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The AM Law Daily

Daily legal news from American Lawyer magazine.
By American Lawyer

Post Frequency: 9.5/day

Last Entry: March 30, 2011 at 21:00:00

Kraft Lauds Morgan Lewis's Service

Posted on February 17, 2010
But the reasons behind Kraft's praise for the firm weren't quite what we expected.

THE AM LAW 100: Latham's Profits Bounce Back

Posted on February 17, 2010
Latham & Watkins today released its financials for fiscal year 2009 and the picture that's emerging is of a firm on the mend.While revenue was down 5 percent last year, profits inched up by the same percentage. The optimistic returns come after the firm's profits per equity partner suffered one of the steepest falls among Am Law 100 firms in 2008.

THE AM LAW 100: Profits Up, Revenue Down at Shearman & Sterling

Posted on February 16, 2010
"It was our second-best year in terms of profitability," says senior partner Rohan Weerasinghe. "We're looking at 2010 with a lot more optimism." The firm sees demand picking up in time for returning associates.

$450 Million Settlement With Creditors Could See Lyondell Exit Chapter 11

Posted on February 16, 2010
Just days after unsecured creditors lashed out at Lyondell Chemical?s bankruptcy counsel at Cadwalader, Wickersham & Taft, a tentative settlement with those same creditors announced on Tuesday could open the way for Lyondell to exit bankruptcy by the end of April.

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THE AM LAW 100: A Steady Year for Greenberg Traurig

Posted on February 16, 2010
Gross revenue dipped 2.9 percent to $1.17 billion in 2009 while profits per equity partner were relatively flat, ticking up 0.15 of a percent to $1.311 million. While total lawyer headcount dipped, the number of nonequity partners increased by more than 10 percent to 585...

Ken Starr Named President of Baylor University

Posted on February 16, 2010
Kenneth Starr, always to be remembered as the independent counsel overseeing the Whitewater investigation that led to the move to impeach President Bill Clinton, has been named president of Baylor University. Not surprisingly, Starr's legal connections helped him get the job.

THE AM LAW 100: Profits, Revenue Rise at Gibson Dunn

Posted on February 16, 2010
Despite the economic downturn, revenue and profits remain on an upward trajectory at Gibson, Dunn & Crutcher. Gross revenue rose nearly four percent to $995 million and profits per equity partner also increased by a more modest 1.6 percent to 1.905 million.

Air Products / Airgas War of Words Heats Up

Posted on February 16, 2010
The battle over Cravath, Swaine & Moore's role in Air Products and Chemicals' attempted takeover of rival Airgas has become so pitched that you could almost forget a $5.1 billion unsolicited takeover is at stake here.

Wachtell, Jones Day Advise on $1.4 Billion Mexican Wireless Deal

Posted on February 16, 2010
Grupo Televisa, the largest media company in the Spanish-speaking world, will pay $1.44 billion in cash in exchange for an equity stake in Nextel Mexico.

Wachtell Tapped for $10 Billion Real Estate Buyout

Posted on February 16, 2010
After nearly three months of waiting, Wachtell, Weil Gotshal, and Kirkland & Ellis appear set to navigate the thicket of bankruptcy and M&A legal issues arising from Simon Property Group's unsolicited $10 billion bid for bankrupt rival General Growth Properties.

Fertilizer Madness: Cravath, Wachtell, Latham on $4.1 Billion Norway-U.S. Deal

Posted on February 16, 2010
Terra Industries finally found an offer it liked.

Rhode Island Lawyer at Center of New Life Insurance Controversy

Posted on February 16, 2010
Joseph Caramadre has came up with a new twist on the old strategy of paying sick or elderly people to take out life insurance and having those people sign the policy over to investors who can collect on it.

Deferred Associate Diaries Part II: The Little Things

Posted on February 16, 2010
In the second installment of our Deferred Associate Diaries, Orrick's Andrew Ardinger writes about the differences between the firm and his Oakland nonprofit.

THE AM LAW 100: Profits Surge at Irell & Manella

Posted on February 15, 2010
Irell & Manella has announced that profits per partner at the firm increased nearly 27 percent in 2009 to $2.49 million. For Irell managing partner Elliot Brown, the continuing demand for the firm's services was central to the strong financial performance last year...

Dealmaker of the Week: Rick Burdick of Akin Gump Strauss Hauer & Feld

Posted on February 12, 2010
Burdick helped FirstEnergy power through negotiations with Allegheny Energy, culminating in a $4.7 billion deal announced Thursday. "You go into a transaction with your eyes wide open," Burdick says. "You pour yourself into it for 30 plus days, and you might not ever get to the signing...

As Olympics Open, Lawyers Sharpen Pencils

Posted on February 12, 2010
As the Winter Olympics opened Friday, the big names on the U.S. squad were already familiar to most of us. Some will be even bigger names after lawyers finishing preparing all those sponsorship agreements.

Canadian Firms Jump on the Olympics Bobsled

Posted on February 12, 2010
With the official start to the Olympics hours away, several top Canadian firms are doing more than cheering on their compatriots.

Big Firm Love

Posted on February 12, 2010
They have grueling schedules and killer hourly billing rates. Meet the power couples of the Am Law 100: husbands and wives who are both partners at big firms.

EBay Takes Another Punch in France

Posted on February 12, 2010
But the outcome of a battle here is still in doubt.

The Churn: Bankruptcy / Restructuring Edition

Posted on February 12, 2010
Dechert has two new partners from Goodwin; Winston & Strawn's New York office has close to 200 lawyers with two additions in the restructuring and insolvency group; and Hayes and Boone's recent New York hires include one bankruptcy attorney...

U.K.'s SJ Berwin Registers on the Merger Radar

Posted on February 12, 2010
With the impending merger between Hogan & Hartson and Lovells placing trans-Atlantic mergers in the spotlight, another London firm looks like it's in play.

Ropes, Wilmer Headline $1.1 Billion LBO

Posted on February 12, 2010
The firms advised on the sale of an Irish Internet training and software provider to a private equity group comprised of Berkshire Partners, Bain Capital, and Advent International--one of the few LBOs in Europe since the credit crunch.

Reeling From Latham Raid, White & Case Redeploys Key Partners

Posted on February 12, 2010
Having seen 13 partners in New York, London, and across the Middle East defect to Latham & Watkins in the last two weeks, White & Case is busy trying to shore up its market position in those critical jurisdictions. One step the firm is taking: shifting key partners to its newly depleted offices...

Bankruptcy Trustee Targets Rothstein Partners

Posted on February 12, 2010
A bankruptcy trustee is suing Stuart Rosenfeldt and Russell Adler for millions the two received in compensation and bonuses while they were name partners at Rothstein Rosenfeldt Adler, which dissolved in November amid charges related to a $1.2 billion Ponzi scheme...

The Snark Factor Just Went Way Up in the Cravath, Airgas Lawsuit

Posted on February 12, 2010
The firm's client, Air Products, the would-be buyer of Airgas, filed papers yesterday blasting Airgas' attempt to sue Cravath.

Latham, L.A. Boutique Won't Delay Judgment Day

Posted on February 11, 2010
The Terminator has triumphed over many things in its two decades on the silver screen. But when the movie franchise for which it is named found itself tied up in a bankruptcy court dispute, it needed help from lawyers from Latham & Watkins and bankruptcy boutique Peitzman, Weg & Kempinsky to change its future...

Skadden's Judith Kaye Slams Binghamton Hoops Program

Posted on February 11, 2010
But hoops junkies, sadly, won't find much new here.

The Bankruptcy Files: Will The Banner Year Continue?

Posted on February 11, 2010
Last year was a record-setting one for bankruptcy lawyers, according to a report from Jones Day. Time will tell if the trend will continue going forward, but for Jones Day, the work keeps coming in. The firm is representing Penton Media on its Chapter 11 filing...

Hong Kong Court Overturns "Milkshake Murder" Conviction

Posted on February 11, 2010
On Thursday, Hong Kong's Court of Final Appeal overturned a murder conviction and ordered a new trial for American expatriate Nancy Kissel, who killed her investment banker husband in 2003.

Northeastern Profs Leads Race to Toyota Courthouse

Posted on February 11, 2010
How much will consumers get simply for owning Toyotas that are worth less now?

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