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O'Melveny bankruptcy co-chair quits for Dechert
Michael Sage, the co-head of restructuring at O'Melveny & Myers, has joined Dechert in the latest in a series of high-profile moves in the bankruptcy Bar. Sage primarily represents creditors in bankruptcies and out-of-court restructurings, including acting on the Chapter 11 proceedings for Refco and Ziff Davis Media. He bills $895 (£610) an hour, according to an August filing in the Ziff Davis bankruptcy, which earned O'Melveny nearly $1.02m (£695,000) in fees.Sage said: "Dechert provides me a wonderful opportunity to combine my practice and things I like to do and am good at with what the firm does."
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