M&A, Restructuring Bankers Spar at Perella Weinberg Trial (1)

A courtroom showdown between Perella Weinberg Partners and a group of former partners who were fired a decade ago has portrayed a gulf between M&A and restructuring bankers.

The monthlong trial, which neared a close Friday with the end of the presentation of evidence, has featured testimony by both Joseph Perella and Peter Weinberg, two Harvard Business School graduates who became Wall Street royalty. Pitted against them was the restructuring team led by Michael Kramer, who founded Ducera Partners after he was terminated from Perella Weinberg in 2015.

Michael Kramer exits court in New York on Feb. 21.

Photographer: David Dee Delgado/Bloomberg

In his testimony, Kramer described how he and three ...