Stroock offices in Washington, D.C. July 25, 2018. Photo: Diego M. Radzinschi/ALM What's Next for Stroock After 43-Lawyer Defection?
"Sometimes when big groups leave, it's actually not as hard, because they take a lot of their own support with them. And if it's a relatively standalone group, it's often less of an issue for the remaining firm," said Fairfax Associates' Lisa Smith.
April 01, 2022 at 02:07 PM
8 minute read
In what was one of the largest single-team lateral moves of the past 20 years, news broke Thursday that a 43-lawyer restructuring team had defected from Stroock & Stroock & Lavan to Paul Hastings, sending shockwaves through the financial services legal community. Not only had Stroock lost a sizable team, but Paul Hastings had effectively tripled its restructuring offering, arguably making it a new destination for clients and talent alike in the practice area.
Heralded a "unicorn" deal by Paul Hastings incoming chair Frank Lopez, the group comprised 18 partners and 25 associates and counsel, led by Kristopher Hansen. Hansen was Stroock's financial restructuring group practice leader, fellow defector Alex Cota led Stroock's specialty finance business unit, and their colleagues Daniel Fliman and Brett Lawrence led its impact litigation unit and distressed M&A offering, respectively.
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