Pillsbury Adds 3 Bankruptcy Partners From Cadwalader

Pillsbury Winthrop Shaw Pittman has announced that it has added three bankruptcy partners from Cadwalader Wicksham & Taft, including former Cadwalader financial restructuring co-chair Deryck Palmer. Joining him in making the move are Andrew Troop and Christopher Mirick. All three will continue to be based in New York. Mr. Palmer’s departure ends what had been a swift rise at Cadwalader. A little more than a year after joining the firm in March 2007 from Weil, Gotshal & Manges, Mr. Palmer became co-chair of the bankruptcy group, serving alongside Bruce Zirinsky, who left Cadwalader for Greenburg Traurig in June 2009.

Mr. Palmer served as one of the U.S. Treasury Department’s lead counsels in the General Motors restructuring and led Cadwalader’s team on the lucrative LyondellBasell Chemical bankruptcy. Court filings show that Cadwalader collected roughly $90 million in fees and expenses on the Lyondell case, with Mr. Palmer billing at $1,050 an hour, Mr. Troop getting $850 an hour, and Mr. Mirick collecting $700 an hour.