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Big Law Rates Continue Rising, But Trail 2023 Increases So Far
The average Am Law 50 firm upped its rates by 8% to 10% in 2024, according to bankruptcy records.
After Moderate Revenue Gains, Law Firms Plan for Growth in Both Deals and Litigation
"The mindset is toward growth as opposed to cutting, and that's a change over the last 18 months," Wells Fargo's Owen Burman said.
Dallas, Houston See Notable, Above-Average Billing Rate Increases
The going rate for partners in Dallas increased from $674 per hour in 2022 to $770, a roughly 14% jump. In Houston, associates saw a roughly 10% increase, with mean going rates increasing from about $477 per hour to about $525.
Where Are Big Law Billing Rates Growing the Fastest?
Some lawyers have seen a rate increase above 20%. Overall, lawyers in financial services and health care, and in markets such as Dallas and Houston, all saw notable rate hikes.
Is RPAPL §1301 Really an Impediment to Pursuing a Guaranty Claim?
Scott Weinberg and Joel Haims discuss New York's "Election of Remedies" statute, examining whether it really has a material impact in practice.
Law Journal Press | Digital Book
District of Columbia Legal Malpractice Law 2024
Authors: Shari L. Klevens, Alanna G. Clair
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Borrower's Common Defenses in Mortgage Foreclosures Negated
Howard Kingsley, who represented Broom Lender in "Broome Lender LLC v. Empire Broome LLC," discusses the case and how the Appellate Division, First Department removed common obstacles and cleared the path for assignees of mortgage loans to foreclose easily and quickly. Kingsley offers that the case is a "major win for lenders and their assignees because there had not been a prior decision by a New York state court where it found that, although standing was not established through an allonge, standing was established on summary judgment by the assignment of the note."
As Cohen Milstein Grows, Law Firm Names New Managing Partner
The leadership change comes on the heels of one of the firm's "most successful years financially," according to Benjamin Brown, its new managing partner.
Shareholders Sue Dollar General Over Rosy 2023 Financial Outlook Gone Bad
Pending litigation rounds out a tough year for the discount retailer.
Lender Standing: Ending the Staple/Paperclip Divide
A discussion of "Broome Lender LLC v. Empire Broome LLC," a recent decision by the Appellate Division, First Department regarding the proof that a foreclosing lender needs to establish standing following an assignment of the loan.
The Best Advice We Heard From GCs in 2023
With top in-house lawyers increasingly being part of the C-suite, they bring more to the table than just their legal expertise. Efficient knowledge sharing is essential in that process.TRENDING STORIES
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Revenue, Profit, Cash: Managing Law Firms for Success
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Law Firm Operational Considerations for the Corporate Transparency Act
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