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Baker Botts Hits $100 Million Mark In Asarco Bankruptcy
Firm News |
2009/08/31 16:09
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According to The American Lawyer, as Tucson, Ariz.-based mining company Asarco nears the end of its four-year bankruptcy odyssey, lead debtors counsel Baker Botts submitted its 12th application for fees on Friday.
The filing put the firm past the $100 million mark in billable hours since Asarco filed for bankruptcy in August 2005 after getting hit with a series of asbestos and environmental pollution suits.
It pales in comparison to the $100 million in fees that Weil, Gotshal & Manges has racked up in just a year's worth of bankruptcy work for Lehman Brothers, but Baker Botts may have more work ahead.
"This is probably the middle of the end, and the end should certainly be in sight," Baker Botts bankruptcy and insolvency Chair Jack Kinzie says. "The final closing argument on the confirmation hearing was today and we expect a ruling from the judge on Monday." |
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Lawyers And Firms Stake Claims In Masry & Vititoe Bankruptcy
Firm News |
2009/08/28 17:33
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According to The National Law Journal, at least four lawyers and law firms are among the top creditors of Masry & Vititoe, the personal injury law firm of "Erin Brokovich" fame that filed for Chapter 11 bankruptcy protection on Aug. 14.
The firm, based in Westlake Village, Calif., said in bankruptcy court papers that it has spent $3 million defending lawsuits filed by the family and estate of former name partner Edward Masry, who died in 2005.
"Not only did a number of litigants come forward alleging that Mr. Masry had promised them certain assets and cash from the firm, additionally, his own estate and heirs instituted claims which have caused the firm to spend its resources, in time and staff, defending such claims," the firm said in an Aug. 24 motion seeking cash collateral in order to keep operating. |
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Cadwalder, Katten, Dewey Jump Into Coyotes Fray with NHL
Firm News |
2009/08/27 16:16
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According to the American Lawyer, it's complicated, it's happening all the way in Phoenix, and it involves the least popular of the nation's Big Four pro sports leagues, but the Phoenix Coyotes bankruptcy case is shaping up to be the year's landmark sports law case. The big question hovering over the entire proceeding: Who ultimately has the authority to decide who can own a team and where that team plays--a professional sports league or a bankruptcy court judge?
The National Hockey League, represented by Skadden, Arps, Slate, Meagher & Flom, believes such power rests with the league, and it has taken the highly unusual step of submitting its own bid to purchase the Coyotes over a rival bidder who might relocate the franchise to Canada. Though the exact amount of the NHL's bid is undisclosed, it is widely assumed to be far less than the current high bidder--Jim Balsillie, a Canadian businessman and hockey fanatic who has long desired to buy a U.S.-based NHL team and move it to Hamilton, Ontario, about an hour north of Toronto. Balsillie, who owns the company behind the Blackberry, has bid $212.5 million for the Coyotes, an amount that would likely produce the best deal for the Coyotes' creditors. Phoenix-based Lewis & Roca is serving as Balsillie's bankruptcy counsel, but the firm recently retained Dewey & LeBeouf sports law heavyweight Jeffrey Kessler to depose high-ranking NHL officials, court records show. |
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Chadbourne to Open in Northern California
Firm News |
2009/08/26 22:52
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According to The Recorder, New York's Chadbourne & Parke is swooping into Northern California with the hire of a Yahoo in-house IP lawyer in Silicon Valley. Duane Valz, associate general counsel of global patents, will be joining the firm next month as it makes its first foray into the Bay Area. Valz said it was still unclear where Chadbourne's new office would be located: San Francisco or Silicon Valley. The move comes in a tough economic year when only one other major firm, Haynes and Boone, has opened up shop in Silicon Valley. Chadbourne, with its 400 lawyers and offices around the world, joins a clutch of New York firms like Skadden, Arps, Slate, Meagher & Flom and Davis Polk & Wardwell that have already been in the region for years. |
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Foley & Lardner Sued For Allegedly Revealing Trade Secrets
Firm News |
2009/08/25 16:25
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The National Law Journal reports that a patent holding firm has sued Foley & Lardner for allegedly revealing confidential information and for undermining the company's settlement negotiations during a separate lawsuit.
Virginia-based SPH America, a company formed in 2008 by former Fish & Richardson associate Choongoo Park, filed suit against Foley Friday at the US District Court for the Eastern District of Virginia, alleging breach of contract, misappropriation of trade secrets and contract interference, among other claims.
Foley represented Japanese electronics manufacturer Kyocera in 2008 after SPH brought a patent infringement case against the company over technology used in its cell phones. According to last week's complaint, Foley allegedly publicized confidential information it gained during the course of that case by incorporating it in another lawsuit. |
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Skadden To Cut Summer Class By Half, Change Recruiting Process
Firm News |
2009/08/24 20:51
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The American Lawyer reports that Skadden, Arps, Slate, Meager & Flom is cutting the size of its 2010 summer associate class by half and adjusting its recruitment strategy by making all of its offers on a single day in late September, according to a copy of a letter the firm will send to prospective summers.
Skadden hired 225 summer associates this year and expects to hire a little more than 100 next year, though the precise figure will depend on offer acceptance rates, says Howard Ellin, Skadden's recruiting partner.
The firm will not rescind offers to any prospective 2010 summers; if, say, 150 summers accept, the firm will hire all 150 even though that number exceeds the figure it currently has in mind, Ellin says.
The idea of rescinding offers "is unprofessional and a shock to our conscience," he says. |
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Healthcare Expert Ken Yood Joins Sheppard Mullin
Headline News |
2009/08/21 16:12
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| A press release distributed by Sheppard Mullin today states that Kenneth Yood has joined the Los Angeles/Century City office of Sheppard, Mullin, Richter & Hampton LLP as a partner on the firm's Healthcare team and in the Corporate practice group. Yood joins Sheppard Mullin from Fulbright & Jaworski in Los Angeles.
Ken Yood represents healthcare providers and healthcare companies, including specialty and general acute hospitals (including local district, nonprofit and for-profit facilities), home health agencies, pharmaceutical vendors, nursing facilities, and health information and management providers. Yood has expertise in Medicare and Medicaid reimbursement and certification, state licensing, and federal regulatory compliance. He also counsels clients on physician referral law limitations, state and federal fraud and abuse issues, and state and federal false claims and program fraud matters. Additionally, Yood helps clients operate and establish healthcare compliance programs, as well as internal and external investigations of healthcare facilities.
"Ken is an impressive healthcare attorney with an excellent reputation in the industry, who brings significant knowledge and expertise to the firm. Ken's experience in healthcare regulatory and reimbursement matters dovetails well with our interdisciplinary healthcare practice. Additionally, his transactional expertise will be of value to our private equity clients, as investment interest in this area heats up," said Guy Halgren, chairman of the firm.
Commented Yood, "With a growing healthcare group, a well-established position in California and a very strong healthcare labor practice, Sheppard Mullin is a perfect platform for my practice and clients. The firm has an entrepreneurial and collegial culture, which I value highly. I look forward to working closely with partner Eric Klein in Century City, whole ads the firm's Healthcare team."
Yood received a J.D. from University of New York at Buffalo School of Law in 1989, a M.A. in Public Health from Harvard University in 1990 and a B.A. from Haverford College in 1986. He has been recognized as a leading healthcare lawyer in Chambers USA: America's Leading lawyers for Business since 2005. Also today, Louis Lehot joined Sheppard Mullin's Corporate practice group as a partner in the Silicon Valley office from Simpson Thacher & Bartlett in Palo Alto. Earlier this year, Brian Weimer joined the Sheppard Mullin's Washington, D.C. office and Todd Bissett joined the firm's Shanghai office as partners in the Corporate practice group. Weimer joined from Latham & Watkins in Washington, D.C. and Bissett joined from O'Melveny & Myers in Beijing.
Sheppard Mullin has 200 attorneys based in its Los Angeles offices (Downtown and Century City). The firm's Corporate practice group includes more than 100 attorneys firm wide and the Healthcare team includes more than 20 attorneys. |
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