Kirkland Snags Weil Gotshal Partner—And Seeks Its #1 Bankruptcy Rep
Considered for years the biggest name in corporate bankruptcy practice by many observers, Weil Gotshal & Manges is facing a challenge to its reputation as the nation’s premier insolvency shop from a relative upstart.
The departure of partner Christopher Marcus for the firm’s arch-competitor in the bankruptcy arena is the latest in “a long line of one-way traffic” from the New York City-based Weil firm to Chicago’s Kirkland & Ellis, reports the Lawyer.
It cites as additional examples the departure of partner Paul Basta from Weil for Kirkland, in 2006, and the move made by associates Nicole Greenblatt, Catherine Peschkin and Joshua Sussberg earlier this year.
The departure of some Weil Gotshal insolvency partners to other law firms has also weakened the firm’s dominance of the corporate bankruptcy practice, the legal publication points out. Chief among these losses was Martin Bienenstock’s announcement last year that he was moving to Dewey & LeBoeuf.
While Kirkland has made significant gains against Weil in the New York market, however, Weil probably remains the stronger force in key London, French and German cities, according to the Lawyer.
“Weil will continue to capitalize on its reputation in restructuring across its network,” the legal publication writes. “But given that Kirkland has lured a number of crucial lawyers away after a significant number defected to Dewey and Cadwalader, Weil will have to fight to make the most out of the coming restructuring boom.”
Earlier coverage:
ABAJournal.com: “Kirkland Vies With Weil Gotshal for Top Bankruptcy Reputation”
New York Law Journal: “Weil Gotshal Bankruptcy Partner Joins Kirkland & Ellis”
