Paul Hastings

ATL Summer Associate Event Contest: The Finalists

By

This summer is not as thrilling for law students as summers past. Firms have tightened their belts, and the law students lucky enough to snag one of the few summer associate positions out there are not getting the royal treatment. Or they are, but now the royal treatment is defined as allowing summers to order anything they want off the McDonald’s Dollar Menu (“All the McChickens and baked apple pies you can eat, 3Ls! But get it to go. There’s work to be done.”).

The Philadelphia Inquirer laments the decline of the summer associate experience:

The programs themselves, with trips abroad and lavish entertaining, could seem more like summer enrichment for precocious college students than real employment. But as a general rule, that sort of treatment is a thing of the past.

More typical is the summer program at the Wilmington office of Skadden, Arps, Slate, Meagher & Flom L.L.P., where Temple second-year Nick Mozal is spending his summer in corporate law. Mozal said there has been some entertaining, but the big event so far has been a night at a Phillies game.

Well, it is Wilmington. Are there better options than that?

But even in much more glamorous Philadelphia, the summer experience is lackluster:

James Lawlor, a Reed Smith partner who recruits and hires summer associates, said the firm has been doing less entertaining of summer associates, and when it does, it is more likely to schedule events at the firm’s Center City offices rather than at costly restaurants.

“We took away some of the bells and whistles,” Lawlor said.

Not all firms have silenced their bells and thrown out their whistles, though. After the jump, check out this year’s contenders for best summer associate event. And vote for the firm that should take home the shorter and smaller prize…

double red triangle arrows Continue reading “ATL Summer Associate Event Contest: The Finalists”

30 Comments

Associate Bonus Watch: Paul Hastings Matches Cravath Scale Everywhere but Atlanta

By

For two weeks we’ve been getting reports about Paul Hastings bonuses. Many people claim that they received bonuses on par with the Cravath scale. But there have been a dedicated few who claim they were jobbed by the firm at bonus time. This tipster captures the general feeling:

PH bonuses were just announced [last month] and some crazy stuff has been going on. The top performers are getting totally screwed as PH has a bonus grid and is not allowing anyone to go off of that set chart. The result is that the best people with the strongest evals and tons of hours are getting barely any more different than their peers who did the bare minimum. There are some extreme and specific examples.

We’ve been able to solve the mystery. Paul Hastings gave out Cravath-level bonuses in all of their offices except Atlanta. In Atlanta Paul Hastings tried to match the Atlanta market for total compensation — which resulted in bonuses below the Cravath scale. The firm gave us details on its decision….

double red triangle arrows Continue reading “Associate Bonus Watch: Paul Hastings Matches Cravath Scale Everywhere but Atlanta”

186 Comments

Open Thread: When Do You Start Work, Class of 2010?

By

start date 3Ls ready for Biglaw start dates.jpgLucky little 3Ls with offers, are you dreaming of the Biglaw days that await you? If your firm didn’t tell you last summer that you would be deferred, you should be hearing about your start date soon… right?
Some people have started hearing news. Those heading to White & Case have not gotten start dates but they have heard about their deferral stipend. From a firm e-mail:

We are pleased to confirm that we will be paying a stipend of US$65,000 to students whose start dates have been deferred to Fall 2011. Almost all of you have accepted your offers, and we look forward to having you back at the Firm.

Some especially lucky little 3Ls actually know when they get to start…

double red triangle arrows Continue reading “Open Thread: When Do You Start Work, Class of 2010?”

25 Comments

Paul Hastings Partner Defections: And Then There Were Six

By

Haynes Boone logo.jpgThe number of Paul Hastings real estate partners fleeing for Haynes and Boone keeps growing. Initially, Paul Hastings admitted that three of its real estate partners were leaving. But then Haynes and Boone sources confirmed that they were poaching four PH RE partners — including Steven Koch, the administrative head of Paul Hastings’s real estate practice.
Today, HayBoo is out with an announcement that they’ve picked up six PH partners, all in the real estate group. From the Haynes and Boone press release:

In a major expansion of its East Coast real estate, finance and real estate restructuring practices, Haynes and Boone, LLP announces the addition of six partners who bring a wealth of experience, particularly representing top-tier New York financial institutions, real estate funds and private equity groups.

Sources report that the additional two partners had tried to keep their pending defection secret from the general Paul Hastings public. Maybe they didn’t want to become the subject of a bidding war between the firms?
The other two names and more details after the jump.

double red triangle arrows Continue reading “Paul Hastings Partner Defections: And Then There Were Six”

214 Comments

Haynes and Boone Picks Up Paul Hastings Real Estate Partners

By

haynes and boone logo.JPGEarlier this morning, we reported that three (or four) real estate partners were on their way out of Paul Hastings. Now we’re hearing that the partners weren’t “forced out.” Instead, they were actively recruited by Haynes and Boone and gave notice to Paul Hastings management on Monday.
Haynes and Boone sources confirm that Bob Grados, Ken Friedman, and Walter Schleimer will start at Haynes and Boone’s New York office on Monday.
And a fourth Paul Hastings partner will be joining them. It might help to explain why Paul Hastings sources thought the first three partners were pushed out in the first place.
Details after the jump.

double red triangle arrows Continue reading “Haynes and Boone Picks Up Paul Hastings Real Estate Partners”

155 Comments

Paul Hastings: Three Partners Told to Pack Their Bags

By

Paul Hastings logo.JPGUPDATE: We have additional coverage on this story here.
Associate layoffs are sometimes conducted in a stealth manner. Partner layoffs are always conducted in secret. Forcing out partners has been a big part of the Great Recession. But when firms “quietly ask partners to leave,” the information actually stays pretty quiet.
But last night, the Above the Law inbox started buzzing with news that four real estate partners had been asked to leave Paul Hastings.
UPDATE: Sources now report that only three partners are being asked to leave.
How do we know this? Well, Paul Hastings may have quietly asked these people to leave, but their offices were packed up loudly.
We understand that all of the departures are in Paul Hastings’s New York real estate department. We’ve got the names, details, and a firm statement, after the jump.

double red triangle arrows Continue reading “Paul Hastings: Three Partners Told to Pack Their Bags”

108 Comments

Update: More Law Firms Help Out Haiti

By

Haiti earthquake January 2010.jpgOn Wednesday, we commended the firm of Paul Hastings for moving so quickly to support Haiti earthquake relief efforts. Since then, a number of other top law firms have pledged their support to this worthy cause.
(Okay, Rush Limbaugh questions the worthiness of the cause. But we suspect that Limbaugh’s position — like that of Pat Robertson, who blames the earthquake on Haiti’s supposed pact with the devil — is a minority view.)
The WSJ Law Blog and Am Law Daily have gathered information about what various law firms are doing to help Haiti. We’ve combined their reports with information we’ve received from our own sources, to create a more comprehensive list.
Check it out, after the jump.

double red triangle arrows Continue reading “Update: More Law Firms Help Out Haiti”

85 Comments

Paul Hastings Helps Out Haitians

By

Haiti earthquake January 2010.jpgLarge law firms have a track record of stepping up to the plate and providing aid when major disasters strike. For example, back in spring 2008, several leading law firms made sizable donations to support China earthquake relief efforts.
Last night, a major earthquake — the worst in the region in more than 200 years, with a magnitude of at least 7.0 — struck Haiti. The death toll could climb into the hundreds of thousands. For more details and analysis, read this post by Elie over at True / Slant. (Elie has family in Haiti.)
The earthquake just happened, but law firms are already taking action. From a tipster at Paul Hastings:

Who says law firms are all bad? I’m happy to see that whatever bonus money I may miss come March is going to a good cause at least. PH donated $100,000 to earthquake relief.

Is your firm taking similar action? Feel free to let us know, in the comments. You can also make a personal donation in support of Haiti earthquake relief via Doctors Without Borders, the organization that Paul Hastings is supporting, or via the Red Cross (disclosure: ATL advertiser).
UPDATE: You can also donate $10 to the Red Cross simply by texting the word “Haiti” to the number 90999. See here.
The full Paul Hastings memo, after the jump.

double red triangle arrows Continue reading “Paul Hastings Helps Out Haitians”

106 Comments

Lawsuit of the Day: Cerberus v. Paul Hastings

By

Cerberus Capital Management v Paul Hastings Janofsky Walker.JPG‘Tis the season for… litigation between law firms and their ex-clients? What happened to the holiday spirit of peace and good will for all?
First Simpson Thacher (malpractice), then Debevoise (last item — unpaid fees), and now, Paul Hastings (malpractice). From the New York Law Journal:

A financing unit of Cerberus Capital Management L.P. has sued Paul, Hastings, Janofsky & Walker, claiming the law firm gave it bad advice in connection with a loan the private equity firm made last year to a company looking to bring retailer Steve & Barry’s out of bankruptcy.

Ableco Finance LLC, a unit of Cerberus with more than $6 billion under management, filed an amended complaint Friday in Manhattan Supreme Court against its former lawyers seeking more than $55 million it said it lost because of the $125 million loan. Ableco claims it would never have made the loan last year if the Paul Hastings team had advised it that the buyer would not have rights to all of Steve & Barry’s inventory, which Ableco understood would back the loan.

“No competent, diligent finance lawyer would have put his client in such a vulnerable position,” Ableco’s complaint reads in part.

Ouch. We agree with Ashby Jones of the WSJ Law Blog: “It’s never good for a law firm to get sued by one of its clients. But when the client is a deep-pocketed heavyweight like private-equity giant Cerberus, the news is probably especially unwelcome.”
But Paul Hastings is fighting back, with the help of high-powered counsel.

double red triangle arrows Continue reading “Lawsuit of the Day: Cerberus v. Paul Hastings”

Former U.S. Attorney v. Angry Estranged Husband
(And some reflections on reputation in the internet age.)

By

Tom O'Brien Thomas O'Brien Paul Hastings.JPGThomas O’Brien is the former U.S. Attorney for the Central District of California. He recently joined Paul Hastings, which trumpeted his arrival in a press release. Tom O’Brien is a public figure — he used to be the top federal prosecutor in Los Angeles, nominated by the president and confirmed by the Senate — so he’s used to a little public scrutiny.
But O’Brien couldn’t have been prepared for what happened when his girlfriend’s estranged husband took an unauthorized stroll through her email inbox. The husband found emails between O’Brien and his wife, and they didn’t make him happy.
Instead of handling the situation like a rational adult, the husband — we’ll call him “Ken” — decided to bombard the professional networks of both O’Brien and his wife (also an attorney) with the “pillow talk” emails he discovered. Ken attempted to cast the relationship between O’Brien and his (Ken’s) wife as an affair.
This is not the first time such a thing has happened. Back in 2008, the New York Times reported on a husband’s similar vendetta against a successful Wall Street banker, carried out online. Earlier this year, as Above the Law readers may recall, a cuckolded husband emailed sexting messages between his wife and a White & Case attorney to all of the lawyers at White & Case in Miami.
Ken took this aggressive strategy one insane step further, apparently emailing every lawyer he could think of. You may have already received Ken’s emails, especially if you’re in California, from Ken himself or via email forward.
Is spamming an entire professional network the new revenge of the spurned lover? Are lawyers, as members of a profession that is surprisingly small and highly reputation-conscious, especially vulnerable to this tactic? Does this approach actually work?
After the jump, let’s look at the offense and the (over)reaction.

double red triangle arrows Continue reading “Former U.S. Attorney v. Angry Estranged Husband
(And some reflections on reputation in the internet age.)”

118 Comments
Page 4 of 1012345678...10