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Many Thacher Refugees Still Looking for Work

The National Law Journal reports that many former Thacher lawyers have been unable to find new positions.

More than 65 attorneys from defunct Thacher Proffitt & Wood, many of whom specialize in structured finance and real estate, are still looking for jobs.

The attorneys, including eight partners, represent more than one-third of the total who remained at the New York firm before it announced its dissolution on Dec. 22, 2008. Nearly 100 joined Sonnenschein Nath & Rosenthal immediately before the firm collapsed, brought down by the securitization market’s decline, numerous partner departures and a failed merger with Atlanta’s King & Spalding.

…eight partners remain unemployed, [and] 60 associates are still unaccounted for, and their severance packages are expected to expire this month.

In December Thacher Proffitt & Wood, the 160-year-old New York-based law firm, announced it would close forever.  The subprime crisis slashed demand for its structured-finance practice, and more than half of its attorneys left for a competitor.

Via NLJ.

Erik Even: