Winston & Strawn has opened offices in Beijing and Shanghai. In Beijing, the firm has hired Ge Xiangyang away from Bakey & McKenzie to head up its new office. The Shanghai office is the result of the Chinese Justice Ministry’s approval of Winston & Strawn’s take over of two offices from the collapsed [...]
Continue reading...Tuesday, July 21, 2009
Washington State’s Perkins Coie, which cut 12 attorneys and 26 staff in April, has hired seven intellectual property attorneys away from Proskauer Rose. Proskauer Rose partners Colin Sandercock, Paul Booth, John Isacson and David Laub all worked together at Heller Ehrman before it dissolved. The join another 13 former Heller lawyers employed by Perkins Coie. They [...]
Continue reading...Tuesday, July 7, 2009
The estate of Heller Ehrman, the San Francisco-based law firm that imploded spectacularly in November 2008, may sue Washington DC’s Covington & Burling, which hired 14 ex-Heller partners last September. Heller contends that the partner defections contributed to the downfall of the firm, by causing banks to freeze firm accounts. The estate is suing Covington and [...]
Continue reading...Monday, April 27, 2009
Former employees of San Francisco’s defunct Heller Ehrman, which declared bankruptcy in December, are suing 179 former partners for $32 million. The suit alleges that the firm’s shareholders failed to give the legally required 60 days notice of layoffs. They seek accrued vacation, severance cash, and penalties under the WARN Act. The over 800 ex-employees are represented [...]
Continue reading...Saturday, March 14, 2009
A California appeals court ruling from 1984 that a firm can sue a departing partner for profits lost from open cases. Six partners who moved to Heller Ehrman from another dissolved firm, Brobeck, Phleger & Harrison, are facing a lawsuit from the Brobeck estate. The complaint filed this week seeks profits from unfinished Brobeck business. The ruling, [...]
Continue reading...Sunday, March 8, 2009
Dissolving Thacher Proffitt & Wood is pursuing its former first-year associates over money provided for bar expenses. The firm’s dissolution committee and bank are going after the former associates for repayment of salary advances issued last year to cover their bar and start up expenses. Omer “Jack” Williams, a former Thacher managing partner who chairs Thacher’s seven-member [...]
Continue reading...Friday, February 27, 2009
The Recorder takes a look at Cupertino, California intellectual property boutique Day Casebeer Madrid & Batchelder, which last fall cut seven associates, nearly 20% of the firm’s lawyers, and two staff. Today, the firm has 27 lawyers. According to [partner Rusty] Day, those laid off were given two months’ severance and their end-of-the-year bonus, which amounts [...]
Continue reading...Wednesday, February 25, 2009
Bankrupt law firm Heller Ehrman paid out more than $7 million to 35 departing or retiring partners in 2008. The departures led to the firm breaking a loan covenant and having its accounts frozen, which precipitated its collapse. The document also shows who Heller’s creditors could target as they seek to be paid through Heller’s bankruptcy. Creditors [...]
Continue reading...Thursday, February 19, 2009
Philadelphia’s Dechert has become the latest Am Law 100 firm to announce a decline in revenues and profits for 2008. Profits per equity partner fell by 9% to $2.14 million. Gross revenue dipped 2% to $816 million. The firm lost 30 attorneys in 2008, with a total of 892 lawyers. Revenue per lawyer rose slightly, hitting $915,000. [...]
Continue reading...Friday, February 13, 2009
Chicago’s Sidley Austin saw revenue grow by 7% in 2008, while profits increased 4%. The firm brought in $1.489 billion in revenue, up from $1.386 billion in 2007. Profits per equity partner reached $1.43 million. The firm’s overall head count grew from 1,651 to 1,702, with revenue per lawyer also growing from $840,000 to $875,000. Equity partners [...]
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Wednesday, November 18, 2009
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