JD Journal » The American Lawyer

Squire Sanders Combines with Western Australia’s Oldest Law Firm, Minter Ellison

rebneely — Fri, 30 Sep 2011 13:08:05 +0000

The law firm of Squire, Sanders & Dempsey will combine with the one of Western Australia’s oldest and most progressive law firms, on October 1st, Minter Ellison.

This is the firm’s second major expansion this year, and the combination greatly increases Squire Sanders’ presence in the quickly growing Asia Pacific market.

With the combination of the firms, Squire Sanders will have over 1,300 lawyers in 36 offices and 17 countries. This includes the eighty plus attorneys from Minter Ellison, as well as the 500 plus attorneys in Europe who joined Squire Sanders via the January 2011 combination with former United Kingdom firm Hammonds.

As ranked by The American Lawyer’s Global 100, the combined global legal practice is among the top 20 by headcount, as well as one of the 15 largest US-based legal practices, per the National Law Journal’s NLJ 250, according to a press release at the firm’s website. And, with anticipated revenue of $725 million, the combined practice will be among the top firms ranked in Legal Business’ Global 100.

James J. Maiwurm, Squire Sanders chair and chief executive officer, was quoted as saying: “Our growth is guided by our clients’ evolving business needs. We gauge success by our clients’ enthusiasm and interest in legal services that provide more value on a global scale.”

Maiwurm explained that attorneys in Tokyo and Washington D.C. recently worked with Western Australian lawyers on a client’s energy project. As well, Western Australian lawyers collaborated with the London office to provide advice to a global company doing business in Australia.

Perth managing partner John Poulsen was quoted as saying: “Our clients very quickly sized up the benefits to be had by working with an established cost-effective Western Australia firm that now has global reach. I am very pleased by our clients’ overwhelmingly positive reaction.”

James Maiwurm has over three decades of experience as a business and transactional lawyer. He focuses his practice on the representation of a diverse range of businesses, from technology startups to Fortune 50 manufacturers, in private equity infusions, public offerings and sophisticated domestic and international acquisitions, dispositions, financings and joint ventures.

Maiwurm’s wealth of experience includes implementing turnaround initiatives, dealing with clients all over the world, negotiating and managing major asset dispositions, orchestrating debt restructurings, and building relationships with bondholders, stockholders, joint venture partners, employees and customers. As well as being active in a variety of community organizations, he has served on the boards of a variety of companies, and is listed in Who’s Who in America, as well as several other Who’s Who directories.

John Poulsen is the Managing Partner of Minter Ellison’s Perth office. He has played a significant role in improving the consistency and quality of service provided by the Perth team. Under his leadership, staff engagement has increased, and turnover has decreased. This has served to improve client relationships and quality of service, and contributed to the overall growth of the firm. John has been recognized as one of Western Australia’s leading finance lawyers and acted for leading financiers including the four major banks, Macquarie Bank, Babcock & Brown, St. George and Rabobank.

Founded in 1890 in Cleveland, Ohio, global law firm Squire, Sanders & Dempsey has 36 offices in 16 countries.

Minter Ellison has been ranked the largest Australian-based international law firm, with offices in 14 cities and five countries.

Turn Out The Lights…

joshua — Thu, 10 Mar 2011 15:32:48 +0000

It’s official. After months of bleeding partners and rumors about dissolution, the partnership of Howrey has voted to dissolve the firm, effective March 15. According to a press release issued by the firm, a number of partners, associates and staff from the Houston office will join Winston & Strawn, while those with significant client conflicts will be moving to other AM100 firms.

One things for certain: wherever they end up, they’re likely to find old friends. In the last year, over 140 partners have left Howrey for other firms, not to mention large numbers of associates and staff. As they say at Dodger Stadium, you can’t know the players without a scorecard, and The American Lawyer has prepared a handy chart for those interested in tracking the former Howrey partners.

Even a major law firm needs lawyers when it shuts its doors, and Howrey is no exception. The firm will be advised during the final days by counsel from Latham & Watkins.

Cochair and Two other Partners of Howrey’s Litigation Join Sidley Austin

marvins — Fri, 17 Dec 2010 01:14:18 +0000

The Cochair of Howrey LLP’s litigation practice plus two other litigation partners from its New York office will retreat from the firm to join Sidley Austin LLP, an international business law firm. The Am Law Daily reported that Gary Bendinger, the cochair of Howrey’s litigation field, is set to transfer to Sidley Austin along with Gregory Ballard and Kevin Burke. The three lawyers are said to be a big addition to Sidley Austin given their extensive knowledge and experience when it comes to liability litigation.

Charles “Chuck” Douglas, a Sidley litigation partner and chair of the firm’s executive committee, confirmed the addition of the three partners in their firm. “Gary, Greg, and Kevin are each respected and experienced litigators who embrace the highest standards of client service. They will join our extremely active accountant’s liability practice and will enable us to significantly expand its scope in New York and throughout the world.”

Howrey has been injured by the recent economic downturn in the past years. In February, the firm let go 29 associates and 65 staff members followed by another cut of 32 staffers last month. In total, there have been 66 partners who left the firm since last winter. Julie Triedman, a senior reporter of The American Lawyer, noted “Since March, there has been an extraordinary exodus of partners, capped in mid-October by the departure of most of the vaunted European IP practice, including the firm’s Europe managing partner and 11 other partners.”

Morning Roundup

joshua — Tue, 12 Oct 2010 13:12:06 +0000

Good morning everyone! Today is Tuesday, October 12th. Here’s a quick look back at yesterday’s stories.

A top Polish banking & finance attorney joined Chadbourne & Parke’s Warsaw office as a partner…

Morris Polich’s Elizabeth England was appointed California Bar Section Chair…

Winston & Strawn’s Senior Chairman and former Illinois Gov. James R. Thompson, Jr. will receive The American Lawyer magazine’s 2010 “Lifetime Achievement”…

McDermott Will & Emery signed a letter of intent to occupy a New Washington D.C. Office…

Winston & Strawn’s ‘Big Jim’ Thompson to Receive Lifetime Achievement Award

joshua — Mon, 11 Oct 2010 16:22:59 +0000

Winston & Strawn LLP said in a press release Monday that Senior Chairman and former Illinois Gov. James R. Thompson, Jr. will receive The American Lawyer magazine’s 2010 “Lifetime Achievement” award on October 27 during the legal publisher’s annual “A-List Awards” dinner in New York.

The annual award is reserved for lawyers who have demonstrated “exemplary public service and outstanding professional success” during their extended careers.

“We are so proud of Jim putting his civic duty at the core of his life’s work,” said Winston & Strawn Chairman Dan K. Webb.

“Jim’s well-known example still inspires his colleagues,” agreed Thomas Fitzgerald, the firm’s Managing Partner. “We want to continue the legacy of his uncompromising ideals, in which the public welfare and clients always come first.”

Thompson, who has played an integral role in the firm’s global growth, served as Illinois’s governor for 14 years and longer than any other chief executive in the state’s history. Prior to this public leadership role, Thompson worked at the state prosecutor’s office in Cook County, Illinois, and the state attorney general’s office, where he argued more than 200 cases before the Illinois Supreme Court. He was appointed U.S. Attorney for the Northern District of Illinois in 1971, where he gained a national reputation for being tough on crime, while prosecuting several high profile public corruption cases against members of both parties.

First joining Winston & Strawn as a partner in 1975, Thompson was prompted to run for high office a year later because he “saw it as an opportunity to turn the state around.” During most of Thompson’s record-breaking four terms, the traditionally-partisan Illinois enjoyed a rare period of cooperation between political parties, economic growth, and a balanced budget.

Thompson’s public service record continued unabated after leaving the Governor’s Mansion in 1991 and rejoining Winston. Most notably, he served as Chairman of the Bush Intelligence Oversight Board during the 1990′s and later, as a member of the president’s National Commission on Terrorist Attacks Upon the United States, which held hearings in the wake of the September 11, 2001 terrorist attacks and made recommendations to Congress and the President that are still being implemented.

Thompson served as Winston & Strawn’s Chairman and CEO until 2006, when Webb ascended the firm’s top leadership post. Over the years, he has successfully managed to complete hundreds of cases and appeals in the state and federal courts. Thompson’s law practice continues to be extensive and focused on government relations, complex litigation, and corporate governance, as well as corporate investigations.

He is also Chairman of the Illinois Sports Facilities Authority and a member of the Illinois Supreme Court Historic Preservation Commission.

Winston & Strawn LLP is an international commercial law firm with 14 offices in America, Asia and Europe.

Morning Roundup

joshua — Thu, 23 Sep 2010 10:54:47 +0000

Good morning everyone! Today is Thursday, September 22nd. Here’s a quick look back at yesterday’s stories.

King & Spalding opened an office in Singapore…

The Best Lawyers in America gave Jones & Walker high rankings for the fourth year in a row…

Orrick, Herrington & Sutcliffe added two attorneys to its London office…

The American Lawyer, The Nationnew al Law Journal and Corporate Counsel will present the second annual “The Litigation Summit: The Business of Litigation” October 5-6, 2010…

O’Melveny & Myers formed a new integrated legal strategies practice…

Morning Roundup

joshua — Tue, 24 Aug 2010 12:59:06 +0000

Good morning everyon! Today is Tuesday, August 24th. Here’s a quick recap of yesterday’s stories.

The “Tax Lady’ Roni Deutch was slapped with a $34 million lawsuit for fraud by California Attorney General Jerry Brown…

Dickstein Shapiro added two partners, previously from Patton Boggs…

The American Lawyer publication Corporate Counsel announced the top coporate law firms…

McCarter & English named a new managing partner…

Wilson Sonsini Goodrich & Rosati added a partner, and expanded its Asia Practice…

Two principal members of Price Waicukauski & Riley were selected by peers for inclusion in The Best Lawyers in America…

Top Corporate Law Firms Announced

todd — Mon, 23 Aug 2010 20:06:35 +0000

American Lawyer publication Corporate Counsel has come out with its annual list of law firms representing the big shots in corporate America. The survey stuck to Fortune 100 companies as a marker for “corporate America.”

In general corporate law, the mentions were as follows: Cleary represented 12 Fortune 100 corporations, Davis Polk represented 11, Cravath represented 10, as did Simpson Thatcher.

In the field of intellectual property, Alston & Bird were mentioned 8 times, K&L 7 times, Baker Botts 6 times and Fish & Richardson were mentioned 6 times as well.

To aggregate the information for the list, Corporate Counsel used PACER, an electronic public access service of the United States federal court documents, public filings, the Corporate Scorecard, and the Patent and Trademark office.

Marketing Heavyweights Set for Harvard Club Forum

joshua — Mon, 19 Apr 2010 16:55:36 +0000

The chief marketing officers of DLA Piper, Greenberg Traurig and Morrison & Foerster are slated to serve as co-chairs of a law firm marketing and business development forum to be held at the Harvard Club in New York City on March 11 and 12.

Sponsored by The American Lawyer, roundtable discussion is dubbed the “Law Firm Marketing & Business Development Leadership Forum: Next Level Legal Marketing for 2010 and Beyond. According to a press release, the forum will offer a wide variety of panel discussion sessions featuring leading law firm marketers, industry marketing consultants and law firm managing partners.

The three CMO’s slated to attend are Joe Calve of Morrison & Foerster, Jolene M. Overbeck of DLA Piper and Bob Robertson of Greenberg Traurig.

Calve joined MoFo as CMO in February. Previously CMO at Proskauer Rose, Calve oversees marketing and business development efforts at MoFo. Overbeck was named global chief marketing officer at DLA Piper in 2007. Previously CMO at Latham & Watkins, Overbeck oversees all aspects of DLA Piper’s marketing and business development efforts worldwide. Robertson has been CMO at Greenberg Traurig since 2009. He previously served as director of business development at Haynes & Boone.

The complete conference agenda and registration details are available at www.americanlawyer.com/business.

Report: Lateral Moves Reach Record Highs in ’09

joshua — Mon, 01 Feb 2010 18:03:23 +0000

Lateral partner moves in biglaw reached an all-time high in 2009, according to The American Lawyer’s annual Lateral Report. In the 12 months ending Sept. 30, 2,775 partners left or joined the biggest firms in the country, which is a 10.6 percent increase over the previous year.

“This was and will continue to be both a buyer’s and a seller’s market,” the report reads. “Firms with cash and daring continue to shop for new talent. Partners with business and a sense of unease put themselves in play. That’s the bright side.

“The sad side is that some of the partners with their resumes on the street are being pushed out by their current firms. And a whole swath of partners moved last year because their firms died.”

According to the report, the global recession likely contributed to the increase in the lateral market. Some firms tried to upgrade their talent pool in what they considered a buyer’s market, “while others used the crisis as an opportunity to clean house at the partner level.”

Litigation partners topped the list with 17 percent of all lateral moves. Banking and finance lawyers accounted for 15 percent of the moves, followed by corporate attorneys (10 percent) and intellectual property attorneys (nine percent).

K&L Gates had the most lateral hires for the second year in a row, while Sonnenschein posted the largest percentage of partner departures.

Gibson Dunn Named Best Litigation Firm in U.S.

joshua — Wed, 06 Jan 2010 19:46:40 +0000

Gibson, Dunn & Crutcher LLP, a global law firm based in Los Angeles, was named the best litigation firm in the United States in this month’s issue of The American Lawyer Magazine.

“Time and again in 2008-09, blue-chip clients in desperate straits have turned to Gibson Dunn lawyers to get them out of trouble at every stage, from subpoena to summary judgment to U.S. Supreme Court final appeal,” the magazine said of Gibson Dunn.

Also noteworthy, according to the magazine’s editors, is that “Gibson Dunn has also been a top choice for law firms in need of their own rescue, particularly in malpractice litigation.”

Among the firms highlights last year were helping Dole Food Company end its costly battle with Nicaraguan plaintiffs and defeating employment class actions for Wal-Mart Stores Inc. and United Parcel Service Inc.

In addition to naming Gibson Dunn “Litigation Department of the Year,” The American Lawyer also selected the firm as one of two finalists in its Labor & Employment Competition.

Massive Defection at Dickstein Shapiro

joshua — Wed, 23 Dec 2009 19:59:03 +0000

Sources are reporting that anywhere from 12 to 15 lawyers are moving from Dickstein Shapiro to the neighboring office of Kasowitz, Benson, Torres & Friedman, including the managing partner of Dickstein Shapiro’s New York office, Robin Cohen. Cohen, who represents corporations in insurance claims, was named one of the 50 most influential female lawyers by the National Law Journal.

There is some disagreement among sources as to the exact number of defections or the timing on the move. According to The American Lawyer, Dickstein Shapiro is expected to try to convince the lawyers to stay.

Dickstein Shapiro LLP, founded in 1953, is a multi-service law firm with more than 400 attorneys in Washington, DC, New York, and Los Angeles.

Morning Roundup

joshua — Fri, 02 Oct 2009 16:06:54 +0000

Good morning one and all. Here’s a quick look back at yesterday’s news…

Schulte Roth has sent out offers to its summer associates…

McDermott Will & Emery picks up two well known faces…

The American Lawyer put out this years Global 100…

and Carlton Fields picks up four new lawyers…

The American Lawyer Global 100

joshua — Thu, 01 Oct 2009 16:28:13 +0000

The American Lawyer has published its Global 100 list for 2009. Even with the recession in full bloom, the top 100 law firms managed to increase revenues by two percent, but revenue per lawyer dropped by three percent.

In the category of number of lawyers, US firm Baker McKenzie topped the list with 3,949 attorneys in offices in 39 countries. 82% of Baker McKenzie’s lawyers work outside of the United States. The top UK firm, ranked number 2 overall, is Clifford Chance with 2,837 attorneys in 21 countries. Spain’s Garrigues ranks number 12 with 1,835 lawyers in 9 countries.

The top three firms for revenue are all from the UK with Linklaters coming out on top. Linklaters posted revenues of just over $2.4 billion. The highest ranked US country is Skadden at $2.2 billion, ranked 4th.

Wachtell, Lipton, Rosen & Katz posted the highest profits per partner at just over $4 million.

Hughes Hubbard Expands NY Bankruptcy Practice

Erik Even — Fri, 14 Aug 2009 17:51:36 +0000

Hughes Hubbard & Reed has expanded its bankruptcy practice in New York with two hires.

Kathryn Coleman joins from Gibson Dunn, where she was a partner. She represents Chapter 11 debtors in possession, creditors’ committees, secured lenders groups, acquirers of distressed assets in and out of bankruptcy court, and equity stakeholders in connection with troubled investments and portfolio companies.

Eric Fromme joins as counsel. He is a federal-court litigator and corporate reorganization lawyer.

Hughes Hubbard & Reed LLP, an international law firm based in New York, is ranked number one in New York and number two nationally on The American Lawyer’s A-List of the “top firms among the nation’s legal elite.” AmLaw also ranked the firm #4 in “Top Growth Firms” among the nation’s 200 largest firms over the last 10 years.

Survey: McKee Nelson Best for Handling Layoffs

Erik Even — Thu, 30 Jul 2009 16:59:01 +0000

Out of 92 firms surveyed, McKee Nelson did the best job of handling layoffs this year.

According to The American Lawyer, the top five firms for appropriately and compassionately handling layoffs were McKee, Nutter McClennen, Michael Best, Stradley Ronon, and Patton Boggs.

Associates at the firms surveys rated their employer for how well they handled the layoffs, and how they communicated the news.

Those deemed the worst were Winston & Strawn, White & Case, Dewey & LeBoeuf, Shearman & Sterling, and Sutherland Asbill.

AmLaw: The Coming Law Firm Hiring Crisis

Erik Even — Tue, 17 Feb 2009 17:58:45 +0000

The American Lawyer expects a “a paradigm-shifting, blood-in-the-suites, terror-on-the-campus hiring and retention crisis” in 2009.

If nothing changes, this fall the same law firms that recently laid off lawyers will start welcoming large groups of new lawyers, whom they will pay too well and for whom they will have too little work. If the layoffs were about saving money in a downturn, the new hires will overwhelm any savings and will signal that the firms regard the economic crisis as little more than a mild detour on the golden brick road.

I wish it were otherwise. But consider the current Conventional Wisdom: At law firms work (and profits) are down, attrition is far below average, law school graduates hired in an optimistic time are about to join firms awash in anxiety, and the conveyor belt that will bring still more eager and talented young lawyers aboard is about to start up again.

This does not seem to be a sustainable situation. If it’s not, it will, at a minimum, force law firms to make a harsh choice between the lawyers they already have on staff and the ones they’re about to welcome.

Via AmLaw.

Partners Deserting Akin Gump

Erik Even — Tue, 03 Feb 2009 21:55:56 +0000

The American Lawyer has been piecing together the evidence, and finds that Akin Gump Strauss Hauer & Feld has lost more partners than any other firm the site tracks.

From Above the Law:

Akin lost 17 percent of its partners to competitors, small firms, in-house positions, and government jobs. Some of those defections were anticipated–fallout from strategic shifts in the firm’s practice groups and management structure. But others were a surprise…

While losing 59 partners hasn’t been easy, [Bruce] McLean, who has been Akin’s chairman for the past 16 years, expects that the slimmed-down practice areas will pay off. In 2007 the firm saw profits per partner fall nearly 7 percent to slightly more than $1.2 million, putting it sixtieth on The Am Law 200 partner profit charts.

But in early January he predicted that profits per partner grew as much as 10 percent in 2008 as a result of the shake-up, “What we are seeing is a slimmed-down firm generating more profits,” says McLean. At least, that’s the plan.

Via ATL via AmLaw and The BLT.

Publisher of AmLaw, NLJ Lays Off 42 Workers

Erik Even — Mon, 02 Feb 2009 21:57:31 +0000

Incisive Media, publishers of various business-to-business magazines such as IT Week, Personal Computer World, and as relates to the legal profession, The American Lawyer and The National Law Journal, has announced layoffs.

From a press release:

As has been reported in trade outlets, Incisive Media eliminated 42 positions last week. These layoffs were distributed across positions in both business and news departments in the entire company’s North American units, which includes 31 legal and real estate publications, as well as our events group.

As you know, these are extremely difficult economic times for all media organizations and we deeply regret the loss of many valuable employees who have contributed much to Incisive. Unfortunately, every media company is facing issues similar to ours, as digital publishing rewrites the rules and economics of our business.

Via ATL.

Lateral Moves Are All the Rage

Erik Even — Sat, 31 Jan 2009 17:25:35 +0000

The WSJ Law Blog summarizes the findings in a report by The American Lawyer about the enormous rise in laterals over the last year. Overall, 2,509 partners moved laterally between Am Law 200 firms in 2008.

That’s a 4% increase over 2007, but doesn’t include year-end moves by refugees from Heller Ehrman, Thelen, and Thacher Profit.

At first blush, it makes no sense. Firms are firing lawyers and cutting costs at a record pace. And lateral partner hiring is a costly proposition. Typically, newbie partners take months of ramp-up time before they can turn a profit.

So what gives? How can there be so much hiring activity? Part of it can be chalked up to skittishness. Lawyers are scared of being one of the last on a sinking ship–and are eager to move to firms perceived strong enough to weather the storm. “Accidental laterals,” e.g., lawyers who have been pushed out of their firms, are also driving the spike in movement…

Is all of this partner movement good or bad for BigLaw? It’s good for the talent, allowing many partners to command big salary premiums on the open market. But it has also helped foster a cut-throat environment, with firms focused intensely on boosting profits so that they will be in the running for star partners.

From the WSJ comments:

It signals poor strategic planning and business acumen. We are looking at reactive, fear-based responses. This is in keeping with law firms hiring first year associates at $160k in the summer of 06 and firing them and others in the summer of 07. Executive Committees either need to go to Business School or hire CEOs with business and leadership training.

Via WSJ via AmLaw.

Obama Hires Am Law 100′s Top Legal Earners

Erik Even — Thu, 29 Jan 2009 17:46:54 +0000

The American Lawyer reports that new Obama administration appointees Eric Holder Jr., Jeh Johnson, Ronald Kirk and Tom Vilsack raked in the cash while working for Am Law 100 firms.

Holder, Obama’s nominee for attorney general, made $3.3 million at Covington & Burling last year… [he] stands to earn between $1 million and $5 million from Covington as part of a separation agreement with the firm. Holder also will receive a repayment of anywhere between $500,000 and $1 million from Covington’s capital account… If confirmed as AG, Holder’s annual salary would be $196,700…

…prospective Defense Department general counsel Jeh Johnson of Paul, Weiss, Rifkind, Wharton & Garrison, earned $2.6 million last year as a litigation partner at the firm. Like Holder, Johnson will receive severance of between $1 million and $5 million…

Obama’s nominee for U.S. trade representative, former… Vinson & Elkins partner Ronald Kirk, received $556,740 from his firm last year… the firm will pay him a $150,000 bonus and other accrued benefits, which… includes an outstanding $80,000 partnership share.

…Vilsack, who made partner at Dorsey & Whitney shortly before [becoming] Obama’s nominee for secretary of agriculture… earned $300,000 from his firm last year.

Looks like everyone’s going down a pay grade.

Read the complete story. Also here.

Venable Partner Recalls Landing in Hudson River

Erik Even — Fri, 23 Jan 2009 21:58:42 +0000

The American Lawyer has an interview with Venable partner James Hanks Jr., who was on board US Airways Flight 1549 when it landed in the Hudson River last Thursday.

The 65-year-old corporate partner works in the Baltimore office, and teaches at Cornell and Northwestern.

From the interview:

TAL: When did you realize on that flight that things had gone horribly wrong?

Hanks: About 90 seconds after takeoff there was this kind of small explosion or loud crack or snap — it seemed like a single sound — and then some smoke began to come into the aircraft.

TAL: I’d imagine that was a bit disconcerting.

Hanks: Right. That caused me to turn on the air above my seat. [The smoke] dissipated but more worrisome was the fact that there was no sound at all, which I knew meant that the engines had shut down.

Read the whole interview.

Cadwalader Profits Plummet 30% in 2008

Erik Even — Tue, 13 Jan 2009 21:52:14 +0000

The American Lawyer reports that America’s oldest law firm, Manhattan’s Cadwalader, Wickersham & Taft, saw its average profits per equity partner fall more than 30% in 2008.

Cadwalader’s equity partners will take home average profits of a mere $1.88 million, down from $2.73 million in 2007. Revenue fell to $506 million, down 13.8%.

Rumors abounded that profits per partner might fall 50%, so there may be sighs of relief coming from partners afraid they might have to switch to the cheaper domestic caviar.

In October, consulting firm Hildebrandt International said that firms with “significant capital markets practices” like Cadwalader would likely see average drops for partner profits of 5 to 15%, “with a few firms seeing even steeper declines.”

Orrick, Herrington & Sutcliffe saw profits per partner fell 21% to $1.315 million. Thacher Proffitt & Wood is in the process of dissolving because of what it said were “severe reductions in revenue.”

Am Law Announces Top Litigation Boutique of the Year: Bartlit Beck

Erik Even — Sat, 03 Jan 2009 23:35:48 +0000

Am Law has announced their Litigation Boutique of the Year Winner: Chicago’s Bartlit Beck Herman Palenchar & Scott LLP.

No hourly fees, no leverage, no laterals. And Bartlit Beck’s lawyers are always prepared to go to trial. The firm’s model is unique — and its results are, too

More than any of the other litigation boutiques we considered, Bartlit Beck stood out for the sheer breadth and magnitude of its trial work. In the last two years, its attorneys tried more than 15 cases to verdict in at least 10 states — and they prevailed in all but three. In areas as diverse as mass torts, securities, antitrust and intellectual property, the firm’s wins reverberated throughout the industries involved.

THE FINALISTS:
Gibbs & Bruns
Robbins, Russell, Englert, Orseck, Untereiner & Sauber
Zuckerman Spaeder

Via Law.com.

Thacher Proffitt Dissolves; Sonnenschein Rescues 100 [Update]

Erik Even — Mon, 22 Dec 2008 18:19:18 +0000

Chicago’s Sonnenschein Nath & Rosenthal has announced it will hire 100 lawyers (NYT says 40) away from New York CIty’s Thacher Proffitt & Wood.

Bailout talks with King & Spalding have collapsed, and Thacher Proffitt will dissolve today.

Founded in 1848, Thacher Proffitt’s clients included many of the biggest banks and investment banks, including Citigroup and UBS. In 2006, the firm was ranked among the top 200 by The American Lawyer. But It was one of the leading firms behind the creation of the sort of mortgage-backed securities that fueled the lending spree that has since backfired on the banks.

We will update this post as the situation evolves.

Via Above the Law and NYT.

UPDATE:

Confirmed by Law.com:

Sonnenschein, Nath & Rosenthal announced late Sunday that 100 lawyers, including 40 partners, from Thacher Proffitt & Wood will be joining the firm’s New York office, effective January 1. The hires increase Sonnenschein’s total headcount to about 800 lawyers, nearly doubling the size of its New York office…

Sonnenschein is drawing from all of Thacher’s existing practices, including structured finance (representing the largest number of additions, with 26 partners and of counsel), corporate, banking, real estate, regulatory and litigation.

Associates’ Bonuses Drop In Bad Year For Legal Biz

Erik Even — Tue, 16 Dec 2008 23:16:13 +0000

From The American Lawyer:

Want an early look at how law firms will end 2008? Check out their associate bonus memos.

Of the 14 firms whose memos have made it onto the blogosphere, all but one in some way refer to the economy or firm finances in explaining why bonuses are down this year….

Take Debevoise & Plimpton…. The memo its associates received Dec. 9 notes deal work in 2008 has dropped, suggesting the firm is bracing for weaker results.

…

Much of the bonus attention has focused on Skadden, Arps, Slate, Meagher & Flom and Cravath, Swaine & Moore, since they were the first two firms to pull the trigger on bonus announcements. … Skadden, diversified internationally, said of 2008, “the level of the firm’s business continues to be relatively strong, with our total workload, until very recently, being similar to 2007, our most successful year.”

“However, we have more attorneys to do this work, and therefore, our results aren’t as strong as they were last year,” the memo from executive partner Robert Sheehan said….

Cravath presiding partner Evan Chesler, in contrast, wrote that “the economic downturn has severely affected our clients,” who “are under strong pressure to cut costs dramatically.”

Link.