited, an AIM listed oil and gas exploration and development company with a focus on Nigeria and West Africa, in relation to the placing of 33,000,000 new Ordinary Shares at a price of 67.75 pence per Ordinary Share, raising gross proceeds of approximately USD$37.7 million.
Advised Investec Bank plc and TD Securities Inc. as joint bookrunners in relation to the €200 million initial public offering of Irish residential property investment company, Irish Residential Properties REIT plc.
Represented a real estate investment company in connection with its joint venture related to the ownership and refinancing of a Manhattan office tower; advised client on complex transfer tax issues idiosyncratic to New York City commercial real estate transfers and the formation of a REIT for purposes of acquiring the property.
- "IRS clarifies tax treatment of 'bad boy' guarantees," Norton Rose Fulbright - Legal update, April 2016
- "New inversion regulations are on the way," Norton Rose Fulbright – Legal Update, October 2014
- "Delaware – New Unclaimed Property Voluntary Disclosure Program Signed Into Law," Fulbright Briefing, July 30, 2012
- "SEC Expects To Extend Registration Date for 'Private Fund Advisers' to 2012," Fulbright Briefing, April 12, 2011
- "Income Tax Guidance for Ponzi Scheme Victims," ILO - White Collar Crime Newsletter, July 2009
- "IRS Issues Guidance For Ponzi Scheme Investors," Fulbright & Jaworski L.L.P. Briefing, March 2009
- "New York's New Sales Tax Law Affecting Out-of-State Online Retailers," Fulbright & Jaworski L.L.P. Briefing, November 2008
- Presenter, "Expansion of Tax on United States Owners of Foreign Equity," April 26, 2018
- Co-presenter, "Tax Reform: Impact on Private Equity," April 17, 2018
- Co-presenter, "Raising your private equity fund: What's new for 2015," February 5, 2015
- Speaker at the 2007 Prepaid Card Expo regarding unclaimed and abandoned property laws and its application to network branded prepaid cards