December 10, 2009 6:02 PM

Bankruptcy Border War Ends With Milbank Win For Grupo Mexico

A four-year bankruptcy battle for control of Asarco ended on Wednesday when the Tucson-based mining company emerged from Chapter 11 and into the arms of its long lost parent, Grupo Mexico. It was the largest environmental claims settlement in bankruptcy history--and probably worth more than $200 million in billable hours to legions of lawyers.

12/10/09 Posted by Brian Baxter

Breaking: Ex-Ropes Lawyer Pleads Guilty in Connection with Galleon Case

A former Ropes & Gray lawyer--the second snared in the Galleon Group insider trading scandal--has pleaded guilty to stealing client information.

12/10/09 Posted by Zach Lowe

The Work

Antitrust Matters Loomed Large in Panasonic-Sanyo Tie-up

Panasonic announced Wednesday that it now owns a majority stake of rival Sanyo, creating one of the world's largest electronics makers--and providing antitrust work for Weil, Simpson, Thacher, and Arnold & Porter.

12/10/09 Posted by Julie Triedman

The Talent

Second Chance for Former Locke Lord Partner Ends in Dismissal

Hiring a former Am Law 100 partner once charged with insider trading apparently didn't end well for Locke Lord Bissell & Liddell. Court documents show the firm fired David Schwinger earlier this year in what Locke Lord characterizes as an "internal partnership dispute." The firm hired Schwinger two years ago after the lawyer settled insider trading charges filed by the SEC.

12/10/09 Posted by Brian Baxter

The Firms

Associate Pay Cuts Here to Stay, Say Firms, Analysts

Firm leaders and consultants are calling the latest round of associate compensation cuts a paradigm shift, though the new paradigm, it seems, is a flexible one.

12/10/09 Posted by Julie Triedman

The Firms

Succession Proceeding as Planned at Sullivan

The firm is sticking to its plan to have Rodge Cohen step down as chair on Jan. 1.

12/10/09 Posted by Zach Lowe

The Firms

Revealed: Visions of Heller's "Mortality" and "Post-Traumatic Brobeck Syndrome"

Our sibling publication The Recorder dug up a binder full of confidential exhibits in mediation talks between Heller Ehrman's creditors and the firm's ex-shareholders, and the contents provide a fascinating glimpse into the demise of a legal titan.

12/10/09 Posted by Zach Lowe

The Am Law Litigation Daily -- Dec. 10, 2009

In a withering cross, a Craigslist lawyer wrings concessions from eBay's deputy GC; for the first time since a trio of suits accused Barclays of conspiring to deceive Lehman and its creditors, the bank has filed a response; and Rambus's U.S. litigation will continue despite an antitrust settlement with the E.C.

12/10/09 Posted by Alison Frankel

The Talent

December 9, 2009 5:50 PM

A Class for Change

Law schools should teach much more than contracts, torts, and constitutional law. The curriculum, argues contributor Silvia Hodges, an adjunct professor at Fordham Law School, must include courses in the basics of business and law firm management.

12/09/09 Posted by Dimitra Kessenides

The Work

One Last Sip from the Coffee Cup

Peet's may have lost its bid to takeover Diedrich Coffee but it didn't come away empty-handed. Under the terms of its original deal with Peet's, Diedrich had to pay Peet's an $8.5 million breakup fee because of an unusual clause in the contract. 

12/09/09 Posted by Zach Lowe