Thelen Reid Brown Raysman & Steiner
Encyclopedia
Thelen LLP, formerly known as Thelen Reid Brown Raysman & Steiner was a bicoastal American law firm
formed by two mergers between California and New York-based law firms. The firm peaked at roughly 600 attorneys in 2006, and had 500 early in 2008, with attorneys with offices in eight cities in the United States, England and China. By the time of its decision to dissolve in late October 2008, it had shrunk to 400 attorneys through layoffs and attrition. Thelen was known for its preeminent construction practice
which dates back to the 1930s and the local association between the law firm and contractors and developers of large hydroelectric dam projects. The construction practice offered regulatory, transactional and dispute resolution (litigation and arbitration
) support. It was also known for its energy expertise
, particularly in the electricity regulatory area, as well as for legal advice concerning technology and outsourcing.
. The firm counseled contractors and developers in a wide range of big ticket infrastructure projects, including the Hoover Dam
, the Golden Gate Bridge
, the San Francisco-Oakland Bridge and the second stage of Grand Coulee Dam
.
In June 1998, Thelen Marrin merged with New York-based Reid & Priest, a firm with 160 attorneys founded in 1935 with a Washington, D.C., office, known for its industry experience in the electric utility sector. The combined firm reportedly sought to merge with an English law firm following the revelation that New York-based Rogers & Wells
and London-based international firm Clifford Chance
were in merger talks that eventually reached fruition. However, the firm did not ultimately engage in a transatlantic merger. Instead, it opted for domestic growth by acquiring the 10 lawyers of San Francisco-based boutique technology firm Britton Silberman & Cervantez in 2000. Three years later, the firm established a joint venture with UK firm Pinsent Masons
focused on construction and project finance
, called Masons Thelen Reid. The joint venture later launched a link-up with a law firm in Iraq
in 2004 to assist firms involved in reconstruction. The joint venture was abandoned in 2007.
Thelen Reid & Priest LLP merged, effective on December 1, 2006, with Brown Raysman Millstein Felder & Steiner, LLP, to form Thelen Reid Brown Raysman & Steiner LLP. The transaction was the largest law firm merger in 2006, according to the Hildebrandt International consulting firm creating a bicoastal firm of over 600 attorneys with revenues of over $400 million.
According to the results of the National Law Journal's 2007 survey of the nation's largest law firms, Thelen Reid Brown Raysman & Steiner ranked 70. The firm later launched in London
and Shanghai
.
and practice groups, who moved to such leading firms as DLA Piper
, Orrick, Herrington & Sutcliffe
, Proskauer Rose
, and Loeb & Loeb. In late September 2008 twenty attorneys in the firm's China practice group in its Washington D.C. and Shanghai offices left for Pillsbury Winthrop Shaw Pittman
.
In July 2008, the firm internally announced its intention to seek another merger partner to boost its headcount and stem the tide of partner defections. After merger discussions with East Coast firm Nixon Peabody
failed, the firm began looking to shed practice groups and offices under the threat of dissolution.
On October 28, 2008, the firm's partnership council recommended that the firm's partnership dissolve the firm. The firm's line of credit was cut off due to many partners departing the firm. In early November between 60 and 90 attorneys, from offices in San Francisco, Silicon Valley, New York, Los Angeles, Washington, D.C., and Shanghai, were reportedly hired by Nixon Peabody
. Other practices and groups of attorneys were hired by Howrey LLP
, Reed Smith LLP Farella Braun + Martel, and Winston & Strawn, among other firms. The shut-down was completed by the end of 2008.
On September 17, 2009, Thelen filed for Chapter 7 bankruptcy in the Southern District of New York, after the firm's only secured creditor, Citibank, was also no longer willing to advance funds for the cost of collection and to wind down operations .
Law firm
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other...
formed by two mergers between California and New York-based law firms. The firm peaked at roughly 600 attorneys in 2006, and had 500 early in 2008, with attorneys with offices in eight cities in the United States, England and China. By the time of its decision to dissolve in late October 2008, it had shrunk to 400 attorneys through layoffs and attrition. Thelen was known for its preeminent construction practice
Construction law
Construction law is a body of law that deals with matters relating to building construction and related fields. It covers a wide range of legal issues including contract law, bonds and bonding, guarantees and sureties, liens and other security interests, tendering, construction claims, and related...
which dates back to the 1930s and the local association between the law firm and contractors and developers of large hydroelectric dam projects. The construction practice offered regulatory, transactional and dispute resolution (litigation and arbitration
Arbitration
Arbitration, a form of alternative dispute resolution , is a legal technique for the resolution of disputes outside the courts, where the parties to a dispute refer it to one or more persons , by whose decision they agree to be bound...
) support. It was also known for its energy expertise
Energy law
Energy laws govern the use and taxation of energy, both renewable and non-renewable. These laws are the primary authorities related to energy...
, particularly in the electricity regulatory area, as well as for legal advice concerning technology and outsourcing.
History
The firm that would become Thelen LLP was founded in 1924 as Thelen, Marrin, Johnson & Bridges in San Francisco, CaliforniaSan Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
. The firm counseled contractors and developers in a wide range of big ticket infrastructure projects, including the Hoover Dam
Hoover Dam
Hoover Dam, once known as Boulder Dam, is a concrete arch-gravity dam in the Black Canyon of the Colorado River, on the border between the US states of Arizona and Nevada. It was constructed between 1931 and 1936 during the Great Depression and was dedicated on September 30, 1935, by President...
, the Golden Gate Bridge
Golden Gate Bridge
The Golden Gate Bridge is a suspension bridge spanning the Golden Gate, the opening of the San Francisco Bay into the Pacific Ocean. As part of both U.S. Route 101 and California State Route 1, the structure links the city of San Francisco, on the northern tip of the San Francisco Peninsula, to...
, the San Francisco-Oakland Bridge and the second stage of Grand Coulee Dam
Grand Coulee Dam
Grand Coulee Dam is a gravity dam on the Columbia River in the U.S. state of Washington built to produce hydroelectric power and provide irrigation. It was constructed between 1933 and 1942, originally with two power plants. A third power station was completed in 1974 to increase its energy...
.
In June 1998, Thelen Marrin merged with New York-based Reid & Priest, a firm with 160 attorneys founded in 1935 with a Washington, D.C., office, known for its industry experience in the electric utility sector. The combined firm reportedly sought to merge with an English law firm following the revelation that New York-based Rogers & Wells
Rogers & Wells
Rogers & Wells was a New-York based international law firm founded in 1873. After several name changes, it was renamed for William P. Rogers and John A. Wells. The firm was well known for its litigation arm...
and London-based international firm Clifford Chance
Clifford Chance
Clifford Chance LLP is a global law firm headquartered in London, United Kingdom and a member of the 'Magic Circle' of leading UK law firms. It is one of the ten largest law firms in the world measured by both number of lawyers and revenue...
were in merger talks that eventually reached fruition. However, the firm did not ultimately engage in a transatlantic merger. Instead, it opted for domestic growth by acquiring the 10 lawyers of San Francisco-based boutique technology firm Britton Silberman & Cervantez in 2000. Three years later, the firm established a joint venture with UK firm Pinsent Masons
Pinsent Masons
Pinsent Masons LLP is a full-service commercial law firm. The firm ranks amongst the top 20 law firms in the United Kingdom.Pinsent Masons LLP has over 300 partners, a total legal team of around 1000 and more than 1,500 staff...
focused on construction and project finance
Project finance
Project finance is the long term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of the project sponsors...
, called Masons Thelen Reid. The joint venture later launched a link-up with a law firm in Iraq
Iraq
Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert....
in 2004 to assist firms involved in reconstruction. The joint venture was abandoned in 2007.
Thelen Reid & Priest LLP merged, effective on December 1, 2006, with Brown Raysman Millstein Felder & Steiner, LLP, to form Thelen Reid Brown Raysman & Steiner LLP. The transaction was the largest law firm merger in 2006, according to the Hildebrandt International consulting firm creating a bicoastal firm of over 600 attorneys with revenues of over $400 million.
According to the results of the National Law Journal's 2007 survey of the nation's largest law firms, Thelen Reid Brown Raysman & Steiner ranked 70. The firm later launched in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
.
Dissolution
Beginning in 2007, the firm experienced trouble integrating with Brown Raysman. By autumn 2008, the firm saw the departures of the three "name partners" from the Brown Raysman Steiner side. The firm shortened its name to Thelen LLP in August 2008. The firm lost almost 200 attorneys between merger and the October 2008 dissolution vote, including many important rainmakersRainmaking
Rainmaking refers to the act of attempting to artificially induce or increase precipitation, usually to stave off drought.In the US, rainmaking was attempted by traveling showmen. It was practiced in the old west but may have reached a peak during the dust bowl drought of the American West and...
and practice groups, who moved to such leading firms as 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...
, 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....
, Proskauer Rose
Proskauer Rose
Proskauer Rose is one of the largest law firms in the United States, with twelve offices in the United States and around the world...
, and Loeb & Loeb. In late September 2008 twenty attorneys in the firm's China practice group in its Washington D.C. and Shanghai offices left for Pillsbury Winthrop Shaw Pittman
Pillsbury Winthrop Shaw Pittman
Pillsbury Winthrop Shaw Pittman LLP is an international, full-service law firm with strengths in the energy, financial services, real estate and technology sectors and offices located throughout the United States and the world, including key financial centers such as New York, London, Tokyo and...
.
In July 2008, the firm internally announced its intention to seek another merger partner to boost its headcount and stem the tide of partner defections. After merger discussions with East Coast firm Nixon Peabody
Nixon Peabody
Nixon Peabody LLP is one of the largest multipractice law firms in the United States, with offices in seventeen cities in the United States, and in London, Paris, and Shanghai. It has more than eight hundred attorneys in twenty-five major practice areas...
failed, the firm began looking to shed practice groups and offices under the threat of dissolution.
On October 28, 2008, the firm's partnership council recommended that the firm's partnership dissolve the firm. The firm's line of credit was cut off due to many partners departing the firm. In early November between 60 and 90 attorneys, from offices in San Francisco, Silicon Valley, New York, Los Angeles, Washington, D.C., and Shanghai, were reportedly hired by Nixon Peabody
Nixon Peabody
Nixon Peabody LLP is one of the largest multipractice law firms in the United States, with offices in seventeen cities in the United States, and in London, Paris, and Shanghai. It has more than eight hundred attorneys in twenty-five major practice areas...
. Other practices and groups of attorneys were hired by Howrey LLP
Howrey LLP
Howrey LLP was a global law firm that practiced antitrust, global litigation and intellectual property law. At its peak Howrey had more than 500 attorneys in 16 locations worldwide.-History:...
, Reed Smith LLP Farella Braun + Martel, and Winston & Strawn, among other firms. The shut-down was completed by the end of 2008.
On September 17, 2009, Thelen filed for Chapter 7 bankruptcy in the Southern District of New York, after the firm's only secured creditor, Citibank, was also no longer willing to advance funds for the cost of collection and to wind down operations .
Notable Mandates
- Provided legal counsel to China Water and Drinks Inc., a Chinese beverage company in its $625 million acquisition by Heckmann Corp in 2008.
- Represented underwriters led by Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
with Credit SuisseCredit SuisseThe Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:...
as co-manager in a $1.135 billion debt offering portion of a leveraged lease financing of the Bruce Mansfield Unit 1 coal-fired generating station by FirstEnergy Generation Corp., a subsidiary of FirstEnergy Corp. in 2007. - Advised UniSource Energy Corporation in its $3 billion acquisition by a consortium consisting of Kohlberg Kravis Roberts, JPMorgan Partners and Wachovia Capital PartnersWachovia Capital PartnersPamlico Capital, formerly Wachovia Capital Partners and previously First Union Capital Partners, is an independent private equity firm focused on growth capital and leveraged buyout investments in middle-market companies in the business services, technology services, telecommunications and...
in 2003. - Represented the government of the Federal Republic of Nigeria in the 2001 $2.6 billion privatization of Nigerian Telecommunications plc.