Bankruptcy, Boutique Law Firms, Law Firm Mergers, Musical Chairs, Wall Street

Musical Chairs: Hughes Hubbard Is Ready For Some Action

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We mentioned that litigation boutiques would likely be big winners from the market collapse. Some small firms are already cashing in. The bankruptcy boutique of Luskin, Stern & Eisler has merged with Hughes Hubbard & Reed.

There was enough room on the Hughes Hubbard bandwagon for everybody at Luskin. All eight lawyers will be joining Hughes Hubbard’s bankruptcy practice, with name partner Richard Stern becoming the co-chair of the group.

The merger makes perfect sense if Hughes Hubbard is trying to position itself to capitalize on creditor actions coming out of the Wall Street meltdown. Of course, that is not what Hughes Hubbard says they are doing:

Hughes Hubbard says it is merely a coincidence that the deal was finalized after a week of heavy financial turmoil.

“We had wanted to do this for a while,” James Modlin, co-chair of the firm’s lateral hiring committee, tells The Am Law Daily. “Starting last summer, we realized the time was right to bolster our bankruptcy practice. Bankruptcy goes in cycles, and we were thinking this might be a boom time.”

Maybe Hughes Hubbard does own the world’s best Magic 8 Ball. However they planned this acquisition, they got the execution exactly right.

Hughes Hubbard Makes Timely Acquisition of Bankruptcy Boutique [Law.com]

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