New York’s Stroock absorbs bankrupt company after restructuring team exit

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  • Stroock adds six attorneys from Luskin, Stern & Eisler
  • Stroock lost a 43-lawyer restructuring team to Paul Hastings this spring.

(Reuters) – Stroock & Stroock & Lavan said on Monday it would bring in a team from bankruptcy and restructuring firm Luskin, Stern & Eisler, several months after New York-based Stroock lost most of its restructuring group. before a larger law firm.

Luskin, Stern & Eisler, based in White Plains, New York, will close its operations and six of its attorneys will join Stroock on August 1, a spokesman for Stroock said.

A partner and an associate will not be moving to Stroock, the spokesman said.

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Stroock, which has about 230 lawyers, lost a 43-lawyer financial restructuring team to Paul Hastings, a much larger firm, this spring. The team made up a large part of the company’s restructuring group, which accounted for 29% of Stroock’s revenue in 2021, a Stroock leader said at the time.

Luskin, Stern & Eisler’s team, which includes four partners, represents financial institutions in restructuring and bankruptcy matters, creditor rights litigation and financing transactions, according to Stroock.

Luskin, Stern & Eisler partner Richard Stern will co-chair Stroock’s bankruptcy and restructuring group along with Stroock partner Jeffrey Lowenthal, the firm said.

There have been at least three law firm combinations this month in which a larger firm takes over all or part of a smaller regional firm. Womble Bond Dickinson said last week it will bring in 17 attorneys in San Francisco through a combination with regional law firm Cooper, White & Cooper, while Greenspoon Marder absorbed nine attorneys from Los Angeles bankruptcy law firm SulmeyerKupetz. .

Read more:

Paul Hastings snatches 43-lawyer restructuring group from New York Stroock

Stroock’s deceased lawyers generated 29% of 2021 revenue, says firm leader

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Sarah Merken

Thomson Reuters

Sara Merken reports on privacy and data security, as well as the business of law, including legal innovation and key players in the legal services industry. Contact her at [email protected]

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