Shipping Law Firms Confront New Realities
Of all the industries impacted by the 2008 global financial crisis, shipping may be having the toughest time crawling back up. That's proven a challenge for those law firms that service the sector.Tribune Creditors Seek Scraps From Katten in Suit
Unsecured creditors in the rollicking bankruptcy of the Tribune Company have sued Katten Muchin Rosenman over $25,000 the firm received from the media giant before the start of its Chapter 11 case two years ago.Mary Jo White's Husband to Step Down from Cravath Equity Partnership Upon Confirmation
Mary Jo White and her husband have amassed assets of at least $16 million, according to a financial disclosure form filed by the Debevoise & Plimpton partner who has been nominated to be the chairman of the Securities and Exchange Commission. The form, which she filed last week with the U.S. Office of Government Ethics, also shows that White received slightly more than $2.4 million as a Debevoise partner last year. White's husband, a Cravath, Swaine & Moore equity partner, will also move to nonequity status if she is confirmed, presumably to ease conflict problems.Jacoby & Meyers Defeated in Court Fight to Seek Outside Investors in New York
JPMorgan's Legal Woes Yield Big Work for Am Law 100 Firms
With legal battles forcing JPMorgan Chase & Co. to set aside an eye-popping $23 billion for litigation costs, several AmLaw 100 firms are reaping hefty legal fees for their work representing the bank, including Sullivan & Cromwell, Wilmer Cutler Pickering Hale and Dorr, and Paul Weiss Rifkind Wharton & Garrison.Justice Department Sues BP, Eight Other Defendants Over Deepwater Horizon Disaster
The 27-page complaint, filed under the Oil Pollution Act and Clean Water Act, seeks to hold BP responsible for government removal costs, economic losses, and environmental damages.Q&A: Fragomen's Bo Cooper on Immigration Reform's Potential Impact on Firm and Clients
With eight U.S. senators unveiling one approach to overhauling U.S. immigration laws Monday and President Obama outlining his own vision for reform in a Tuesday afternoon speech, momentum for addressing what has been a knotty political issue appears to be building. Against that backdrop, The Am Law Daily checked in with Bo Cooper, head of immigration-centric Fragomen, Del Rey, Bernsen and Loewy's government strategies and compliance group, about the possible impact reform would have on the firm and the companies it advises.Five Firms Hoist Extended Stay Out of Bankruptcy in $3.9 Billion Deal
The bankruptcy of Extended Stay Hotels, the largest Chapter 11 case ever filed by a U.S. hotel owner, came to an end on Friday as the Spartanburg, S.C.-based hotel chain was sold to a private equity consortium in a $3.93 billion deal.Trending Stories
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