The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Cadwalader Wickersham & Taft and Stroock & Stroock & Lavan look set to be the big winners in the bankruptcy cases of Northwest Airlines and Delta, with both firms generating huge fees.
Before its case has even reached court, Northwest has spent more than $12m (£6.7m) on retainers and legal advice. Cadwalader's New York office has received payments of $5.6m (£3.1m) from Northwest.
The stricken airline has also paid the firm $1m (£550,000) towards future fees, but the payment is unlikely to last long, with the firm billing between $590 (£330) to $800 (£440) an hour for partners and up to $645 (£360) per hour for other lawyers.
On Delta, partners at Stroock bill between $550 (£300) and $950 (£530) an hour, with paralegals billing at rates of $170 (£90) to $275 (£150) an hour.
Airline restructurings have proved profitable for US firms. In 2004 Kirkland & Ellis submitted a bill of $59.7m (£33.1m) for fees and expenses on the bankruptcy of United Airlines' parent company UAL.