Bharara Criminal Chief Joins Paul Weiss: Business of Law

Lorin Reisner, who heads the criminal division at the Manhattan U.S. Attorney’s office, is leaving his post to join New York law firm Paul Weiss Rifkind Wharton & Garrison LLP.

Reisner, 52, will join Paul Weiss next month as a partner in the litigation department, focusing on white-collar crime and government investigations, according to a company statement yesterday.

“Lorin’s depth of experience in securities and commodities fraud and white-collar crime make him an invaluable asset to our clients and our firm,” Allan Arffa, partner and co-chairman of the litigation department, said in the statement.

Reisner will be succeeded by Bharara’s chief counsel, Joon Kim. Daniel Stein, a partner at Richards Kibbe & Orbe LLP, will replace Kim.

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Sullivan & Cromwell Tops Projected M&A Tables for Second Quarter

Sullivan & Cromwell LLP is projected to be the second quarter’s top legal adviser, with a total deal value of $224 billion, moving up 16 spots from the second quarter 2013 rankings.

Sullivan & Cromwell holds 25 percent of the legal advisory market share, 6 points higher than any other law firm.

Cleary Gottlieb Steen & Hamilton LLP is second, and Skadden, Arps, Slate, Meagher & Flom LLP is third.

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Wachtell Advises Alcoa on $2.85 Billion Purchase of Firth Rixson

Wachtell, Lipton, Rosen & Katz is advising Alcoa Inc., the largest U.S. aluminum producer, which agreed to buy the U.K. aerospace-components maker Firth Rixson Ltd. for about $2.85 billion in stock and cash. Firth Rixson’s legal adviser is Paul, Weiss, Rifkind, Wharton & Garrison LLP.

Wachtell Lipton’s team is led by corporate partners Martin Lipton and Karessa L. Cain and includes partners David E. Kahan, executive compensation and benefits; Martin J.E. Arms, litigation; Gregory E. Pessin, restructuring and finance; and Deborah L. Paul and T. Eiko Stange, tax.

Paul Weiss’s team includes partners Robert Schumer; David Lakhdhir, corporate; David Sicular, tax; Robert Fleder, employee benefits; and Daniel Beller, litigation.

Weil advised Morgan Stanley in connection with the bridge financing for Alcoa.

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LSE to Buy Frank Russell for $2.7 Billion to Boost Indexes

Kirkland & Ellis LLP represents the London Stock Exchange Group Plc, which agreed to buy Frank Russell Co., a unit of Northwestern Mutual Life Insurance Co., for $2.7 billion to bolster its FTSE International Ltd. business. Skadden, Arps, Slate, Meagher & Flom LLP is representing Russell Investments.

The Skadden Arps team includes New York-based partner David Hepp, mergers and acquisitions.

The Kirkland team is led by corporate partners Stephen Fraidin, Sean Rodgers and Joshua Soszynski.

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Greenberg Traurig Adds Second Patton Boggs Partner

Former Patton Boggs LLP partner Michael Schaengold joined Greenberg Traurig LLP’s Washington office and will be co-chairman of the government contracts and projects practice.

Robert S. Brams, Patton Boggs’s construction law group chairman, last week joined the firm to co-chair the Washington-based government contracts and projects practice.

Patton Boggs recently merged with Squire Sanders to create Squire Sanders Boggs, which has 1,500 lawyers in 44 offices.


Dreier Judge Approves More Than $18 Million in Professional Fees

Professionals who recovered assets for distribution to victims of the Marc Dreier Ponzi scheme, which prosecutors say cost investors more than $400 million, will be paid more than $18 million in fees.

Sheila M. Gowan, appointed as trustee when Dreier’s firm went into Chapter 11 bankruptcy, was awarded a $300,000 “enhancement” by Bernstein, increasing her total award to about $1.45 million.

The trustee’s lawyers at Diamond McCarthy LLP will be paid the $11 million they requested.

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Howard Baker, Senator Who Led Reagan White House, Dies at 88

Howard Baker Jr., who played key roles in Ronald Reagan’s presidency as legislative “spear-carrier” in the U.S. Senate during the administration’s triumphant first year, and as a steadying hand inside the White House during its troubled later years, has died. He was 88.

He died yesterday at his home in Huntsville, Tennessee, according to John Tuck, a senior adviser in the Washington office of Baker, Donelson, Bearman, Caldwell & Berkowitz PC, the law firm where he was senior counsel. The cause was complications from a stroke he suffered on June 21.

The namesake son of a seven-term congressman and son-in-law of Senate Republican leader Everett Dirksen, Baker represented Tennessee in the Senate for 18 years, rose to majority leader and ran for president before replacing Donald Regan as Reagan’s chief of staff.

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Antitrust Fines Climb in U.S., Europe at Midyear, Law Firm Says

Global penalties for antitrust violations are expected to reach record levels in 2014 as regulators step up enforcement, according to a report by the London-based law firm Allen & Overy LLP.

The U.S. Justice Department’s antitrust division levied fines of $709 million in the first half of fiscal 2014, more than three times the amount in the first half of fiscal 2013, the report found. The European Commission has imposed penalties of 1.41 billion euros ($1.92 billion), compared to 1.9 billion euros in all of 2013.

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By Laurence Arnold By Keri Geiger

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