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Founder of Wachtell Lipton, Leonard M. Rosen, Passes Away

The founder of the Wachtell, Lipton Rosen & Katz law firm, Leonard M. Rosen, passed away at the age of 83 on Wednesday. The website for the law firm released the news, but did not provide any further details, according to Bloomberg.

“To say that he was universally admired would be an understatement,” said Gregory Milmoe, a partner in the restructuring practice at Skadden, Arps, Slate, Meagher & Flom LLP who has worked with Rosen. “The highest compliment that can be paid in the restructuring world is, ‘That’s the way Len would have done it.’”

Rosen formed the law firm with Martin Lipton, Herbert Wachtell and George Katz. They were all graduates of New York University School of Law. Rosen retired in 1997 from the firm. He was serving as counsel at the firm until his death.

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“Leonard created, and led, the firm’s creditors’ rights group,” Wachtell Lipton said in a statement about Rosen’s death. “He transformed it into one of the nation’s leading bankruptcy practices.”

“He masterfully forged an agreement among Chrysler and each of its more than 400 bank lenders, an agreement that enabled Chrysler to survive and prosper during a period in which its failure appeared imminent.”

Rosen was an adjunct professor at the NYU law school and was active in the Children’s Cause for Cancer Advocacy and the Lymphoma Research Foundation.

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