JD Journal » Weil Gotshal & Manges

Pillsbury Winthrop Shaw Pittman Hire Three Bankruptcy Partners from Cadwalader

jim — Wed, 18 Jan 2012 19:31:03 +0000

The law firm of Pillsbury Winthrop Shaw Pittman announced that it has grabbed three bankruptcy partners from the firm of Cadwalader Wickersham & Taft. The group of three includes former financial restructuring co-chair Deryck Palmer of Cadwalader. The other two partners joining Palmer include Andrew Troop and Christopher Mirick. All three of the partners will be based in New York.

Palmer joined Cadwalader in March of 2007 from Weil Gotshal & Manges, a move that Palmer made along with Troop and Weil partners George Davis and John Rapisardi. Palmer became the co-chair of the law firm’s bankruptcy group alongside Bruce Zirinsky, who left the firm in June of 2009 for Greenburg Traurig.

Palmer served as one of the lead counsels for the U.S. Treasury in the restructuring of General Motors. He also represented the Detroit school system in its restructuring and was in charge of the team from Cadwalader that worked on the LyondellBasell Chemical bankruptcy case. During the Lyondell case, Cadwalader pulled in $90 million in legal fees and expenses. Palmer billed at $1,050 per hour, Troop billed at $850 an hour, and Mirick billed at $700 an hour.

James Rishwain, the chairman for Pillsbury, said that the firm has wanted to bolster its insolvency practice in New York for quite some time now. He said the group of partners “are an elite, dynamic group, and position us to compete to secure the most significant bankruptcy and insolvency matters that arise in the country.”

“It was a competitive landscape to get them,” he says. “They were highly pursued by many firms.”

Palmer claims that he was drawn to Pillsbury’s focus on real estate, health care, and energy matters.

“That’s not meant as a comparison to any other firm,” says Palmer. “Pillsbury is a firm that’s up and coming, and it’s exciting to be involved in a firm that’s growing and expanding its platform.”

“Apollo Health Street announced that they’ll be coming over [to Pillsbury],” he says. “I’m sure there will be others.”

In 2010, Cadwalader had average partner profits of $2.39 million compared to average partner profits of $1.05 million for Pillsbury in 2010. Palmer said that there is no concern with the money gap for him.

“If you’re looking at things long term, which I am, [Pillsbury] provides an exciting opportunity for me to do challenging work and to be compensated fairly.”

Palmer, Mirick, and Troop were wished well by a statement released by Cadwalader that also thanked them for their service. The firm appointed George Davis as co-chair of the financial restructuring group along with Palmer and Rapisardi two weeks ago, which was perhaps a pre-emptive strike to Palmer leaving.

“We have a huge focus on New York, and we’ve done a really solid job of positioning ourselves there,” says Rishwain. “I think we’ve elevated our group across all fronts.”

FDA Aims to Shut Down One Man Sperm Bank

rebneely — Fri, 23 Dec 2011 17:03:13 +0000

Tis’ the season for giving. And Trent Arsenault is taking that quite literally.

He is a one man ‘bank’ – a sperm bank, that is. He has a website that lists his education and employment information, as well as his hobbies. In addition, he gives his blood type, as well as medical information, including test results from his most recent sexually transmitted diseases screenings.

No, you didn’t stumble onto one of the lost Maury episodes.

That’s right. Arsenault has been on a charitable mission since 2006, and has been giving away his sperm for free, so as to spare those trying to conceive the exorbitant fees charged by traditional sperm banks.

Since he’s been in the giving mood, Arsenault has fathered fourteen children, and there are four more on the way. He executes written donor agreements with his recipients and delivers his sperm in what he says are sterile storage cups.

That’s all well and good, or is it? The U.S. Food and Drug Administration aims to shut him down, on the grounds that he’s breaking the law by ignoring agency regulations covering those who “manufacture” human cells or tissues. The FDA served him with an “order to cease manufacturing” in November 2010. Specifically, the FDA claims, Arsenault has failed to adequately meet its requirements related to testing donors for communicable diseases.

However, Arsenault is challenging the order and has filed with the agency seeking a hearing on the matter. He argues that his relationship to those to whom he gives his sperm is that of a “sexually intimate partner” and that his donations are therefore not subject to FDA regulations. The case is still under consideration by the FDA, and he is being represented pro bono in his petition by lawyers from Washington, D.C.–based nonprofit public interest group Cause of Action.

Amber Taylor, who joined Cause of Action as a senior attorney in June after three years as an associate at Weil, Gotshal & Manges, authored the group’s November 7 brief backing Arsenault’s petition seeking a hearing.

She was quoted as saying in the recent amlawdaily.com article: “We took up the Arsenault case because we saw it as an instance where the government was improperly applying some regulations, and stepping between two individuals who were trying to have a child. We’re a little concerned when the government is telling people what kind of relationships they have.”

FDA guidelines do not actually define sexually intimate partnerships. That, the Cause of Action brief notes, is evidence that such relationships are defined on an individual basis.

Cause of Action’s brief also seeks to counter a motion to deny Arsenault’s bid for a hearing that FDA staffers filed in February. The agency argues in the order that his sexually intimate partnership claim is merely “an attempt to skirt the law.” Taylor says an evidentiary hearing is necessary to determine whether or not Arsenault’s claim holds water.

Taylor, who spent two years as an associate at O’Melveny & Myers before joining Weil in 2008, says Cause of Action contacted Arsenault in October to offer its assistance.

Weil Gotshal & Manges Announce Bonus Increase

jim — Thu, 15 Dec 2011 22:20:18 +0000

As a response to other law firms topping the year-end bonuses that Weil Gotshal & Manges LLP announced they would hand out, the firm said it will bump the bonuses for eighth-year associates and above to $42,500, according to La360.

The original bonus scale set up by Weil, which was announced on Monday, ended at $37,500 for associates hired in 2003. Other senior associates would be given their bonuses on a case basis. Ever since Weil announced its bonuses, firms such as Debevoise & Plimpton LLP, Cleary Gottlieb Steen & Hamilton LLP, Simpson Thacher & Bartlett LLP and Sullivan & Cromwell LLP have handed out bonuses of $42,500 to their associates who were hired in 2003.

“In order to provide U.S. associate compensation commensurate with that paid at our peer firms, the management committee has decided to increase the overall strong bonus for the class of 2003 and more senior to $42,500,” Weil said in a memo to U.S.-based associates.

The firm also announced that the bonuses will still be paid on December 23. Weil is just another firm to announce bonuses of $42,500. Clifford Chance LLP announced their bonuses of $42,500 on Wednesday of this week.

“As we have done in the past, Akin Gump is matching the market bonus in [New York],” Akin Gump firm spokeswoman Kathryn Holmes Johnston said in a statement Wednesday. “For all other domestic offices, Akin Gump is awarding merit bonuses that will be determined in January and paid Feb. 15, 2012. A determination regarding spring bonuses will be made in 2012.”

The bonus scale sent in a memo to the associates of Weil Gotshal pretty much matches the bonus scale set by the firm of Cravath Swaine & Moore LLP last month. Their bonus scale almost directly matches the one they issued in 2010 to their associates. Ever since Cravath announced its bonuses, law firms have matched their bonus scale, while other firms have gone well above the scale set forth by Cravath.

Some experts in the field feel that the bonuses handed out by Weil Gotshal do not meet the firm’s increase in revenue this year. Instead, the bonuses sit at or near the ones handed out by the firm in 2010. The bonuses will be paid to associates on December 23. Also in the memo, the 2012 base salaries will take effect on the 13^th of January but will be retroactive to January 1. The memo also told associates that the bonuses will be subject to any pro-rations that are customary in the firm. The bottom tier for bonuses, associates hired in 2010, is worth $7,500.

Experts believe that more and more law firms across the country will be announcing their year-end bonuses within the coming week, especially as we creep closer towards 2012. The majority of law firm year-end bonuses issued this year have matched the Cravath scale but some of the more recent ones have gone past the Cravath scale.

Team of Weil Attorneys Help Wrongfully Imprisoned Man Win Increased Compensation

rebneely — Wed, 23 Nov 2011 12:28:00 +0000

A team of attorneys from international law firm Weil, Gotshal & Manges LLPA recently helped win increased compensation for an inmate who was wrongfully convicted of and imprisoned for a crime he did not commit. In granting a joint motion to dismiss, the Texas Supreme Court’s decision reflects an agreement reached late last month by the former inmate, Larry Charles Fuller, and the state, whereby Fuller will receive increased compensation for his wrongful imprisonment following a 2009 amendment to the Texas Wrongful Imprisonment Act.

Fuller had served nearly 20 years in prison of a sentence for an alleged rape before being exonerated by DNA evidence and receiving a full pardon from Texas Governor Rick Perry in 2007.

Under the provisions of the Texas Wrongful Imprisonment Act, Fuller received a lump-sum payment of approximately $1 million as compensation for his wrongful conviction and imprisonment. When the Act was amended in 2009 to provide for additional compensation and an annuity, Fuller filed applications seeking the newly created annuity, as well as the difference between what the new legislation provided and what he previously received.

While the Texas State Comptroller granted Fuller’s request for the newly created annuity, amounting to just over $11,500, his request for an additional lump-sum payment was denied on the grounds that it was barred by his previous application for lump-sum compensation under the old version of the Act and was an impermissible request for retroactive adjustment of his prior application.

Weil represented Fuller throughout these proceedings, and argued that the Act placed no limits on the number of independent requests for compensation, only on the amount of time (three years from the date of a pardon) within which an application for compensation must be made, and that Fuller’s application was made well within the relevant time period. Weil continued negotiating with the Comptroller on Fuller’s behalf and filed additional papers seeking reconsideration, but the Comptroller again denied Fuller’s request.

Weil filed a mandamus petition in the Texas Supreme Court, by statute the only means of review, challenging the Comptroller’s decision to deny Fuller the additional lump sum payment as a violation of her ministerial duty under the Act to compensate exonerees who demonstrate actual innocence through a pardon, a criterion that the Comptroller does not dispute as to Fuller. The Texas Supreme Court had scheduled oral argument for December 2011 on the issue of whether the Act permits successive applications within the three-year statutory window.

In recent weeks, the State Comptroller, represented by the Texas Solicitor General’s office, agreed that the Comptroller could make full payment to Fuller. On November 18, 2011, the Texas Supreme Court granted Fuller’s and the Comptroller’s joint motion to dismiss the mandamus petition, and Fuller has now received an additional lump sum payment of more than $750,000, the full compensation to which he is entitled under the law.

Weil litigation partners Yolanda Garcia and Yvette Ostolaza, both in the Dallas office, represented Fuller, pro bono. In addition, Appellate Litigation counsel Lisa Eskow, from the Houston office, and Litigation associates Daniel Klein, Cheves Ligon, Victoria Neave, Emmanuel Obi, Ricardo Pellafone and Mandisa Price, all from the Dallas office, worked on the case.

Weil, Gotshal & Manges is an international law firm headquartered in New York City, employing over 1,200 attorneys.

Weil, Gotshal & Manges Advises MF Global UK Ltd. on First Filing of Special Administration Regime Application

rebneely — Fri, 04 Nov 2011 08:00:01 +0000

International law firm Weil, Gotshal & Manges is advising MF Global UK Ltd., the UK arm of commodities and listed derivatives broker MF Global, on the very first filing in recent days of the UK’s Special Administration Regime application.

This application comes after the voluntary chapter 11 filings made by its parent company, MF Global Holdings Ltd., a Delaware company listed on the New York Stock Exchange, and MF Global Finance USA Inc., an intermediate holding company.

Adam Plainer is leading Weil’s restructuring team, and he is working with Martin Pascoe QC and Daniel Bayfield of 3-4 South Square. The team applied for an expedited appointment of KPMG partners Michael Pink, Richard Fleming, and Richard Heis as special administrators of MF Global UK. Coinciding with the request, Weil was appointed as legal advisers to the Joint Special Administrators.

The introduction of the Special Administration Regime (SAR) came after the collapse of Lehman Brothers. The SAR provides a framework for dealing with insolvent or failing investment banks. It puts forth as special objectives for the administrators to ensure the return of client assets as soon as practicable; to ensure timely engagement with market infrastructure bodies and the authorities; and either to rescue the firm as a going concern or wind it up in the best interests of the creditors. Until recent days, the SAR had never been initiated.

The Weil team on this UK-sourced instruction is being led by the head of restructuring in the firm’s London office, Adam Plainer, assisted by Mike Francies, Paul Bromfield, Dominic McCahill, Steven Ong, Linton Bloomberg, Will Needham, Jodie Dunlap, Rosy Villar, Helen Jones, David Elphinstone, Lorena Wong, and Lewis Blakey.

Adam Plainer was quoted as saying in a press release at Weil’s website: “This is a truly groundbreaking case as it is the first time the new Special Administration regime has been used. The Administrators will be working closely with the FSA who have extensive powers under the new legislation.”

Mike Francies was quoted as saying: “From the time of the first meeting with MF Global UK on Friday, morning, Adam and the team have worked round the clock to help MF Global to stabilize this challenging situation in the UK. The ability to work with the Company, KPMG, Counsel and the FSA to initiate the SAR’s first application against the clock and in the current market conditions cannot be underestimated. This is a huge achievement in difficult circumstances.”

MF Global Holdings has been at the forefront of the news in recent weeks, as has CEO Jon Corzine. According to the November 2^nd businessweek.com article, “MF Global’s Jon Corzine Runs Out of Luck”, Corzine’s career included nearly a quarter century at Goldman Sachs (GS). Less than two years after his appointment as chairman and chief executive officer, the company is bankrupt.

According to the same article, Wall Street embraced the appointment of Corzine; MF Global shares increased 15 percent the week his hiring was announced. Now, Occupy Wall Street has replaced the hoopla, along with MF Global’s nearly $200 million quarterly loss, and the disclosure of over $6 billion in bets on European government bonds.

Weil Gotshal’s Energy Head Going to Stephenson Harwood

EmploymentCrossing — Thu, 14 Jul 2011 17:18:14 +0000

The corporate practice of Stephenson Harwood in the fields of energy, food and drinks and financial sectors has been very exciting recently and to further develop the work from existing clients and also through new contacts, it has recruited Andrew McLean for its city office. He is experienced as a partner at Weil since 2000, this is announced by Sharon White, the chief executive of Stephenson Harwood. Refer THE LAWYER for more details.

Read the full article here:
Stephenson Harwood snares Weil Gotshal’s London energy head

Vault 2012 Rankings Come Out With Some Law Firms Ranking the Same, and Others Moving Up

EmploymentCrossing — Tue, 14 Jun 2011 14:41:34 +0000

In three key categories Weil forms a well secure top ten firm in the country in three categories and it is the law firm for diversity, it was said in the press release. Mary Kate Sheridan, who serves as Vault’s law editor notes additional points about the rankings. Latham & Watkins was at 15th place last year and has now gone up to number 11 on the 2012 list.

Read the original article here:

Weil Trumpets ‘Trifecta’ in Vault 2012 Rankings, But Wachtell, Cravath and S&C are 1-2-3 in Prestige

: In three key categories Weil forms a well secure top ten firm in the country and it is the law firm for diversity it was said in the press release. Mary kate sheridan serves as vault’s law editor notes additional points about the rankings.Latham & Watkins which plummeted from 15th place last year and is number 11 on the 2012 list.

GSI Commerce Being Purchased by eBay for $2.4 Billion

aostler — Tue, 29 Mar 2011 20:24:07 +0000

On Monday, March 28, eBay Inc. announced its plans to buy GSI Commerce for $2.4 billion. GSI Commerce is a Pennsylvania based company that provides online marketing services and operates websites for 180 retailers, including Toys R Us, Ace Hardware, American Eagle Outfitters, and Bath & Body Works.

Advising eBay is Dewey & LeBoeuf, with Keith Flaum, its Mergers and Acquisitions partner from Silicon Valley, leading the team. Flaum has advised eBay previously in 2010 and 2009. Several other partners that are also advising eBay with Flaum include: Jane Ross and Rick Climan, M&A Partners; Eric Reifschneider and Robert Finkel, technology transactions partners and counsel Spencer Wood; David Smith, corporate partner; Greg Owens, finance partner and counsel Patti Marks; and employment partner Mitch Pahl. The general counsel for eBay is Michael Jacobson.

GSI was advised by Morgan, Lewis & Bockius, with a team led by finance partner Richard Aldridge. Aldridge was assisted by Robert Gooding, litigation partner; Harry Robins, antitrust partner; Paul Gordon, tax partner; Joseph Ronan, employee benefits senior counsel, as well as partner Amy Kelly; Ron Dreben, Kenneth Davis, and Louis Beardell, IP partners; and Howard Kenny and Justin Chairman, finance partners. GSI’s primary in-house attorney was it’s own vice president and general counsel, Arthur Miller.

GSI is also being given counsel by Davis Polk & Wardwell. The team from Davis included Rachel Kleinberg, tax partner, Daniel Kelly Jr. and Julia Cowles, corporate partners, and Dennis Glazer, litigation partner. The CEO of GSI, Michael Rubin, is being advised by Sullivan & Cromwell, led by John Savva, corporate governance partner.

Weil, Gotshal & Manges are advising Morgan Stanley, which is GSI’s financial adviser in this deal. Michael Aiello, corporate partner, is leading that firm’s team.

Although the agreement has been signed, there is a now going to be a waiting period of 40 days so that GSI can consider other bids. If the deal is approved by GSI shareholders and receives regulatory approval, it should close sometime in the third quarter.

Morning Roundup

joshua — Wed, 21 Jul 2010 10:18:34 +0000

Good morning everyone! Today is Wednesday, July 21st. Here’s a quick recap of yesterday’s stories.

BuckleySandler added three attorneys to its practice…

Head of Clifford Chance’s UK fund practice left for Simpson…

A Reed Smith partner committed suicide…

Wachtell topped the Vault Law 100 again…

Kagan’s confirmation was approved by judiciary committee…

Adam Taliaferro joined Duane Morris…

Morning Roundup

joshua — Wed, 07 Jul 2010 10:15:26 +0000

Good morning everyone! Today is Wednesday, July 7th. Here’s a quick look back at yesterday’s stories.

Latham & Watkins announced its launch of an Asian litigation practice centered in Hong Kong…

Detroit-based firm Dykema hired Robin Radomski as its Chief Marketing Officer…

Saul Ewing added a four-person team focused on the gaming industry…

Sidley Austin named a new managing Partner in San Francisco…

Thompson Hine LLP received national recognition for leadership in promoting diversity…

Skadden was found to be first in M&A Advisements for first half of year…

A global study found tracking procedures lacking in lawyer-to-lawyer referrals…

Weil Gotshal received two international Legal Alliance Awards…

Fisher & Phillips opened an office in Washington, D.C….

The Bureau of Labor Statistics showed legal sector lost 3,900 jobs in June…

Clifford Chance named a new London practice head…

Weil Gotshal Receives Two International Legal Alliance Awards

eric — Tue, 06 Jul 2010 15:19:04 +0000

Metropolitan Corporate Council: Weil Gotshal & Manges has been recognized with two 2010 International Legal Alliance Awards. The awards went to the firm’s Technology and IP Transactions group and the firm’s Corporate and Mergers and Acquisitions group. The two both received the Silver Award for best U.S. practice in their field.

Awards were determined by the independent information provider, the Leaders League, in conjunction with an international body of legal advisory groups, and were given out in 28 categories. They were presented at the International Legal Alliance Summit, which gathers law firms from more than 40 countries with an intent to build and grow an international referral network of allied firms.

Founded in 1931, Weil, Gotshal & Manges is an international law firm with over 1,300 attorneys across 20 offices worldwide.

Morning Roundup

joshua — Mon, 14 Jun 2010 11:05:05 +0000

Good morning everyone! Today is Monday, June 14th. Here’s a quick recap of Friday’s stories.

For the second year running, Chambers honored Dechert LLP with the Award for Excellence in Product Liability…

McDermott Will & Emery was selected as Chambers’ Winner For Health Team Of The Year…

Chambers named Ropes & Gray number one in the field of intellectual property for 2010…

Greenberg Traurig received the Chambers award for its Real Estate Practice group…

Sidley Austin was honored by Chambers as the best in international trade…

Chambers presented Skadden Arps Slate Meagher & Flom with its annual Award for Excellence in the Tax Category…

New York based Chadbourne & Parke LLP was honored by Chambers for Excellence in the Energy Projects category…

Chambers awarded Sullivan & Cromwell for its excellence in the field of Energy Projects…

Weil Gotshal’s Bankruptcy Group rated for excellence by Chambers…

Gibson Dunn received Chambers annual Award for Excellence in the Antitrust Category…

National labor and employment firm Fisher & Phillips LLP is increasing its associate pay scale…

Venable LLP was the recipient of the Chambers Annual Award for Excellence in the Advertising and Marketing Category…

Weil Gotshal’s Bankruptcy Group Rated For Excellence

eric — Fri, 11 Jun 2010 16:54:59 +0000

Yesterday, in New York, Weil, Gotshal & Manges’ Bankruptcy practice group was honored by Chambers as top dog in the industry with an Award for Excellence. The awards ceremony coincided with the release of the 2010 edition of Chambers USA.

Weil Gotshal has been involved in a large percentage of major US and international reorganization cases and out-of-court restructuring for financially distressed companies. It has represented clients across industries and continents, including Enron, WorldCom, and Global Crossing. Recognized as an industry leader the firm’s practice has won other awards as well, including the Restructuring Team of the Year 2007 and Restructuring Deal of the Year 2007 at the IFLR Americas Awards 2007. Its Chapter 11 Bankruptcy practice, which operates under the firm’s Business Finance and Restructuring group consists of 21 attorneys located at the firm’s offices in New York, London, Paris, Miami, Dallas and Houston.

Founded in 1931, Weil, Gotshal & Manges is an international law firm with over 1,300 attorneys across 20 offices worldwide.

Morning Roundup

sara — Thu, 01 Apr 2010 11:24:55 +0000

Good morning everyone! Today is Thursday, April 1, and here’s a look back at yesterday’s news…

Bestattorneysonline.com announce the top ten environmental law firms in Alaska…

The Entrepreneurs Law Group is formed in South Carolina to advise businesses and individuals…

42 of 58 county district attorneys in California oppose the nomination of Goodwin Liu to the Ninth Circuit…

Linklaters is returning to lockstep compensation for it’s associates…

Quarles & Brady open an office in Tampa, Florida…

Weil Gotshal & Manges earn big bucks in the Lehman bankruptcy case…

A federal judge in Boston has ruled that mutual fund companies are subject to the Sarbanes-Oxley Act…

A U.S. District Court judge ruled that wiretaps were illegally installed on phones owned by the Islamic Foundation under the now ended Terrorist Surveillance Program…

Cha Ching! Weil Gotshal Earning Big Money in Lehman Case

joshua — Wed, 31 Mar 2010 23:11:45 +0000

Weil, Gotshal & Manges bills Lehman Brothers up to $1,000 an hour for its role as the company’s lead bankruptcy firm and, during a 17-month period that ended last month, the firm collected a total of $157.5 million in fees.

According to Bloomberg, Weil Gotshal charges $990 an hour for the use of its U.S.-based attorneys and $1,000 an hour for it top lawyers abroad. The rates were set Jan. 1 and were revealed in a regulatory filing submitted yesterday in U.S. Bankruptcy Court in Manhattan.

Although such rates are not unprecedented, they certainly are at the top end of the spectrum, according to Stephen French, managing partner of Legalbill, which provides companies with analysis of legal costs.

“A thousand dollars an hour is high by any measure,” French told Bloomberg.

Weil Gotshal partner Harvey Miller is the main lawyer for Lehman and he declined to comment on the story. According to a March 2009 court filing, Weil Gotshal charged a top rate last year of $950 for U.S. lawyers and $1,170 for overseas partners, Bloomberg reports.

Lehman Brothers reported assets of $639 billion when it filed for bankruptcy in September 2008. It is in the process of liquidating to pay off its creditors. According to Bloomberg, there have been no major objections into what advisers such as Weil Gotshal are being paid.

Weil Gotshal Tops the World in M&A Advisements

joshua — Fri, 26 Mar 2010 15:59:20 +0000

Weil, Gotshal & Manges advised on $90.8 billion in announced mergers and acquisitions in the first quarter of 2010 to top all law firms. Reuters reports an improved credit market and more risk taking has led to a rebound in the M&A market.

Weil Gotshal’s advisements included the biggest in the quarter, a $35.5-billion takeover of American International Group Inc’s Asian life insurance unit by Britain’s Prudential Plc. Frederick Green, co-chairman of Weil’s M&A practice, commented on the state of the market.

“You are seeing the effects of pent-up demand after a lengthy period of very slow M&A activity, coupled with a strong equity market,” Green told Reuters. “That has led to a marked increase in the number of stock-for-stock mergers, where the buyer’s stock is used as acquisition currency.”

Coming in second in transactions with $88 billion was Wachtell, Lipton, Rosen & Katz. It is followed by Cleary Gottlieb Steen & Hamilton ($80 billion), Davis Polk & Wardwell ($77.2 billion).

Skadden, Arps, Slate, Meagher & Flom LLP which ranked first last year, came in eighth. Weil ranked 10^th last year.

Weil Gotshal Weathers Down Economy

joshua — Mon, 08 Mar 2010 22:55:37 +0000

Gross revenue was virtually unchanged and profits per partner increased slightly on a year-over-year basis at Weil, Gotshal & Manges in 2009. The firm reported gross revenue of $1,233,054,282 in 2009, which barely betters the previous year’s mark of $1,230,801,620.

Profits per equity partner improved to $2,314,723 from $2,273,802, but revenue per lawyer declined slightly to $1,017,372 from $1,034,287.

Weil Gotshal is headquartered in New York City and has offices throughout the United States, Europe and Asia. It was placed under new leadership in December when Barry Wolf was named executive partner, replacing Stephen Dannhauser.

Greenberg Taurig Open S.F. Office with Two Shareholders

joshua — Wed, 03 Feb 2010 20:29:46 +0000

Greenberg Traurig has opened an office in San Francisco, its fifth in California. The new office will have two managing shareholders — Samuel B. Shepherd and Kenneth Steinhal.

Shepherd, an IP and employment litigation attorney, was previously a partner at Quinn Emanuel Urquhart Oliver & Hedges. Steinthal’s practice focuses on trying cases in the music and broader media industries. He had been at Weil Gotshal & Manges since beginning his career in 1978.

Greenberg Traurig’s San Francisco office sits in 28,000 square feet of space at 153 Townsend St. It is expected to have 12 to 15 attorneys by month’s end. The firm entered California with the opening of its Los Angeles office in 2000. In addition to Los Angeles and San Francisco, the firm also has offices in Orange County, Sacramento and Silicon Valley and more than 200 attorneys in the Golden State.

50 Best Law Firms for Women Announced

Erik Even — Tue, 11 Aug 2009 20:33:38 +0000

Working Mother Magazine and Flex-Time Lawyers have announced their 2009 Best Law Firms for Women.

The accolade is awarded based on attention to work-life and women’s issues, and the increased use of part-time and other family-friendly policies.

Firms with at least 50 lawyers were eligible to apply, and the application included detailed questions about issues that are important to the retention and promotion of female lawyers. The winning firms were selected based on their workforce profile, family-friendly benefits and policies, flexibility, leadership, compensation, advancement and retention of women, among other criteria utilizing 2008 data.

The 50 firms chosen are not ranked in any order, but include:

Alston & Bird
Andrews Kurth
Arent Fox
Bass Berry Sims
Chapman and Cutler
Covington & Burling
Davis Polk & Wardwell
Debevoise & Plimpton
Dorsey & Whitney
Drinker Biddle
Foley Hoag
Folger Levin & Kahn
Fox Rothschild
Frankfurt Kurnit Klein & Selz
Fried Frank Harris Shriver & Jacobson
Frost Brown Todd
Gibbons PC
Goodwin Procter
Gray Plant Mooty
Hanson Bridgett
Hardy & Bacon
Holland and Hart
Honigman Miller Schwartz & Cohn
Ice Miller
Jenner & Block
Katten Muchin Rosenman Cornish LLP
Latham & Watkins
Lindquist & Vennum
Littler Mendelson
Lowenstein Sandler
Manatt Phelps & Phillips
McGuireWoods
Miller & Chevalier
Morrison & Foerster
Munger Tolles & Olson
Neal Gerber & Eisenberg
Orrick Herrington & Sutcliffe
Paul Weiss Rifkind Wharton & Garrison
Perkins Coie
Pillsbury Winthrop
Quarles & Brady
Shook
Sidley Austin
Simpson Thacher & Bartlett
Smith Moore Leatherwood
Steptoe & Johnson
Sterne Kessler Goldstein & Fox
Vinson & Elkins
Weil Gotshal & Manges
Wilmer Cutler Pickering Hale & Dorr
Wilson Sonsini Goodrich & Rosati

Huh. The list of firms not included might be shorter.

Freshfields Loses Top Partners

Erik Even — Tue, 04 Aug 2009 16:41:47 +0000

Freshfields has lost two top partners, both of whom joined the firm from White & Case less than two years ago.

Maurice Allen is one of the UK’s top banking lawyers, having worked at Clifford Chance and Weil Gotshal. He and Mike Goetz joined Freshfields in March 2008.

The firm describes the split as amicable — but Allen has a reputation for problems with management, including publicized friction at White & Case.

London’s Freshfields Bruckhaus Deringer LLP is an international law firm with offices in Europe, the Middle East, Asia, and the US. In 2006 it was the world’s fourth largest law firm by revenues.

Law Firm Hirings & Firings

Erik Even — Tue, 21 Jul 2009 22:19:34 +0000

Recent laterals and layoffs in the legal sector:

Salem Katsh joins Schnader Harrison from private practice as as a partner in its New York intellectual property group. Katsh previously chaired the IP groups at Weil Gotshal & Manges and Shearman & Sterling. More recently, he was the chair of the IP group at Kasowitz Benson Torres & Friedman.

Michael Piazza joins Greenberg Traurig from Dorsey & Whitney. He is a former Regional Trial Counsel for the Los Angeles office of the SEC. Piazza joins Greenberg Traurig’s securities litigation practice group as head of the Irvine, California office’s practice. His JD is from the University of Minnesota Law School.

Thomas J. Durling joins Flaster Greenberg’s Philadelphia from DLA Piper, as a shareholder in the IP practice. Durling’s practice focuses on patent procurement, due diligence, intellectual property litigation and client counseling within the mechanical engineering field. His JD is from the Widener University School of Law.

Weil Gotshal to Defer Summer Associates to 2012

Erik Even — Fri, 17 Jul 2009 19:08:39 +0000

Weil, Gotshal & Manges announced in March that it was deferring its incoming associates’ start dates to January 2010, and is asking new hires to voluntarily wait until 2011.

Today the firm told its current summer associates that, if offered a job, they can voluntarily defer their start date from January 2011 to January 2012.

Those deferred would get a $75,000 stipend and health care benefits, if they spend 1,000 hours doing firm-approved public interest work.

In May, Weil Gotshal eliminated 79 administrative positions across its US offices.

Weil, Gotshal & Manges is an international law firm headquartered in New York City. It is one of the largest and most highly regarded law firms in the world, with approximately 1,300 lawyers and gross annual revenue in excess of $1.7 billion.

Survey: Slaughter & May Top UK Firm for Associate Satisfaction

Erik Even — Fri, 17 Jul 2009 16:30:38 +0000

A survey conducted by Legal Week says Slaughter and May has the most satisfied associates of any UK firm.

Legal Week Intelligence’s 2009 Employee Satisfaction Survey questioned more than 4,000 associates at the top 75 law firms in England and Wales, and at the top 10 US firms in London.

Slaughter operates on a bonus plan based on salary, without any billable hours targets. The firm paid out a firmwide bonus of 10% of base salary in November 2008.

Not a single Slaughter associate surveys is looking for another job; at Magic Circle firms, an average of 10% are looking for different work.

The other top firms were CMS Cameron McKenna, Dewey & LeBoeuf and Weil Gotshal & Manges.

Law Firm Hirings & Firings

Erik Even — Thu, 16 Jul 2009 23:32:23 +0000

Recent laterals and layoffs in the legal sector:

Scott Martin joins Greenberg Traurig in New York City as a shareholder in the Antitrust Litigation Practice, from Weil Gotshal where he served as a partner. He focuses his practice in the areas of antitrust and complex commercial litigation. Martin earned his JD from Stanford Law School.

Former Chippewa County, Wisconsin circuit court Judge Thomas Sazama has joined the Eau Claire law firm of Weld, Riley Prenn and Ricci. Sazama served as a judge in Chippewa County since his appointment in 1994. He received his law degree from Marquette University.

Amy Shearer joins the Wrexham, Wales office of GHP Legal as a trainee. She earned a dual honors degree in law and criminology at Keele University, and her Legal Practice Certificate at Chester Law School. The firm employs 100 people across North Wales and Shropshire.

Morning News Roundup for Thursday

Erik Even — Thu, 09 Jul 2009 12:00:50 +0000

Good morning! Here are the top stories:

DLA Piper confirms that it laid off 21 lawyers and 100 staff yesterday…

Dewey & LeBoeuf has lured away a team of top lawyers from Cooley Godward Kronish…

Chicago’s Baker & McKenzie has announced it is laying off 11% of its lawyers and staff in China…

Edwards Angell has hired on two private equity and venture capital partners…

Weil Gotshal is cutting the salaries of new associates at its London office…

Weil Gotshal Slashes Salaries for London Associates

Erik Even — Tue, 07 Jul 2009 19:23:28 +0000

Weil Gotshal, which in May laid off 79 staff and in June announced the closure of its Austin, Texas office, is cutting the salaries of new associates at its London location.

Newly-qualified lawyers at One South Place will see their compensation cut 5.5%, to £85,000 ($137,500). Still, the new reduced salary is higher than the going rate for top London firms.

Also, the London branch is freezing salaries for all associates.

The Week in Law Firm Layoffs

Erik Even — Sat, 04 Jul 2009 17:00:20 +0000

This week in law firm layoffs:

Ruden McClosky: 8 lawyers

Allens Arthur Robinson: 114 undisclosed

Weil, Gotshal & Manges: 16 lawyers, 11 staff

Barlow Lyde & Gilbert: 49 undisclosed

Taylor Wessing: 11 lawyers

Denton Wilde Sapte: 14 lawyers

Harvard Law School: 12 undisclosed

Total: 49 lawyers, 11 staff, 175 undisclosed

Previously:

Week of June 28th: 30 lawyers, 43 staff

Week of June 14th: 51 lawyers, 34 staff

Week of June 7th: 81 lawyers, 61 staff, 85 undisclosed

Week of May 31st: 101 lawyers, 142 staff, 49 undisclosed

Week of May 24th: 66 lawyers, 119 staff

Week of May 17th: 40 lawyers, 118 staff

Week of May 10th: 274 lawyers, 499 staff

Week of May 3rd: 274 lawyers, 160 staff

Week of April 26th: 352 lawyers, 220 staff, 70 undisclosed

Week of April 19th: 61 lawyers, 184 staff

Week of April 12th: 67 lawyers, 50 staff, 115 unidentified

Week of April 5th: 144 lawyers, 310 staff

Week of March 29th: 199 lawyers, 474 staff

Week of March 22nd: 455 lawyers, 219 staff

Week of March 15th: 91 lawyers, 177 staff

Week of March 8th: 574 lawyers, 812 staff

Weil Gotshal Shuts Austin Office

Erik Even — Tue, 30 Jun 2009 18:13:49 +0000

Weil Gotshal, which in May laid off 79 staff, is shuttering its Austin, Texas office on December 1st, 2009.

Partner Kevin Kudlac will be transferred to Houston. The office’s 16 associates and 11 staffers have been offered positions in the firm’s other offices. Those who turn down the relocation offer will get severance benefits.

The Week in Law Firm Layoffs

Erik Even — Sat, 30 May 2009 17:07:12 +0000

This week in law firm layoffs:

LG: 12 lawyers

Freshfields Bruckhaus Deringer: 14 lawyers

Weil, Gotshal & Manges: 79 staff

Snell & Wilmer: 40 staff

Covington & Burling: undisclosed lawyers

Ropes & Gray: 40 lawyers

Total: 66 lawyers, 119 staff

Previously:

Week of May 17th: 40 lawyers, 118 staff

Week of May 10th: 274 lawyers, 499 staff

Week of May 3rd: 274 lawyers, 160 staff

Week of April 26th: 352 lawyers, 220 staff, 70 undisclosed

Week of April 19th: 61 lawyers, 184 staff

Week of April 12th: 67 lawyers, 50 staff, 115 unidentified

Week of April 5th: 144 lawyers, 310 staff

Week of March 29th: 199 lawyers, 474 staff

Week of March 22nd: 455 lawyers, 219 staff

Week of March 15th: 91 lawyers, 177 staff

Week of March 8th: 574 lawyers, 812 staff

Weil Gotshal Lays Off 79 Staff

Erik Even — Fri, 29 May 2009 20:23:08 +0000

Weil, Gotshal & Manges has eliminated 79 administrative positions across its US offices.

Those targeted will get severance packages with transitional income and benefits, including health care and outplacement.

In March, the firm deferred start dates for incoming associates.

Survey: Skadden is Nation’s Top Firm Again

Erik Even — Wed, 20 May 2009 16:59:59 +0000

Skadden has been ranked the top corporate law firm in the US for the ninth year in a row, according to Corporate Board Member magazine.

The rankings are based on a poll of 6,300 directors and general counsel.

Here are the top 20 on the America’s Best Corporate Law Firms list, including last year’s ranking:

1. Skadden Arps Slate Meagher & Flom, New York (1)
2. Jones Day, Cleveland (7)
3. Cravath Swaine & Moore, New York (2)
4. Wachtell Lipton Rosen & Katz, New York (3)
5. Sullivan & Cromwell, New York (5)
6. Weil Gotshal & Manges, New York (9)
7. Gibson Dunn & Crutcher, Los Angeles (13)
8. Kirkland & Ellis, Chicago (8)
9. Latham & Watkins, Los Angeles (6)
10. Fulbright & Jaworski, Houston (17)
11. Baker & McKenzie, Chicago (14)
12. O’Melveny & Myers, Los Angeles (19)
13. Davis Polk & Wardwell, New York (4)
14. Wilson Sonsini Goodrich & Rosati, Palo Alto (14)
15. Sidley Austin, Chicago/New York (-)
16. Shearman & Sterling, New York (11)
17. Paul Weiss Rifkind Wharton & Garrison, New York (11)
18. Covington & Burling, Washington DC (16)
19. Hogan & Hartson, Washington DC (20)
20. Fried Frank Harris Shriver & Jacobson, New York (-)

Corporate Board Member is a leading information resource for senior officers and directors of publicly traded corporations, large private companies, and Global 1000 firms.

Weil Gotshal Offers Big Bucks to Deferred Associates

Erik Even — Thu, 26 Mar 2009 21:04:49 +0000

Weil, Gotshal & Manges has announced it is deferring its incoming associates’ start dates to January 2010, and is asking new hires to voluntarily wait until 2011. Weil is also cutting its summer program from 12 weeks to 10 weeks.

Associates deferred to 2010 will be cut a $15,000 check.

Those who accept a deferment to January, 2011 will get another $75,000, in addition to the immediate $15,000 — if they spend the time at a firm-approved public interest organization.

Associate who choose not to work will get $60,000, on top of the $15,000.

Lateral Hiring Up 100% in London

Erik Even — Thu, 26 Mar 2009 16:52:36 +0000

Over five years, London firms’ hiring of lateral partners has almost doubled, from 42 hires in 2004 to 79 in 2008.

The data come from a Legal Week study tracking hiring at 33 US and UK firms’ London offices.

Orrick, Weil Gotshal, Arnold & Porter, Cleary Gottlieb, Cravath, and Skadden all brought on laterals.

On the other hand, Shearman & Sterling, Dechert and White & Case cut lawyers.

Debevoise Reports Revenue Up

Erik Even — Mon, 02 Mar 2009 22:20:08 +0000

New York’s Debevoise & Plimpton announced that its 2008 gross revenue climbed 7.2%, while profits per partner fell nearly 3%.

Revenue grew to $760.8 million, but profits per partner dropped to $2.23 million.

The drop-off in profitability followed declines at other New York-based firms, such as Skadden, Arps, Slate, Meagher & Flom; Sullivan & Cromwell; and Davis Polk & Wardwell. Only a few, such as Cleary Gottlieb Steen & Hamilton and Weil, Gotshal & Manges, have posted positive results.

Debevoise’s profits per partner dropped in part because the firm had more equity partners in 2008. The firm’s overall income actually increased 1.3% last year to $318 million. But the number of equity partners also increased.

Revenue per lawyer inched up slightly by less than 1% to $1.2 million.

The firm cut associate bonuses in December, after Cravath, Swaine & Moore set the market floor at $17,500 for a first-year associate bonus.

Debevoise & Plimpton LLP is a prominent international law firm based in New York City. Founded in 1931 by Eli Whitney Debevoise and William Stevenson, the firm currently employs about 680 lawyers in eight offices throughout the world.

Weil Gotshal Hires Former Bush Counsel

Erik Even — Mon, 23 Feb 2009 18:16:33 +0000

Weil Gotshal & Manges has hired former White House deputy counsel William Burck as a partner in its investigations & criminal defense practice at the firm’s 81-lawyer Washington, DC office.

Before serving as deputy counsel to President George W. Bush, Burck, 37, also served as a legal adviser to Assistant Attorney General Alice Fisher in the Criminal Division at the Department of Justice. Before that he was deputy staff secretary at the White House.

Before joining the US Attorney’s Office in March 2003, Burck was an associate at Sullivan & Cromwell in New York.

Burck received his bachelor’s degree from Yale University and his JD from Yale Law School.