A contingency fee related to work for The Flintkote Co. led to double-digit increases in key metrics at Chicago’s Schiff Hardin. The firm’s gross revenue was up 14.7 percent, to $276.5 million, while profits per partner jumped 21 percent, to $980,000, and revenue per lawyer rose 17.4 percent, to $875,000.
In September, Flintkote accepted a $575 million asbestos settlement from Imperial Tobacco Canada Ltd., its former owner, as part of its Chapter 11 reorganization plan. Schiff Hardin’s fee was just shy of $32 million. Without the Flintkote fee, Schiff Hardin’s gross revenue would have increased about 1.5 percent from 2014.
