Skadden, Arps Wins The Potentially Lucrative Role As Counsel
Skadden, Arps, Slate, Meagher & Flom competed with six other law firms to win the potentially lucrative role as counsel to the newly formed unsecured creditors' committee in American Airlines' parent AMR Corp's bankruptcy case. The other firms vying for the assignment included: Akin, Gump, Strauss, Hauer & Feld; Kirkland & Ellis; Milbank, Tweed, Hadley & McCloy; Morrison & Foerster; Pachulski Stang Ziehl & Jones; and SNR Denton. The first job of the committee was to select the professional advisory firms. All the seven law firms on hand made pitches of roughly 15 minutes each.