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Clifford Chance Loses 50 Partners

Erik Even — Thu, 09 Jul 2009 19:05:41 +0000

According to sources, Clifford Chance has lost almost 50 partners since March of this year, most from New York City and the London headquarters office.

Eighteen partners have left the firm in London, and another 18 in New York. Twelve have jumped ship in Europe.

Clifford Chance is restructuring, and expects to lose 90 further partners, or 15%, between now and April 2010.

Last week, the firm reported that average profits per equity partner dropped 37% to £733,000 ($1.2 million) in the last fiscal year.

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

Dorsey & Whitney Cuts 55 Staffers Firmwide [Update]

Erik Even — Wed, 03 Jun 2009 16:10:41 +0000

Minneapolis, Minnesota-based Dorsey & Whitney has laid off 55 staff members, or 7% of the firm’s support staff.

Seven of the firm’s offices were targeted, but 38 of the layoffs were at the Minneapolis headquarters.

The firm saw flat revenues, with a small decrease in profits per partner, in 2008.

Dorsey & Whitney LLP is a large law firm, with close to 700 lawyers and 850 staff, located in 19 offices in the United States, Canada, Europe, and Asia.

UPDATE

The firm also this week implemented a 10% salary reduction for all associates. Contract lawyers are being asked to take a similar cut. This is on top of an existing salary freeze.

Harvey Simard Moves HQ to HK

Erik Even — Thu, 21 May 2009 18:57:41 +0000

Montréal, Quebec’s Harvey Simard Law Corporation has moved its headquarters to Hong Kong, and brought on Gaston Bruneau to head its Business Law Section there.

The firm has operated in East Asia for 15 years, and is a Registered Foreign Law Firm in the Law Society of Hong Kong.

Founded in 1995, Harvey Simard is a Canadian business and business-immigration law firm. It has offices in Hong Kong, Montreal, Beijing, and Ho Chi Minh City.

Dreier Firm Faces Eviction

Erik Even — Mon, 23 Feb 2009 17:16:21 +0000

Save for a skeleton staff authorized to wind up the affairs of the now-bankrupt Dreier LLP, attorneys remaining at the firm’s midtown Manhattan offices must leave the premises by March 4th.

If the offices are not vacated by the agreed-upon date, the landlord, Hines 499 Park LLC, may “with the assistance of the United States Marshal” evict “all persons located within said premises.”

The agreement comes in the wake of an earlier motion by the landlord to compel the bankruptcy trustee to pay $2.1 million of “post-petition rent and other additional obligations under the Lease.”

Meanwhile, the firm’s founder and sole equity partner, Marc S. Dreier, who stands accused of defrauding investors of $400 million, remains under house arrest at his Lexington Avenue apartment, where he is being watched by private, armed security guards.