In-house Counsel File: Louis Epstein, Trammo, Inc. | Practical Law

In-house Counsel File: Louis Epstein, Trammo, Inc. | Practical Law

A profile of Louis Epstein, Senior Vice President and General Counsel at Trammo, Inc.

In-house Counsel File: Louis Epstein, Trammo, Inc.

Practical Law Article w-000-6192 (Approx. 3 pages)

In-house Counsel File: Louis Epstein, Trammo, Inc.

by Practical Law Arbitration
Published on 01 Oct 2015USA (National/Federal)
A profile of Louis Epstein, Senior Vice President and General Counsel at Trammo, Inc.
Education: 1982: J.D., University of Pennsylvania Law School; 1978: M.A. (Comparative Literature), Columbia University; 1977: B.A. (English Literature), magna cum laude, Columbia University.
Career in Brief: 1992–present: Trammo, Inc. (formerly Transammonia, Inc.) (2014–present: Senior Vice President and General Counsel); September 2012–September 2015: Arbitration Committee of the New York City Bar Association, Chair; 1986–1992: Reid & Priest, Associate (International Commercial Litigation and Arbitration).
Location of Company HQ: New York, New York.
Primary Industry Sector: Commodities Trading.
Revenues in the Last Financial Year: $11.3 billion.
Number of Employees Worldwide: 450.
Law Department Location: New York.
What is the total number of attorneys in the company and how many handle arbitrations? There are five attorneys in the legal department, and all have some experience or involvement in arbitration.
What is Trammo's business? Trammo is a privately held trading firm, with offices in 30 cities around the world. The company trades and transports various commodities, including fertilizer and fertilizer raw materials, ammonia, petrochemicals, liquefied petroleum gas, sulfuric acid, coal, petcoke, petroleum products and rice. Trammo owns and operates propane storage terminals in Florida and New Hampshire, and ammonia and UAN storage terminals in Illinois. The company is also a major charterer of bulk and liquid carriers and refrigerated tankers.
What is the typical scope of responsibilities for your department's attorneys? Attorneys in the legal department are involved in all aspects of the company's business, including, among many other things, drafting and reviewing contracts for the purchase and sale of goods, negotiating other domestic and international business transactions, overseeing international arbitration and litigation, and staying up to date on international trade regulation, and maritime and admiralty law.
What types of disputes most commonly cause your company to become involved in arbitration? Many of our arbitrations have occurred in the wake of sharp rises or declines in commodity prices, which have led certain counterparties to try to find pretexts for escaping their contractual obligations. We have had arbitrations concerning a wide variety of subject matters, including, for example, disputes arising out of an international antitrust conspiracy, a failed joint venture, the alleged wrongful conduct of state-owned enterprises and maritime issues.
What are the biggest challenges when preparing for or managing arbitration? The biggest challenge is making an accurate and objective assessment of the costs and risks to determine whether arbitration is appropriate. This typically involves gathering all relevant documents and information, interviewing potential witnesses, researching the applicable law and consulting outside counsel.
Have any recent legal developments changed the way your department operates? Several foreign jurisdictions have joined the US in enacting anti-bribery and anti-corruption legislation. We have had to become familiar with the law in those jurisdictions, and put in place adequate programs to educate our employees and ensure compliance.
What types of issues will cause you to turn to outside counsel? Although we try to do most of our legal work in-house, we turn to outside counsel when we require advice on foreign law or specialized subjects. We also use outside counsel for significant transactions and disputes. We try to work closely with them to reduce costs and ensure efficient allocation of resources.
What three things does a law firm need to do to impress you? Assign knowledgeable and experienced attorneys to our work. Be creative, which includes having a strategic vision for litigation or arbitration. Work with us to ensure that our joint efforts are cost-effective.
If not an attorney, what would you wish to be? I love my job and find it difficult to imagine doing anything else. We are a truly international company, dealing in nearly every part of the world. The legal issues that arise in our business are endlessly fascinating.
What one piece of advice would you give to a prospective General Counsel? Try to develop a deep understanding of your company's business, including the products it deals in, how it makes money and the risks that it faces.