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Founding Partner, Left Higher and Dreier? Blame Canada

Marc Dreier Marc S Dreier LLP.jpgProminent New York litigator Marc Dreier -- founder and managing partner of Dreier LLP, former head of litigation for Fulbright & Jaworski (NY), and former litigation partner at Rosenman & Colin -- was arrested in Toronto on Tuesday. The arrest was carried out by Canadian law enforcement.

The alleged offense appears to be financial in nature, with sources mentioning money laundering and misuse of escrow funds as possible charges. The Ontario Teachers Pension Fund and Fortress Investment Group may be involved in some capacity.

The effect of Dreier's arrest on the firm that bears his name is unclear, but certainly not good. Sources report that some firm escrow accounts have been frozen by law enforcement authorities. Emergency partnership meetings were held Wednesday and today. (This may explain why Marc Dreier and a firm spokesperson did not immediately return our calls seeking comment.)

Marc Dreier lives well, with a fabulous Manhattan apartment rumored to rent for $50,000 a month, plus a place out in the Hamptons. "He lives the life of Greek billionaire tycoon, but he doesn't make that much money," says a former employee.

Dreier may not be a Greek billionaire tycoon, but Dreier LLP has been quite successful. According to its firm profile, since its founding in 1996, Dreier has grown to include more than 250 attorneys in six cities. The firm has had a number of high-profile clients, including billionaire developer Sheldon Solow and controversial book publisher Judith Regan (whom the firm later sued, claiming she skipped out on legal fees).

The firm's holiday party was scheduled to take place tonight at the Waldorf. Not surprisingly, the festivities have been canceled. On one social networking site, a former Dreier employee wrote: "[xxxx] is wondering how he could work for two law firms (Milberg Weiss and Dreier) where both firms' lead partners were arrested.... Sad commentary on life."

Update (1:40 AM): Some addenda and corrections:

1. Escrow accounts haven't been frozen; they're just short some cash -- a lot of cash. One number being bandied about: $38 million.

2. The firm may not be able to make its next payroll, on December 15. There is only $300,000 in the payroll account, and the next payroll is for $2.6 million.

3. Fortress Investment Group is not involved.

4. The holiday party was canceled by an email sent out at around 5 p.m.

Further Update (6:35 PM): Actually, we were right the first time. Fortress Credit Corp., the entity involved in this matter, is a subsidiary of Fortress Investment Group, according to Am Law Daily.

We'll keep you posted. If you have info to share, feel free to email us. Thanks.

Comments
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1 Posted by guest | Permalink Thursday, December 4, 2008 6:28 PM

WHOA IS ME!

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2 Posted by guest | Permalink Thursday, December 4, 2008 6:29 PM

shit, i read the post before posting first

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3 Posted by guest | Permalink Thursday, December 4, 2008 6:34 PM

THIRD

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4 Posted by guest | Permalink Thursday, December 4, 2008 6:35 PM

Looks like Pat Buchanan

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5 Posted by guest | Permalink Thursday, December 4, 2008 6:36 PM

Damn Elie, nice post. You're starting to get the hang of this.

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6 Posted by guest | Permalink Thursday, December 4, 2008 6:36 PM

Yale College, Harvard Law School - nice creds.

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7 Posted by guest | Permalink Thursday, December 4, 2008 6:37 PM

Umm, this is a Lat post.

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8 Posted by guest | Permalink Thursday, December 4, 2008 6:43 PM

MysTTal.

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9 Posted by guest | Permalink Thursday, December 4, 2008 6:49 PM

Guys at my high school used to live like Greek billionaire tycoons all the time, it was no big deal.

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10 Posted by guest | Permalink Thursday, December 4, 2008 6:52 PM

He gave $2300 to Bill Richardson for president. That means he's not only a crook but an idiot too.

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11 Posted by guest | Permalink Thursday, December 4, 2008 7:03 PM

When will these scummy plaintiff's class action firms learn and stop putting partner's names on their firm letterhead. They'll just have to reorder when the name partners get indicted.

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12 Posted by guest | Permalink Thursday, December 4, 2008 7:08 PM

Perhaps his wealth stems from his family's ice cream business?

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13 Posted by guest | Permalink Thursday, December 4, 2008 7:09 PM

No, dumbass, that's Breyers:

http://www.icecreamusa.com/breyers/

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14 Posted by guest | Permalink Thursday, December 4, 2008 7:11 PM

Dreyers is also an ice cream.

http://www.dreyers.com/main/index.asp?b=104

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15 Posted by guest | Permalink Thursday, December 4, 2008 7:13 PM

No more parties with Michael Strahan and Diana Ross, I take it:

http://strahandreier.com/

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16 Posted by guest | Permalink Thursday, December 4, 2008 7:15 PM

Why did he raise his eyebrow during the photo shoot? THAT'S the real question.

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17 Posted by guest | Permalink Thursday, December 4, 2008 7:16 PM

But different spelling, no relation to the ice cream: Dreier vs. Dreyers.

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18 Posted by guest | Permalink Thursday, December 4, 2008 7:17 PM

He's winking, like Sarah Palin.

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19 Posted by guest | Permalink Thursday, December 4, 2008 7:23 PM

Good lord... it's going to be a bloodbath in here... trust me

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20 Posted by guest | Permalink Thursday, December 4, 2008 7:30 PM

What the under/over on Benjamin Brafman getting retained to defend Dreier?

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21 Posted by guest | Permalink Thursday, December 4, 2008 7:36 PM

Dreier is more of a collection of fiefdoms than a unified firm. That may actually make it easier for them to weather something like this.

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22 Posted by guest | Permalink Thursday, December 4, 2008 7:48 PM

First to say Canada is TTT.

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23 Posted by guest | Permalink Thursday, December 4, 2008 7:49 PM

So is ATL gonna ignore the fact that some guy at Paul Weiss got killed in an S&M love triangle murder-suicide? I mean, the comments alone are worth a post.

http://www.nypost.com/seven/12042008/news/regionalnews/lawyers_deadly_secret_142622.htm

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25 Posted by guest | Permalink Thursday, December 4, 2008 7:52 PM

7:49 - ATL didn't ignore that story. They wrote about it hours ago:

http://abovethelaw.com/2008/12/paul_weiss_attorney_shot_by_de.php

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26 Posted by guest | Permalink Thursday, December 4, 2008 8:02 PM

Used to work for that firm. For what it's worth it was a pretty cool place to work for, and there are a lot of friends still there whose jobs hang in the balance. He wasn't a total a-hole, but obviously he was a greedy bastard

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27 Posted by guest | Permalink Thursday, December 4, 2008 8:09 PM

One time I was in an airport bathroom and this dude swiped his left hand, palm down underneath the stall divider. He then tapped his foot three times. What happened next was pure... magic!

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28 Posted by guest | Permalink Thursday, December 4, 2008 8:32 PM

i work for one of the dreier affilliate firms and wonder how all of this is going to go down. we depend on his money.

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29 Posted by guest | Permalink Thursday, December 4, 2008 8:33 PM

i work for one of the dreier affilliate firms and wonder how all of this is going to go down. we depend on his money.

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30 Posted by guest | Permalink Thursday, December 4, 2008 8:34 PM

Makes me wish I were working for one of those "not getting a bonus this year" firms...

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31 Posted by guest | Permalink Thursday, December 4, 2008 8:48 PM

@ 28- You're screwed. I'd be the first on the resume forwarding or unemployment line. He's the only equity partner, what happens to him, happens to the firm. I hope you find something... and soon... like right now. Start looking RIGHT NOW!

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32 Posted by guest | Permalink Thursday, December 4, 2008 8:52 PM

Is that a picture of Robert Urich?

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33 Posted by guest | Permalink Thursday, December 4, 2008 9:15 PM

haha.. this post was from Lat, not Elie..

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34 Posted by guest | Permalink Thursday, December 4, 2008 9:21 PM

I'll be rooting against Dreier. I interviewed with the firm during interview week (several months ago), and I have yet to hear anything back. Some professional courtesy would have been nice.

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35 Posted by guest | Permalink Thursday, December 4, 2008 9:46 PM

34-
Wondering where you go to school. I also interviewed with them during OCI and of all 30-odd interviews I had, they were the only firm that didn't get back to me. And I was a bit disappointed, because the interviewer (partner) spoke about the firm in a really intriguing way - he kept referring to Marc Dreier without actually mentioning his name, saying things like "he runs things differently here," and "he knows which clients he wants and then goes out and gets them." It was a very weird interview, made even more strange by the fact that they're not a NALP employer, so going into the interview I had been unable to (easily) ascertain basic information like how many attorneys, starting salary, etc.

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36 Posted by guest | Permalink Thursday, December 4, 2008 9:51 PM

Is this information posted somewhere so I can view the original source?

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37 Posted by guest | Permalink Thursday, December 4, 2008 9:56 PM

34 and 35 did you interview at dreier llp in new york or one of the other six affilliates:
Dreier Stein Kahan Browne Woods George LLP
Dreier Stein Kahan Browne Woods George LLP is the Los Angeles affiliate of Dreier LLP. Dreier Stein Kahan Browne Woods George’s principal practice is in entertainment litigation and corporate transactions. The firm’s partners include entertainment litigator Stanton “Larry” Stein, corporate attorney Robert L. Kahan, both formerly of Santa Monica, California-based Alschuler Grossman Stein & Kahan LLP, and business litigators Allan Browne, Edwards Woods and Eric George, formerly of Browne Woods George LLP. continued

Schlesinger Gannon & Lazetera LLP
Schlesinger Gannon & Lazetera LLP, one of the most distinguished and widely recognized Trusts and Estates practices in New York, is led by Sanford J. Schlesinger, formerly the chairman of the Trusts and Estates Department at the Kaye Scholer firm. Schlesinger Gannon & Lazetera LLP is of counsel to Dreier LLP and is housed within the Dreier LLP offices at 499 Park Avenue. continued

Pitta & Dreier LLP
Pitta & Dreier LLP specializes in the practice of labor, employment and employee benefits law. Pitta & Dreier LLP is counsel to Dreier LLP and maintains its offices within the Dreier LLP offices in New York City as well as in Albany. The practice is led by Vincent F. Pitta, a widely recognized leader in labor law. continued

Pitta, Bishop, Del Giorno & Dreier LLP
The consulting and government relations practice of Dreier LLP is handled through our affiliate firm Pitta, Bishop, Del Giorno & Dreier LLP, which has built a reputation for cutting-edge advocacy before New York State and New York City government agencies and regulators. Pitta, Bishop engages in New York State and New York City government affairs, lobbying, public and private sector business expansion, election campaign finance consulting, community relations, constituency and coalition building and crisis management. continued

Dreier Sports Opportunities Group LLC
Dreier Sports Opportunities Group LLC is the sports marketing and consulting firm affiliate of Dreier LLP. Dreier Sports Opportunities is a comprehensive marketing and consulting business for individuals and organizations in the sports industry. Our services match business and personal interests, assets, and opportunities to promote, protect, and profit in the world of sports. continued

Mason Miller LLP
Mason Miller LLP is a unique firm that focuses on the representation of creative talent in all areas of the entertainment, sports and lifestyle industries. We are committed to leveraging our clients’ diverse talents into multiple income streams, helping them to take full advantage of a complete range of synergistic opportunities, and creating long-term brand name success and artistic fulfillment for our clients. Each of our attorneys is trained and experienced in a full ranging entertainment and media practice and across the board from electronic media to merchandise sales to licensing. continued

Berry Block & Bernstein LLC
B3 is an inventive, entrepreneurial management consulting firm. We are dedicated to delivering state-of-the-art services for building global competencies that enhance individual and organizational success. We assist clients in all business sectors across varied cultures to identify their highest-value human capital opportunities and address the challenges of change. continued

Rosito Vago Law Firm
Dreier LLP is affiliated with the Rosito Vago law firm in Buenos Aires, Argentina. The firms collaborate in representing clients with U.S./Argentine interests and in particular in representing bondholders in actions for default against the Republic of Argentina and the Province of Buenos Aires. Dreier LLP is currently representing over 800 such bondholders in federal court in New York. continued

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38 Posted by guest | Permalink Thursday, December 4, 2008 10:00 PM

i work on one of these affilliate additional offices in Los Angeles and Santa Monica, California; Albany, New York; Stamford, Connecticut; and Pittsburgh, Pennsylvaniaand also wonder how all this is going to go down for us.

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39 Posted by guest | Permalink Thursday, December 4, 2008 10:03 PM

Good job scooping this story. Not a single Google News article re: "Marc Dreier" yet.

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40 Posted by guest | Permalink Thursday, December 4, 2008 10:10 PM

37-
I interviewed at Dreier LLP in New York
-34

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41 Posted by guest | Permalink Thursday, December 4, 2008 10:20 PM

35, 37-
It was with Dreier LLP in New York. at a CCN interview week.
-the real 34

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42 Posted by guest | Permalink Thursday, December 4, 2008 10:25 PM

34/41-
sorry, my bad, I meant 35
-35/40

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43 Posted by guest | Permalink Thursday, December 4, 2008 10:29 PM

41: What's with "CCN"? Why won't you say which one? Shall we assume it's NYU? It's not Chicago, that's for sure.

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44 Posted by guest | Permalink Thursday, December 4, 2008 10:43 PM

I worked at Dreier as a summer associate while in school. It is a fantastic firm, with great people--none of whom deserve to be dealing with this mess. This is very sad news and I wish everyone affected by this a smooth recovery.

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45 Posted by guest | Permalink Thursday, December 4, 2008 10:44 PM

Hooray it's Lat

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46 Posted by guest | Permalink Thursday, December 4, 2008 10:44 PM

Are there PEANUTS and CHEESE in Canada?
Are there PEANUTS and CHEESE in Canada?
Are there PEANUTS and CHEESE in Canada?
Are there PEANUTS and CHEESE in Canada?
Are there PEANUTS and CHEESE in Canada?

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47 Posted by guest | Permalink Thursday, December 4, 2008 10:55 PM

where is the cock patrol? I miss the late night cock fests.

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48 Posted by guest | Permalink Thursday, December 4, 2008 11:10 PM

i worked as a summer associate at Dreier and think it is a great firm. It is a dynamic, but friendly place. The people there are great. I hope they emerge from all this unscathed.

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49 Posted by guest | Permalink Thursday, December 4, 2008 11:11 PM

35 - That is both awesome and incredibly creepy.

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50 Posted by guest | Permalink Thursday, December 4, 2008 11:11 PM

They used to force labor on junior associates in Dreier NY. Partners assigned ball photocopying even if it was not strictly necessary.

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51 Posted by guest | Permalink Thursday, December 4, 2008 11:34 PM

Is there a main stream media/Canadian press report on this? All there is right now is Lat's posting. For all anyone knows, this site got hacked by some disgruntled ex-Dreier employee.

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52 Posted by guest | Permalink Thursday, December 4, 2008 11:43 PM

Its true...we cleaned out our desks tonight. Totally surreal. Wonderful people at this firm that are suffering due to one man's flaws. Quite unfortunate.

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53 Posted by guest | Permalink Thursday, December 4, 2008 11:48 PM

11:43 - Why should one man's alleged misconduct require all of you to clean out your desks?

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54 Posted by guest | Permalink Thursday, December 4, 2008 11:50 PM

11:48 - cause we have no money and thus will receive no more pay checks.

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55 Posted by guest | Permalink Thursday, December 4, 2008 11:50 PM

52, that makes zero sense.

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56 Posted by guest | Permalink Thursday, December 4, 2008 11:50 PM

I've had the pleasure with working with a lot of really good people there. I'm truly sorry to hear this.

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57 Posted by guest | Permalink Thursday, December 4, 2008 11:54 PM

No news yet on the Dreier website.

http://www.dreierllp.com/index2.php?id=4&cat=150

On a more serious note, 52 post can't be true, can it? How can a firm of 250 collapse on the basis of one person's departure?

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58 Posted by guest | Permalink Thursday, December 4, 2008 11:54 PM

Rumor is that the firm is unable to make payroll this week - not enough money in the bank.

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59 Posted by guest | Permalink Thursday, December 4, 2008 11:56 PM

@53 Why are we all cleaning out our desks?
1. He is the only equity partner
2. He is facing prosecution by the US Atty General office for the misuse of client escrow funds
3. That means he loses his license to practice
4. NO LICENSE NO PRACTICE NO OWNER OF A LAW FIRM.

In order to run a firm you must be an attorney especially when it comes to attorney/client funds.

It's sad that a man can ruin the lives of so many. As stated above there are many affiliations that are all effected.

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60 Posted by guest | Permalink Thursday, December 4, 2008 11:57 PM

I am not sure about all the details in Lat's posting, but it is true that tonight's holiday party was canceled.

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61 Posted by guest | Permalink Thursday, December 4, 2008 11:59 PM

11:56 - Is he facing U.S. or Canadian charges? I'm confused.

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62 Posted by guest | Permalink Friday, December 5, 2008 12:01 AM

@61 both. He is out on bail from Canada and will be in court in New York tomorrow morning. The details are true. This coming from an employee that is living through this as we speak. Once you hear no paycheck why would you go to work? We will be out there trying to secure new employment. Quite sure the feds will start confiscating items.

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63 Posted by guest | Permalink Friday, December 5, 2008 12:03 AM

61, exactly.

At this moment, only Lat's posting asserts this allegation. No other media has picked it up. It may be true, but then again . . .

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64 Posted by guest | Permalink Friday, December 5, 2008 12:03 AM

no. 59 what is going to happen at dreier in new york from this point forward? who is going to run the firm if he is the only equity partner. i work at one of the dreier affiliate firms on the west coast. when you say "we are cleaning out out desks" do you mean everyone or just attorneys or just staff.

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65 Posted by guest | Permalink Friday, December 5, 2008 12:06 AM

@63 I'm not here to convince you whether it's right or not. As stated I am an employee so I know what the real deal is. The firm is no more. We are not collecting a paycheck. What a great Christmas bonus to us. Talk to me when it comes out. Heck the news was already camped out in front of the Waldorf that's why the party was cancelled.

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66 Posted by guest | Permalink Friday, December 5, 2008 12:09 AM

@64 When I say everyone I mean everyone. Partners, Associates, Staff no one is excluded. Heck even the fricking cleaning people didn't clean our floors. We were told to take your personal stuff home tonight! Point blank. Some of us that are dedicated to our attorneys will be going in tomorrow but it is not promised that we will be let in.

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67 Posted by guest | Permalink Friday, December 5, 2008 12:09 AM

Dreier LLP is a service company, but not a law firm. This is all a strange set-up.

Marc Dreier provides some sort of umbrella and various practice groups are their own firm with Dreier an equity partner along with that practice group's partners. In NY a law firm can not be an LLP. The service firm may be SOL, but the practice groups are fine.

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68 Posted by guest | Permalink Friday, December 5, 2008 12:13 AM

Please tell me how the practice groups are fine??? Are you an employee with Dreier???? Probably not because you would know that they ("practice groups") were in there scrambling just like us!!! So they may have some money and maybe even clients. Did you check out the economy lately where are they going to get the funds to set up shop someplace else?????

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69 Posted by guest | Permalink Friday, December 5, 2008 12:13 AM

It seems unlikely that a firm would tell everyone to pack their things and shut down in 1-2 days. Poster #66, who gave such an order? Sounds fishy... No doubt there is confusion and dismay, but to think it all ends in 1 day with little or no plan makes no sense, and everyone goes home and turns off the lights, well, that is just too hard to believe...

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70 Posted by guest | Permalink Friday, December 5, 2008 12:17 AM

@69 I did not say that the firm was closing in 1 or 2 days. I stated that we were told to take our personal property home. It is apparent that the doors will not be shut 1,2,3 but the questions was posed to attorneys "if it were you would you be taking your stuff home" answer "yes". Enough said.

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71 Posted by guest | Permalink Friday, December 5, 2008 12:17 AM

Marc Dreier is a notorious sociopath. He was bankrupt in the 90's, thrown out of the Harmony Club for not paying his dues, lives high on the hog, sells out his clients, is a major shakedown artist and belongs in prison.

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72 Posted by guest | Permalink Friday, December 5, 2008 12:18 AM

68 Are you serious? If you are, then the partners were stupid to join a set-up were there is one equity partner. Think of all reasonable scenarios.

This can't be real.

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73 Posted by guest | Permalink Friday, December 5, 2008 12:19 AM

I hope that the MSM gives Lat / ATL some credit when they pick up coverage of this story tomorrow.

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74 Posted by guest | Permalink Friday, December 5, 2008 12:20 AM

@72 it's real. In the Partner meeting today they ripped him up and chewed him out. Their biggest beef why did they never know what was going on with the books! Partners are Partners in name only. No contribution financially other than bringing clients to the firm for which you may take a percentage of the fees collected.

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75 Posted by guest | Permalink Friday, December 5, 2008 12:23 AM

74, so the alleged arrest is separate from financial difficulties? The financial difficulties may have provided a motive for the alleged arrest?

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76 Posted by guest | Permalink Friday, December 5, 2008 12:24 AM

73, there is nothing by the msm on this, US or CA.

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77 Posted by guest | Permalink Friday, December 5, 2008 12:25 AM

Going to bed. I hope this is just a bad joke. If not, I hope everyone will be fine.

But . . . All there is right now is Lat's posting. For all anyone knows, this site got hacked by some disgruntled ex-Dreier employee.

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78 Posted by guest | Permalink Friday, December 5, 2008 12:26 AM

No alleged arrest. HE WAS ARRESTED! His trying to live beyond his means is the financial difficulty which hundreds of us will now have to pay for.

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79 Posted by guest | Permalink Friday, December 5, 2008 12:30 AM

"arrested in Toronto on Tuesday" and no msm coverage by Thursday?

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80 Posted by guest | Permalink Friday, December 5, 2008 12:31 AM

Come on down to the Dreier offices tomorrow. You will see the proof for yourselves.

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81 Posted by guest | Permalink Friday, December 5, 2008 12:43 AM

Okay. The person who is saying all these stuff about Marc Dreier are you a staff member or an actual partner who has been to the meetings and knows everything. It kind of sounds like you are a part of the staff and have heard bits and pieces of information and have something against Marc Dreier without knowing if it is actually true that all these things have happened?

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82 Posted by guest | Permalink Friday, December 5, 2008 12:59 AM

This is a very strange story.....

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83 Posted by guest | Permalink Friday, December 5, 2008 1:10 AM

So what happened, you never said if you were a partner or just a staff member who is saying stuff? Because there was nothing about any partners or associates not getting paid and leaving the firm so I am not sure where you got all this story from?

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84 Posted by guest | Permalink Friday, December 5, 2008 1:21 AM

It is a strange story but true. This is not a story by a disgruntled ex-employee. Dreier was arrested in Canada. Will get bail, since it is not a felony charge -- and will be back in NY on Friday. Not enough money in the bank to cover the next payroll, even if all partners forego being paid. From the details I know, it sounds like greed, a massive sense of entitlement plus a hint of megalomania have brought Dreier to this shameful level. And Dreier was in total and sole control of the books and other partners/staff were just given glib press release type information, ("the firm is in great shape" see Enron for another example).

He lives a lifestyle that is more extravagant than the Queen of England -- without the crown jewels or cash to back it up.

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85 Posted by guest | Permalink Friday, December 5, 2008 1:21 AM

is this guy a real life denny crane??

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86 Posted by guest | Permalink Friday, December 5, 2008 1:43 AM

"Before someone thinks of blaming us."

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87 Posted by guest | Permalink Friday, December 5, 2008 1:47 AM

84 - how do you know the charges against dreier aren't felonies? Just because he's eligible for bail?

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88 Posted by guest | Permalink Friday, December 5, 2008 1:59 AM

Wow, I feel bad for anyone depending on this guy for their paycheck. As if times weren't bad enough already.

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89 Posted by guest | Permalink Friday, December 5, 2008 2:12 AM

My understanding is that Marc Dreier's bail hearing is in Toronto Friday morning. Does anyone know which court and when? Or (per some of the prior posts), if that's not correct and his hearing is in NY, in which court and when? (we would like to have counsel at either hearing if we can find out where and when)

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90 Posted by guest | Permalink Friday, December 5, 2008 2:36 AM

Marc Dreier has a long history of stealing from his clients. He is the king of the shakedown, extortion, misrepresentation, malpractice. It was ok with his partners when he did it to others and they were reaping the benefits. How does it feel now that he's done it to you? Self-centered psycho. You let him do it to others. Remember that when you don't get paid next week.

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91 Posted by guest | Permalink Friday, December 5, 2008 2:38 AM

does anyone know how this is going to play out for:

Dreier Stein Kahan Browne Woods George LLP
Dreier Stein Kahan Browne Woods George LLP is the Los Angeles affiliate of Dreier LLP.

Schlesinger Gannon & Lazetera LLP
Schlesinger Gannon & Lazetera LLP, one of the most distinguished and widely recognized Trusts and Estates practices in New York,.

Pitta & Dreier LLP
Pitta & Dreier LLP specializes in the practice of labor, employment and employee benefits law. Pitta & Dreier LLP is counsel to Dreier LLP and maintains its offices within the Dreier LLP offices in New York City

Pitta, Bishop, Del Giorno & Dreier LLP
The consulting and government relations practice of Dreier LLP is handled through our affiliate firm Pitta, Bishop, Del Giorno & Dreier LLP,

Dreier Sports Opportunities Group LLC

Mason Miller LLP

Berry Block & Bernstein LLC.

Rosito Vago Law Firm
Dreier LLP is affiliated with the Rosito Vago law firm in Buenos Aires, Argentina. .

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92 Posted by guest | Permalink Friday, December 5, 2008 2:41 AM

number 90 how do you know all this info about marc being a total sheister

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93 Posted by guest | Permalink Friday, December 5, 2008 6:36 AM

80... basically I just want to take you out for some dinner, have a little wine, maybe fool around some; then head on back to your place for some of that hardcore trombone action.

Call me.

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94 Posted by guest | Permalink Friday, December 5, 2008 6:37 AM

80... basically I just want to take you out for some dinner, have a little wine, maybe fool around some; then head on back to your place for some of that hardcore trombone action.

Call me.

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95 Posted by guest | Permalink Friday, December 5, 2008 7:09 AM

I fail to see how the two things are related:
Is the firm lacking cash because of Marc Dreier's arrest?
Would it lack cash even if Marc Dreier had not been arrested?
If it lacks cash and cannot pay its employees, it just means that the firm is badly managed or not doing well, and those employees would have anyway been laid off, regardless of M. Dreier's arrest.

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96 Posted by guest | Permalink Friday, December 5, 2008 7:12 AM

I realize it's not the best and most trustworthy newspaper, but still:

http://www.nypost.com/seven/12052008/news/nationalnews/star_lawyer_in_fraud_bust_142778.htm

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97 Posted by guest | Permalink Friday, December 5, 2008 7:30 AM

Dear No. 5: Read the by line.

Yes, finally a great post--by David Lat.

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98 Posted by guest | Permalink Friday, December 5, 2008 7:43 AM

I hope that Nervous T10 1L did not have an interview at this firm

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99 Posted by guest | Permalink Friday, December 5, 2008 8:27 AM

Ok Amy Greenfield (PR person) stop posting bios. The
firm is done.

The firm is not done because of his arrest. The firm is done because once he was arrested, it was discovered that the escrow accounts had been cleaned out. Sone estimates say $38 million, some more. Im sure once Canada is done with him, the US Feds will be waiting. This guy has been robbing Peter to pay Paul since this sham started.

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100 Posted by guest | Permalink Friday, December 5, 2008 8:38 AM

The people are cleaning out because the payroll account is virtually empty.

Dreier is nothing but a glorified landlord. He provides space and services only. He gives groups and/or individual attorneys a 2 or 3 year contract with benchmarks. If the benchmarks are not met, he moves the attorney into a smaller office to shame then and then he boots them out. If they meet their benchmark, they get a percentage of the extra. Well that is if doesn't close shop and they get screwed.

Though the firmhas a very laid back atmosphere and most people there are very cool, the 23rd floor is where the devil and his minions reside. Maec Drrier is a notorious drunk and cokehead and his moods are never the same. He loves to scream (typical smallman complex) and his sociopath assistant (Kate Sullivan) routinely belittles everyone there consistently telling people they will be fired for any arbitrary reason. Anyone there lives in fear of Kate and she is the most hideous assistant many have ever seen.

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101 Posted by guest | Permalink Friday, December 5, 2008 8:40 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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102 Posted by guest | Permalink Friday, December 5, 2008 8:42 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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103 Posted by guest | Permalink Friday, December 5, 2008 8:42 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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104 Posted by guest | Permalink Friday, December 5, 2008 8:42 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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105 Posted by guest | Permalink Friday, December 5, 2008 8:42 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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106 Posted by guest | Permalink Friday, December 5, 2008 8:43 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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107 Posted by guest | Permalink Friday, December 5, 2008 8:44 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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108 Posted by guest | Permalink Friday, December 5, 2008 8:44 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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109 Posted by guest | Permalink Friday, December 5, 2008 8:44 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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110 Posted by guest | Permalink Friday, December 5, 2008 8:45 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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111 Posted by guest | Permalink Friday, December 5, 2008 8:45 AM

84 responding -- he was just starting out on the fraud and was found out before it the scam could escalate.

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112 Posted by guest | Permalink Friday, December 5, 2008 8:45 AM

Marc Dreier is also a scumbag for other reasons. He had an affair with one if the attorney's wife (Mona....no pun I sweat) and then he fired the attorney and made her his other assistant. Mona was not a sociopath like Kate, but hard to give her props for her adulterous affair. Dreier also has another 2-3 female assistants whose only job is to help his other assistants. He probably spends over a half million a year in salary for them alone.

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113 Posted by guest | Permalink Friday, December 5, 2008 8:47 AM

100 - please tell Kate to send me her resume. I could use a secretary like her.

- Biglaw Partner

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114 Posted by guest | Permalink Friday, December 5, 2008 8:53 AM

The thing that pisses me off the most is that this might mean we will no longer have those great summer parties at Marc's house in the summer. I really liked the lobster and free drinks! Hopefully we will all get invited again this summer....even if he is in prison! Remember to bring those boogie boards!

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115 Posted by guest | Permalink Friday, December 5, 2008 8:59 AM

Dreier even though he pals around with Strahan has management that clearly discriminates. Vurtually the whole services staff that was made up of African American employees was fired replaces with young white men who had never even worked in a law firm, yet alone in a copy room. They even had the audacity have to have the African American employees train them. Friends of management were hired to run the services group. THREE family members--2 guys and their sister were put in charge of the department. Can you imagine this kind of nepotism happening at any other large firm on NYC. Maagement and Dreier's assistants routinely hired friends with zero experience and who had never even worked at a law firm. This place was run with a cowboy mentality that was laughable if not so serious. IT people that had never worked at a law firm and didn't even know legal software, secretaries making 6 figures that didn't know much, paralegals that were rtlated to management and who had zero legal experience. This place was a disaster waiting to happen. If Dreier's greed didn't bring it down, the sophmoric and unsophisticated mentality of management would have sooner or later.

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116 Posted by guest | Permalink Friday, December 5, 2008 9:21 AM

84, can you respond again?

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119 Posted by guest | Permalink Friday, December 5, 2008 9:40 AM

WSJ law blog ripped their entire front page from ATL. no new reporting whatsoever. WSJ law blog is the Nervous T10 1L of the law blog world.

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120 Posted by guest | Permalink Friday, December 5, 2008 9:43 AM

100 is right.
Dreier is a glorified landlord, payroll processor, and medical benefits group. The arrangement would work great if he was not so old-school greedy. I pity the hundreds of people who will not get paid right before the holiday season...and in this economy.
Greed sucks.

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121 Posted by guest | Permalink Friday, December 5, 2008 9:54 AM

I work for a multi-billion dollar corporation and can tell you without a shred of doubt that when payroll goes out the funds are deposited. If you look in our payroll account 10 days before the issue date you would not find enough to pay for a cup of coffee. I've done business with Dreier and while he is the only equity partner and may not be embraced by many competitors the firm has a very viable enterprise and if in the end Dreier goes away the firm will continue. Right now I think what we're seeing is an attempt by other firms to cash in on the panic and try to steal the talent that they want. If there are people cleaning out their desks 10 days before payroll based on a rumor then they must be insane because they still have a job and benefits at this time. Best of Luck.

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122 Posted by guest | Permalink Friday, December 5, 2008 9:54 AM

Well it is definately in the NY Post. This is terrible to have to happen to employees who will now suffer. It was a very strange set-up and a disaster waiting to happen, hat is why no single person should ever hold equity control over any company. What were the other partners thinking, signing up for a set-up like this. That would make them partners in title only, they never really were a partner. With no funds to support the firm, the company is finished. I don't believe that they have all good samaritan employees who will work for free! Plus, he still controls the equity.

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123 Posted by guest | Permalink Friday, December 5, 2008 10:21 AM

I'm sorry to ruin the party but I've just heard that payroll on the 15th is not in any jeopardy. Have a good weekend.

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124 Posted by guest | Permalink Friday, December 5, 2008 10:28 AM

mean that all the employees are not being let go

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125 Posted by guest | Permalink Friday, December 5, 2008 10:28 AM

mean that all the employees are not being let go

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126 Posted by guest | Permalink Friday, December 5, 2008 10:32 AM

I just heard that Marc is now considering adding a new white collar defense group.

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127 Posted by guest | Permalink Friday, December 5, 2008 10:33 AM

New post up now (discussing the NYP and NYT articles):

http://abovethelaw.com/2008/12/marc_dreier_arrest_update.php

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128 Posted by guest | Permalink Friday, December 5, 2008 10:40 AM

Marc Dreir has never declared bankruptcy. When Marc Dreir gets in trouble, he transfers his debt to...William Charles Scheider.

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129 Posted by guest | Permalink Friday, December 5, 2008 10:45 AM

Are all the associates cleaning out their desks and leaving

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130 Posted by guest | Permalink Friday, December 5, 2008 10:50 AM

Did they let the employees into their offices

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131 Posted by guest | Permalink Friday, December 5, 2008 11:02 AM

#115 is an absolute moron. All of those "nepotism" hires have undergradutate degrees and cleaned up your mess of a department. I am an attorney and you are a joke sir. In this day and age it is easy to throw the race card around. Plain and simple do your job and you dont get fired sir.

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132 Posted by guest | Permalink Friday, December 5, 2008 11:05 AM

Check the NY Times: http://cityroom.blogs.nytimes.com/2008/12/05/new-york-lawyer-is-arrested-in-toronto/

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133 Posted by guest | Permalink Friday, December 5, 2008 11:08 AM

For years we have been bringing all the news of Paul Traub and the many fraud schemes he deals in. The rogue elements in the DE Dept of Justice gave him unlawful, implied, blanket, immunity in the $300 million eT