Law Firms

Some Law Firms Prepaid 2009 Expenses in Anticipation of a Down Year

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Some large law firms anticipating a tough year in 2009 braced themselves by prepaying some expenses last year.

The American Lawyer says these firms were among those opting to prepay:

• Gibson, Dunn & Crutcher, which prepaid 2009 expenses for online research and firm events.

• Dechert, which prepaid about $29 million in expenses, including rent payments for all its offices for the first quarter.

• Crowell & Moring, which prepaid insurance and vendor fees.

• Arent Fox, which prepaid January 2009 rent for its three offices.

• Snell & Wilmer, which prepaid some expenses such as rent and insurance costs. The firm’s chairman, John Bouma, says the firm has a long-standing practice to prepay.

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