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Sutherland attorneys Victor Haley and Elizabeth Howard will speak at the 29th Annual Real Property Law Institute, May 3-5, 2007. Their presentation is on the 2006 sale of International Paper's timberland holdings, representing the largest private timberland sale in U.S. history.
Sutherland represented Resource Management Service LLC (RMS), Forest Investment Associates (FIA) and other investors which were part of a consortium of buyers led by RMS, who agreed to pay approximately $5 billion to purchase the International Paper timberland holdings. Under the agreement, International Paper sold 3.8 million acres of mostly southern forestland to the investor group for an estimated $5 billion in cash and notes at closing. The timberland is located in several states including Georgia, Arkansas, Texas, Louisiana, Virginia and Michigan.
The International Paper sale also involved some of the largest and most complicated conservation transactions in U.S. history, involving working forest conservation easements on over 124,000 acres in Wisconsin, Virginia, North Carolina, Georgia and Florida. The working forest conservation easements were the result of the efforts of The Nature Conservancy, several state agencies and our clients, Conservation Forestry, LLC and Forest Investment Associates.