Ex-Client Loses TRO Bid to Ban Cravath in $5.1B Deal, But Could Win Next Round Next Week

Caught in the crossfire between current and former clients, Cravath Swaine & Moore can continue representing Air Products & Chemicals Inc.—at least until next week—in a $5.1 billion takeover bid for Airgas Inc., a Pennsylvania judge ruled today.

While Judge Albert Sheppard Jr. rejected a request by Airgas for a temporary restraining order against the renowned New York law firm, he scheduled a hearing next week in the Philadelphia case to hear a motion to disqualify Cravath, reports Bloomberg.

“This is quintessential adversity your honor,” argued attorney Jeffrey Weil, who represents Airgas. “You cannot represent two clients at the same time who are adverse.”

Cravath represented Airgas in… full story