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New York Law Journal

Law Firms Sue Clients for Unpaid Legal Fees as Big Law Collection Goals Ramp Up

Gibson Dunn, Baker McKenzie; ArentFox and Dorsey & Whitney are among those who have filed claims in New York lately, whether in court or arbitration.
4 minute read

The Legal Intelligencer

Phila., Del. Firms Handling UArts' Ch. 7 Petition Fall Far Below Top Bankruptcy Rates

Fox Rothchild's Michael Menkowitz, formerly the firm's financial restructuring and bankruptcy chair, has the highest rate among all the attorneys listed on the matter, bringing in $1,160 per hour.
3 minute read

The American Lawyer

Cutting Partner Compensation Becomes Routine in Big Law

Some firms are making sharper pay cuts of partners, helping them pay their top performers.
5 minute read

The American Lawyer

Are Single-Tier Partnership Law Firms Fighting the Wind?

Recruiting and retaining senior associates—that gold mine of Big Law leverage—may now be more challenging to single-tier firms.
6 minute read

The American Lawyer

Partner Cuts: The Grim Reality of Post-Merger Integration

A&O Shearman is now following the trajectory of other big law firm mergers that saw partner cuts shortly after deal completion.
7 minute read

The American Lawyer

Setting Partner Comp: Are Law Firms Now Too 'Short-Term Focused'?

"People are less patient than they have ever been before. People want to be awarded now," noted one consultant.
4 minute read

Law.com

Top 5 Strategies for Managing the End-of-Year Collections Frenzy

End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
6 minute read

The American Lawyer

Cleary Creates Nonequity Partner Tier, Calling for 'Innovation and Adaptation'

"We are not doing it to create a different leverage model within the firm," said managing partner Michael Gerstenzang. "We are doing it to create more opportunities in promotion and development."
5 minute read

The American Lawyer

As Law Firms Set Partner Comp and Budgets for 2025, Leadership Manages Expectations

"There's a difference from what they tell their partners and what they expect," said one consultant about some firms' budget for the coming year.
6 minute read

The American Lawyer

Deal Watch: Gibson Dunn, Latham, Wachtell, Akin, Simpson, Ropes Advise on Big Deals as M&A Activity Climbs

Big firms are continuing to land on megadeals. Over the last nine days, there were at least three deals exceeding the $7 billion mark.
9 minute read

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