'Delicate Dance' for Winston: How to Hire Many Howrey Partners, Without Being Sued?
As observers wait to see what happens with Winston & Strawn’s reported offers to nearly 200 of Howrey’s remaining partners, another question is on many minds: How can the firm potentially hire so many Howrey lawyers without taking on successor liability?
While Winston would likely have no problem executing this “delicate dance” if Howrey avoids bankruptcy, Howrey may not be able to avoid bankruptcy given the many leases at issue concerning its 16 offices, reports the Am Law Daily.
Another concern is possible layoff litigation by Howrey staff.
“Landlords are tenacious and difficult to work with,” says attorney Jonathan Landers of Milberg, who has advised on the dissolutions of Brobeck Phleger & Harrison; Heller Ehrman; and Thelen. A landlord, he notes, pushed Brobeck over the brink into insolvency.
Earlier coverage:
ABAJournal.com: “As Howrey Hemorrhages, Observers Speculate re Possible Debt Issues, Winston Exposure”
ABAJournal.com: “‘Revolution of Rising Expectations’ Has Hurt Howrey, Where $600K PPP Was Once the Norm”
ABAJournal.com: “17-Lawyer Howrey Group, Including New MP of Brussels Office, Heading to Shearman & Sterling”
ABAJournal.com: “Howrey VC Recounts Problems: Quick Growth, Lower Profits and Partners Who ‘Bailed on Us’”
