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LOS ANGELES � Paul, Hastings, Janofsky & Walker, long known for its employment litigation and real estate work, is banking on its corporate department for future growth. Here’s why: Last year, the firm’s revenues topped $813.5 million, up 22% from 2005. Those figures bumped Paul Hastings into the ranks of the nation’s top 20 highest-grossing firms, according to rankings by The American Lawyer, an affiliate of The National Law Journal. Seth Zachary, chairman and partner in the New York office, attributed last year’s growth to the firm’s corporate deals, many of which closed in Asia and Europe. He also said increased revenues came from a growing practice in intellectual property litigation. The moves are notable given the firm’s historic ties to employment litigation and real estate transactions. “The corporate practice has grown dramatically,” Zachary said, noting that 36% of the firm’s fees came from corporate work � more than any other department. Paul Hastings has 1,100 attorneys in 18 offices worldwide, including four in Asia and four in Europe. Asian deals made up $82 million of the firm’s 2006 revenues, Zachary said. In the corporate arena, the firm represents banks and private equity funds, he said. “As the economy became more global, and so much of our practices are overseas now, the corporate practice was something to focus on,” he said. Of the 450 lawyers in the firm’s corporate department, nearly 40% are outside the United States, said Robert Miller, chairman of the corporate department. He said the department has doubled in size since about four or five years ago, when the firm decided to formalize the corporate practices into six groups: Securities finance and capital markets, mergers and acquisitions, private equity, finance and restructuring, investment management and project development and finance. The growth, Miller said, is “absolutely by design. We view our future to be predominantly oriented toward the transactional practice.” Among the firm’s most notable deals last year was the representation of UBS A.G. and PT Danareksa Sekuritas in arranging a $1 billion high-yield bond offering in Indonesia. John Hawkins, chairman of the global projects group for the firm, said the 55-attorney practice has doubled in the last 3 1/2 years, he said. “If you asked me to guess where we’ll be in five years, I’d say I wouldn’t be surprised if we don’t have 100 lawyers in the practice by then,” Hawkins said. Carl Sanchez, chairman of the global mergers and acquisitions practice group, said his practice closed more than 200 deals in 2006, double that of the year before. “We will build this practice to what I hope would be twice as big as it is now in the next few years,” he said of the 65-attorney practice group. Wendy Knudsen, general counsel and executive vice president of Cequel III, a management company in the telecommunications sector, said she prefers Paul Hastings on deals because of its business focus. “If, for example, we’re working on a deal, and we’re in the middle of negotiations with the other side and trying to reach a solution on open issues, they help us find a creative resolution to those issues,” Knudsen said. Last year, Paul Hastings handled the financing side of two Cequel III deals worth $4 billion. In intellectual property litigation, the practice has doubled to 125 lawyers in the past four years, said Steve Korniczky, chairman of the intellectual property group. In 2006, the firm added 40 lawyers, mostly on the East Coast. “We saw revenues almost triple from the year before,” he said.

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