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October 06, 2009 |

Has the Recession Forever Changed Large Law Firms?

The worst economic downturn since the Great Depression has hit law firms hard. Big firms are hurting, with profit margins squeezed by sagging demand and record-high expenses. The result: the now familiar litany of mass layoffs, salary freezes and cuts, deferred start dates for first-year associates, and canceled or downsized summer programs. The $160,000 question now is, what happens when the economy recovers? Will things go back to how they were? The answer, according to law firm and law school leaders, is no.
12 minute read
Robbins Russell Scores Mega Win for Tousa Creditors in Chapter 11 Fraud Suit Against Banks
Publication Date: 2009-10-14
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Unsecured creditors for the bankrupt homebuilder claimed that Tousa fraudulently transferred assets to the banks that lent it $500 million in 2007. After a 13-day bench trial this summer, a federal bankruptcy judge agreed--in a ruling that may cost the banks almost $700 million.

Rare Securities Class Action Trial Begins in Years-Old Subprime Case
Publication Date: 2009-03-30
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Years before the phrase "toxic assets" became a cliche, the shareholders of a mortgage company called Household International filed a class action in Chicago federal district court, alleging that Household had engaged in "a massive predatory lending scheme" that inflated the company's financials. The trial in the case begins this week.

October 01, 2003 |

From Latham & Watkins to Wolf Block

Letters L through W in the firm-by-firm summary of the responses to The American Lawyer's 2003 Associate Survey.
116 minute read
Aurelius Hires Dechert, Gears Up for Litigation Stemming from $45 Billion TXU Buyout
Publication Date: 2011-02-28
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Wondering why the litigious distressed debt hedge fund isn't using Simpson, the firm that represents Aurelius in the Argentina bond default and MBIA cases? We've got the answer.

September 26, 2005 |

2005 Ineligible List

Notice to the bar.
407 minute read
June 04, 2010 |

Tales From the Front Lines of Small Firm Practice

Lawyers are followers, seldom leaders and probably not cut out for entrepreneurship. So insinuated Carly Fiorina in a New York Times interview prior to her celebrated ouster as CEO of Hewlett-Packard in 2005. Up to a point, New York attorneys with an enterprising impulse surveyed by The New York Law Journal agree with Fiorina's notion of a button-down bar. Which in part is why they, too, march to different drummers and are happy being their own bosses.
17 minute read
Cohen v. Viray, 08-3860-cv
Publication Date: 2010-10-01
Practice Area: Business Law
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Court: U.S. District Court, Southern District
Judge: Before: Hall, Livingston, and Chin,* C.JJ.
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For plaintiff: GARY D. SESSER (William F. Sondericker, Laura Anne Reeds, and Christopher J. Young, on the brief), Carter Ledyard & Milburn LLP, New York, New York, for Intervenor-Appellant D. David Cohen. THOMAS G. AMON, Law Offices of Thomas G. Amon, New York, New York, and Brian J. Robbins, and Gregory E. Del Gaizo, on the brief, Robbins Umeda LLP, San Diego, California, for Plaintiff-Appellee Alvin Viray, Derivatively on Behalf of DHB Industries, Inc.
For defendant: ERIC RIEDER (David P. Kasakove and Chris M. LaRocco, of counsel, on the brief), Bryan Cave LLP, New York, New York, for Defendant-Appellee DHB Industries, Inc., now known as Point Blank Solutions, Inc.. MARK HOLLAND (Mary K. Dulka, on the brief), Goodwin Procter LLP, New York, New York, for Defendants-Appellees Barry Berkman, Cary Chasin, Gary Nadelman, and Jerome Krantz. JEROME GOTKIN, Mintz Levin Cohn Ferris Glovsky and Popeo, P.C., New York, New York, for Defendant-Appellee David H. Brooks. STEVEN G. KOBRE (Francisco J. Navarro, on the brief), Kobre & Kim LLP, New York, New York, for Defendant-Appellee Dawn M. Schlegel. RACHEL PENSKI, Milbank, Tweed, Hadley & McCloy LLP, New York, New York, for Defendants-Appellees David Brooks International, Inc., Elizabeth Brooks International, Inc., and Andrew Brooks International, Inc.
Case number: 08-3860-cv

Cite as: Cohen v. Viray, 08-3860-cv, NYLJ 1202472745889, at *1 (2d Cir, Decided September 30, 2010)Before: Hall, Livingston, and Chin,* C.JJ.p class="decid

March 21, 2003 |

Forsee Arbitration Turns on 'Integrity'

The dust finally is settling in the dispute between Gary D. Forsee and BellSouth. After a months-long battle spread among three courts over whether Forsee could escape his employment contract to join competitor Sprint as their chief executive officer, arbitrator William H. Webster gave Forsee the go-ahead -- with conditions -- on Tuesday. But it's not necessarily over yet.
6 minute read

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