A $30 Million Revenue Hole for Shearman After Mass Departure

big legal fees in Big Law

A new arbitration boutique law firm to have offices in Paris, London and New York has been started with eight of Shearman & Sterling’s arbitration partners, including global arbitration heads Emmanuel Gaillard and Yas Banifatemi.

The departure of more than 38 lawyers is believed to leave the Big Law heavyweight with an estimated $30 million hole in revenues in respect of the lucrative arbitration law work handled by the division.

Read more at Law.com

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