BakerHostetler

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.

BakerHostetler
HeadquartersNone (first office was in Cleveland, Ohio)
No. of offices17[1]
No. of attorneys1,000[2]
Key peoplePaul M. Schmidt
Chairman[3]
Revenue$732 million (2020)[4]
Date founded1916 (1916)
FounderNewton D. Baker,[5] Joseph C. Hostetler,[6] Thomas L. Sidlo[7]
Company typeLimited liability partnership
Websitewww.bakerlaw.com

History

In 2019, the firm was ranked the 73rd-largest law firm in the world.[8] BakerHostetler is a multidisciplinary firm with six core practice groups -- Business, Digital Assets and Data Management, Intellectual Property, Labor and Employment, Litigation and Tax. In a 2020 survey by BTI Consulting Group, BakerHostetler was ranked among the top 30 firms considered to be the “Elite Member of the Client Service A-Team”, in terms of providing superior client satisfaction.[9]

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.[10]

In 2014, intellectual property law firm Woodcock Washburn LLP merged with BakerHostetler, adding three offices in Philadelphia, Atlanta, and Seattle.[11]

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.[12]

In 2020, the firm formed its sixth practice group, the Digital Assets and Data Management Practice group, to address the lifecycle of data. The practice group's formation signaled the importance of "data" to the practice of law and the clients the firm represents.[13]

Major clients

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 $14 billion[14]—about 70 percent of approved claims—by suing those who profited from the scheme, whether they knew of the scheme or not.[15] 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.[15] 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).[15][16][17]

BakerHostetler represents the Official Committee of Tort Claimants, the official committee representing the interests of over 70,000 victims of Northern California wildfires in the chapter 11 reorganization of Pacific Gas and Electric Company and PG&E Corporation. PG&E is the largest bankruptcy case ever filed in California[18] and the sixth largest case ever filed in the United States.[19]

Major League Baseball has been a longstanding client of BakerHostetler.[20]

On August 25, 2014, House Republicans hired BakerHostetler's David Rivkin to provide legal representation to sue President Obama over the Affordable Care Act. [21]

Other notable clients

Lawyers and locations

In 2020, the law firm employed nearly 1000 attorneys and had offices in 17 different markets including: New York, Washington, D.C., California (Los Angeles, San Francisco, Costa Mesa), Colorado (Denver), Delaware (Wilmington), Florida (Orlando), Georgia (Atlanta), Illinois (Chicago), Pennsylvania (Philadelphia), Texas (Dallas, Houston), Ohio (Columbus, Cleveland, Cincinnati) and Washington (Seattle).

Notable attorneys

References
  2. https://www.vault.com/company-profiles/law/baker-hostetler-llp
  3. "About us - Facts". BakerHostetler. 2018. Retrieved 2018-12-31.
  5. "Baker, Newton Diehl". Encyclopedia of Cleveland History. Case Western Reserve University. 1997-07-11. Retrieved 2007-02-05.
  6. "Hostetler, Joseph C." Encyclopedia of Cleveland History. Case Western Reserve University. 1997-07-18. Retrieved 2007-02-05.
  7. "Sidlo, Thomas L." Encyclopedia of Cleveland History. Case Western Reserve University. 1997-07-22. Retrieved 2007-02-05.
  8. https://www.law.com/americanlawyer/2019/09/24/the-2019-global-100-ranked-by-head-count/
  9. https://bticonsulting.com/bti-client-service-a-team-2020-survey-of-law-firm-client-service-performance#client30
  10. "Profile of Professional Organization Contributors Baker Hostetler". The National Law Review. The National Law Forum, LLC. 2012-04-15. Retrieved 2013-01-08.
  11. "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.
  12. Beck, Susan (2016-05-06). "AI Pioneer ROSS Intelligence Lands Its First Big Law Clients". The American Lawyer. Retrieved 2016-05-12.
  13. https://www.bakerlaw.com/webfiles/Privacy/2020/Articles/DADMAmLawReprint.pdf
  14. "High Court Seeks U.S. Input on $3 Billion Bid by Madoff Trustee". Bloomberg.com. 2019-12-09. Retrieved 2021-01-08.
  15. Madoff’s Victims Are Close to Getting Their $19 Billion Back
  16. Record-Setting Madoff Settlement Announced with Picower Estate
  17. $7.2 Billion Picower Settlement: Payday for Madoff Victims
  18. "PG&E loses exclusive control of its bankruptcy recovery plan". Los Angeles Times. 2019-10-09. Retrieved 2021-01-08.
  19. Desjardins, Jeff (2019-06-25). "The 20 Biggest Bankruptcies in U.S. History". Visual Capitalist. Retrieved 2021-01-08.
  20. "Archived copy". Archived from the original on 2010-05-14. Retrieved 2010-06-29.CS1 maint: archived copy as title (link)
  21. Lazar, Alex (25 August 2014). "David Rivkin Hired As House GOP Lawyer For Obama Lawsuit" – via Huff Post.
  22. Leopold, Jason; Cormier, Anthony; Loop, Emma; Tillman, Zoe (May 30, 2020). "Mueller Memos Part 7: These Documents Reveal What People Close To The President Told Mueller's Team About Trump And Russia". BuzzFeed News. The foundation was officially created in February 2016, according to Delaware state records, and Arakelian is listed as the incorporator. But Arakelian told the FBI he “was not involved in the incorporation” and that it was actually Lieberman and the law firm BakerHostetler who “conducted” it.
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