Five attorneys from the New York office of a Los Angeles bankruptcy boutique that closed have joined Goodwin Procter’s financial restructuring practice.
The attorneys made up the New York office of 25-attorney Stutman Treister & Glatt, a well-known bankruptcy boutique that closed amid a slowdown in large Chapter 11 work and low interest rates, which allowed companies to easily refinance. Partners Michael Goldstein and William Weintraub, counsel Eamonn O’Hagan and associates Gregory Fox and Kizzy Jarashow joined Goodwin Proctor Thursday.
Stutman Treister, founded in 1948, opened its New York office in fall 2012 with six attorneys, with Weintraub coming from Friedman Kaplan Seiler & Adelman and Goldstein joining from Greenberg Traurig. Lawyers in the firm’s main Los Angeles office earlier announced they were joining other firms.
Goodwin Procter’s managing partner, Robert Insolia, said, although the bankruptcy market is slower, the firm’s investment in the new hires will pay off in the near team because Goodwin had only five restructuring attorneys firmwide for a 800-attorney firm. The addition will double the size of the practice, while Goodwin’s New York office now totals 175 attorneys, he said.
“It’s a great time to make an investment to add talent who will be able to help our clients,” he said. “In our view, we don’t buy revenue, we acquire talent.”