Jones Day loses second key bankruptcy player

Jones Day has suffered another massive blow to its worldwide bankruptcy ambitions after losing the chair of its practice to Gibson Dunn & Crutcher.
Richard Cieri, the highly-rated chairman of Jones Day’s entire bankruptcy group, has already taken up an equivalent role at Gibson Dunn’s New York office, where he will oversee the business restructuring and reorganisation department.
Cieri’s move is an untimely development for Jones Day, which last week lost John Rapisardi, co-chair of its New York restructuring group, back to Weil Gotshal & Manges, which he had quit just a year and a half earlier.
In London, however, Jones Day Gouldens recruited Adam Plainer from SJ Berwin to build up a restructuring group, while the highly-rated Corinne Ball, who was the first of three Weil Gotshal partners to move to Jones Day’s New York office, will continue to grow the firm’s practice.