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Fox Rothschild's Revenue Up 10 Percent, PPP Up 3.6 Percent
Philadelphia-based Fox Rothschild was the rare Pennsylvania firm whose revenue rose by a higher percentage than its profits per partner in 2010. The firm's gross revenue in 2010 was about $239.3 million, up nearly 10.3 percent from 2009, when its gross revenue was about $217 million.Fla. Bar Urged to Help Estate Lawyers Avoid Ethics Pitfall
Some estate and trust lawyers are urging the Florida Bar to recommend tighter rules for their profession. Florida Supreme Court rules prohibit lawyers from being named as beneficiaries in the wills they draft for clients, but nothing stops them from being designated as personal representative or trustee. The head of the Bar's real property, probate and trust law section says too many lawyers "are writing themselves into documents for their own personal gain."Sunshine State Firm Bucks Trend, Raises Associate Pay
As other major law firms order layoffs and pay cuts, GrayRobinson is giving an average 8 percent raise to its associates. Tuesday's pay raises were as high as 15 percent, and 90 percent of associates received raises, said law firm president Byrd "Biff" Marshall Jr. The merit-based increases were decided on an individual basis. All support staffers at the firm, which has 10 offices throughout Florida, also are getting higher pay, he said. The raises were announced at a firm retreat last weekend.Despite Bank's Foreign HQ, Former Exec Can Sue for Legal Fees
A former VP of Banco Industrial de Venezuela in Miami can sue the bank under Florida's indemnification statute even though the bank is headquartered in Caracas. Some lawyers worry that the ruling, the first time a Florida appellate court has considered whether foreign companies, including out-of-state U.S. corporations, are subject to the statute, means companies will have to comply with different requirements in every state.Akerman Cutting Associate Pay by 10 Percent, Say Sources
Akerman Senterfitt has announced it is cutting associate pay by 10 percent, according to sources familiar with the firm. The pay cuts were reportedly ordered in an effort to prevent job cuts, which may be the next course of action if the economy doesn't improve soon. The firm is also said to be shifting away from lockstep raises and plans to implement a merit-based compensation system. One source said bonuses may zero out the pay cut's impact for high-performing associates.Dolphin Mall owner adds to line of credit
The owner of the Dolphin Mall added more than $75 million to an existing line of credit secured by the west Miami-Dade County retail center and two out-of-state properties.Trending Stories
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