The long percolating breakup of Alschuler Grossman Stein & Kahan LLP is a done deal. Name partners Stanton “Larry” Stein and Bob Kahan are leaving with 30 to 45 lawyers to open Dreier Stein & Kahan LLP.
Stein, one of the most-respected talent representatives in entertainment law, could not comment on the deal. What’s known is that it takes effect Jan. 1 and he’s guaranteed more than $2 million in annual salary for the first three years. Stein and Kahan will be leasing two floors in the Santa Monica’s Water Garden.
For his part, Managing Partner Marshall Grossman is anxious to begin a new era at Alschuler Grossman LLP. Several major firms are among his clients, including Blockbuster Inc. and Grupo Televisa SA. He also represents USC.
“Alschuler Grossman will be a stronger firm,” said Grossman, who joined right out of law school. “And it will be more profitable, by a couple hundred thousand dollars per partner.”
It’s been a tumultuous year at Alschuler Grossman. The firm earlier this year discussed a partnership with what was then Cooley Godward, but talks broke down and Cooley merged with Kronish Lieb Weiner & Hellman to create Cooley Godward Kronish LLP. There also was wide speculation that Alschuler was near a deal with Robins Kaplan Miller Ciresi LLP, but Grossman now says those talks never got off the ground.
The uncertain atmosphere may have taken a toll. The firm had 94 lawyers earlier this year and is down to 85 now. Among the losses were Mark Neubauer and Michael R. Heimbold to Steptoe & Johnson LLP.
Stein and Grossman had their share of disagreements, and it appears that will be the case through the dissolution. Grossman has said he’ll keep about 55 lawyers and that Stein will take about 30. Stein has said he’s taking at least 40. Entertainment co-chairs Michael Plonsker and Yakub Hazzard will be exiting with Stein.
The breakup should put the 50-year-old firm in a better position with potential merger partners, Grossman said. “We’re open to a lunch or dinner.”
Speaking Spanish
L.A.-based Latham & Watkins LLP has established a beachhead in Spain having recently opened offices in Madrid and Barcelona.
The operations in Spain will be headed by partner Jos & #233; Luis Blanco, a merger and acquisitions specialist who is joining the firm from the Spanish company Cuatrecasas LLP. Blanco will be office managing partner for Spain.
“After careful study of the market, we are confident that the conditions are appropriate for our firm to build a presence in Spain, one of the most vibrant transactional markets in Europe,” said Chairman and Managing Partner Robert M. Dell.
The Spanish offices make for a total of 10 in Europe, and nearly 400 attorneys in the region.
“The Spanish economy has been among one of the fastest-growing in Europe over the past decade,” said David Miles, a member of the firm’s executive committee. “The addition of a premier Spanish corporate capability is a huge step forward in our strategy, because we can now offer our global client base and private equity sponsors an integrated transactional offering in Spain.”
Your Honors
Gov. Arnold Schwarzenegger appointed three Los Angeles County Superior Court judges just before the end of the year.
Alan B. Honeycutt, 36, of Torrance, was previously city prosecutor for the Redondo Beach City Attorney’s Office. He is a Republican.
Edward B. Moreton Jr., 48, of Los Angeles, had served as assistant U.S. attorney for the U.S. Attorney’s Office in Los Angeles since 1991. He is also a Republican
Michael Villalobos, 53, of San Gabriel, has been a deputy district attorney for the Los Angeles County District Attorney’s Office since 1984. He is a Democrat.
All three judges will be on the bench this week. Their annual compensation will be $158,201 each.
Howdy Partner
O’Melveny & Myers LLP recently elected the largest partner class in its history.
Of the 18 promotions, five are from its Los Angeles and Century City offices. Freshly minted L.A. partners are Robert F. Fisher in tax, John-Paul Motley in corporate finance and Ryan Yagura in intellectual property and technology. Century City elected Matthew Erramouspe in the entertainment and media practice and Marvin S. Putnam in general trial and litigation.
Staff reporter Emily Bryson York can be reached at (323) 549-5225, ext. 235, or at
[email protected]
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