Weil Gotshal figures reveal slight revenue rise

Weil Gotshal & Manges has reported a 4 per cent hike in global revenue for the 2008 financial year.

The US firm’s revenue increased by 4 per cent from $1.18bn in 2007 up to $1.23bn in 2008. This compares with a 12.4 per cent hike last year from $1.05bn in 2006.

In 2008, Weil Gotshal was instructed on a string of credit crunch-related deals. These included bankruptcy star Harvey Miller advising Lehman Brothers on its Chapter 11 filing in September (15 September).

In the UK, Premier Foods drafted in London-based Weil Gotshal partner Ian Hamilton to advise on its restructuring of its £1.7bn debt burden.

The firm’s figures contrast with those of a number of US firms that have reported a dip in revenue or profits per equity partner (PEP) for the last financial year.

Earlier this month, McDermott Will & Emery reported a revenue drop of 1.2 per cent drop from $978m in 2007 to $966m in 2008 (16 January).

Cadwalader Wickersham & Taft reported a 13.8 per cent revenue drop from $587m in 2007 to $506m in 2008.

Weil Gotshal was unavailable for comment.

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