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June 30, 2016 | The Legal Intelligencer

A Tale of Two States: Puerto Rico and Chapter 9

Puerto Rico is in the midst of a ­financial crisis. Over the past few years, its public debt skyrocketed while its government revenue sharply declined. In order to address its economic problems and to avoid mass public-worker layoffs and cuts in public services, the unincorporated U.S. territory issued billions of dollars in face value of municipal bonds. These bonds were readily saleable to investors in the United States due to their tax-exempt status and comparatively high yields. Now, however, Puerto Rico is unable to service its extraordinary public debt and has begun to default. While the specific causes of this crisis can be debated, the U.S. Supreme Court in Puerto Rico v. Franklin California Tax-Free Trust, No. 15-233 (U.S. June 13, 2016) recently confirmed that two restructuring tools are unavailable to Puerto Rico and its distressed municipalities: relief under Chapter 9 of the U.S. Bankruptcy Code and local legislation providing for the nonconsensual ­restructuring of municipal indebtedness.
12 minute read
June 30, 2016 | The Legal Intelligencer

From Golden Girls to Tracing Lincoln's Footsteps: How These Pa. Lawyers Survived the Bar Exam

We asked several prominent Pennsylvania lawyers how they managed the stress of studying for the bar exam.
17 minute read
June 22, 2016 | The Legal Intelligencer

People in the News—June 23, 2016—Archer & Greiner

Stephanie J. Zane, a partner in the family law department of Archer & Greiner in Haddonfield, New Jersey, was elected to serve a four-year term on the national board of trustees of the American Inns of Court.
11 minute read
June 22, 2016 | The Legal Intelligencer

People in the News—Montgomery McCracken—June 22, 2016

Montgomery McCracken Walker & Rhoads announced the addition of two new associates.
7 minute read
June 16, 2016 | The Legal Intelligencer

List of Winners 2016

Here are the 2016 Lawyers on the Fast Track.
144 minute read
June 16, 2016 | The Legal Intelligencer

After Dechert's Pay Hike, Pa. Firms Watch and Wait, for Now

Dechert has raised its associate salaries across the country, starting at $180,000 for first-year associates. According to a memo obtained by The Legal, the new salary scale will be effective July 1. It includes salary increases for each class of associates, up to $315,000 for eighth-year associates and above.
44 minute read
June 16, 2016 | The American Lawyer

McDermott Adds Amid Leadership Change, Plus More Lateral Moves

A year after WilmerHale consolidated its London operations, one longtime partner has left for McDermott Will & Emery; Jones Day hires a trio; Shearman & Sterling snags one from Boies Schiller; and other notable additions from throughout The Am Law 200.
112 minute read
June 15, 2016 | Daily Business Review

Miami's Landmark Southeast Financial Center on Market

The 55-story tower and 15-story garage being offered by JPMorgan Chase is expected to trade for north of $645 million.
26 minute read
June 13, 2016 | Daily Business Review

Duane Morris Attorney Gets Letter From Bar Committee for Bungled Order

The Florida Bar has closed its investigation of Duane Morris partner Lida Rodriguez-Taseff.
16 minute read
June 13, 2016 | The Legal Intelligencer

Pa. Firms Ride National Wave of Growth in IP Practices

As large firms across the country beef up their intellectual property practices, Pennsylvania firms have played a major role in the lateral and acquisition activity, and firm leaders expect these hires and deals to continue in the near future.
6 minute read

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