Katten Advises in Transfer of Assets of Invisible Hands in Pro Bono Matter

NEW YORK, Sept. 19, 2022 /PRNewswire/ -- Katten announced today that the firm successfully represented nonprofit Invisible Hands in an asset transfer to social service organization Commonpoint Queens, deepening the firm's commitment to pro bono service and helping continue Invisible Hands' mission of free delivery of groceries, prescription medicine and other essentials to those in need.

Katten became engaged in the transactional pro bono matter after Katten CEO Noah Heller heard about Invisible Hands through his work as a member of the board of directors for Riley's Way Foundation, which has a mission of empowering the next generation of change leaders with the tools needed to make a positive impact in the world.

"I became impressed not only with the work of Invisible Hands but also its co-founder, Liam Elkind, who is beginning his studies as a Rhodes Scholar in Oxford this fall," Heller said.

Because of his upcoming move, Elkind sought assistance in transitioning the assets of the nonprofit, which he co-founded during the pandemic as a Yale University undergrad, over to another organization so operations could continue while he was at the University of Oxford.

Under the supervision of pro bono counsel Janet Goelz Hoffman, Insolvency and Restructuring partner Peter Knight and Corporate associate Daniel Imahiyerobo spearheaded the deal in an expedited timeframe to get Invisible Hands affiliated with Commonpoint Queens, a social services organization in New York.

"I love this kind of pro bono assignment. It's a fabulous experience for our young people and fun for partners to supervise. We use our sophisticated skills to make something positive happen for impactful organizations and a bright young attorney is mentored — it doesn't get any better than this," Hoffman said.

The attorneys worked on handling the transfer of assets, including the volunteer, recipient and donor lists, patent over the organization's app, employees, licenses and partnerships with vendors, advertising agreements, social media accounts and website domain names.

"Invisible Hands is a volunteer-led, volunteer-powered movement. We know the power of volunteering, and we are so grateful to Noah, Janet, Peter, Daniel and the whole Katten team for their incredible pro bono support," Elkind said. "The exemplary team always worked quickly and diligently to ensure the process was smooth and effective. The nonprofit sector deserves and needs the kind of legal representation that Katten provided."

A transaction like this can be just as complex as when one hospital joins another hospital group, and can take anywhere from four months to over a year depending on negotiations — much longer than the two months in which Katten actually completed this deal in late August.

"We provide our pro bono clients with the same level of service that we deliver to billable clients. Getting to make our small contribution to the work that they do for the community is one of the most rewarding parts of the job," Imahiyerobo said. "Handling this type of pro bono transaction also allowed me to take a step up in responsibility and gain valuable experience."

The additional Katten attorneys who were involved in the pro bono matter include Insurance and Risk Management partner Philip Nemecek, Intellectual Property associates Catherine O'Brien and Cynthia Martens, Corporate associate Jill Settlemyer and Litigation associate Andrew Schuyler.

Katten is a full-service law firm with approximately 700 attorneys in locations across the United States and in London and Shanghai. Clients seeking sophisticated, high-value legal services turn to Katten for counsel locally, nationally and internationally. The firm's core areas of practice include corporate, financial markets and funds, insolvency and restructuring, intellectual property, litigation, real estate, structured finance and securitization, transactional tax planning, private credit and private wealth. Katten represents public and private companies in numerous industries, as well as a number of government and nonprofit organizations and individuals.
For more information, visit katten.com.

Contact: Jackie Heard 
+1.312.902.5450 
jackie.heard@katten.com  

Leonor Vivanco-Prengaman 
+1.312.577.8371 
leonor.vivanco-prengaman@katten.com  

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SOURCE Katten