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There was virtually no change in profits per partner between 2001 and 2002 at the D.C. office of Skadden, Arps, Slate, Meagher & Flom. That doesn’t mean the 251-lawyer office had a bad year. With profits averaging $1.6 million per partner, Skadden’s D.C. shop still ranks ahead of its competition as the richest partnership in the District. Skadden, which remained in the No. 5 spot in the D.C. 20 survey, posted a 12 percent increase in gross revenue, from $180.5 million in 2001 to $202 million last year. Revenue per lawyer was also up 5 percent, from $765,000 to $803,000. Firmwide, Skadden’s gross revenue topped $1.3 billion. Skadden’s D.C. managing partner Michael Rogan says its work on behalf of the Enron Corp. kept the D.C. office busy, particularly the litigation section and partner Robert Bennett. The firm also represented Allied Irish Banks when federal authorities investigated how nearly $700 million was lost by its then-U.S. subsidiary, Allfirst Financial Inc. In addition, Skadden represented the Kmart Corp. and US Airways in those companies’ high-profile bankruptcy filings. Rogan says the D.C. office gained a lot of business advising company boards on how to comply with the Sarbanes-Oxley Act, which expanded the enforcement powers of the Securities and Exchange Commission. The firm’s antitrust and tax sections remained active despite the fact that mergers and acquisitions business was down. “There weren’t as many transactions, but we had the Washington portion of the big ones,” says Rogan. For example, Skadden’s D.C. office worked on IBM’s $3.5 billion acquisition of PricewaterhouseCoopers’ consulting and technology services. The firm also represented Citicorp in its purchase of San Francisco’s Golden State Bancorp Inc.

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