Two Patton Boggs partners contributed $3.5m to keep firm afloat

Two senior Patton Boggs partners, the chair and managing partner, contributed US$3.5m to keep the practice going after lenders refused to renew revolving credit to the firm for this year.

Two senior Patton Boggs partners, the chair and managing partner, contributed US$3.5m to keep the practice going Andrey_Popov

The firm has now announced its 1 June merger with Squire Sanders after which the merged Squire Patton Boggs will have 1,600 lawyers in 45 offices in 21 countries. But the Washington-based Patton Boggs has had a rough ride, particularly after its involvement in the Chevron litigation in Ecuador went sour. Chair Thomas Boggs Jr and managing partner Edward Newberry suspended their own drawings in February this year and asked all other partners to do the same, according to The Wall Street Journal. The two also got assurances from 90% of the partners that they would stay with the firm. 

Back door

The serious merger discussions started at a secretive meeting in an Italian restaurant, according to the Wall Street Journal, at which Mr Newberry arrived through the kitchen and Mr Boggs and James Maiwurm, the Squire Sanders chair, timed their entrances at the main door so that they did not arrive together. Source: ABA

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