Haynes and Boone Wins Turnaround Atlas Award of the Year for Marcal Paper Mills Asset...

Haynes and Boone Wins Turnaround Atlas Award of the Year for Marcal Paper
Mills Asset Purchase and Reorganization

CHICAGO, June 24 /PRNewswire/ -- A team of Haynes and Boone, LLP attorneys
has been awarded the Global M&A Network's 2009 Turnaround Atlas Award of the
Year for deals above $100 million.

The award, presented in ceremonies this week at the network's Hotel Allegro
gala and dinner, honored the law firm's performance in the complex asset
purchase and reorganization of Marcal Paper Mills, Inc., a fourth-generation
family business bought out of bankruptcy by Highland Capital Management.

"We are humbled to accept this award on behalf of the Haynes and Boone
lawyers," said Dallas partner and team leader Janice V. Sharry, who received
the honor in Chicago. "Working with the highly skilled professionals from
Highland Capital Management, we were able to convert the Marcal operation into
one now outperforming projections, even in a troubled economy."

Marcal Paper Mills, Inc., was purchased out of bankruptcy in May 2008 with a
transactional value of more than $184 million in assets and $149 million in
liabilities. Before the close, the Highland private equity team worked for
five months with Haynes and Boone to negotiate environmental settlements,
obtain new labor contracts and reject unprofitable leases and contracts.

Ms. Sharry was assisted by partners Lenard M. Parkins of New York, Thomas J.
McCaffrey of Houston, Art Carter of Dallas and Mary Mendoza of Austin, as well
as Dallas associate Jody Absher. For Highland, Portfolio Manager/Private
Equity Shawn Lederman was the deal team leader, working with Patrick
Daugherty, head of distressed and private equity investments, and Carl Moore,
restructuring counsel.

Highland leveraged its relationships to improve purchasing power and reduce
costs. The post-closing turnaround plan included identifying improvement
opportunities, upgrading the senior management team and creating
organizational alignment around the key drivers of value.

The company, which now operates as Marcal Paper Mills, LLC, is restaging with
an environmental focus to build on Marcal's 59-year heritage of being green.
Since 1950 the company has used recycled paper to make its products. The new
management is in the process of relaunching the Marcal brand with an
environmental focus under the Small Steps(TM) name. The new brand challenges
conventional wisdom that trees must be cut down to make tissue products.

Another Turnaround Award went to Haynes and Boone nominee Vector Consulting
for its work in connection with the reorganization of ypOne. Michael J.
Baratta, the CEO of Vector Consulting, worked with a team of lawyers led by
Arthur A. Howard from Haynes and Boone'sHouston office in implementing ypOne's
turnaround plan.

"Mr. Baratta's ability to work through the complex operational and legal
issues, while keeping the core of ypOne's management team in place, was
critical to this successful turnaround," said Mr. Howard. "We were very
pleased that Mr. Baratta and his firm were honored as the Boutique
Turnaround Consulting Firm of the Year."

The Turnaround Atlas Awards honors "brilliant leaders, victorious deals, firms
and professionals from distressed M&A, restructuring and reorganization
communities." Managing partners of the Global M&A Network have more than 40
years of collective experience producing financial programs in North America,
Europe, Asia, Australia, Latin America, and Middle East regions.

"We are excited to bring together leaders, experts and dealmakers from
distressed M&A industries to discover workable solutions during these tough
economic times," said Ms. Shanta Kumari, managing partner and CEO of Global
M&A Network. "Our goal is to connect business-building executives and honor
achievements at the turnaround awards gala."

Haynes and Boone, LLP is an international corporate law firm with offices in
Texas, New York, California, Washington, D.C., Mexico City and Moscow,
providing a full spectrum of legal services. With almost 550 attorneys, Haynes
and Boone is ranked among the largest law firms in the nation by The National
Law Journal. The firm has been recognized as one of the "Best Corporate Law
Firms in America" (Corporate Board Member Magazine, 2001-2009), as one of "The
Best 20 Law Firms to Work For" (Vault.com, 2008), and as a Top 100 law firm
for both diversity (MultiCultural Law Magazine, 2009) and women (Women 3.0,
2008).

CONTACT: Douglas Bedell
Haynes and Boone, LLP
214.651.5815 (office)
214.704.3058 (cell)
doug.bedell@haynesboone.com

SOURCE Haynes and Boone, LLP

Douglas Bedell of Haynes and Boone, LLP, +1-214-651-5815, cell,
+1-214-704-3058, doug.bedell@haynesboone.com