In a noteworthy development, Mayer Brown’s bankruptcy team successfully steered GWG Holdings through a 16-month Chapter 11 process, marking the most significant debtor-side restructuring in the firm’s history. The sensitive case involved the entire board resignation of the company and an investigation into GWG’s downfall by the Securities and Exchange Committee. More details on this matter can be found on The American Lawyer.
In another development catching the legal industry’s attention, Mary L. Smith, the new leader of the American Bar Association (ABA), took a firm stance against new challenges to law firm diversity recruiting efforts. Those recent hurdles have come predominantly from conservative lawmakers and advocates. In her statement, Smith emphasized the need for law firms, law schools, and employers to redouble their commitment towards creating a more diverse and inclusive environment. You can find her full statement on the American Bar Association website.
Furthermore, Rutgers University Law School has achieved a historic milestone, with its latest class having the highest proportion of women in the institution’s history. Over half of the 400 students who recently began their studies at the school are women. More about this achievement can be found on the Rutgers Law School’s LinkedIn page.
Finally, in lateral moves, Howard Kleinman has become a member of McDermott Will & Emery as a partner in its transactions practice group. More information on this and other recent lateral movements across the field can be accessed on Bloomberg Law’s business and practice section.