November 2007

 

Bigger Isn’t Always Better When It Comes to Outside Counsel

General counsel are increasingly turning to small firms and solo practitioners
Corporate legal clients once again seem to be developing an affinity for small law firms—notwithstanding the merger mania of recent years and the perception that large corporations want to hire only megafirms.

 

Delaware High Court Nixes “Deepening Insolvency”

Decisions limit creditor claims against directors
The Supreme Court of Delaware has dealt a twofisted blow to the controversial theory of “deepening insolvency,” holding that this cause of action is untenable under Delaware law and that individual creditors have no right to assert direct claims for breach of fiduciary duty against corporate directors and officers, regardless of whether the corporation is actually insolvent or operating in the so-called zone of insolvency.

Lawyers Approaching Retirement Age Face Career and Lifestyle Decisions

Many lawyers resist retirement while others embrace change, pro bono opportunities
Next year the first ranks of the baby boom generation will begin turning 62, which was once considered normal retirement age. The baby boomers, generally considered to include those born from 1946 through 1964, constitute a substantial portion of the population and includes Presidents Clinton and George W. Bush.