Bring Out The Lawyers: Madoff Rescues NYC Law Firms

The Bernard Madoff case may be the biggest thing New York law firms have going right now. The case is providing business during a year that may be the slowest in decades, when many law firms have been forced to slash bonuses or layoff employees. At least a couple of prominent law firms have actually disolved.

So, you know, the misfortune of the many is a boon to the lawyer. And they wonder why people hate them.

Here’s a quick run-down, courtesy of Bloomberg:

Dickstein Shapiro: Madoff’s lawyer, Ira Sorkin, works out of this office.

Baker Hostetler: Irving Picard has taken the assignment from the Securities Investor Protection Corp, in order to

Paul, Weiss, Rifkind, Wharton & Garrison: Representing Madoff’s sons Mark and Andrew.

Simpson Thacher: advising Walter Noel’s Fairfield Greenwich Group.

Boies Schiller & Flexner: sued Fairfield on behalf of investor. Representing more than 50 clients in connection with the Madoff fraud.

Dechert: Representing Ezra Merkin, who raised money for Madoff through his Ascot hedge fund.

Proskauer Rose: Represents perhaps the largest number of individuals who lost money in the Madoff scam. It has formed a 20-lawyer Madoff task force.

Other law firms involved: Sullivan & Cromwell;  Shearman & Sterling; and Schulte, Roth & Zabel.


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