Am Law Daily reports that H. Rodgin Cohen of S&C is making serious money as the markets collapse.
Cohen has been the man in demand by companies struggling to ride out the latest subprime-related rollercoaster roiling the capital markets. His work this past week alone includes advising Lehman Brothers on its limited options prior to filing for Chapter 11 bankruptcy protection on Monday and counseling AIG in its $85 billion bailout by the Federal Reserve on Tuesday. The longtime S&C partner was on a roll even before these events unraveled last weekend–Cohen advised Fannie Mae on its seizure by the federal government on September 7.
Does that “H” stand for “hurricane?” We’ll see if Cohen brings rain to associates come bonus time.
We’ve covered a lot of the law firms that are dancing in the ashes of Wall Street. But new winners are emerging everyday. Simpson Thacher advised the AIG board of directors. Millbank, Paul Hastings, Cravath, and Kelley Drye are just some of the firms that are in on the party known as “creditor actions.” And Clifford Chance handled part of Barclay’s acquisition along with Cleary.
Even government lawyers will get in on the fun, now that Andrew Cuomo doesn’t know the difference between New York State and the power of God.
It looks like there is going to be a lot of work floating around this fourth quarter as people try to make their hours.
But it’s not all candy and coke for big firms these days.
Read about the downside after the jump.