Dechert

Moscow and the Middle East: Dewey Have A Problem?
(Plus more about Dewey’s loan covenants.)

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About two weeks ago, we covered reports about Dewey & LeBoeuf possibly shedding some of its overseas offices. We noted at the time, however, that the reports were vague, and we added that some D&L sources denied the existence of plans for closing any specific foreign office.

Well, the reports are getting increasingly detailed. Word on the street is that D&L might shutter three of its offices in the Middle East. And the firm’s Moscow office is reportedly being courted by other major U.S. law firms.

Which offices are being considered for closure? And who are Dewey’s suitors in Moscow?

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(Plus more about Dewey’s loan covenants.)”

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Morning Docket: 01.24.12

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* First the Jones verdict, then the Fourth Circuit affirmed the dismissal of Jose Padilla’s torture lawsuit. It’s enough to make ACLUers develop bipolar disorder. [Washington Post]

* Release the Kagan! The Supreme Court rejected Freedom Watch’s motion for time to argue that Justice Elena Kagan should recuse herself from the Obamacare case. [CNN]

* Biglaw problems: here’s a great round-up of 2012′s law firm lawsuits, starring Akin Gump, Crowell & Moring, Dechert, and Greenberg Traurig, to name a few. [Am Law Daily]

* After dropping a lawsuit challenging their forcible eviction from Zuccotti Park, supporters of Occupy Wall Street will go back to occupying the couches in their parents’ basements. [Bloomberg]

* Not interested in being a lawyer? Check out these suggestions for “unique” career paths (i.e., ones that you could have pursued after college, with half the debt load). [U.S. News]

* Not such a great alternative fee arrangement. A prosecutor turned solo practitioner is going to jail after accepting oxycodone pills as payment from a police informant. [Tampa Bay Times]

Associate Bonus Watch: Dechert’s Bonus Is Contingent On Something That Sure Sounds Like Billable Hours

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We’re still catching up on bonus news that broke over the holidays. Remember, if we missed your firm, please let us know at tips@abovethelaw.com.

Just after Christmas, Dechert announced its 2011 end-of-year bonuses. I guess you’d call it a “match” of the Cleary Gottlieb scale. Dechert is paying a pro-rated bonus to first-year associates and has a top payment of $42,500 for very senior associates.

But Dechert isn’t a lockstep firm. You have to meet a requirement in order to get the bonus. That requirement looks very much like an hours requirement, but Dechert doesn’t want you (or its clients) to think that they have an hours requirement — so they have some kind of nebulous performance requirement that can most easily be defined with reference to hours.

Oh, and they’ll dock you if you didn’t input your time, on time, throughout the year….

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Morning Docket: 11.30.11

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* Facebook settled with the FTC over its privacy violations. Mark Zuckerberg will be adding a “dislike” button to the site so he has an appropriate way to deal with this. [National Law Journal]

* The lawsuit seeking to overturn gay marriage in New York will proceed. Eric Schneiderman just got disinvited from more holiday parties than he can even count. [New York Times]

* On appeal, Dechert will get to walk away from the Dreier drama without losing a single dime, but not if Marc Kasowitz has anything to do with it. [New York Law Journal]

* Herman Cain’s defamation lawyer, Lin Wood, is apparently living on a very nice planet where “guilt by accusation” isn’t already the norm in the realm of politics. [Washington Post]

* What’s with all of the child predator attorneys flocking to New Jersey? Solo practitioner Tobin Nilsen got 12 years for trying to have sex with a 7-year-old girl. [Atlanta Journal-Constitution]

Associate Bonus Watch: Dechert Announces Spring Bonuses

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There’s lots of good news these days over at Dechert. For example, as we mentioned last week, the firm is launching a new Los Angeles office, built around a group of lateral partners lured over from Orrick.

This morning brings good news for Dechert associates and counsel as well. The firm just announced Cravath-level spring bonuses, to be paid to qualifying associates. We discuss the qualifications and reprint the full memo below.

Although Dechert is now a major international firm, it’s still associated in many people’s minds with Philadelphia, where it got its start. Does Dechert’s spring bonus announcement place pressure on firms that are headquarted in Philly or have significant presences in the City of Brotherly Love?

By the way, it appears that we never reported on Dechert’s 2010 year-end bonuses, which were announced in early February 2011. We discuss them as well, after the jump.

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Tropical Depression: The Latest in ‘Clerkship Lit’

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Move over, chick lit. Make way for “clerk lit”!

Over the past few years, we’ve seen a number of novels focused on the clerkship, a professional rite of passage for many a prestige-obsessed young lawyer. In these books, plucky law-clerk protagonists have tried to do justice while also holding on to their jobs (and their sanity, and even their lives).

One of the first was The Tenth Justice (1998), a thriller by Brad Meltzer that went on to become a bestseller. More recent examples of “clerk lit” include The Law Clerk (2007), by Scott Douglas Gerber, and Chambermaid (2007), by Saira Rao. (Rao’s buzz-generating book, which generated controversy because it was seen as based heavily on her clerkship for the notoriously difficult Judge Dolores Sloviter (3d Cir.), was discussed extensively in Above the Law’s pages.)

Today we bring you news of a new novel featuring a law clerk protagonist: Tropical Depression, by Arin Greenwood. It tells the story of Nina Barker, a neurotic young lawyer toiling away at a large New York law firm, who decides — after losing her job and her boyfriend — to leave it all behind, by accepting a clerkship with the chief justice of a faraway tropical island.

Let’s learn more about Tropical Depression and its author, Arin Greenwood — who, like her protagonist, graduated from a top law school and worked at a leading law firm, before accepting a clerkship on a remote Pacific island….

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Non-Sequiturs: 12.21.10

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Hal Turner: This blogger must go to prison.

* Professor Paul Caron has taken the data gathered by Princeton Review and come up with new law school rankings. Which school comes out on top? (Stanford is #2.) [TaxProf Blog]

* Are business students better than law students at making clever musical parody videos? Check out “Those CBS Girls” (Columbia Business School girls), set to the tune of Katy Perry’s “California Gurls” (sic). [Dealbreaker]

* Hal Turner, the New Jersey right-wing blogger / shock jock who blogged “these judges must die,” has been sentenced. How much time did he get? [Huffington Post]

* Congratulations to the fabulous Judge Leslie Kobayashi, who was recently confirmed to the U.S. District Court for the District of Hawaii (along with other Obama judicial nominees confirmed to various courts around the country). [angry asian man; Associated Press]

* When non-whites play golf, bad things happen. [ESPN]

* The juicy lawsuit filed by Ariel Ayanna against Dechert got lost in the bonus news shuffle around here. But here are some thoughts from Jane Genova. [Law and More]

Inside Straight: Business Development (Part 3)

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Ed. note: This is the latest installment of Inside Straight, Above the Law’s new column for in-house counsel, written by Mark Herrmann.

Is blogging a useful business development tool?

The folks who sell blogging platforms to lawyers say that blogging is the route to riches. But bloggers themselves are far less certain whether blogging actually generates business. What’s the truth?

Let me start with my personal experience; I’ll conclude with a thesis. The personal experience is just the facts — what I did as a blogger, how successful the blog was, and how, if at all, I profited from the experience. (I’ve previously recited parts of this story in both the print media and elsewhere. I’ll try to add a few new thoughts here.)

What did I do as a blogger? For three years — from October 2006 through December 2009 — while I was a partner at Jones Day, I co-hosted the Drug and Device Law Blog with Jim Beck, of Dechert. We wrote almost exclusively about the defense of pharmaceutical and medical device product liability cases. We affirmatively chose to have the blog co-hosted by partners at two different firms, for two reasons….

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Quote of the Day: Happy Thanksgiving, Counselors

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I realize some readers may be unemployed and other lawyers are not happy in their jobs. You still have plenty of reasons to give thanks for what you do have.

Not everyone has the opportunities to go to college and law school, and not everyone possesses the abilities to read, to argue, to counsel and to negotiate. While not all of us are millionaires, most of us are comfortable, and we should not take our comforts, or our health and welfare, for granted.

– Molly Peckman, director of associate development at Dechert, in an article for The Legal Intelligencer (gavel bang: ABA Journal).

The Estate of Ms. Smith Goes to Washington (Again)

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Anna Nicole Smith: her candle burned out long before her legend ever did. And the great beauty’s legend continues to grow, over three years after her untimely death in February 2007, as litigation involving her estate contributes to the development of a rich body of law regarding bankruptcy and probate law — in a tribunal no less distinguished than the Supreme Court of the United States.

Over at USA Today, Joan Biskupic has this report:

The Supreme Court agreed Tuesday to hear an appeal from the estate of Anna Nicole Smith, the late Playboy model and TV reality-show star, in the decades-old dispute over an inheritance from her tycoon husband.

The action, involving a sensational set of characters in an otherwise dry case at the intersection of probate and bankruptcy law, came on a day of varied court business that included acceptance of 14 new cases for the 2010-2011 term that officially begins Monday.

Sounds scintillating. Let’s get all up in Anna Nicole’s business, shall we?

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Fall Recruiting Open Threads: Vault 41 – 60 (2011)

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We’re doing our annual march through the Vault prestige rankings, to give ATL readers the opportunity to have their say about perks and pitfalls at these firms. If your firm actually let you swap your Blackberry for your iPhone, brag here. Or if your firm has such a strong stench that it makes you nauseous, vent here.

We’ve been doing open threads in batches of ten, but now we’re going to pick up the pace. Here are the Vault #41 – 60. This is when the prestige list gets a little more geographically diverse, with firms based in Houston, Atlanta, Philadelphia, Palo Alto and even Pittsburgh:

41. Winston & Strawn
42. Baker Botts
43. Jenner & Block
44. Cadwalader, Wickersham & Taft
45. Wilson Sonsini Goodrich & Rosati
46. Proskauer Rose
47 (tie). Dewey & LeBoeuf
47 (tie). King & Spalding
48. Goodwin Procter
49. Baker & McKenzie
50. Fulbright & Jaworski
51. Vinson & Elkins
52. McDermott Will & Emery
53. DLA Piper
54. Morgan Lewis & Bockius
55. Pillsbury Winthrop Shaw Pittman
56. Bingham McCutchen LLP
57. Dechert LLP
58. Cooley LLP
59. K&L Gates LLP
60. Alston & Bird LLP

We took a spin through their Vault rankings and awarded superlatives, after the jump.

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Legal Eagle Wedding Watch: Best of Spring

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champagne glasses small.jpgYes, we’ve been gone. Where we’ve been — poetry workshop, rehab, hiking the Appalachian Trail? — doesn’t matter. What matters is that we’re back, and our team of interns has diligently kept track of the nuptial triumphs and travesties that have occurred in our absence. We’ve identified the very best of the best couples from this spring, and hereby present the top five pairings for your edification and enrichment:

1. Monica Youn and Whitney Armstrong
2. Jennifer Ku and Peter Rubin
3. Vikeena Bonett and Matthew Wolfe
4. Brian Distelberg and Ryan McAuliffe
5. Naomi Seiler and Eric Columbus

Feast your eyes on these prestigious couples’ pictures and bios, after the jump.

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