Anthony Lin

November 28, 2007 | Law.com

Thacher Proffitt & Wood informed about 50 associates Tuesday that their futures at the firm were uncertain because of the collapse of the market for mortgage-backed securities, an area where the firm had had a leading practice. Among those impacted by the warning were 24 non-first-year associates who were told they were almost certain to be laid off in January unless the credit market substantially improved. Also, 29 first-years were offered the option of taking four months' severance and leaving the firm.

By Anthony Lin

2 minute read

March 05, 2007 | National Law Journal

Chicago's Mayer, Brown, Rowe & Maw has announced a major restructuring calling for the termination -- or "de-equitization" -- of 45 of its partners, around 10 percent of its total. A spokesman for the 1,500-lawyer firm said the move, first reported in the Chicago Tribune, primarily affected U.S. partners, but he declined to name them. Rival Chicago firm Sidley Austin's 2000 move to de-equitize partners is the subject of an EEOC lawsuit, which claims the firm discriminated on the basis of age.

By Anthony Lin

2 minute read

September 11, 2007 | Law.com

The Internal Revenue Service has granted a one-year extension for companies to comply with �409A of the Internal Revenue Code, just a few weeks after 92 large law firms wrote Acting IRS Commissioner Kevin Brown to request such an extension. Section 409A was introduced to eliminate abuses associated with executive deferred compensation plans, but many firms say the deadline did not give clients enough time to review their compensation agreements.

By Anthony Lin

1 minute read

April 27, 2007 | Law.com

Simpson Thacher & Bartlett has opened its Beijing office with a partner recruited from British law firm Freshfields Bruckhaus Deringer. Douglas Markel, a mergers and acquisitions lawyer, has practiced in Beijing for 16 years.

By Anthony Lin

1 minute read

February 08, 2007 | The Legal Intelligencer

Texas litigation boutique Susman Godfrey has expanded its New York office by recruiting one partner and relocating another.

By Anthony Lin ALM

1 minute read

August 10, 2007 | Corporate Counsel

Private equity firm Thomas H. Lee Partners, which recently sued Mayer, Brown, Rowe & Maw over the law firm's role in the collapse of commodities brokerage Refco, was itself sued Wednesday by Refco's creditors. The complaint filed in New York federal court is seeking almost $1 billion in damages. It alleges that Lee, which bought a controlling interest in Refco in 2004, knew about serious problems with Refco internal governance, but concealed or ignored them because it wanted to proceed with an IPO.

By Anthony Lin

2 minute read

February 05, 2007 | National Law Journal

London's Linklaters has appointed Simon Davies as its new firmwide managing partner. Davies, 39, had previously been the Hong Kong-based Asia managing partner for the 2,300-lawyer British firm, one of London's Magic Circle of five leading corporate law firms.

By Anthony Lin

1 minute read

June 05, 2008 | Law.com

A Manhattan federal magistrate judge has ruled that a legal malpractice claim may proceed against a law firm for failing to bring defamation claims on behalf of a client in a high-profile sexual harassment and discrimination case.

By Anthony Lin

3 minute read

January 01, 2003 | Law.com

The lawyer/client relationship has just gotten a little more impersonal. Where outside counsel once solicited business over long dinners and endless rounds of golf, one company has decided that Internet chat rooms and online auctions will work just as well.

By Anthony Lin

3 minute read

May 09, 2008 | Law.com

Paul, Weiss, Rifkind, Wharton & Garrison has elected Brad S. Karp as its next chairman. Karp, the co-chair of Paul Weiss' litigation department and a member of the firm's management committee, will take the top leadership spot in January. Karp, 48, who began his career at Paul Weiss as a summer associate in 1983, said Thursday he saw his main task ahead as maintaining Paul Weiss' culture at a time when the profession in general has become more obsessed with the bottom line.

By Anthony Lin

2 minute read