News & Events

ReBuilders Source Cooperative, a worker-owned cooperative in the South Bronx that Simpson Thacher helped to organize, was featured in The New York Times on Monday, April 21 on the occasion of its grand opening. A link to the article is below:

Citywide:  Greening the Bronx, One Castoff at a Time

ReBuilders Source is the first cooperative established by Simpson Thacher pro bono client Green Worker, Inc., a non-profit organization dedicated to developing sustainable worker cooperatives in the South Bronx. ReBuilders Source has four initial members and collects, refurbishes and resells used building materials to contractors and retail buyers in the New York City area.

Simpson Thacher advised Green Worker 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.