With Potential Bankruptcy Looming, Three Dewey Lenders Cash Out

While the precise nature of Dewey & LeBoeuf's inevitable demise remains to be seen, several creditors owed millions of dollars aren't waiting around to find out how the story ends. Citi Private Bank, Bank of America and HSBC -- three of the four banks that extended a $100 million line of credit to the now-crippled law firm -- have sold their portions of the debt, according to a source familiar with the matter. It was unclear Thursday who bought the banks' Dewey debt and at what price.

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Third Circuit Extends Test for Bankruptcy Claims

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The Legal Intelligencer

1:30 P.M. ET

In its test to determine when there is a valid claim against a company undergoing bankruptcy, the Third Circuit has extended the parameters to allow for claims regarding faulty products after the company has filed its petition for bankruptcy, but before its reorganizational plan has been confirmed.

U.S. Supreme Court Gives Prosecutors a Win in Double Jeopardy Case

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The National Law Journal

The U.S. Supreme Court took a narrow view of the Constitution's double jeopardy clause on Thursday, allowing the retrial of an Arkansas man on murder charges even though the jury in his first trial voted unanimously that he was not guilty.

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Home Depot Settles Case Over Soldier's Firing

ATLaw | May 22, 2012

The U.S. Department of Justice's Civil Rights Division announced this week that it has reached a settlement with Home Depot USA regarding allegations that the company violated the federal Uniformed Services Employment and Reemployment Rights Act of 1994 when it fired a U.S. Army National Guard soldier who had served in Iraq. In the consent decree memorializing the settlement, Home Depot denied that it had violated the USERRA while acknowledging it had "resolved its differences" with its former employee.

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All the key financial metrics for The Am Law 100 rose by single digits last year: gross revenue, revenue per lawyer and profits per partner. Eighty-three firms posted revenue gains, 25 more than in the prior year. Firms reversed course and added to their head count. Even equity partners grew their ranks on average after two years of flat or negative growth. But as a rule, income inequality continued to plague the rankings.

The Haves and the Haves Less

 

Gross Revenue: Vereins Top List

Am Law 100 Interactive Chart

25 Years of The Am Law 100

After three years of flat to negative growth, 2011 was when the nation's 250 largest law firms started getting bigger again. Headcount among NLJ 250 firms was up a collective 2,132 lawyers, for a growth rate of 1.7 percent -- in line with the average increase during the past 10 years, but well below the 4 to 5 percent growth of 2005-2008. Growth was far from universal in 2011; while 118 firms on the list added lawyers, 109 shrank and eight were flat.

A Time to Grow, Once Again

Full NLJ 250 Survey Results

Newcomers to the NLJ 250

NLJ 250 Regional Report

While the nation's 100 highest-grossing firms rebounded from a disastrous 2009 by posting healthy gains in 2010, gains at the Second Hundred were less robust. The Second Hundred's total gross revenue rose 2.2 percent, to $17.46 billion in 2010 from $17.08 billion in 2009, while average revenue per lawyer increased just 1.5 percent, to $579,749 from $570,999. Average profits per partner rose 3.4 percent, to $665,665 from $643,580. So why aren't they worried?

The 2011 AmLaw 200

Gross Revenue

RPL Top 20

The economy began to rebound in 2011, but that wasn't enough to get firms to rev up associate hiring. We rank the top 50 law schools by percentage of 2011 J.D. grads who took jobs at NLJ 250 firms. We also identify the schools where NLJ 250 firms recruited the most graduates and the law schools that saw the most alumni promoted to partner in 2011.

It's Tough Out There

The Go-To Law Schools

Firm Favorites of 2011

Associates Promoted to Partner

Biggest Bang for the Buck?

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