Score one for law firms over corporate finance, as Jamie Sprayregen is set to return to his old job as co-head of the Kirkland & Ellis bankruptcy and restructuring team after two and a half years at Goldman Sachs, according to this story in Legal Week, an Am Law Daily sibling publication.
Sprayregen's 2006 move from Kirkland to Goldman was interpreted as a blow to Kirkland and a sign that Goldman was ready to pounce on any opportunities in a distressed economy. Kirkland responded by hiring Richard Cieri from Gibson, Dunn & Crutcher, and its bankruptcy group has continued to rival that of Weil, Gotshal & Manges when it comes to high-level work; experts believe Kirkland is one of a handful of firms that could guide one of the Big 3 auto companies in a possible Chapter 11 filing, the Am Law Daily reported last week.
Sprayregen, who represented luminaries such as United Airlines and TWA during his first stint at Kirkland, told the New York Times he simply missed practicing law. He's expected to manage Kirkland's restructuring unit alongside Cieri, Legal Week reports.
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