A contingency fee related to work for The Flintkote Co. led to double-digit increases in key metrics at Chicago’s Schiff Hardin. The firm’s gross revenue was up 14.7 percent, to $276.5 million, while profits per partner jumped 21 percent, to $980,000, and revenue per lawyer rose 17.4 percent, to $875,000.
In September, Flintkote accepted a $575 million asbestos settlement from Imperial Tobacco Canada Ltd., its former owner, as part of its Chapter 11 reorganization plan. Schiff Hardin’s fee was just shy of $32 million. Without the Flintkote fee, Schiff Hardin’s gross revenue would have increased about 1.5 percent from 2014.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
