Altheimer & Gray was a Chicago-based law firm, which operated from 1914 to 2003.
History
editIt opened in 1914 as Altheimer, Mayer, Woods, and Smith. Founding lead partner Benjamin J. Altheimer (1877-1946) was the son of Joseph and Matilda Josephat Altheimer and nephew of Arkansas planter Louis Altheimer, who established Altheimer, Arkansas. Benjamin Altheimer was a prominent Chicago Democrat.[1]
The firm was successful for many years, and was well regarded for its transactional practice, particularly in corporate mergers and acquisitions. By 2000, it had some 300 attorneys and 300 staff members with offices in Chicago, Springfield, Illinois, and San Francisco. It also had an enviable international network with offices in London, Shanghai, Istanbul, Prague, Warsaw, Bucharest, Kyiv, and Bratislava.
The firm also had strong connections in local politics. Its last chairman, Gery Chico, had been Chief of staff to Mayor Richard M. Daley, while partner Jeremy Margolis had been an Assistant U.S. Attorney, head of the Illinois State Police, and advisor to Governor George Ryan.
However, the firm's revenue began to decline after 2000. Poor management and excessive spending left the firm in debt. Several important partners left the firm, and the remaining partners could not agree on the proper strategy for the firm. By 2003, the debts and disagreements were unsupportable, and the firm filed for bankruptcy and was dissolved.[2][3][4]
Notable attorneys
edit- Mark Flessner (former)[5]
- Alan J. Altheimer, nephew of Benjamin Altheimer who came to manage the firm
Dissolution
editAfter the dissolution of Altheimer & Gray, much of its international network joined Anglo-French firm Salans; its Kyiv and Warsaw offices switched to New York-based Chadbourne & Parke. The high-profile private equity team decamped to Chicago-based Schiff Hardin and then recently switched again to global giant Sidley Austin. Altheimer's London office joined Atlanta-based Kilpatrick Stockton but later a number of those lawyers moved to White & Case when Kilpatrick shuttered its UK operations. The San Francisco office disbanded and the partners scattered to such firms as Perkins Coie, Mayer Brown, Bingham McCutchen, and Seyfarth Shaw.
Bratislava office continued to operate for the next 8 years unaware of the parent company's dissolution.
References
edit- ^ Benjamin Altheimer's bio
- ^ "Gery Chico and the firm that failed". Archived from the original on 2011-01-28. Retrieved 2011-01-27.
- ^ Tribune, Chicago (2003-06-28). "Altheimer & Gray to close". Chicago Tribune. Retrieved 2024-10-01.
- ^ Tribune, Chicago (2004-06-26). "Altheimer & Gray partners are divided over debts". Chicago Tribune. Retrieved 2024-10-01.
- ^ "Chicago's Former Top Lawyer Joins Local Law Firm as Partner". Bloomberg law.com. 16 March 2021. Retrieved 15 May 2021.
External links
edit- Chicago Law Firm Altheimer & Gray Postpones Closing
- Altheimer's death spiral leaves more than lawyers in the lurch[dead link]
- Altheimer & Gray to rest its case
- Landlord Forces Altheimer & Gray Into Bankruptcy
- Altheimer & Gray of Chicago, IL and Warsaw in cooperation with Professor Dr. Hab. A. Calus, Chairman, Department of International Law, Central School of Commerce, Warsaw (1995). "Poland Law Digest". Martindale Hubbell International Law Digest, Argentina-Venezuela Law Digests; Selected International Conventions (127th year ed.). New Providence, NJ and London, England: Reed Elsevier Inc. ISBN 1-56160-113-6. Retrieved November 11, 2018 – via Internet Archive.
{{cite book}}: CS1 maint: multiple names: authors list (link) - Altheimer & Gray (1996). "Poland Law Digest, Ukraine Law Digest". Martindale Hubbell International Law Digest, Argentina-Venezuela Law Digests; Selected International Conventions (128th year ed.). New Providence, NJ and London, England: Reed Elsevier Inc. ISBN 1-56160-179-9. Retrieved November 11, 2018 – via Internet Archive.
- Altheimer's gray area: shorted pay