Bankruptcy, Kramer Levin, Musical Chairs

Musical Chairs: Bankruptcy Lawyers on the Move

kramer levin logo.JPGThis is not the best time to be losing Bankruptcy rainmakers. But according to the ABA Journal, that is exactly what is happening to Kramer Levin Naftalis & Frankel. The three partners are: David Feldman, Eric Wise and Matthew Williams. David Feldman was formerly the co-chair of Kramer Levin’s bankruptcy group.

Gibson Dunn’s press release heralding the new hires reinforced the trio’s rainmaking capacity:

“This group has an established practice and a tremendous reputation in the distressed debt arena and will give Gibson Dunn a strong foundation in this growing area,” said Michael Rosenthal, Co-Chair of the Business Restructuring and Reorganization Practice Group.

Update (3:51): As many commenters pointed out, bankruptcy superstar Luc Despins is leaving Milbank for Paul Hastings. According to the National Law Journal:

Luc A. Despins, well-known in the profession for his representation of the creditors’ committee in the bankruptcy of Enron Corp., is the latest marquee name to be poached as firms rush to ramp up restructuring practices in response to the worsening economy.

According to our sources at Milbank, no associates will be leaving with Despins. The firm could not be reached for immediate comment.

Bankruptcy lawyers are the new IP attorneys. They’re very much in demand.

Kramer Levin Bankruptcy Trio Jumps Ship to Gibson Dunn [ABA Journal]

Top Milbank Bankruptcy Partner Leaves for Paul Hastings []

Gibson Dunn Adds Three-Partner Bankruptcy and Distressed Debt Group in New York [Gibson Dunn]

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