From the WSJ Law Blog:
Irving Picard, who last week was tapped to liquidate the now-infamous Bernard L. Madoff Investment Securities LLC, has left Gibbons to join Baker Hostetler, bringing the firm a steady stream of trustee-related work. Picard is a favorite of SIPC — the Securities Investor Protection Corporation — which is responsible for picking trustees to handle brokerage liquidations…
Picard, who has been holed up in the Lipstick Building, where the Madoff firm is headquartered, joins several other former Gibbons lawyers, including David Sheehan, who all joined Baker earlier this year. “Irving’s depth of knowledge in complicated restructurings and experience as a trustee in major securities cases is widely recognized,” said Baker’s George Stamboulidis, who will become managing partner of the New York office at the start of next year, in a statement.
Cleveland’s Baker Hostetler is the 94th largest law firm globally, employing more than 600 attorneys.