Stacy E. Kray

Stacy E. Kray

Counsel, Environmental; Climate Change

Stacy E. Kray has spearheaded Skadden’s environmental work on hundreds of transactions and multiple litigation and regulatory matters.


In recognition of her work, Ms. Kray has been named by the Silicon Valley Business Journal as one of its Women of Influence, an annual award honoring business leaders who are influencing their industry and community.

Transactional Experience

Ms. Kray’s transactional experience covers a wide range of clients, including chemical, plastics and biopharmaceutical manufacturers, aerospace and other industrial product manufacturers, traditional and alternative energy companies, computer hardware and chip manufacturers, forestry and mining companies, real estate investment trusts, and other manufacturing and commercial businesses.

On behalf of such clients, Ms. Kray has conducted and supervised due diligence investigations, drafted and negotiated contracts, supervised site assessments and investigations, managed remediation and permitting efforts, drafted regulatory disclosures and public comments, retained and managed environmental consultants, negotiated insurance policies, and managed contractual cleanup and remediation rights and obligations.

Significant transactions that Ms. Kray has handled include the representation of:

  • Permira Funds in its acquisition of Cabrex Corporation;
  • Huntsman Corporation and various affiliates in multiple acquisitions, including acquisitions of businesses from The Dow Chemical Company and Rohm and Haas Company, and in the formation of a joint venture with Imperial Chemical Industries PLC;
  • Morgan Stanley in connection with the IPO of China First Chemical Holdings Ltd.;
  • various underwriters in connection with public securities offerings by Novelis Corporation;
  • Cemex Corporation in connection with various public securities offerings;
  • Five Points Holding Company in connection with its IPO and other securities filings;
  • Devon Energy Corporation in its acquisition of 82,000 net acres in the Eagle Ford from GeoSouthern Energy for $6 billion;
  • the U.S. Department of Energy as guarantor of financing for a $1.24 billion utility scale solar project in connection with its loan guarantee program;
  • Scitex Vision Ltd. in the sale of its printing business to Hewlett Packard Company;
  • Freedom Communications in its sale of the Orange County Register and numerous other print and online newspaper publications to multiple buyers;
  • The Walt Disney Company in its $4 billion acquisition of Lucasfilm Ltd;
  • Castle Harlan, Inc., Lime Rock Partners and CHAMP Private Equity in the formation of Shelf Drilling, Ltd. and the acquisition by Shelf Drilling of a fleet of off-shore jack-up drilling rigs from Transocean Ltd.;
  • Castle Harlan, Inc. in various transactions, including its acquisition and subsequent sale of IDQ Holdings, Inc. (refrigerants);
  • ClearLight Partners LLC in its acquisitions of Gold Canyon Mining and Construction, LLC and Switchcraft Holdings Inc.;
  • the special committee of Caesars Acquisition Company in CAC’s $2 billion acquisition of four casinos in Las Vegas and New Orleans;
  • Crimson SV, LLC in the acquisition of Tyden Group, Inc. and Tyden Group in the acquisitions of E.J. Brooks Co., Inc. and Stoffel Holding Company;
  • GFI Energy Group of Oaktree Capital Management, L.P. in the acquisitions of Sheehan Pipeline Construction Company, Snelson Companies, Inc. and UtiliQuest Holdings Corp.;
  • Pierre Foods, Inc. in the acquisition of Advance Foods Company and Advance Brands; and
  • The News Corporation Limited and Fox Entertainment Group, Inc. in the purchase and subsequent sale of the Los Angeles Dodgers.

In the corporate finance area, Ms. Kray has represented issuers, underwriters and lenders in hundreds of transactions involving public and private offerings of debt and equity securities, including in offerings for chemical companies, petrochemical companies, timber companies, alternative energy companies, cement manufacturers, paper manufacturers, steel manufactures, landfill and waste disposal companies, biotech companies, real estate companies, health care companies and others. She writes and lectures frequently on issues relating to securities disclosures in the environmental law context.

Regulatory and Litigation Experience

Ms. Kray frequently counsels clients on a broad range of issues relating to regulatory compliance, environmental management systems and sustainability programs.

She also has significant experience representing clients in administrative and judicial proceedings, including responding to claims, conducting and managing discovery pre-trial and trial work, and negotiating settlements. Her work has included representing clients on threatened and pending claims related to contaminated properties, and threats to natural resources in connection with such contamination. Ms. Kray has significant experience with such matters in California, and is the co-author of the California chapter in the ABA’s Brownfields treatise, now in its third edition.

Notable representations include:

  • the successor to a chemical manufacturing company in connection with administrative and judicial proceedings relating to contamination of the Passaic River in New Jersey;
  • a publicly traded energy company in a fraudulent conveyance lawsuit relating to valuation of environmental liabilities;
  • the parent company of a chemical manufacturer in a $1 billion natural resource damages suit in California;
  • various manufacturing companies in connection with administrative, judicial and arbitration proceedings and environmental indemnity claims;
  • a redevelopment agency in suit involving contamination caused by historic World War II-era shipyards;
  • a green energy company in regulatory and third-party claims relating to alleged groundwater contamination in coastal zone of California;
  • a gasoline retail chain in litigation relating to alleged underground storage tank violations; and
  • various property owners in connection with proceedings before the California Coastal Commission and other regulatory bodies.

Ms. Kray serves as pro bono coordinator of Skadden’s Palo Alto office and was one of the founders of its groundbreaking Impact Project, which educates teens about their rights and obligations relating to the use of social media.



  • J.D., Boalt Hall School of Law, University of California at Berkeley, (Editor, Ecology Law Quarterly)
  • B.A., Trinity University, (Phi Beta Kappa; Dean’s List)


  • California


  • Former Member, Steering Committee, Environmental Section of the Bar Association of San Francisco
  • Member, San Francisco Pro Bono Roundtable
  • Board Member, The Arc (the largest national community-based organization advocating for and providing services to people with intellectual and developmental disabilities and their families)
  • Former Board Member, San Francisco Chapter of the National Association of Recording Arts and Sciences (The Grammys)
  • Extern, Earthjustice

Stacy E. Kray

Counsel, Environmental; Climate Change