- Coudert Brothers
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Coudert Brothers LLP 
Headquarters New York City No. of offices 28 No. of attorneys 650 Major practice areas General practice Revenue — Date founded 1853 (New York City) Company type Defunct Website www.coudert.com Coudert Brothers LLP was a New York-based law firm with a strong international outlook that practiced from 1853 until its dissolution in 2006.
Contents
History
The firm was established in 1853 in New York by three sons of Charles Coudert, Sr.: Frederic René Coudert, Sr., Charles Coudert, Jr., and Louis Leonce Coudert, which specialized in international law.[1]
The firm represented private investors seeking to acquire rights to build the Panama Canal; French automotive and tire manufacturers opening plants in the U.S.; the governments of Russia, France and Great Britain in the build up to World War I; and Ford Motor Company and a group of foreign car manufacturers in the successful appeal of the Selden Patent Case, ending the attempted monopolization of the automotive industry.The firm prospered under three generations of family control, expanding from its start in New York City to 28 offices worldwide, including Paris, London, Moscow, Sydney, Tokyo, Los Angeles and Shanghai. Coudert partners dealt with financiers, presidents, and ambassadors in settling cases of corporate ownership worldwide, acting as confidential facilitators of Allied arms buying in World War I, and as interventionist supporters in World War II.
In 1986, Coudert Brothers hired Gordon Spivack, a former Yale Law School professor who oversaw the multimillion-dollar antitrust practice at the disbanding law firm of Lord Day & Lord. Spivack took 17 lawyers to Coudert Brothers, plus clients like the Coca-Cola Company.[2]
Dissolution
Though American Lawyer magazine ranked it "among the 100 highest-grossing firms in the United States" in 2004, it was dissolved in 2005 after failing to reach a merger agreement with another firm, Baker & McKenzie.
The breakup of Coudert Brothers was long in coming. In 2004, the firm had profits of only $410,000 per partner—among the lowest in big law firms. Coudert Brothers took a significant hit when Orrick, Herrington & Sutcliffe recruited 11 partners from its London and Moscow offices, effectively ended its presence there.[3] After the break-up, most of the New York office joined Baker & McKenzie, greatly expanding its New York operations. In Paris, the Coudert Frères office split to the Philadelphia-based firm Dechert and Orrick, Herrington & Sutcliffe. In Brussels, Antwerp, Singapore and Tokyo, DLA Piper and Mayer Brown welcomed new attorneys from Coudert. Additionally, some of the lawyers in Almaty, Kazakhstan and St. Petersburg, Russia went on to be the foundation for new offices for Chadbourne & Parke in those areas. Its Bangkok office switched to Hunton & Williams.
On September 22, 2006, Coudert Brothers filed for bankruptcy.
Notable Mandates
- Represented international investors in the 2005 sale of a 93.5% stake in the Grand Hotel Europe in St. Petersburg, Russia by Orient Express Hotels Ltd. which was to invest $125 million to refurbish the hotel over the next three years. Debt to finance the transaction was provided by the International Finance Corporation.
- Counseled South Korea-based CJ Entertainment as selling shareholder in the 2004 $933.8 million IPO of Dreamworks Animation on the New York Stock Exchange. CJ Entertainment retained a 5% stake in Dreamworks. Goldman Sachs & Co and JP Morgan Securities Inc acted as underwriters.
- Legal adviser, through its Sydney branch, to Castle Harlan Australian Mezzanine Partners (now CHAMP Private Equity House) in its sale through a A$110 million secondary buy-out for Penrice Soda Products in 2004.
- Counseled Merck on its sale of its VWR International division to Clayton Dubilier & Rice for $1.68 billion in 2004.
- Advised the HSBC and BNP Paribas as underwriters in the HK$668 million IPO of the Lianhua Supermarket Holding Co. on the Hong Kong Stock Exchange in 2003.
- Through its Moscow office, the firm represented the Russian Federal Property Fund as selling shareholder in the $750 million sale of stock in Lukoil in 2002.
Notes
- ^ "The modern firm of Coudert Brothers has a choice of starting dates: its origins clearly go back to 1853, when Frederic René hung out his shingle, but purists, if they wish, may hold by either 1855, when two Coudert brothers first practiced law together, or 1857, when the brothers seemed to have turned their fledgling enterprise into a legal partnership." "It is the 1857 city directory...that for the first time lists ...the name they chose for their partnership: Coudert Brothers". Virginia Kays Veenswijk, Coudert Brothers: The History of America's First International Law Firm 1853-1993, Truman Talley Books, New York, 1994, ISBN 0525935851, p. 26.
- ^ Oldest Law Firm Is Courtly, Loyal and Defunct
- ^ Law.com - Coudert Breakup Voted After Merger Talks Fail
Further reading
- Rosen, Ellen (2007-02-09). "The Complicated End of an Ex-law Firm". New York Times. http://www.nytimes.com/2007/02/09/business/09legal.html. Retrieved 2008-04-05.
External links
Categories:- Defunct law firms of the United States
- Law firms based in New York City
- Law firms established in 1853
- Companies disestablished in 2005
- Defunct companies based in New York
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