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September 10, 2008 | International Edition

Bingham recruits bankruptcy leader in New York

Bingham McCutchen has recruited a global bankruptcy practice co-leader from Schulte Roth & Zabel, reports The New York Law Journal. Jeffrey Sabin, who will join Bingham's New York office, has represented creditors' committees or bondholders' committees in major bankruptcies, including those of Chiquita Brands, Rockefeller Center Properties and Alliance Entertainment. The addition of Sabin will bolster Bingham's New York bankruptcy capability following the departure last year of former practice co-head Evan Flaschen, who left in March 2007 to join the New York office of Bracewell & Giuliani.
1 minute read
September 03, 2008 | International Edition

Everyone's favourite target

When it costs almost $100 (£55) to fill the gas tank of the average American's SUV, something's got to change. Conscientious consumers are downsizing their cars to improve gas mileage and conserve energy. But some lawmakers are advocating a more American way: sue the oil producers.In May, the House of Representatives passed a Bill that would amend federal law to allow the US Government to sue the Organisation of the Petroleum-Exporting Countries, or OPEC, for price-fixing. President Bush has vowed to veto the Bill, known as NOPEC, if it passes the Senate.
4 minute read
July 09, 2008 | International Edition

US Firms in London: Tough talking

US law firms remain publicly committed to expanding their London offices despite wider concerns that it could take until 2010 for current economic conditions to improve. This is the key finding of Legal Week's annual US law firms in London survey, which reveals that 86% plan to increase their headcount over the next 18 months. This is only slightly less than in 2007, when 91% of US firms earmarked further growth for their London operations.
12 minute read
June 12, 2008 | International Edition

Gap between Am Law 100 and 200 increases as US firms' revenue and profits are revealed

The revenue gap between the US's 100 largest firms and their second hundred counterparts widened in 2007 according to The American Lawyer's recently published Am Law 200 survey. Four new firms featured for the first time and one made a return to the rankings, which feature the 101st to the 200th largest firms in the US ranked by revenue.The results saw the average firm in the second hundred grow their turnover by 8.6%, from $157m (£80.2m) in 2006 to $170.5m (£87.1m) in 2007. This compared to an increase of 13.6% by firms in the top 100, increasing from $567.5m (£289.8m) in 2006 to $644.5m (£329.1m) a year later.
2 minute read
May 02, 2008 | International Edition

US Briefing: New Brocade suit targets Wilson Sonsini

Few plaintiffs have gone after companies' outside lawyers in backdating lawsuits. But a new derivative case against directors and officers at Brocade Communications Systems also targets the company's law firm, Wilson Sonsini Goodrich & Rosati. Filed in California federal court by a small San Diego firm, the suit accuses Wilson Sonsini of legal malpractice for allegedly blessing backdating at Brocade, a company that saw two of its former executives convicted of criminal charges.
3 minute read
April 16, 2008 | International Edition

US Focus: Legal aid

When a London-based partner at a magic circle firm took an American colleague and his wife out to the opera recently, the conversation turned to politics.The English lawyer expressed surprise that the US partner appeared to be so familiar with the political views and activities of his fellow partners. Indeed, the US lawyer observed: "Partners are likely to have lunchtime conversation about politics or pull someone across the room and say 'did you read that article today about that speech by Obama?'"While in the UK there are numerous high-level politicians who initially trained as lawyers, on the other side of the Atlantic practising lawyers tend to be more engaged in politics, at both a local and national level. "In the US a large proportion of prominent lawyers are very politically active," says the US partner. "Many may run for office some day or, even if not, they are very politically connected. A significant reason for why lawyers become lawyers in the US is that they have political ambitions or interests - they would like to have some influence."
11 minute read
April 14, 2008 | International Edition

McDermott lures projects head from Akin Gump

McDermott Will & Emery has appointed a new global head of projects following the hire of a senior partner from rival US firm Akin Gump Strauss Hauer & Feld. John Cogan, who also headed up the global projects practice at Akin Gump, will split his time between McDermott's City arm and the firm's newly-opened Houston office.
2 minute read
March 13, 2008 | International Edition

Scandal-hit Spitzer faces wait for law firm role

So what will Eliot Spitzer do next, assuming he escapes criminal prosecution and disciplinary sanction following his alleged involvement with a high-end prostitution ring? If he follows the example of his three living predecessors as governor, he will join a law firm.
4 minute read
March 05, 2008 | International Edition

McDermotts opens in Houston with triple hire

McDermott Will & Emery has opened an office in Houston, Texas, with the hire of three energy lawyers from Bracewell & Giuliani. Robert Stephens, David Locascio and Jose Luis Vittor are launching the new group. McDermott chairman Harvey Freishtat said: "Our clients have told us that our presence in the Houston market will better serve their legal and business needs - we are responding to this need."
1 minute read
February 29, 2008 | International Edition

US Briefing: Associates - why they go and how to keep them

At the 250 largest law firms, all the associate indicators are up - internships, incoming classes, recruiting costs, salaries and bonuses. But for all this effort, larger firms lose 30%-50% of associates after three to four years - with half to two-thirds of the defections due to associate choice. They go to smaller firms or more competitive firms in the same city, firms in other cities, in-house, government, teaching and non-legal jobs.
3 minute read

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