Potter Anderson Named 2021 Delaware Powerhouse by Law360
Delaware Powerhouses Innovate, Grow, Push Past Challenges
By Jeff Montgomery
Law360 (August 1, 2021, 9:02 PM EDT) -- Delaware has long ranked as a special arena among the nation's centers for bankruptcy, patent, corporate and complex commercial litigation, with Law360 Powerhouse firms consistently excelling even after the global pandemic rewrote practice and courtroom playbooks.
Five firms with offices in the First State stood out in 2021 — Morris Nichols Arsht & Tunnell LLP, Pachulski Stang Ziehl & Jones LLP, Potter Anderson & Corroon LLP, Skadden Arps Slate Meagher & Flom LLP and Wilson Sonsini Goodrich & Rosati PC.
Those named run the gamut, from a nearly two-century-old firm founded and headquartered in Delaware to litigation-focused global practices and profession-leading bankruptcy experts. All have written their names large across the law.
The Delaware courts where all five practices are among the busiest in the nation in some fields despite the still burning pandemic, with the U.S. Bankruptcy Court in Wilmington having nearly doubled in size in recent years, from five jurists to nine, and the nationally prominent Court of Chancery expanding from five to seven.
Potter Anderson & Corroon LLP
Founded in 1826, Potter Anderson & Corroon LLP ranks among the oldest law firms in the United States, while also steadily adding to its longstanding reputation as among the best in multiple practice areas in a state that serves as a major hub for corporate and commercial law and nationally important litigation.
Firm chair Kathleen Furey McDonough said the 86-attorney firm found its footing quickly when it became clear that the pandemic stood business as usual on its head.
"One of the historic strengths of our firm is we've had a broad and deep diversity of practices going back for decades and decades," McDonough said. "That once again helped keep us strong through the pandemic."
McDonough said there was a period of assessment in the early days and weeks of the global crisis.
"That period was not very long, and by the summer of 2020 we were very busy, and 2021 has been a period of extraordinary levels of work and effort by all of the lawyers in our firm," McDonough said.
Potter's attorneys were active in corporate litigation, corporate and alternative entity and merger and acquisition transactions, bankruptcy, intellectual property, labor and employment, and real estate cases.
The company represents AmerisourceBergen Corp., the nation's second-largest drug distributor, in litigation involving regulatory compliance involving opioids. Its representation included a dispute over investor access to company books and records that led to a significant Delaware Supreme Court decision.
Potter Anderson also represents Simon Property Group in a closely watched case, a high-dollar dispute with tenants who stopped paying rent due to the pandemic.
In bankruptcy, the company continued to expand its presence after tripling the size of its bankruptcy team. Among other cases, the firm served as Delaware counsel in joint ventures involving SPARC Group and Authentic Brands in connection with bankruptcy acquisitions of Brooks Brothers and Lucky Brand Dungarees.
Potter Anderson's corporate counseling and transactions practice saw the firm represent Alphabet, the parent company of Google, in connection with its proxy in June 2020.