Editor’s note: This is the first of a two-part series looking at the current state of affairs at Stroock Stroock & Lavan.

The estimated annual revenue generation of the bankruptcy and restructuring group that departed Stroock Stroock & Lavan for Paul Hastings in March, as confirmed by three independent sources, is likely north of $60 million. Stroock’s 2021 revenue, as a firm, was about $260 million. That means as a conservative estimate, almost one-quarter (23%) of the firm’s revenue walked out the door.