Dissolution
-
Dissolution, Heller Ehrman
The $57 Million Dollar Typo (Or: Reason Number 57 Why I Shouldn't Be a Practicing Attorney)
This morning The Recorder is reporting that Bank of America and Citibank could lose $57 million because of a clerical error that could void the preferred status of BoA and Citibank: A secured creditor must “perfect” its security interests with uniform commercial code filings and file updates every five years. The bank last submitted such […] -
Dissolution, Summer Associates, Thacher Proffitt & Wood
A Would-Have-Been Thacherite Speaks
Thacher Proffitt & Wood made its dissolution official last month. Last Monday, the firm officially rescinded offers to approximately twenty 3Ls who were bound there after graduation. One would-have-been Thacherite said no one was surprised to have the offers rescinded but that the soon-to-be law school graduates are still “bummed.” The “firm did it right.” […] - Sponsored
This AI-Powered Document Tool Will Meet You Where You Are
Lexis Create provides simple access to internal and external knowledge — directly within Microsoft Word. -
Dissolution, Heller Ehrman, Thacher Proffitt & Wood
Anatomy of a Dissolution: Heller Files for Bankruptcy, Thacher Proffitt WARNS People to Come to Work
Heller Ehrman’s bankruptcy has been a long time coming. The firm made the news official on Sunday: Today the Dissolution Committee of Heller Ehrman LLP, in Dissolution (the “Firm”) authorized the Firm’s counsel to file a Petition for Reorganization under Chapter 11 of the United States Bankruptcy Code. We took this step only after very […]
-
Dissolution, Thacher Proffitt & Wood
Anatomy of a Dissolution: Closing the Loop on Thacher Proffitt
As Thacher Proffitt prepares to shut down, the “how did this happen” reports can begin. AmLaw Daily notes that while other firms had banner years in 2007, Thacher was already struggling: Thacher entered 2008 already struggling financially. The firm had suffered a dismal 2007, with gross revenue growing only 1.6 percent to $194.5 million and […] -
Dissolution, Thacher Proffitt & Wood
Thacher Profitt Dissolution Update:December 31st Could Be the End for TPW Litigation
Hard facts are difficult to come by, especially when the firm does not respond to requests for comment. But a tipster reports that Thacher Proffitt & Wood did have an associates meeting yesterday (as expected). At that meeting, we understand that associates were informed that TPW’s litigation department would close on December 31st. No mention […] -
Dissolution, Thacher Proffitt & Wood
Nationwide Dissolution Watch: Is TPW Finally Done?(Stay tuned. We'll know more tomorrow.)
Last Thursday, we reported that King & Spalding might represent the last best hope for Thacher Proffitt & Wood. The Legal Times puts TPW’s situation into the clearest possible terms: [Thacher’s] overall headcount is down more than 100 lawyers compared to last year — and so are its profits. Profits per partner fell more than […] -
Dissolution, King & Spalding, Law Firm Mergers, Real Estate, Thacher Proffitt & Wood
Law Firm Merger Mania: Thacher Proffitt To Be Rescued by King & Spalding?
Talks between Thacher Proffitt and King & Spalding, a story we broke here, remain ongoing. From the Legal Times: Atlanta-based King & Spalding is in talks to acquire most, but not all of Thacher Proffitt & Wood’s lawyers, say two sources aware of the discussions. In order to avoid dissolution, New York-based Thacher hopes to […] -
Dissolution, Heller Ehrman
Anatomy Of A Dissolution: Heller Ehrman v. Citi and B of A
It has been a while since we last checked in with the firm formerly known as Heller Ehrman. While many Heller partners have landed safely at firms like Orrick, Covington & Burling, and Winston & Strawn, some ex-Heller junior associates and staff are still twisting in the wind. The fact that markets everywhere are awash […] - Sponsored
How Generative AI Will Improve Legal Service Delivery
Learn how emerging tools will likely change and enhance the work of lawyers for years to come in this new report. -
Dissolution, Musical Chairs, Thelen Reid & Priest, Thelen Reid Brown Raysman & Steiner
Robinson & Cole/Heller Drone Comes to the Aid of Thelen Attorneys
Thelen attorneys in NYC and Hartford have a new landing spot. Robinson & Cole picked up 30 displaced Thelen attorneys. According to the Connecticut Law Tribune: The move adds heft to Robinson & Cole’s construction, real estate, employment and finance practice groups, among others. “It’s a smart move and good pick-up,” said Connecticut-based law firm […] -
Dissolution, Howrey LLP, Thelen Reid Brown Raysman & Steiner
Howrey and Reed Smith: Latest Beneficiaries of Thelen's Shutdown
The Recorder is reporting that Howrey will take on 40 lawyers from Thelen’s prestigious San Francisco construction practice: The group — which Howrey characterized as “most of the construction practice” from Thelen — includes Thelen Chairman Stephen O’Neal, construction practice head John Heisse II, D.C. office managing partner Andrew Ness, San Francisco partner David Buoncristiani […] -
Dissolution, Heller Ehrman
Anatomy Of A Dissolution: Heller Ehrman's 'AIG Moment'
AIG, the American taxpayers’ very own insurance company, has taken a lot of heat for their company retreat full of facials and frivolity. But in our own world of dissolving law firms, Heller Ehrman’s actions before the end have gotten far too little scrutiny. Yesterday, American Lawyer ran a story (subscription) about Heller’s 2007 partner […] -
Dissolution, Thelen Reid Brown Raysman & Steiner
Morgan Lewis Shaves Some Meat Off the Thelen Carcass
On Friday, while much of the Thelen news was still focused on Nixon Peabody feasting on Thelen refugees, we heard an interesting tip from people at Morgan Lewis: I hear we have acquired all or most of Thelen’s corporate practice? I haven’t seen any official announcements but I hear that a couple floors below me […] -
Dissolution, Thelen Reid & Priest
Nixon Peabody Picks Up 90 Thelen Attorneys (This is Different From a Merger How?)
We’ve previously reported that Nixon Peabody was acquiring 60 ex-Thelen attorneys, but only Thelen refugees located in Manhattan. But now it is looking like Nixon is picking up 90 ex-Thelen lawyers (partners and associates), former Thelen support staff, and tripling its presence in Silicon Valley. Yesterday’s press release from Nixon reported: The new attorneys are […]
Sponsored
Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so…
Sponsored
How Generative AI Will Improve Legal Service Delivery
Learn how emerging tools will likely change and enhance the work of lawyers for years to come in this new report.
Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use.
Sponsored
Sponsored
This AI-Powered Document Tool Will Meet You Where You Are
Lexis Create provides simple access to internal and external knowledge — directly within Microsoft Word.
Sponsored
Profit Powerhouse: Elevating Law Firm Financial Performance
In this CLE-eligible webinar on April 10th, we’ll explore the most common accounting pitfalls and how to avoid them for your firm.
-
Dissolution, Heller Ehrman
Winston & Strawn Reaps Heller Rewards
Winston & Strawn is expanding with the help of Heller refugees. A tipster reports on the latest internal Winston communication: [We] are extremely pleased to announce that the firm has added a number of former Heller Ehrman attorneys who will greatly enhance Winston’s practices and international presence. Winston has acquired three partners in Hong Kong […] -
Dissolution, Thelen Reid & Priest
Thelen Dissolution Committee Revealed
The Recorder has published the people who will be in charge of winding down operations at Thelen: The three members of Thelen’s dissolution committee are David Graybeal, Douglas Davidson and Thomas Hill. The firm has also hired as outside counsel Peter Gilhuly, the Latham & Watkins bankruptcy partner who advised Brobeck, Phleger & Harrison on […] -
Dissolution, Thelen Reid & Priest
Buoy oh buoy! Five Things Hellerites Wished They Knew At The Start
[Ed Note: This post was written for ATL by “Heller Drone,” who created the blog Heller Highwater in response to a lack of information concerning Heller Ehrman’s dissolution. We asked Heller Drone for helpful advice to offer Thelen associates and staff. Good luck to everybody dealing with these difficult circumstances.] Being capsized is often something […] -
Dissolution, Layoffs, Thelen Reid & Priest
Thelen Officially Dissolves
Thelen has officially announced they will dissolve. According to the release, Thelen: [B]reached a partner departure covenant that restricts the number of partners who may depart the firm within any twelve month period. In other words, the bank pulled Thelen’s line of credit, much like they said was not going to happen. Most disturbingly, Thelen […] -
Dissolution, Thelen Reid & Priest
Breaking: Thelen's All Partner Meeting
After yesterday’s news that Thelen Chairman Stephen O’Neal was in talks to move to Howrey, the Thelen partnership met today. That meeting is still ongoing, but early reports are that a partnership committee recommended dissolution to the full partnership. The firm has been maintaining that they had a plan that would avoid dissolution ever since […] -
Dissolution, Thelen Reid & Priest
Weebles Wobble, But Does Thelen Fall Down?
We’ve spent the day collecting our Thelen rumors. This morning The Recorder reported that Thelen chairman Stephen O’Neal has been in talks to move to the D.C. firm Howrey. Apparently, he’s poised to take 30 attorneys with him. The firm is set to hold an all partner meeting on Tuesday to discuss their options: A […] -
Dissolution, Heller Ehrman
Heller Ehrman: A Time To Kill Sue
Three Heller Ehrman employees have decided to sue the firm. They allege that the firm owes them wages under the WARN act, as well as the California state labor code. According to The Recorder: The named plaintiffs are Laura Werth, a technology assistant in San Francisco who joined the firm in September 1996; Carl Goodman, […]