Coudert Brothers
Encyclopedia
Coudert Brothers LLP was a New York-based law firm with a strong international outlook that practiced from 1853 until its dissolution in 2006.
, Charles Coudert, Jr., and Louis Leonce Coudert, which specialized in international law.
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.
.
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. 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.
History
The firm was established in 1853 in New York by three sons of Charles Coudert, Sr.: Frederic René Coudert, Sr.Frederic René Coudert, Sr.
Frederic René Coudert, Sr. was a French American lawyer with Coudert Brothers.-Life:His father Charles Coudert was French, and left France in 1824. Frederic graduated from Columbia College of Columbia University in 1850, and on his majority was admitted to practice in the courts...
, Charles Coudert, Jr., and Louis Leonce Coudert, which specialized in international law.
The firm represented private investors seeking to acquire rights to build the Panama Canal
Panama Canal
The Panama Canal is a ship canal in Panama that joins the Atlantic Ocean and the Pacific Ocean and is a key conduit for international maritime trade. Built from 1904 to 1914, the canal has seen annual traffic rise from about 1,000 ships early on to 14,702 vessels measuring a total of 309.6...
; 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
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
, and as interventionist supporters in World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
.
In 1986, Coudert Brothers hired Gordon Spivack
Gordon Spivack
Gordon B. Spivack was a prominent American antitrust lawyer and former senior Justice Department official. As a lawyer for Coudert Brothers and earlier for the firm of Lord Day & Lord, both now defunct, Spivack's roster of clients included some of the nation's biggest companies, including Cargill,...
, a former Yale Law School
Yale Law School
Yale Law School, or YLS, is the law school of Yale University in New Haven, Connecticut, United States. Established in 1824, it offers the J.D., LL.M., J.S.D. and M.S.L. degrees in law. It also hosts visiting scholars, visiting researchers and a number of legal research centers...
professor who oversaw the multimillion-dollar antitrust practice at the disbanding law firm of Lord Day & Lord
Lord Day & Lord
Lord Day & Lord was a large, blue-chip New York City law firm. It was established in 1845 by Daniel Lord, his son Daniel De Forest Lord, and his son-in-law Henry Day. The firm had retained the same name until 1988 when it merged with smaller firm Barrett Smith Simon & Armstrong to become Lord Day &...
. Spivack took 17 lawyers to Coudert Brothers, plus clients like the Coca-Cola Company.
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 & McKenzieBaker & McKenzie
Baker & McKenzie is an international law firm, founded in Chicago in 1949 by Russell Baker and John McKenzie. It is home to more than 3,800 lawyers spread over 70 offices in 42 different countries....
.
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
Orrick, Herrington & Sutcliffe
Orrick, Herrington & Sutcliffe LLP is an international law firm founded in San Francisco. Orrick traces its roots back to 1863, making it the oldest continuously-operating law firm in San Francisco, and the second-oldest privately-held company in San Francisco after Levi Strauss & Co....
recruited 11 partners from its London and Moscow offices, effectively ended its presence there. After the break-up, most of the New York office joined Baker & McKenzie
Baker & McKenzie
Baker & McKenzie is an international law firm, founded in Chicago in 1949 by Russell Baker and John McKenzie. It is home to more than 3,800 lawyers spread over 70 offices in 42 different countries....
, greatly expanding its New York operations. In Paris, the Coudert Frères office split to the Philadelphia-based firm Dechert and Orrick, Herrington & Sutcliffe
Orrick, Herrington & Sutcliffe
Orrick, Herrington & Sutcliffe LLP is an international law firm founded in San Francisco. Orrick traces its roots back to 1863, making it the oldest continuously-operating law firm in San Francisco, and the second-oldest privately-held company in San Francisco after Levi Strauss & Co....
. In Brussels
Brussels
Brussels , officially the Brussels Region or Brussels-Capital Region , is the capital of Belgium and the de facto capital of the European Union...
, Antwerp, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
and Tokyo, DLA Piper
DLA Piper
DLA Piper is a global law firm with 76 offices across 30 countries and more than 4,200 lawyers. As of May 2011, it was the largest law firm in the world by number of attorneys. The firm's global revenues were $1.92 billion in 2009-2010. The firm is composed of two partnerships, DLA Piper...
and Mayer Brown
Mayer Brown
Mayer Brown is an international law firm head-quartered in Chicago which specializes in commercial transactions and litigation. The firm employs more than 1,600 lawyers, including approximately 875 in the Americas, 425 in Europe and 300 in Asia....
welcomed new attorneys from Coudert. Additionally, some of the lawyers in Almaty
Almaty
Almaty , also known by its former names Verny and Alma-Ata , is the former capital of Kazakhstan and the nation's largest city, with a population of 1,348,500...
, Kazakhstan and St. Petersburg, Russia went on to be the foundation for new offices for Chadbourne & Parke
Chadbourne & Parke
Chadbourne & Parke LLP, founded in 1902 by Thomas L. Chadbourne, currently has some 400 lawyers and tax advisors in 13 offices in ten countries...
in those areas. Its Bangkok office switched to Hunton & Williams
Hunton & Williams
Founded in 1901, Hunton & Williams LLP is a US law firm that employs more than 800 lawyers. It has been called "one of the most well-connected legal and lobbying firms in DC." The firm was founded in Richmond, Virginia and has 18 other offices throughout the United States, Europe, and Asia. In...
.
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 CorporationInternational Finance CorporationThe International Finance Corporation promotes sustainable private sector investment in developing countries.IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States....
. - Counseled South Korea-based CJ EntertainmentCJ EntertainmentCJ Entertainment is a South Korean entertainment company which is involved in film production, investment, distribution and exhibition. It is the largest entertainment company in South Korea...
as selling shareholder in the 2004 $933.8 million IPO of Dreamworks AnimationDreamWorks AnimationDreamWorks Animation SKG, Inc. is an American animation studio based in Glendale, California that creates animated feature films, television program and online virtual worlds...
on the New York Stock ExchangeNew York Stock ExchangeThe New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. CJ Entertainment retained a 5% stake in Dreamworks. Goldman SachsGoldman SachsThe Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
& 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 MerckMerck & Co.Merck & Co., Inc. , also known as Merck Sharp & Dohme or MSD outside the United States and Canada, is one of the largest pharmaceutical companies in the world. The Merck headquarters is located in Whitehouse Station, New Jersey, an unincorporated area in Readington Township...
on its sale of its VWR International division to Clayton Dubilier & Rice for $1.68 billion in 2004. - Advised the HSBCHSBCHSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
and BNP ParibasBNP ParibasBNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
as underwriters in the HK$668 million IPO of the Lianhua Supermarket Holding Co. on the Hong Kong Stock ExchangeHong Kong Stock ExchangeThe Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
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 LukoilLUKoilLukoil/LUKoil ; ) is Russia's second largest oil company and its second largest producer of oil. In 2009, the company produced 97.615 million tons of oil; ....
in 2002.