BakerHostetler

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BakerHostetler
Baker Hostetler logo.png
HeadquartersKey Tower
Cleveland, Ohio
United States
No. of offices14
No. of attorneys1,000[1]
Major practice areasGeneral Practice
Key peoplePaul M. Schmidt
Chairman[2]
Revenue$667 million (2018)[3]
Date founded1916; 103 years ago (1916)
FounderNewton D. Baker,[4] Joseph C. Hostetler,[5] Thomas L. Sidlo[6]
Company typeLimited liability partnership
Websitewww.bakerlaw.com

BakerHostetler is an American 1,000-attorney law firm founded in 1916. One of the firm's founders, Newton D. Baker, was U.S. Secretary of War during World War I, and former Mayor of Cleveland, Ohio.

History[edit]

In 2009, the firm was ranked the 85th-largest law firm in the world.[7] BakerHostetler is a multidisciplinary firm with 11 practice groups and more than 55 areas of practice strength. In a 2005 survey by BTI Consulting Group, BakerHostetler was ranked among the top 24 firms considered to be the “Power Elite”, in terms of providing superior client satisfaction.[8]

In 2010, BakerHostetler represented Denbury Resources Inc. (NYSE: DNR), a member of the S&P 500, in a merger valued at $4.5 billion with Encore Acquisition Co. (NYSE: EAC). The transaction created one of the largest oil-focused independent exploration and production companies in North America. As a result of this and other similar deals, BakerHostetler was ranked among the top 10 U.S. law firms for merger and acquisition deals in the oil, gas, and oilfield service industries for the period January 2009-First Quarter 2010 per The Deal magazine. The firm is generally known for counseling and representing clients in the hospitality, healthcare, financial services, media, energy, sports, and technology fields.[9]

In 2014, intellectual property law firm Woodcock Washburn LLP merged with BakerHostetler, adding three offices in Philadelphia, Atlanta, and Seattle.[10]

In 2016, the firm announced it was using IBM's Watson, named "ROSS", to assist attorneys in their bankruptcy practice. Other law firms had signed agreements with ROSS, but BakerHostetler was the first to announce the use of the artificial intelligence-based service.[11]

Major clients[edit]

BakerHostetler, through partner Irving Picard and his team, has been overseeing the liquidation of Bernard Madoff’s firm in bankruptcy court, and has so far recovered over $13 billion—about 70 percent of approved claims—by suing those who profited from the scheme, whether they knew of the scheme or not.[12] Kathy Bazoian Phelps, a bankruptcy lawyer at Diamond McCarthy, said "That kind of recovery is extraordinary and atypical,” as clawbacks in such schemes range from 5 percent to 30 percent, and many victims don’t get anything.[12] Picard has successfully pursued not only investors, but spouses and estates of those who profited, such as the wife of Bernard Madoff (Ruth Madoff), the widow and estate of the deceased Stanley Chais, and the estate of the deceased Jeffry Picower and Picower's widow Barbara, with whom he reached a $7.2 billion settlement (the largest civil forfeiture payment in US history).[12][13][14]

BakerHostetler has represented the William Jefferson Clinton Presidential Foundation's HIV/AIDS Initiative since 2003.[15]

Major League Baseball has been a longstanding client of BakerHostetler.[16]

On August 25, 2014, House Republicans hired BakerHostetler's David Rivkin to provide legal representation to sue President Obama over the Affordable Care Act. [17]

Other notable clients[edit]

Lawyers and locations[edit]

In 2014, the law firm employed nearly 900 attorneys and had offices in 14 different markets including: New York, Washington, D.C., California (Los Angeles, Costa Mesa), Illinois (Chicago), Florida (Orlando), Texas (Houston), Colorado (Denver), and Ohio (Columbus, Cleveland, and Cincinnati).[19]

Notable attorneys[edit]

References[edit]

  1. ^ https://www.vault.com/company-profiles/law/baker-hostetler-llp
  2. ^ "About us - Facts". BakerHostetler. 2018. Retrieved 2018-12-31.
  3. ^ [1]
  4. ^ "Baker, Newton Diehl". Encyclopedia of Cleveland History. Case Western Reserve University. 1997-07-11. Retrieved 2007-02-05.
  5. ^ "Hostetler, Joseph C." Encyclopedia of Cleveland History. Case Western Reserve University. 1997-07-18. Retrieved 2007-02-05.
  6. ^ "Sidlo, Thomas L." Encyclopedia of Cleveland History. Case Western Reserve University. 1997-07-22. Retrieved 2007-02-05.
  7. ^ The Lawyer Global 100 Archived February 6, 2008, at the Wayback Machine from The Lawyer published in association with The American Lawyer November 2009; see also List of 100 largest law firms globally
  8. ^ http://www.bticonsulting.com, see BTI Power Rankings: The BTI Client Relationship Scorecard for Law Firms 2005
  9. ^ "Profile of Professional Organization Contributors Baker Hostetler". The National Law Review. The National Law Forum, LLC. 2012-04-15. Retrieved 2013-01-08.
  10. ^ "A Whole New Look for Some Law Firms in 2014". The Wall Street Journal Law Blog. The Wall Street Journal. 2014-01-02. Retrieved 2014-01-02.
  11. ^ Beck, Susan (2016-05-06). "AI Pioneer ROSS Intelligence Lands Its First Big Law Clients". The American Lawyer. Retrieved 2016-05-12.
  12. ^ a b c Madoff’s Victims Are Close to Getting Their $19 Billion Back
  13. ^ Record-Setting Madoff Settlement Announced with Picower Estate
  14. ^ $7.2 Billion Picower Settlement: Payday for Madoff Victims
  15. ^ Stephenson, Amanda (February 2007). "BakerHostetler facilitates deal for HIV/AIDS Initiative.(Inside Track: Law)". Inside Business. FindArticles. Retrieved 2007-02-05.[dead link]
  16. ^ "Archived copy". Archived from the original on 2010-05-14. Retrieved 2010-06-29.CS1 maint: archived copy as title (link)
  17. ^ Lazar, Alex (25 August 2014). "David Rivkin Hired As House GOP Lawyer For Obama Lawsuit" – via Huff Post.
  18. ^ "Archived copy". Archived from the original on 2011-11-11. Retrieved 2011-12-05.CS1 maint: archived copy as title (link)
  19. ^ "History". bakerlaw.com.

External links[edit]