Corporate Counsel

ICYMI: Intended to offset cash payouts and unvested grants of stock and stock options legal chiefs forfeit when they leave their employers, the welcome packages are likely to continue to swell in size as companies scratch and claw for top talent. https://loom.ly/AJqpFSg

ICYMI: Senior executives and board chairs increasingly view general counsel as trusted advisers with big-picture insights on a range of issues, from AI adoption to global politics. https://loom.ly/6xBT6ZM

ICYMI: The fast-rising rates put general counsel in awkward spot with their boards of directors and fellow C-suite executives, who often struggle to understand why outside counsel costs are rising so much faster than those of other vendors. https://loom.ly/ssmkJ9I

ICYMI: Adobe said it has named Gloria Chen, the company’s executive vice president and chief people officer, to lead Adobe’s legal organization on an interim basis while it conducts a search for Rao’s permanent successor. https://loom.ly/Pj3RSr4

“Everyone was much nicer than expected, given [this firm's] horrible reputation. There’s an incredible amount of bullshit about the firm out there.” https://lnkd.in/eTkGGQQn

In addition to respecting boundaries and allowing for flexibility in work schedules and locations when possible, midlevels said firms could do a better job of elucidating how associates are doing and whether they’re on track to succeed in the long term. https://lnkd.in/eB7BhpDp

Commercial Chapter 11 bankruptcy filings increased 21% in August compared to July, according to new bankruptcy data from Epiq.

Matthew Keris: "It’s time to say farewell to simple negligence and 'hello' to the use of 'chart physicians' and products liability concepts."

Via Jack Womack: Linklaters has made a lateral hire in the U.S., adding a restructuring partner from Simpson Thacher & Bartlett, as the firm continues its search for a New York foothold. Michael H. Torkin joins Linklaters as the firm’s U.S. head of capital solutions in its New York office. He had been a partner with Simpson Thacher since 2017, and was previously at Sullivan & Cromwell. During his time at Simpson Thacher, Torkin was founder of the firm’s private capital and special situations investment group. In 2018, Torkin was at the centre of a legal wrangle, when a recruitment firm filed a lawsuit against Simpson Thacher, claiming it had introduced Torkin—a Sullivan & Cromwell partner at the time—to the firm, leading to his hire at Simpson Thacher. Simpson Thacher and the recruitment firm settled the suit on confidential terms. https://lnkd.in/eaZ-4nMB

Via Christopher Niesche: Simpson Thacher & Bartlett and King & Wood Mallesons are representing private equity giant Blackstone on its $16 billion purchase of Australian data center operator AirTrunk, with Baker McKenzie acting for the sellers. Blackstone and the Canada Pension Plan Investment Board have joined forces for the $16 billion acquisition of the largest data center operator in the Asia Pacific region, which has a presence in Australia, Japan, Malaysia, Hong Kong, and Singapore. Australian firm Allens is representing CPP, with Melbourne partners Wendy Rae and Michelle Bennett working on the deal, the firm said. Baker McKenzie represented sellers Macquarie Asset Management and Public Sector Pension Investment Board, with the deal led by Melbourne partners Simon De Young and Lewis Apostolou, and Sydney-based partners Eric Thianpiriya and Michael Kunstler, a person with knowledge of the deal told Law.com International. The Simpson Thacher team is led by New York-based mergers and acquisition partners Anthony King and Sam Rudik, and Hong Kong-based banking and credit partner Makiko Harunari, the firm said. In Australia, the King & Wood team was led by mergers and acquisitions partners Alex Elser, Gareth Howe and finance partner Dan Flanagan, the firm said. https://lnkd.in/eJrefvMY