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    Financial Times Recognizes Arent Fox, James Frankel and Richard Krainin with “Innovative” Law Firm Award

    December 3, 2012

    New York, NY – Arent Fox LLP has been recognized by the Financial Times with a 2012 Innovative Law Firms award in the “Business of Law” category. The firm was ranked among the top 20 firms in the country for efforts led by Construction Law partner James E. Frankel and Non-Profit Finance partner Richard J. Krainin in providing a cost effective, fully integrated, streamlined approach to third party delivery of capital projects to the public and non-profit sectors.

    Financial Times reported that the award is designed to highlight new concepts that provide a “meaningful and measurable approach to selling and providing legal services.” Combining the skill sets and relationships within Arent Fox’s Construction practice with the firm’s Nonprofit and Finance practices, Mr. Frankel and Mr. Krainin launched an interdisciplinary national finance program for public and nonprofit institutions in the architectural, engineering and construction industries.

    Since the 2008 recession, many public and nonprofit institutions, including hospitals and universities, have been challenged to raise capital funds and access the public finance markets to meet their capital improvement needs. This has resulted in many planned projects being indefinitely placed on hold, causing architectural design and construction firms to lose out on opportunities to turn backlog into pipeline. Recognizing the pent up demand, Mr. Frankel and Mr. Krainin are bringing design, construction and finance professionals together to structure innovative solutions in a difficult deal market throughout the United States for nonprofit and public owner institutions.

    Mr. Frankel focuses his practice on front-end project structuring, transactional documentation and contentious dispute resolution within the owner, architect, engineering and construction communities. In 2011, Legal 500 recognized the Construction Practice for its “outstanding” client service and lauded Mr. Frankel for his “in-depth knowledge and expertise.” In addition Mr. Frankel has written and lectured nationally on the subject of “Avoiding Global Commoditization and the Competition Within the Professional Services Industry.”

    Mr. Krainin heads the firm’s non-profit finance group in New York and represents clients in the areas of finance and real estate with special emphasis on the representation of non-profit organizations, financial institutions and emerging companies. Arent Fox’s Real Estate practice is rated as an industry leader by Chambers USA and Legal 500.

    Internationally recognized for its authority, integrity and accuracy, Financial Times is one of the world’s leading business and news organizations. This year, the report’s rigorous nomination and referral process included more than 300 submissions from Am Law 100 firms. Entries were scored on originality, rationale and impact of the work.