Law firms interested in finding a parter may want to carefully review last week's New York opinion that Nixon Peabody was allowed to recruit a dozen Taylor Wessing partners despite an agreement between the firms not to hire from each other for two years as a condition of merger talks that ultimately collapsed. One merger consultant says firms should not expect such "gentleman's agreements" to hold up in court, but an attorney for Taylor Wessing said the judge was "writing a new disciplinary rule."
Merger Seekers Beware: Non-Hire Agreements May Be Worthless
The American Lawyer
September 23, 2008