Dewey & LeBoeuf

What must it be like right now to be working at Dewey & LeBoeuf? One imagines a lot of whispered conversations, furrowed brows, and closed office doors. It’s a difficult and stressful time at D&L. To our friends at Dewey, keep your chins up (but, at the same time, do what you need to do to protect yourself and your career).

The anxiety at Dewey is increased by the firm’s cash crunch. Lawyers and staff at the firm are having a harder time doing their jobs because certain resources aren’t available to them.

Even in the digital age, with so many documents transmitted electronically rather than physically, FedEx is still a mainstay at major law firms — but not at Dewey. “We are restricted from using the account and now have to rely on UPS or express mail for overnights,” a source at Dewey told us. “Even if a package is labeled to go out via FedEx, when it goes down to mailroom it is relabeled for one of our new shipping methods. Do you know any other company that can stay afloat without FedEx?”

Will Dewey be staying afloat? Let’s hear the latest about other services that D&L lawyers and staff can’t use, some possible partner departures, and the firm’s ambitious plan for saving itself — via bankruptcy….

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(Plus more potential defections, and bankruptcy planning.)”

It’s time for your daily dose of Dewey & LeBoeuf news. There’s a lot to cover, including updates about incoming associates, overseas offices, and contingency planning.

Word on the street is that Dewey is deferring incoming associates to January 2013. We reached out to the firm for comment, and they haven’t gotten back to us yet. But it seems logical for the firm to defer associates to early 2013, given how the situation at D&L remains in flux. By next year, Dewey will have a better sense of its ultimate size and its long-term associate needs.

Of course, incoming associates at Dewey might want to make some backup plans. Which brings us to the other D&L news….

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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.)”

Last week, we discussed the effort by Dewey & LeBoeuf to hold on to departing partners by enforcing its 60-day notice requirement. Partners that leave without complying with the requirement can miss out on profit distributions.

Alas, the response of many partners seems to be, “So what?” Yesterday brought word of about eight partners leaving Dewey. And since our story this morning about Dewey’s tax-time troubles, even more defections have been announced.

So who are the latest lawyers to leave, and where are they going?

double red triangle arrows Continue reading “Dewey Have A Way To Stop The Partner Hemorrhaging? Energy Lawyers Exit”

Today, as you probably know, is the deadline for filing your taxes. As was the case last year, the combination of April 15 falling on a weekend and the little-known holiday of Emancipation Day pushed the filing deadline back a bit.

Did you appreciate the extra time to fill out your tax return? Partners at Dewey & LeBoeuf probably did, due to some problems with their K-1 forms.

And speaking of partners at Dewey, their numbers continue to decline. Let’s look at the latest defections, as well as the tax issue.

UPDATE (10:30 AM): The game of musical chairs continues. Six more Dewey departures, which we learned about shortly after publishing this post, after the jump.

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It’s getting hard to keep track of all the partner departures from Dewey & LeBoeuf. Thankfully, over at Am Law Daily, Sara Randazzo and Nate Raymond have this handy round-up. The bottom line is that the firm has 53 fewer partners than it did in January: one retired, one left for personal reasons, one went in-house, and fifty (50!) jumped over to rival law firms. You can review the biggest beneficiaries of Dewey defections over here.

So what Dewey do about the problem of fleeing partners? We get medieval on the cowards….

double red triangle arrows Continue reading “Dewey Have Trouble Holding On To Partners? There’s an App for That”

John Altorelli

Who is to blame for the recent troubles afflicting Dewey & LeBoeuf, the global mega-firm created from the 2007 merger of Dewey Ballantine and LeBoeuf Lamb? In our recent reader poll, we offered four options: the legacy Dewey side, the legacy LeBoeuf side, both sides, or neither side.

Prominent M&A and private equity lawyer John Altorelli, who recently left Dewey to become a partner at DLA Piper, has some opinions on this issue. In a recent interview with Am Law Daily, he offered a candid diagnosis of what brought D&L to where it stands today, as well as an assessment of its future prospects.

Altorelli was less forthcoming when the New York Post contacted him over the weekend about his alleged love affair with a beautiful Russian spy (her picture after the jump)….

double red triangle arrows Continue reading “Former Dewey & LeBoeuf Partner Kisses and Tells
(About D&L, Not His Alleged Affair With a Russian Spy)”

* The billable hour may be far from dead, but last year, 61% of general counsel worked out alternative fee arrangements with outside counsel, including counsel from elite (read: Biglaw) firms. [Wall Street Journal]

* Dewey need to take lessons on revenge from this firm? John Altorelli, the D&L defector who spilled all the beans to the Am Law Daily, was blasted on Page Six this weekend. More on this to come later today. [New York Post]

* CHECK YOU LATERALS: recent Quinn Emanuel hires William Burck, Paul Brinkman, and Andrew Schapiro, as well as name partner John Quinn, have entered appearances on behalf of Megaupload. [Am Law Daily]

* Copyright infringement suits over porn downloading involving some 3,500 defendants were dismissed because the plaintiffs’ attorney, Terik Hasmi, couldn’t get it in legally in Florida. [National Law Journal]

* In England, there’s no such thing as a no-fault divorce, but instead, you can get one for “unreasonable behavior” — behavior like malicious service of tuna casserole, and speaking only in Klingon. [New York Times]

* This gives “I’m a Slave 4 U” some new meaning. Britney Spears’s fiancé, Jason Trawick, is trying to start their impending rocky marriage off on the right foot. He’ll soon be her co-conservator. [New York Daily News]

They say that March comes in like a lion, and goes out like a lamb. And in the case of last month’s legal happenings, that saying held true for the most part. Because even stuttering lambs are still gentle creatures, right?

All in all, March was filled with excitement (of the sexual variety) and disappointment (of the layoff variety) for lawyers. We even got a lesson in how to (and how not to) argue before the Supreme Court.

So who are our nominees for March’s Lawyer of the Month competition?

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We’ve been chronicling the troubles of Dewey & LeBoeuf, a top firm facing tough times. Today brings more bad news for Dewey: eight additional partners have jumped off the ship.

Of course, this one firm used to be two. In 2007, Dewey Ballantine merged with LeBoeuf Lamb to create Dewey & LeBoeuf. At the time it was the rare merger of two top firms.

Now that the firm is struggling, legacy Dewey people and legacy LeBoeuf people have been blaming each other for the firm’s troubles. Who didn’t bring the prestige, who didn’t bring the rain, who is responsible for post-merger decisions that have led to turmoil?

Oh, recriminations. Fun times. We’ve been corresponding with some people who were at the respective firms before and after the merger, and listening to them blame the other side has been highly entertaining. Take a look, and vote for yourself about who is to blame…

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