Cadwalader

Lawyerly Lairs: A Cadwalader Castle in the Sky

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1112 Park Avenue

Partners at high-powered Cadwalader, Wickersham & Taft, where profits per partner in 2010 clocked in at almost $2.4 million, appreciate the finer things in life. These include $6 million houses in the Hamptons and the company of former Playboy models (who used to date movie stars like Matt Dillon).

Now, fabulous though they may be, beach houses in the Hamptons and Playboy model girlfriends sound… a bit flashy, a trifle arriviste. Some might view them as not very white-shoe, and not what you’d expect from partners of the oldest continuing Wall Street law practice in the United States. (Sure, some old-money people have places in the Hamptons, but these days the locale appeals more to celebrities.)

Thankfully there are some CWT partners who are kicking it old school. They live in exclusive prewar coops on Manhattan’s Upper East Side. No lofts in Tribeca or Soho — or, God forbid, Brooklyn — for these genteel types.

Let’s look at the Lawyerly Lair that a senior Cadwalader lawyer recently acquired — on Park Avenue, one of the world’s legendary thoroughfares — for just a shade under $6 million….

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November Lawyer of the Month: Cheaters Never Win (Until Now)

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In our November edition of the Lawyer of the Month competition, we brought you three male candidates who just didn’t give a damn. We offered our readers an anti-military law professor, but he wasn’t able to rock the vote. Next up, we had a family law judge who beat his daughter on camera, but even this villainous act wasn’t enough to take the win.

At the end of the day, the man who didn’t want the title won it in a landslide victory, with 65 percent of the vote….

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Associate Bonus Watch: Cadwalader Matches S&C Bonus Scale

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It’s beginning to look a lot like last year’s Christmas at Cadwalader, Wickersham & Taft. CWT announced yesterday that it would be matching the Sullivan & Cromwell bonus scale. It starts at $7,500 for the class of 2010 and tops out at $42,500 for the class of 2003 and more senior. All bonuses will be paid in early February 2012.

But what about spring bonuses? And is Cadwalader planning to show any love for the class of 2011?

Let’s take a look at the memo and find out….

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Lawyer of the Month: November Reader Poll

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November is typically a month where people give thanks for all of the good things in their lives. The vast majority of the scandalous lawyers featured in these pages seem to have forgotten about that small fact. They just don’t give a damn.

Family ties? Meh. The troops? Screw ‘em. Honorific ATL titles? Totally lame.

Who are these thankless men? Let’s check out the candidate pool for November’s Lawyer of the Month competition….

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A Prominent Partner Gets Out the Vote and Avoids ‘Lawyer of the Month’ Honors

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The $215,000 engagement ring.

Voter turnout in our October Lawyer of the Month poll was not high: only 453 votes were cast. In the end, DLA Piper partner Laura Flippin, who allegedly blew a .253 on a breathalyzer test, narrowly edged out Cadwalader partner Ira Schacter, who reportedly bought a $215,000 engagement ring for his Playboy-bunny ex-fiancée — while refusing to pay for his teenage daughter’s $12,000 hearing aids.

A mere 11 votes separated the winner and the runner-up. Given the closeness of the vote, maybe Laura Flippin should have focused more on voter turnout, to boost the tallies of her rivals.

It seems that Ira Schacter did just that. Check this out….

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Lawyer of the Month: October Reader Poll

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It seems like lawyers got a little wild last month, especially the ladies. In fact, our candidate pool for October’s Lawyer of the Month contest was mostly dominated by women. Score one for women’s equality in the legal profession, even if we’re out there embarrassing ourselves.

Only one of our candidates is a man, but given his choice in women, he’d probably love to be surrounded by all of these hot messes.

Last month, we offered you the sex, violence, and stupidity edition of the competition. We suppose you can call this one Lawyer of the Month: Drunk, Slutty, and Naked. Let’s check out our nominees for the month of October….

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Morning Docket: 10.28.11

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Alas, Vince Young couldn't make this happen.

* Ira Schacter’s lawyer on his client’s propensity to give out rings worth more than $200K: “He’s just a generous guy.” No, he’s just a Biglaw partner. [The Careerist]

* From Russia Israel with Love: Emory Law student Ilan Grapel has been released from Egypt and will be arriving back in the U.S. today. Welcome home! [New York Times]

* A guy was convicted of selling black market kidneys? I thought that only happened in urban legends, but apparently it happens in good old Jersey. [Bloomberg]

* Next time you want to hold porn auditions at your house, make sure you have the girls sign all of the necessary release forms before you drug and assault them. [Miami Herald]

* How dare you prevent Vince Young from making it rain and then sue him over it! When a man asks you to give him $8,000 in one dollar bills at a strip club, you do it. [New York Post]

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Career Center Survey Results: Top Partners to Work For – New York (Part 3)

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Today we conclude our coverage of the top New York partners to work for, as selected by our readers (see earlier coverage here and here).

These seven partners are proof that you can be a good partner who is good to associates while working at premier Biglaw firms like Chadbourne & Parke, Cadwalader, White & Case, DLA Piper, Baker Hostetler, Weil Gotshal, and Cravath.

Let’s find out how they do it….

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A Cadwalader Partner, His Deaf Daughter, and His Playboy Bunny Ex-Fiancée

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Biglaw bucks can bring the bling.

Some people just can’t stay out of our pages. Back in 2008, we wrote about Ira J. Schacter, a prominent corporate partner and major rainmaker at Cadwalader. Schacter earned Lawyer of the Day honors after he was accused of beating his wife. (He claimed he acted in self-defense and was ultimately cleared of the charges.)

Well, today Ira Schacter is back in the news. He’s accused of refusing to pay for his teen daughter’s $12,000 hearing aids, while dropping $215,000 on a diamond engagement ring for his Playboy-bunny fiancée. If true, that’s pretty shoddy behavior — the very embodiment of cheapness, from a big-time Biglaw partner who can easily afford twelve grand.

But I know what you’re all wondering right now: “How hot is that Playboy-model fiancée?”

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What’s Going on at McDermott Will & Emery?

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Last week, the American Lawyer shined a spotlight on extensive partner departures from McDermott Will & Emery. According to Brian Baxter of Am Law Daily, a whopping 38 partners have left MWE in 2011 so far.

Some of these defections have come in clumps. Most notably, as we mentioned back in January, nine partners left McDermott for Cadwalader, Wickersham & Taft, as part of CWT’s raid on MWE’s energy law practice.

But that explains just a quarter of the year-to-date partner departures from McDermott. Let’s look at some of the others, explore possible implications for the firm, and discuss what might be motivating the movement toward the exits….

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