Paul Weiss lands the partner who built Kirkland's restructuring practice

Paul Weiss is bringing in the partner credited with building Kirkland's restructuring practice, one of the most recognized bankruptcy names in the business, leaving the firm he helped put on the map. Anyone who's read The Caesars Palace Coup knows exactly who I'm talking about. The rest of the run stayed busy: King and Spalding added two more litigators from Winston Taylor in Chicago, and Sidley recruited a venture capital partner in San Diego from Jones Day.

On the business side, new reporting shows Cadwalader's former leaders will wait up to three years to get their capital back, just days before the firm closes its merger with Hogan Lovells on July 1. Firms sometimes delay returning that money to keep partners from leaving for rivals.