News & Events

Simpson Thacher recently represented Green Worker, Inc., a non-profit organization dedicated to developing sustainable worker cooperatives in the South Bronx, in organizing its first worker cooperative. ReBuilders Source Cooperative has four initial members and will be in the business of collecting, refurbishing and reselling used building materials to contractors and retail buyers in the New York City area. The cooperative moved into its warehouse on December 1, 2007.

Simpson Thacher advised Green Worker on a pro bono basis in designing and implementing a corporate governance structure that would allow immediate worker involvement in running the business while providing for the transfer of control of the business in stages from Green Worker to the cooperative. The firm also helped Green Worker address several tax, exempt organizations and securities issues arising in the course of the transaction.

The Simpson Thacher team included Sean Austin, John Ericson, Jamie Gamble, Jake Levy, Jennifer Reynoso, Tom Terbell and Steve Todrys.