Posts on ‘February 24th, 2009’
Former Merrill Lynch CEO Ordered to Testify About Billions in Bonuses
A New York judge has ordered former Merrill Lynch CEO John Thain to testify about $3.6 billion in bonuses paid to Merrill employees before the company was sold to Bank of America. Initial reports of the bonuses came just days after BofA received $20 billion from the government that it said it needed to help offset the losses it was absorbing from the Merrill acquisition. New York’s attorney general subpoenaed Thain last month in connection with his office’s investigation into the timing of the bonuses.
Law Firms Charging Up to $995 an Hour for Newspaper Publisher Bankruptcies
On Sunday, two more newspaper publishing companies joined the Tribune
Co. and others in the news business in filing for bankruptcy.
Philadelphia Newspapers has signed up Proskauer Rose and Dilworth Paxson
for the work. Proskauer partners will charge up to $975 an hour; the
lead Dilworth partner on the case will charge $675, court papers show.
The Journal Register Co. tapped Willkie, Farr & Gallagher as lead
counsel. Partners will be billing a maximum of $995 per hour, court
records show.
Bail Denied for Chicago Lawyer in Double Slaying
The attorney accused of killing New York Knicks player Eddy Curry’s ex-girlfriend and her daughter was an abusive boyfriend who disputed $23,500 in legal fees with his victim, prosecutors alleged Monday. Fredrick Goings is charged with first-degree murder in the slayings of Nova Henry and her 10-month-old daughter, who both died of multiple gunshot wounds. A judge denied bail at a hearing Monday, where prosecutors said Goings and Henry became romantically involved after he represented her in a paternity case with Curry.
Bilzin Sumberg Cuts Attorney, Staff Positions
Bilzin Sumberg Baena Price & Axelrod has cut some attorney and staff positions, managing partner John Sumberg has confirmed. Sumberg declined to say exactly how many positions were cut, but sources say at least two attorneys and two secretaries in the firm’s corporate and real estate areas lost their jobs. Sumberg said the firm expects to have moderate growth going forward. “Our primary focus right now for growth is in litigation,” he says. “We’re actively looking for lawyers in that area.”