Annual Review

What's inside

Highlights of our work, insights, achievements, programs and initiatives in a year that saw growing global divisions

A message from our Chair

2023 was a year of change for White & Case, as I stepped into the role of Chair and my predecessor, Hugh Verrier, completed his successful 16-year tenure. The Firm began a new chapter well positioned for continued growth. This review highlights many of the achievements and pioneering initiatives that took place throughout the year.

As the world became increasingly fragmented, we focused on the global connections that matter to our clients. We collaborated across borders, providing integrated services and maintaining the strong personal and professional bonds that make a difference, particularly in uncertain times.

Our work on high-stakes deals, disputes and pro bono matters placed us at the center of industry trends related to energy transition, finance, technology and more. We contributed to the conversation on these issues, publishing insights that included a comprehensive report on the future of globalization. Our report, A world of clubs and fences: Changing regulation and the remaking of globalization, puts forward a new conceptual model to understand cross-border interconnectedness in a time of sweeping legal and regulatory changes.

We also increased our ability to serve clients, promoting 46 new partners and welcoming 36 lateral partners. We continued to find innovative solutions that enhance client services and foster efficiency. And as generative AI continues to make headlines, we developed tools that will enable us to embrace its possibilities, while carefully managing its risks.

Looking ahead, White & Case enters its next phase with a solid foundation and an ambitious growth plan that will keep us at the forefront of the rapidly changing legal industry. I look forward to what we and our clients will accomplish together in the coming years.

Heather K. McDevitt, Chair


Guest speakers at Firm events share views on timely topics

Business sets the pace in a global order marked by risk and fragmentation

As governments grapple with regulation and national security priorities, the private sector has stepped into the breach

Staircases on the facade of a building.
© Anzeletti / GettyImages

Challenging assumptions and setting boundaries to fight career burnout

Our learned behavior and ideas about work may keep us from operating at our best

Workers leaving the office at night in the United Arab Emirates.
© Olaser / GettyImages

Electric vehicle batteries hold center stage in the energy transition

By uniting industry participants who may seem to have divergent interests, the Global Battery Alliance is paving the way for a sustainable battery supply chain 

A close-up image of a lithium battery pack and power connectors in an electric vehicle.
© Kynny / GettyImages

Energy transition forged ahead in a complex world

The war in Ukraine and high energy prices challenged energy transition timetables, but governments and investors were determined to stay the course

Bird’s-eye view of three solar panels floating in a dam, providing a source of renewable energy. There are a couple of people riding a jet ski between the two solar panels on the left side and the one on the right.
© Songphol Thesakit / GettyImages

M&A and debt markets feel the chill

M&A and debt market activity declined in 2023, as high interest rates and macroeconomic dislocation saw increasingly cautious dealmakers and lenders put deployment on hold

A close-up image of a building in Russia with an abstract pattern of triangular-shaped polished metal panels.
© Afonkiin Yuriy / GettyImages

Generative AI boosted the technology sector in a challenging year

Growth and investment in generative artificial intelligence (GenAI) lifted the technology sector after a slowdown in transaction activity throughout 2023, but regulatory challenges loomed large

A blurry male figure walks through colorful strips of bright, sparkling lights. The lights cascade from the ceiling to the floor.
© Baona / GettyImages

Remaking globalization: A new world order

The relatively free cross-border flow of goods, capital, information and people that have characterized globalization for decades is being replaced by regulatory "clubs" and "fences"

Three colorful windows on a building in Romania that was designed using geometric patterns, with an opening in each windowpane. The windows are located one behind the other.
© Bogdan Caraman / Getty Images


Highlights of our work in 2023

Our growth and accolades

Our achievements position us for success

Our annual revenue


US$2.95 billion in revenue

Our lawyers worldwide

2,559 total lawyers




1,220US-qualified lawyers

550English-qualified lawyers

2023 new partners

Meet the talented lawyers who strengthened our Firm in 2023

The Ysalina Bridge over the Cagayan de Oro River in the Philippines is illuminated with a variety of vibrant colors.
© Nathaniel Adam Cruz / GettyImages

2023 awards & rankings

In markets around the world, White & Case earned many of the legal industry’s top accolades

A white suspension staircase enveloped by a dark shadow on an oil storage tank. The shadow is located on the right side and covers about one third of the image.
© James Brey / GettyImages

Our responsible business practices

White & Case is committed to fair and ethical operations that respect the interests of our stakeholders and recognize the importance of protecting our environment. Our Responsible Business Subcommittee leads environmental, social and governance (ESG) and sustainability efforts across our global operations.

As a signatory to the UN Global Compact, we affirm our commitment to doing business responsibly by aligning our operations with the Compact’s ten principles on human rights, labor, the environment and anti-corruption. Our most recent Communication on Progress outlines the steps we are taking to continue to embed these principles into our Firm’s operations.

Our latest Environmental Sustainability Report includes information on our sustainable operations, scope 1, 2 and 3 greenhouse gas emissions data, and our most recent Environmental Management Systems survey. Highlights from 2023 include: 

Launching our new global Sustainable Operations Guidelines, which provide guidance for running our business operations in line with best practices
Sourcing nearly half of our electricity from renewable sources, with a commitment to increasing this annually 
Completing our annual greenhouse gas emissions assessment, Carbon Disclosure Project and EcoVadis submissions 
Maintaining ISO14001 certification in our London office
Continuing to collaborate with the Legal Sustainability Alliance, which helps the legal sector take effective action on environmental issues

Diversity & Inclusion

Committed to advancing diversity and inclusion across the Firm

Our diverse workplace

11 global affinity networks

Our 11 affinity networks foster a sense of community among the Firm’s Black, Asia-Pacific, Latinx/Hispanic, Middle Eastern and North African, minority ethnic and LGBTQ+ lawyers, business services professionals and their allies. Each network sets its own agenda, initiatives and goals, which are specific to the issues it considers most important. Affinity networks create and enhance awareness of these groups within the Firm and its larger culture, drive community and connection across our global offices, and support their members with career and professional development opportunities.

24 local women’s networks

Our 24 local women’s networks are active in 40 offices across the Americas, EMEA and Asia-Pacific. These networks foster professional development and mentoring activities. They also provide a forum for our lawyers and business services professionals to share perspectives and create programs to support and retain our women while fostering and promoting gender equity.


Diversity: The numbers

Women make up:

42% of the Firm’s global management

50% of the Executive Committee

21% of other leadership roles

36% of our 2023 global partner promotions

25% of global Partnership

43% of our lawyers

In the US:

42% of our lawyers self-identify as of color

7% of our lawyers self-identify as LGBTQ+

4% of our lawyers self-identify with disabilities

28% of our partners self-identify as of color

3% of our partners self-identify as LGBTQ+

4% of our partners self-identify with disabilities

In London:

32% of our lawyers self-identify as of color

10% of our lawyers self-identify as LGBTQ+

4% of our lawyers self-identify with disabilities

13% of our partners self-identify as of color

5% of our partners self-identify as LGBTQ+

2% of our partners self-identify with disabilities



92languages spoken


Our commitment to diversity and inclusion is recognized by leading publications and alliance organizations

Number 1 Most Diverse Law Firm among top 10 US firms by revenue
(Number 2 among all firms scored) The American Lawyer Diversity Scorecard 2023
Diverse Women Lawyers: International Firm
Euromoney Legal Media Group Women in Business Awards 2023 Americas
Euromoney Legal Media Group Women in Business Awards 2023 Asia-Pacific
Top 75 employer in the UK
Social Mobility Foundation Employer Index 2023
Innovative International Law Firm of the Year
Work-Life Balance International Firm of the Year
United Kingdom Law Firm of the Year
United Emirates Law Firm of the Year 
Euromoney Legal Media Group Women in Business Awards 2023 EMEA
2023 Mansfield Certification
(Mansfield-certified since the program’s inception in 2018)
90% rating on commitment to LGBTQ+ workplace equality
Human Rights Campaign’s Corporate Equality Index 2023 – 2024

First post-pandemic Middle East Women’s Conference features candid conversations

White & Case women gather to build connections and advance career opportunities

© White & Case

Collaborating with clients around the world


world map

6 continents



In 2023 we advised clients from 
on matters in 


An internal guide addresses 20 areas of legislation in four Asia-Pacific countries

An internal guide addresses 20 areas of legislation in four Asia-Pacific countries

Silhouettes of individuals walking past an LED-lit façade of a building in Hong Kong, China, showcasing vibrant colors that constantly change. There are also two people talking in front of the building.
© Esch Collection / GettyImages

White & Case embraces GenAI—with care

A transformative technology enables new ways of working

A sparkling, wavy motif created from three-dimensional glass. The waves are thin and form loops throughout the motif.
© Shulz / GettyImages

Photo by © ASF - Architect Simone Forconi
iBridge, an interactive pedestrian bridge submitted for a design competition. Sensors on the floor of the bridge allow it to transform pedestrian and cycling traffic into usable energy. 


Financial Restructuring and Insolvency


4 min read

Maxus chapter 11 US$575 million settlement
We have represented the Maxus Liquidating Trust (the Trust), which was established pursuant to the chapter 11 plan of oil & gas company Maxus Energy Corporation and its affiliates (Maxus), in their chapter 11 cases over the past several years. As the creditors' sole source of recovery out of the Maxus bankruptcy estate, all of Maxus's claims and causes of action against its former parents, YPF S.A. and Repsol S.A. for, among other things, alter ego conduct were vested in the Trust as part of the chapter 11 plan. The Trust then commenced an action in the Bankruptcy Court for the District of Delaware and, over time, prevailed against all dispositive motions brought by defendants. When the action was set for trial, the Trust reached a global settlement with YPF and Repsol for US$575 million. The Trust's beneficiaries, Maxus's general unsecured creditors, recovered nearly 70 percent of their claims against Maxus, resulting in what we believe is the largest veil-piercing settlement of its kind in a bankruptcy proceeding.
Mainstream Renewable Power cross-border restructuring
We advised global pure-play renewable energy company Mainstream Renewable Power on a cross-border restructuring transaction that (i) restructures approximately US$1.5 billion in liabilities while permitting the equity sponsor to maintain its majority ownership in its borrower and project subsidiaries; (ii) resolves restructuring/insolvency proceedings and related litigation in the US, Chile, Ireland and Spain; and (iii) enables wind and solar projects vital to the Chilean power grid to proceed to completion and full operation.
EP Equity lock-up agreement for Casino Group restructuring
We advised EP Equity Investment III s.à r.l., a company controlled by businessman Daniel Kretinsky, on the signing of a lock-up agreement relating to Casino Group's financial restructuring, alongside Fimalac and Attestor, with Casino Group and some of its main creditors. The signing is the implementation of the agreement in principle reached in July 2023 by EP Group, Fimalac and Attestor ("the Consortium") with Casino Group and certain secured creditors. The restructuring provides for an equity injection of €1.2 billion, comprising €925 million subscribed by the Consortium, and a €6.1 billion restructuring of Casino Group's indebtedness.
Adler Group restructuring and new financing
We advised Adler Group S.A. and its subsidiaries on its successful restructuring, which included amendments to the terms and conditions of certain of its bonds with an aggregate nominal amount of €3.2 billion and the provision of up to €937.5 million of new money funding. After being heavily contested by a minority ad hoc group of bondholders, the restructuring plan was sanctioned by the High Court of England and Wales in April 2023 and, consequently, the changes to the terms of the various bonds became effective.
cloud computing

Celsius Network chapter 11 bankruptcy

We are representing the Official Committee of Unsecured Creditors in the chapter 11 case of Celsius Network LLC in the US Bankruptcy Court for the Southern District of New York, acting as the fiduciary for more than 600,000 account holders that used the Celsius platform before its bankruptcy filing. We pioneered innovative and compelling strategies to maximize creditor recoveries. Those efforts recently culminated in a chapter 11 plan that will return billions of dollars of liquid cryptocurrency to creditors as well as equity in a reorganized bitcoin mining business.

ORPEA restructuring
We advised the ORPEA Group (ORPEA) on its accelerated safeguard plan, which was approved by France's Nanterre Specialized Commercial Court in July 2023. The plan allows ORPEA to implement its financial restructuring plan in accordance with the agreement in principle reached between ORPEA, a group of French investors ("the Group") and the five SteerCo institutions coordinating a representative group of ORPEA S.A.'s unsecured financial creditors ("the Institutions"). The plan reduces ORPEA's financial debt from €7.4 billion at an individual level and €9.2 billion at the OPREA Group level by almost 60 percent, and finances its Refoundation Plan through a €600 million contribution in secured debt and €1.55 billion in equity. This procedure was the first—and a groundbreaking—implementation of the new French restructuring regime, which provides for a chapter 11-like regime in France.
Boy Scouts of America chapter 11 plan affirmed
We represented the Boy Scouts of America (BSA) in its chapter 11 plan of reorganization, confirmed by the Bankruptcy Court in 2022 and affirmed by the US District Court for the District of Delaware in April 2023, allowing the BSA to emerge from bankruptcy. The plan is the largest settlement of sexual abuse claims in the US, establishing a trust of US$2.46 billion plus insurance rights valued by the Bankruptcy Court at US$4 billion. In September 2023, the trust began making payments to abuse survivors.