According to a report in the magazine Top Legal International, Bruno Gattai – the partner who was instrumental in creating Grimalidi from the ashes of bankrupt Dewey earlier this year – led the walk out along with 11 other partners. They have launched a Rome-based niche corporate and mergers and acquisitions practice called Gattai Minoli & Partners, which the report says will also specialise in insolvency work and litigation.

Speculation

Mr Gattai is joined by equity partners Luca Minoli, Nicola Brunetti, Gaetano Carrello and Stefano Catenacci, along with salaried partners Cataldo Piccarreta, Laura Ortali, Valerio Fontanesi, Emanuela Ciaffi, Gerardo Gabrielli, Luca Sommariva and Sebastiano Cassani.
The magazine says the development ends considerable market speculation in Italy over a move, with some suggesting Mr Gattai would lead a defection to the Italian offices of one of several global law firms.
The spin-off boutique that has eventually emerged is also reported to be opening a Milan office early in the new year.

Associate bonuses

Meanwhile, back in the US two more leading firms have announced year-end associate bonus rates, falling in line with the benchmark set several weeks ago by New York-based Cravath Swaine & Moore.
A report on AmLaw Daily’s web site points to Sullivan & Cromewell and Weil as being the latest heavyweight practices to follow the Cravath lead, by which associates from the classes of 2011 and 2012 bagging $10,000 perks, while those old stages from the class of 2004 in line for a $60,000 treat from Father Christmas.