Latham & Watkins has made a significant move in the legal restructuring domain by recruiting four key partners from Weil Gotshal & Manges and Paul Weiss, a decision expected to impact the firm’s positioning significantly in the industry. The latest additions to Latham include Ray Schrock, previously a co-chair at Weil, who will now chair Latham’s global restructuring practice. Schrock has been involved in high-profile bankruptcy cases, such as those of AMC Entertainment and Sears Holdings Corp., demonstrating his expertise in handling complex restructuring matters.
Joining Schrock are former Weil colleagues Candace Arthur and Alexander Welch, alongside Andrew Parlen from Paul Weiss. Parlen will head the US restructuring efforts at Latham and brings with him experience in handling debtor-side representations for notable entities such as Diamond Sports Group and Revlon.
The recruitment of these partners reflects Latham’s strategic ambition to enhance its restructuring capabilities and challenge the dominance of Kirkland & Ellis in the field. As reported by Bloomberg Law, Rich Trobman, Latham’s chair and managing partner, expressed that these hires signify a step toward their goal of building a leading restructuring practice globally.
George Davis, the predecessor of Schrock at Latham, will remain with the firm, highlighting a well-managed transition within the restructuring team. The new team’s connection with major companies and financial backers, coupled with their expertise, is expected to beneficially align with Latham’s established private equity and public company practices.
This development follows Latham’s recent acquisition of Joe Zujkowski from Gibson Dunn, further demonstrating the firm’s commitment to bolstering its restructuring group. Meanwhile, Weil, credited with pioneering restructuring practices under Harvey Miller, faces the departure of another practice leader, indicating a transitional phase for the firm.