JD Journal » Bingham McCutchen

Four Law Firms Named to Fortune ‘Best Places to Work List’

jim — Sat, 21 Jan 2012 03:52:20 +0000

Fortune releases its list of the 100 Best Companies to Work For each year in the month of January. Just like the past couple of years, law firms have made the list in 2012, which features Google, DreamWorks Animation, and Goldman Sachs to name a few.

Just like 2011, only four law firms made the 2012 list.

The four law firms that made this year’s list include the same four law firms that made last year’s list. This does not come as a surprise to most, but the firms did drop in rank this year compared to last year.

The law firm of Alston & Bird hit the list this year at #24 compared to #13 last year. Bingham McCutchen hit the list at #30 this year compared to #28 last year. Baker Donelson hit the list at #54 this year compared to #50 last year and Perkins Coie hit the list at #58 this year compared to #55 last year.

Even thought the law firms have dropped in rank, here is what Fortune had to say about working at each firm:

The staff at Baker Donelson is so appreciated by the firm that if they “were on the Titanic, managers would have dived in to save [them].” “Employees rave about the caring atmosphere at this Southern law firm.” The law firm made the list of no layoffs gallery and came in at number 24 on the best-paying companies list.

At the law firm of Perkins Coie, there are “happiness committees” that host parties on a regular basis. The firm was ranked at number four on the top-paying company list, as associates average over $189,000 per year. The firm also ranked on a top ten list for employing the most telecommuters. The firm says that 45 percent are relegated as regular telecommuters.

At Bingham, Fortune said that the firm is in short supply of “prima donnas and malicious jerks.” Bingham made it onto a list of 25 top-paying companies, coming it at number two, as associates average over $228,000 per year in salary.

At the law firm of Alston & Bird, Fortune did not even provide an interesting description as to why the firm made the list. The firm also appeared at number three on a list of top-paying companies. Associates at the firm average a salary of $201,233. The firm was also named to an unusual perks list because it offers subsidized Spanish classes.

All four firms on the list offer domestic partner benefits for same-sex couples and employ nondiscrimination policies against sexual orientation.

Willkie Farr & Gallagher Adds Two Partners to Private Equity Practice

rebneely — Thu, 20 Oct 2011 08:00:56 +0000

In recent days, Willkie Farr & Gallagher LLP announced that Neil W. Townsend and David B. Cosgrove joined the firm as partners.

Townsend and Cosgrove will practice in the Corporate and Financial Services Department and Private Equity Practice Group in the New York office.

Willkie Co-Chairman Steven Gartner was quoted as saying in a press release at the firm’s website: “The firm continues to enjoy a very successful expansion of our private equity practice. The addition of top talent such as Neil and David helps further our leading position in this area.”

Neil Townsend was quoted as saying in the same press release: “We were drawn to Willkie by the strength and sophistication of their platform, and by their great history, representing buyout funds in the competitive New York and global markets. We are very excited to get started.”

Both Townsend and Cosgrove were formerly partners in Bingham McCutchen’s Private Equity Practice Group. Each represents private equity funds and other financial sponsors and hedge funds in the structuring, negotiation, financing, implementation and restructuring of leveraged buyouts and other investments. In addition, they represent public and private companies in strategic acquisitions, dispositions and securities transactions, as well as in a wide variety of joint venture, capital raising and restructuring transactions.

Founded over 120 years ago, Willkie Farr & Gallagher LLP was on principles that still distinguish the practice today, including integrity, innovation, pragmatism, flexibility and intellectual agility. These principles enable the firm to constantly meet the dynamic business needs of clients.

Willkie has over 630 attorneys in addition to support staff across eight offices in the U.S. and Europe, including New York, Washington, Paris, London, Milan, Rome, Frankfurt and Brussels. Our practice is globally integrated, yet it enables international offices to function independently in order to deliver the most appropriate localized legal services to our clients—from the Fortune 500 to the pro bono community causes we regularly represent.

The firm’s corporate transactional attorneys have access to expertise in a wide variety of areas including tax, regulatory, real estate, antitrust, bankruptcy, intellectual property, ERISA, litigation and environmental matters.

The firm’s Corporate and Financial Services Department offers clients high-quality services that cover all aspects of corporate and financial transactions, including purchasing and selling businesses and companies, raising capital, and implementing other corporate and commercial transactions. The firm is able to offer these services by combining specialized practice groups with general practitioners who have a broad perspective of business and legal matters.

Willkie’s Corporate Practice covers all facets of private equity transactional activities including mergers and acquisitions, direct equity investments, PIPEs, debt (bank, high yield and mezzanine) finance, dispositions, restructurings, recapitalizations, “club” deals, joint ventures and management compensation issues.

Recognized in the 2010 editions of Chambers USA, Chambers Europe and Chambers Global as having one of the leading private equity transactional practices in the United States and Europe, Willkie is regularly recognized as being among the foremost private equity deal counsel both domestically and internationally.

Bingham McCutchen to Pay Almost $2 Million to Legal Recruiter in Lawsuit

EmploymentCrossing — Fri, 20 May 2011 20:58:57 +0000

Alan Miles, a legal recruiter, has successfully sued the law firm Bingham McCutchen and will receive almost $1.9 Million. Miles filed his complaint because he felt he deserved a fee for setting up a meeting which resulted in Bingham McCutchen aquiring the law firm McKee Nelson. The arbitrator sided with Alan Miles, awarding the $1.5 Million fee plus interest and costs. Bingham McCutchen is a large firm, and so is expected to have no difficulty paying the money.

Read the full article here:

Lawsuit of the Day: Bingham Must Pay Millions to Legal Recruiter

Bingham McCutchen had Record High Numbers in 2010

joshua — Thu, 03 Feb 2011 22:16:37 +0000

In another sign that the legal economy is once again growing, Bingham McCutchen is reporting record breaking numbers for 2010. Gross revenue went up 2% to $873 million and profits per equity partner jumped 12%, up to $1.62 million. Unlike many firms whose increased profits are due in part to decereased headcount, Bingham’s numbers are attributable to an aggressive expansion plan that included the acquisition of a 120 lawyer tax firm in Washington DC and the opening of the firms second European office in Frankfurt.

Jones Day Continues California Expansion

joshua — Wed, 04 Aug 2010 19:57:40 +0000

Jones Day announced it has bolstered its California offices with a pair of lateral hires. Cynthia Cwik, formerly of Latham & Watkins, joins the firm’s product liability and tort litigation practice in San Diego and Craig Mordock, formerly of Bingham McCutchen, joins the firm’s mergers & acquisitions practice in Irvine.

“The addition of these talented and experienced lawyers…will strengthen the experience available to our clients in the key areas of product liability litigation and corporate law,” said Joe Sims, the Jones Day partner responsible for coordinating the firm’s activities in California. “We’re pleased that our California offices are attracting some of the top lawyers in the state right now and we will continue to recruit this kind of high-level talent as we build on our significant presence here.”

The news comes on the heels of an announcement just last month that Khoa D. Do and Micheal J. Reagan, formerly partners at DLA Piper, joined Jones Day as partners in the Firm’s Silicon Valley Office, where they are both members of the Mergers & Acquisitions Practice.

Cwik has extensive experience in complex litigation and class actions, including mass tort and product liability cases, consumer class actions, and environmental cases. She is co-chair of the ABA Committee on Scientific Evidence, and has significant experience in cases involving health, science, and technology issues, with victories in several high-profile matters.

Mordock maintains a corporate and securities practice, with special emphasis on securities offerings, corporate governance, and mergers and acquisitions. His corporate finance experience ranges from representing venture capitalists and start-up companies in early-stage financings to representing issuers and investment banks in public offerings of equity and debt securities.

Jones Day is a global law firm with more than 2,500 lawyers, including over 400 in Europe and 200 in Asia, located in 32 centers of business and finance throughout the world.

Morning Roundup

sara — Tue, 13 Apr 2010 14:02:20 +0000

Good morning everyone! Today is Tuesday, April 13, and here’s a look back at yesterday’s headlines…

Revenue is down but profits are up at Stevens & Lee…

Ruden McClosky struggles in the economic downturn…

Former head of enforcement at the Financial Industry Regulatory Authority Susan Merrill joins Bingham McCutchen as a partner…

Joseph F. Speelman joins Blank Rome as a partner in the products liability, mass torts and insurance group…

Clifford Chance alters it’s associate bonus program…

Revenue is down and profits are up at Sutherland…

Former FINRA Enforcement Chief Joins Bingham McCutchen

joshua — Mon, 12 Apr 2010 17:07:24 +0000

Bingham McCutchen has added a new partner to its New York office: Susan Merrill, the former head of enforcement at the Financial Industry Regulatory Authority (FINRA).

Merrill will be joining the firm’s broker-dealer group this week, according to a press release. In the role, Merrill will lead Bingham’s enforcement practice and will advise financial industry clients on regulatory and enforcement matters.

While serving as FINRA’s executive vice president and chief of enforcement, Merrill was responsible for investigating and prosecuting violations of federal securities laws and FINRA rules governing securities firms.

“Susan is a recognized leader in the securities field,” said Bingham Chairman Jay S. Zimmerman. “Her arrival to Bingham exemplifies our investment and commitment to building the strongest securities team and advising clients in the most complex matters, nationally and globally.”

Bingham’s broker-dealer group is made up of 75 lawyers. Overall, the firm has 1,100 lawyers in 12 locations in the United States, United Kingdom and Asia.

Morning Roundup

sara — Thu, 18 Mar 2010 11:56:26 +0000

Good morning! Today is Thursday, March 18, and here’ a quick look back at yesterday’s news…

Polsinelli Shughart announces plans to acquire Hendren Andrae…

Fox Rothschild expands their West Palm Beach office…

Fish & Richardson pick up five lawyers from Darby…

Former Apple general counsel Daniel Cooperman returns to Bingham McCutchen…

Former Homeland Security deputy general counsel Jason Klitenic joins Holland & Knight…

Hawaiian officials consider a bill to ignore repeated and “vexatious” requests for President Obama’s birth certificate…

Former Apple General Counsel Returns to Bingham

joshua — Wed, 17 Mar 2010 16:37:14 +0000

Former Apple and Oracle general counsel Daniel Cooperman is rejoining Bingham McCutchen’s Silicon Valley office. Cooperman previously served as managing partner of the firm’s San Jose office (then known as McCutchen Doyle Brown & Enersen) before leaving to be in-house counsel at Oracle.

The Wall Street Journal Digits blog reports Cooperman intends to focus on “corporate and transactional matters,” but his main job will be educating the firm on the pressures that face general counsels of major corporations. He told the blog the speed and urgency associated with corporate operations is “really just crazy.”

“They move from one matter to the next in alarming, breathtaking speed. You don’t have a great deal of mindshare,” Cooperman said.

Cooperman expects to represent multinational corporations and private companies in merger and acquisition deals. He added he hopes to help the firm “better anticipate its client’s needs.”

Between Apple and Oracle, Cooperman spent 13 years as a general counsel. When he left Apple in September, the company said he was retiring, but Cooperman indicated he simply needed a break from the high-intensity position.

“It’s an extreme amount of responsibility and accountability and you need to be available fully 24 hours a day. After all that time, I really wanted a bit of sabbatical,” he said.

Bingham McCutchen employs 1,100 lawyers worldwide with offices in 14 locations in the U.S., U.K. and Asia.

Morning Roundup

sara — Fri, 05 Feb 2010 12:44:23 +0000

Good morning everyone! Today is Friday, February 5, and here’s a quick look back at yesterday’s headlines.

Tycko & Zavareei filed a class action suit against Fifth Third Bank…

Pillsbury gave raises (sort of) and bonuses…

Gardere Wynne added four attorneys to their roster…

Morrison & Foerster hired Joe Calve as their Chief Marketing Officer…

Danna McKitrick attorney Ruth Binger was named a Top Small Business Lawyer by the St. Louis Small Business Monthly…

Revenues and profits were up at Bingham McCutchen…

Thor Hearne, a former national election counsel in the Bush administration, joined Arent Fox…

Littler Mendelson welcomed 4 new shareholders to the firm…

Neil Upton joined Greenberg Traurig to head its UK Energy Practice…

The former director of Michigan’s Department of Environmental Quality joined Foley & Lardner…

Mintz Levin gave incoming associates the option to defer their starting employment date…

Alston & Bird hired a contractor to explore the construction of a new office building…

Revenues and Profits up at Bingham McCutchen

joshua — Thu, 04 Feb 2010 22:28:28 +0000

For the 12th straight year, Bingham McCutchenreported an increase in both revenues and profits last year. Revenues, driven by the firm’s restructuring practice and acquisition of the securitization boutique McKee Nelson, were up 12% to $860 million. Per partner profits also rose a solid 2% to just short of $1.45 million.

Bingham McCutchen LLP offers a broad range of market-leading practices focused on global financial services firms and Fortune 100 companies. The firm has 1,100 lawyers in 14 locations in the U.S., U.K. and Asia.

Six Law Firms on Fortune’s List of Top 100 Places to Work

sara — Thu, 21 Jan 2010 15:28:06 +0000

On February 8 Fortune Magazine will release its list of top 100 places to work. Six law firms have made the list this year. Fortune surveyed a random sample of employees to learn attitudes about management credibility, job satisfaction and camaraderie. Two-thirds of each company’s score is based on employee response. The other third is based upon company’s responses to inquiries about pay, benefits, diversity and communication.

Bingham McCutchen is ranked number 12 on Fortune’s list. It was cited for its commitment to diversity. Retreats are held to bring together lawyers of color and openly gay and lesbian lawyers. Health insurance was amended in 2009 to cover additional benefits for transgender employees.

Alston & Bird, ranked at number 30, was noted for inviting all employees, from receptionists to legal secretaries, to attend monthly firm meetings marked by a review of a project.

Arnold & Porter at number 65 is noted for awarding bonuses between $450 and $15,000 to employees who make successful referrals.

At number 75 Perkins Coie represented both Obama for America, with 59 lawyers working on the campaign, and the Al Franken campaign, with 48 lawyers. It is one of 8 companies on the list to pay 100% of their employee’s health-care premiums.

Baker Donelson at number 77 is recognized for their commitment to diversity. 180 out of 540 lawyers are women and the number of minority lawyers has risen from 12 to 40.

Orrick, Herrington & Sutcliffe comes in at number 95. The firm asked incoming associates to defer their entry until the fall of 2010. In return these associates were placed in legal positions at non profit and government agencies and paid an honorarium of $60,000 and a $15,000 bar stipend. 56% of incoming lawyers agreed to this deferment.

Worenklein Will Step Down from Ormat’s Board of Directors March 31, 2010

joshua — Wed, 20 Jan 2010 11:34:23 +0000

As a result of his joining the law firm of Bingham McCutchen LLP as partner, Mr. Jacob J. Worenklein, a member of Ormat Technologies, Inc.’s Board of Directors and Audit Committee since November 2004, will step down from the Board on March 31, 2010. Bingham McCutchen’s policy prevents its partners from serving as directors of public companies.

Regarding Worenklein’s resignation, Lucien Bronicki, Chairman of Ormat Technologies, said, “Jay Worenklein has been a dedicated and valuable member of Ormat’s Board. On behalf of everyone at Ormat, I would like to thank him for all of his work and past contributions to the Company, and wish him success in his new position as Partner in the Bingham firm.”

Bingham McCutchen LLP offers a broad range of market-leading practices focused on global financial services firms and Fortune 100 companies. The firm has 1,100 lawyers in 12 locations in the U.S., U.K. and Asia.

A Look at the Backend of the Intel/AMD Fight

joshua — Fri, 13 Nov 2009 20:03:56 +0000

When giants like Intel and AMD go to war, its often the law firms that come out on top. Here’s a quick rundown of the firms involved in the fight, now that a settlement has been reached.

AMD was primarily represented by O’Melveny & Myers, both here and in the EU.

Intel had a host of firms handling different parts of the fight. Gibson Dunn had Intel’s business for the Deleware case while Skadden had the lead in the EU. Howrey was involved in suing the insurance company for coverage of Gibson Dunn’s bills for the defense. Bingham McCutchen was lead counself for Intel on multiple class action suits and co-cousnsel with Gibson Dunn in Deleware.

The big loser now that the two companies have come to terms will be O’Melveny, who will lose its top client once the dust has settled. Gibson Dunn and Skadden won’t have the same issue, since federal regulators are still sniffing about for a fight and any state or federal cases brought forward aren’t affected by the settlement.

Bingham McCutchen + McKee Nelson Merger Complete

Erik Even — Tue, 04 Aug 2009 17:09:36 +0000

We reported last month that Bingham McCutchen would merge with McKee Nelson, and operate under the Bingham McCutchen name.

This week, the merger was completed. The deal has added 120 McKee lawyers to Bingham’s Washington DC and New York offices. The combined firm now employs 1,100 lawyers nationally.

Former McKee CEO Reed Auerbach is now on Bingham’s management committee. McKee’s name partners, William McKee and William Nelson, now co-chair Bingham’s tax practice group.

Bingham McCutchen LLP is an international law firm with approximately 1,100 attorneys in 11 US offices and three international offices. It represents clients in corporate litigation, cross-border restructurings and insolvencies, financing and securities, government affairs and a wide variety of corporate and technology transactions.

Law Firm Hirings & Firings

Erik Even — Fri, 24 Jul 2009 17:19:48 +0000

Recent laterals and layoffs in the legal sector:

Gary Hnath (not a typo) joins Mayer Brown as a partner from Bingham McCutchen, in the intellectual property and government/global trade practice groups. He is a former senior trial attorney at the US International Trade Commission. His JD is from Harvard Law School.

William F. Johnson joins Fried Frank as a partner in its government investigations and regulatory counseling practice. He was previously chief of the securities and commodities fraud task force in the US Attorney’s Office for the Southern District of New York. He supervised the investigations in both US v. Bernard Madoff and US v. Marc Dreier. Johnson was also a senior counsel for the SEC. His JD is from the Washington College of Law at American University.

Robert Osborne rejoins Jenner & Block this September, from General Motors. He has been GM’s general counsel since September 2006. Osborne was a senior partner at Jenner, where he chaired its Corporate Department and was a member of the Management and Policy Committees, from 2002 until joining GM. Before that he was at Kirkland & Ellis. Osborne’s JD is from Harvard Law School, magna cum laude.

Law Firm Hirings & Firings

Erik Even — Sun, 19 Jul 2009 17:09:56 +0000

Recent laterals and layoffs in the legal sector:

Christopher Cox, the former Bush administration SEC head, joins Bingham McCutchen as a partner in Orange County, California. He will handle corporate law, mergers & acquisitions and securities, and will be a principal at the Bingham Consulting Group. His JD is from Harvard Law School.

Lisa Laukitis joins Jones Day from Kirkland & Ellis as a partner in the firm’s business restructuring and reorganization practice in New York. At Kirkland, she was a partner in the firm’s restructuring group. Her JD is from the University of Dayton School of Law.

Steven Mones joins Wilmington, Delaware-based personal injury firm Freibott Law. With 22 years experience, Mones has tried cases in virtually every Delaware court, and is admitted to the bar in both Delaware and Virginia. His JD is from Widener University School of Law (formerly Delaware Law School).

Bingham McCutchen to Merge with McKee Nelson

Erik Even — Mon, 06 Jul 2009 16:20:09 +0000

Bingham McCutchen will merge with McKee Nelson on August 1st, operating under the Bingham McCutchen name.

The new firm will have over $900 million in expected combined revenue, and more than 1,100 lawyers. McKee’s co-chief executive partner, Reed Auerbach, will serve on Bingham’s 12-person management committee.

McKee Nelson has offices in New York City and Washington DC. It employs 120 lawyers.

Bingham McCutchen LLP is an international law firm with approximately 1,000 attorneys in 11 US offices and three international offices. It represents clients in corporate litigation, cross-border restructurings and insolvencies, financing and securities, government affairs and a wide variety of corporate and technology transactions.

Morgan Lewis Brings on Team from Bingham McCutchen

Erik Even — Wed, 17 Jun 2009 19:45:30 +0000

Morgan Lewis has brought on five partners and six associates from Bingham McCutchen’s banking & leveraged finance group, including a former co-chair of the practice.

All 11 will join Morgan Lewis’ Boston-based Business and Finance Practice, which spans the United States, Europe, and Asia, with nearly 400 transactional lawyers who focus on a wide variety of areas, including finance, bankruptcy and restructuring, mergers and acquisitions, private equity, and capital markets.

Robert A. J. Barry joins as partner; he focuses his practice on the structuring and restructuring of domestic and international financing transactions. He received his JD from Villanova University School of Law in 1987.

Partner Jonathan K. Bernstein’s practice focuses on general corporate finance, including debt financing, structured financing, workouts, and bankruptcies across numerous industries, including energy, transportation, media, sports and numerous national and regional restaurant chains. He received his JD, cum laude, from the University of Pennsylvania Law School in 1987.

Sula R. Fiszman joins as partner; she represents financial institutions, private equity funds, and other companies in complex senior secured finance transactions, subordinated and second lien lending transactions, structured finance, workouts, and bankruptcies. She received her JD cum laude from Harvard Law School in 1984 and her MA from the University of Chicago in 1981.

Patner Matthew F. Furlon represents leading financial institutions and borrowers in a broad range of finance and business matters, including domestic and international debt, mezzanine and equity financing, debt restructurings, asset-based credit facilities, second lien credit facilities, acquisition finance and retail finance, and multinational credit facilities. He got his JD magna cum laude from Boston College Law School in 1994.

Sandra J. Vrejan joins as partner; she focuses her practice on a broad range of domestic and international commercial finance, secured transactions, and financial restructurings. She received her JD from Hofstra University School of Law in 1995.

Philadelphia-based Morgan, Lewis & Bockius LLP is a law firm that was founded as Morgan & Lewis in 1873. It has 1,400 lawyers in 22 offices worldwide.

Bingham McCutchen Defers Start Dates

Erik Even — Thu, 23 Apr 2009 21:13:35 +0000

Bingham McCutchen, which ousted 16 attorneys and 23 staff last month, has deferred its incoming associate class to January, 2010.

Deferred associates will receieve a standard $10,000 bar stipend and a $10,000 deferral stipend. They will also be offered a $10,000 salary advance.

Update: The Week in Layoffs, Final Edition

Erik Even — Sat, 07 Mar 2009 18:22:09 +0000

It was another disastrous week for law firm layoffs. Here are the totals:

Arent Fox: 13 attorneys, 15 staff

Bingham McCutchen: 16 attorneys, 23 staff

King & Spalding: 37 attorneys, 85 staff

Akin Gump: 47 attorneys, 57 staff

O’Melveny & Myers: 90 attorneys, 110 staff

Shearman & Sterling: 78 staff

Dewey & LeBeouf: 15 attorneys, 115 staff

Clifford Chance: 115 staff

Wiggin and Dana: 14 attorneys, 14 staff

Stinson Morrison Hecker: 30 staff

DLA Piper: 20 attorneys, 34 staff

Haynes and Boone: 2 attorneys, 1 staff

Pillsbury Winthrop: 55 attorneys, 100 staff

Orrick Herrington & Sutcliffe: 100 attorneys, 200 staff

The official JD Journal totals for this week:

409 attorneys, 977 staff

Yeah, that’s not good.

Know about any layoffs we haven’t reported? Send us a confidential tip!

Bingham McCutchen Cuts 16 Attorneys, 23 Staff

Erik Even — Thu, 05 Mar 2009 22:33:45 +0000

Bingham McCutchen announced layoffs today.

…we have conducted a reduction in force affecting 16 Corporate associates, counsel and of counsel (of our 1002 total lawyers) and 23 staff members (of our 1091 total staff members). This reduction comes following an extensive review of our utilization and reflects a determination that, while our staffing is well-aligned in three of our four practice areas (Financial Institutions, Securities and Litigation), the global business downturn is likely to continue to reduce demand in our Corporate practice for the foreseeable future. We have reassigned more than 10 of our Corporate associates to our very busy Financial Institutions and Securities practices, but unfortunately, we cannot redeploy all of the lawyers…

Those affected by this move have been informed and will be receiving severance packages.

…after today’s reduction, we feel confident that our staffing will be well aligned with the demand for our services.

ALSP Opens Los Angeles Chapter

Erik Even — Thu, 05 Mar 2009 02:31:48 +0000

Los Angeles recently became the host city for the newest regional chapter of the Association of Litigation Support Professionals (ALSP). ALSP’s mission is to establish global standards for the litigation support profession through collaboration, education and certification. The organization also focuses on further advancing the profession and contributing to the career development of professionals from around the world. Members of ALSP help attorneys, general counsel and government officials navigate the increasingly complex world of technology and law.

The newly established Chapter has formed a Steering Committee comprised of seasoned litigation support professionals to implement ALSP’s mission and drive chapter objectives. Committee members include: Steven Britton, Precision Discovery; Greg Chan, Bingham McCutchen LLP; Jonathan Land, Quinn Emanuel Urquhart Oliver & Hedges LLP; Monica L. Moore, Sheppard Mullin Richter & Hampton LLP; and Robert Newcombe, O’Melveny & Myers LLP.

The chapter’s first meeting will be held on April 2 at the offices of Bingham McCutchen.

Many Firms Involved in LyondellBasell Bankruptcy Proceedings

Erik Even — Thu, 26 Feb 2009 05:06:16 +0000

In the wake of chemical giant LyondellBasell filing for Chaptel 11, several top firms in the United States and the United Kingdom find themselves involved.

Cadwalader Wickersham & Taft has secured a leading role for the company in the US, with financial restructuring group heads Deryck Palmer and John Rapisardi leading the team. In the UK, LyondellBasell has procured Clifford Chance for advice. That team is led by the head of restructuring, Mark Hyde.

Creditors involved in the case, both in the US and the UK, have secured firms such as Freshfields Bruckhaus Deringer, Ashurst, Simmons & Simmons, Bingham McCutchen, Latham & Watkins and Milbank Tweed Hadley & McCloy.

Lyondell Chemical, the company’s US arm, filed for Chapter 11 in January. It did not include most of the groups operations in Europe. The decision was made to avoid having the company’s European assets liquidated.

Ashurst head of restructuring Nick Angel said: “As a generalization, an insolvency process almost anywhere in the world is to be avoided because it damages value. This is especially true where you have the prospect of different insolvency processes in different countries but it is less true for the US, where Chapter 11 processes are more readily accepted.

“What has happened here illustrates the difficulty in dealing with international groups because Chapter 11 will not be recognized throughout the world and there is no alternative worldwide process for insolvency.”

Bingham McCutchen’s London Office Sees Increase in Profit

todd — Tue, 03 Feb 2009 19:04:53 +0000

US firm Bingham McCutchen’s London office has seen an increase in profit amidst a slight decrease in turnover.

The average profit per equity partner went up 7.4 percent, going from $1.75 million to $1.88 million. Turnover fell 4.6 percent, going from $32.5 million to $31 million.

James Roome, the London managing partner at Bingham McCutchen, said, “Restructuring really kicked in towards the end of the year with things like home builders and the car manufacturers, but it is the range of work we do for financial investors that kept us going.”

The rise in profit per equity partner was partly due the fact that the firm went from 12 partners to 11. Litigation partner Neil Micklethwaite left the firm in August 2007 to launch a litigation/human rights outfit with Roger Gherson, who worked with Micklethwaite at Gouldens.

“We’re pretty cautious,” said Roome. “We’re now glad that we haven’t made some of the big investments that some other firms have.”

Bingham McCutchen is #1 on Fortune’s 25 Top-Paying Companies

Erik Even — Thu, 29 Jan 2009 18:42:08 +0000

Boston’s Bingham McCutchen is not only Fortune Magazine’s #1 top-paying company, it’s also on their 100 Best Places to Work.

For the second year in a row, this law firm is the top-paying Best Company to Work For. Lawyers fresh out of school get starting salaries of $160,000 a year, topped off with fat bonuses. (Non-attorneys are eligible for bonuses too.) Bingham, which prides itself on keeping pay scales “competitive at all times,” looked at compensation at other law firms in mid-2007 and immediately boosted pay a hefty 20%.

Bingham, which enjoyed a lengthy growth spurt fueled by a series of mergers, pulled in its horns a bit after the financial crunch hit last year. The firm laid off 2.5% of staff, offering severance ranging from four weeks’ to six months’ pay.

I’d check the rest of the list to see if there are more law firms, but it’s one of those idiotic, unnecessary “slide shows,” and I don’t have the time or patience.

The firm has been awarded similar accolades by the San Francisco Chronicle and Boston Business Journal.

Bingham Sees Increased Profits, Revenue — Credits Downsizing

Erik Even — Fri, 23 Jan 2009 22:11:20 +0000

Bingham McCutchen saw both revenue and profits rise in 2008, the firm reports.

Gross revenue for the Boston-based firm totaled $767 million in 2008, a 3.2% increase over 2007; profits per partner went up 6.4% to $1.42 million.

The firm reports a 5.5% increase in revenue per lawyer, to $950,000; and a 6.7% increase in compensation for all partners, to $960,000.

Firm Chairman Jay Zimmerman points to the firm’s reduced head count, down 2.2% in 2008, as an important factor that contributed to this increase. The reduction allowed lawyers to maintain a high level of work, he said.

Bingham made several significant lateral hires in the second half of the year, beefing up its securities, antitrust and restructuring practices. The additions include securities lawyer Geoffrey Aranow, most recently the managing partner of Heller Ehrman’s Washington, DC, office; as well as restructuring partner Jeffrey Sabin from Schulte Roth & Zabel. The firm also brought on three antitrust partners from Clifford Chance in November.

Bingham McCutchen LLP is an international law firm with approximately 1,000 attorneys in 11 US offices and three international offices^.It represents clients in corporate litigation, cross-border restructurings and insolvencies, financing and securities, government affairs and a wide variety of corporate and technology transactions.

The law firm was named 41st best company to work for in 2008 by Fortune.

Clifford Chance Names DiBari Managing Partner for DC

Erik Even — Wed, 17 Dec 2008 01:09:44 +0000

The partnership of London-based Clifford Chance has elected David DiBari, a partner in the firm’s litigation group, to managing partner of the firm’s 52-lawyer Washington, DC office.

DiBari replaces Leiv Blad, after Blad left in November for Boston’s Bingham McCutchen. Along with Blad, two other Clifford lawyers — Boyd Cloern, and Jon Roellke — also left Clifford Chance for Bingham’s DC office.

Since Blad left the firm, Clifford’s regional managing partner Craig Medwick has assumed the responsibilities of both the New York and Washington offices.

Clifford Chance LLP is the largest law firm in the world, both by number of lawyers and revenue, and a component of the UK’s “Magic Circle” of leading law firms. It is a prestigious international practice with its principal office at Canary Wharf in London.