PROFESSIONALS
[] Scott C. Penwell
 
Shareholder
Corporate, Finance & Capital Markets
Captive Insurance Co-Chair

Harrisburg
717.255.7358
610.371.7938 fax
scp@stevenslee.com

Scott concentrates his practice in corporate, securities and captive insurance law. He is an experienced corporate and securities attorney and assists clients in transactions including debt and equity financing and mergers and acquisitions, as well as with securities law issues.

He also has significant experience assisting clients in both traditional and non-traditional insurance law matters, and has represented numerous captive and rent-a-captive insureds and reinsurers, primarily in Bermuda and the Cayman Islands.

Among his recent transactions are the formation of a Cayman Island domiciled captive insurance company to insure medical malpractice for a large Florida hospital and the $20,000,000 private placement of stock of an insurance holding company in the Cayman Islands, while allowing the company to maintain its non-controlled foreign corporation tax status.

A frequent speaker at seminars throughout the U.S. and internationally, Scott regularly discusses the legal issues surrounding the formation of captives and the alternative insurance market, along with other alternative risk management methods. 

Scott co-chaired the Insurance Law Practice Group of TerraLex, a network of 145 law firms representing all 50 states and 93 foreign countries. Published in the June 2005 issue of Philadelphia magazine, Scott was recognized as a 2005 Pennsylvania Super Lawyer by being selected by his peers among the top 5 percent of lawyers in the Commonwealth. He was also selected in 2004.

Education:
Temple University School of Law, J.D., 1981
Villanova University, M.A., 1976
Rutgers University, B.A., 1974

Bar Admissions:
Pennsylvania

Court Admissions:
U.S. District Court of the Eastern District of Pennsylvania

Selected Publications:

  • "The Rent-a-Captive Alternative." Risk Management Magazine, March 1999. Co-author.
  • "Captive Companies And Insurance Alternatives." Central Pennsylvania Business Journal, May 1998. Co-author.
  • Buying and Selling a Business, Pennsylvania Bar Institute's Desk Book, 4th Edition, 1997. Co-editor.
  • "Self-Insurance Pools Can Benefit Businesses," Central Pennsylvania Business Journal, May 30, 1994.
  • Pennsylvania Business Corporation Practice, A Lawyer's Manual with Forms, 2nd Edition, Pennsylvania Bar Institute, 1995.
  • "Securities Regulations - The Rapid and Secret Acquisition of Thirty-Four Percent of a Corporation's Stock from Thirty-Nine Shareholders Constituted a 'Tender Offer' Under Section 14(d) of the Securities Exchange Act of 1934 - Wellman v. Dickinson, 475 F.Supp. 783 (S.D.N.Y. 1979)," 53 TEMP.L.Q. 153 (1980).
  • "Decedent's Estates - Petition of Heir Contained Sufficient Allegations of Fraud to Toll Statute of Limitations for Appeal from Probate of Will - In Estate of Gallagher, 485 Pa. 62, 400 A.2d 1312 (1979)." 53 TEMP.L.Q. 761 (1980).

Professional Associations/Civic Affiliations:
Pennsylvania Bar Association, Member, Multijurisdictional Practice of Law Task Force; Immediate-past Chair, Business Law Section; Member, Steering Committee of Legal Opinion Drafting Group assigned to develop a Pennsylvania supplement to the American Bar Association's "Third-Party Legal Opinion Report"; Ad Hoc Commerce Court Committee
American Bar Association, Member, Committee on Legal Opinions
American Bar Foundation, Life Fellow
Dauphin County Bar Association
Pennsylvania Corporation Bureau, Attorney Advisory Committee
Pennsylvania Securities Commission, Attorney Advisory Committee
Eastern Insurance Group, Director
Legacy Bank, Director
Emerald Mutual Funds, Trustee
The Harrisburg Academy, Board of Trustees
Donegal School Board, Vice President
Mt. Joy Lions Club, President

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