4. Assigning Blame in Dewey’s Collapse [DealBook / New York Times]
Peter Lattman wrote a fantastic profile of Steve Davis, which came out over the weekend. It’s a great read, and it answers some of the questions left open in our earlier profile (e.g., why Davis went to LeBoeuf Lamb out of Yale Law School, what’s the deal with his personal life, etc.). Check it out here.
5. Bruce Bennett to Leave Dewey for Jones Day [WSJ Law Blog]
6. Corporate Finance Heavy, Michael Fitzgerald, Leaves Dewey for Paul Hastings [WSJ Law Blog]
The titles of these posts say it all. Bruce Bennett was, along with Martin Bienenstock, one of Dewey’s top bankruptcy partners. He recently closed the big Dodgers deal (and wanted to wait until that transaction was finished before moving).
Michael Fitzgerald served as co-chair of Dewey’s corporate finance group and chair of its Latin America practice. Fitzgerald wasn’t at Dewey for very long; he joined less than a year ago (from Milbank Tweed). He’s moving to Paul Hastings with three of the lawyers who accompanied him from Milbank: Taisa Markus, Joy Gallup, and Arturo Carrillo.
7. As Dewey Collapses, Partners and Retirees Face Big Financial Losses [New York Times]
In this NYT piece, personal finance reporter Tara Siegel Bernard discusses the financial implications of Dewey’s downfall for current and former partners, as well as employees of the firm (whose retirement benefits may be affected). One of the interesting tidbits in this piece is that former partner Morton Pierce, now at White & Case, had a contract for $8 million a year (not the $6 million a year that was previously reported).
8. Dewey Pay Guarantees May Be Worth a Dime on the Dollar [Bloomberg Businessweek]
More bad news for Dewey partners like Mort Pierce: the 100 of them or so with guaranteed contracts might get as little as a dime on the dollar, which is in line with what vendors might end up getting, and that’s if they’re lucky — they might end up with nothing. Speaking of vendors and other service providers, one of them, a unit of ABM Industries, is suing Dewey for $300,000 in unpaid bills for janitorial services.
9. Dewey Enters Final Days as Terminated Employees Leave [American Lawyer (sub. req.)]
What was it like to be in the New York offices of Dewey on Friday, the last day of work for many non-lawyer employees? Claire Zillman offers this detailed report. It has a great kicker: “Most of the artwork [being carted out of the building] was heavily wrapped in plastic, but one large canvas was visible. It displayed a map of the world, turned upside down.”
(See also this piece by Christine Simmons in today’s New York Law Journal.)
There has been an avalanche of Dewey coverage over the past few days, so we realize that the foregoing discussion isn’t exhaustive. Feel free to post links to other interesting Dewey articles in the comments.
If you have information about the firm that you’d like to share, please email us or text us (646-820-8477; texts only, not a voice line). Thanks.
The Dewey chronicles: The rise and fall of a legal titan [Thomson Reuters News & Insight]
Behind the Scenes as Dewey Tries to Save What Remains [Wall Street Journal (sub. req. ) via WSJ Law Blog]
Dewey’s Bienenstock Discusses Law Firm’s Demise [DealBook / New York Times]
Assigning Blame in Dewey’s Collapse [DealBook / New York Times]
Bruce Bennett to Leave Dewey for Jones Day [WSJ Law Blog]
Corporate Finance Heavy, Fitzgerald, Leaves Dewey for Paul Hastings [WSJ Law Blog]
As Dewey Collapses, Partners and Retirees Face Big Financial Losses [New York Times]
Dewey Pay Guarantees May Be Worth a Dime on the Dollar [Bloomberg Businessweek]
Dewey Enters Final Days as Terminated Employees Leave [American Lawyer (reg. req.)]
Ex-Dewey Staffers Feel ‘Thrown Under Bus’ [New York Law Journal (reg. req.)]
Earlier: Dewey & LeBoeuf: A Visual Essay (Or: Dewey know what Steve DiCarmine looks like?)
Dewey Violate Rule 10b-5? A Detailed Look at the Firm’s 2010 Offering Memorandum
Dewey Have Anyone Left To Turn Out the Lights? (Plus an actual lawsuit, a possible lawsuit, and a partner’s theory of blame.)