Partners make the Biglaw world go ’round, and when a partner dies, especially in a manner as brutal as this, the Biglaw world weeps.
Today, we’ve got some sad news out of Minneapolis, where Nancy Sullivan, a Barnes & Thornburg partner who practiced ERISA and employee benefits law and served as the pro bono coordinator at her firm’s office, was shot and killed by her boyfriend as she tried to move out of the home they shared together. Also wounded were Sullivan’s daughter, Kathleen Fay, and Fay’s boyfriend, Tony Brown.
Suspected shooter Johnny Simpson also died, but police are not yet calling this a murder-suicide…
Take this famous line and replace “man” with “law firm partner,” and you’ve captured the gist of the lawsuit against Ropes & Gray brought by Patricia Martone, who alleges age and sex discrimination by her former firm. (Martone, a former IP litigation partner at Ropes, is now a Morrison & Foerster partner.)
When I broke the news of this lawsuit back in 2011, I expected a speedy settlement. Would Ropes really want to go toe to toe with a pair of high-powered litigatrices, namely, Martone and her formidable employment lawyer, Anne Vladeck?
But here we are, two years later, and the battle rages on. Ropes has hired a third leading litigatrix to defend itself. Let’s learn the latest news….
(Note the multiple UPDATES at the end of this post.)
In the words of Mark Zauderer, counsel to almost 60 former Dewey partners, “I’m not seeing overwhelming enthusiasm for the proposal.” A former D&L partner was even more blunt: “I think this is destined to fail. Let the trustee [of a Chapter 7 liquidation] go for it.”
But not everyone holds such negative views. One ex-partner — who claims that he’s being asked to pay more than he thought he owed, and that he’ll have to postpone his retirement by several years due to Dewey’s downfall — told Thomson Reuters that he will vote for the deal anyway. “My view is there’s nothing less desirable than having this drag out for years,” he said. “I’m willing to pay a lot of money to have this go away.”
Dewey have other issues besides how to deal with former partners? Most certainly. There are pressing problems regarding the disposition of client files, as well as issues regarding retirement benefits for former Dewey & LeBoeuf employees….
In our last full post on Dewey & LeBoeuf, the fast-fading New York law firm, we tried to find some moments of humor in this generally depressing story. Now we’ll return to the hard — and gloomy — Dewey news. (We mentioned several D&L items in today’s Morning Docket.)
Without further ado, let’s find out what’s going on….
We have previously discussed the subject of pensions at the deeply troubled law firm of Dewey & LeBoeuf. Right now it’s looking quite likely that the firm will wind up in dissolution or bankruptcy. If the firm does go down that path, what will happen to the retirement benefits of current and former employees?
Today we have some news on that front — plus UPDATES on other Dewey stories, of course….
On Friday, we broke the news of Dewey & LeBoeuf issuing a WARN Act notice to its U.S. employees. As explained by the U.S. Department of Labor, the WARN law generally requires an employer “to provide notice 60 days in advance of covered plant closings and covered mass layoffs.”
We noted, however, that employees shouldn’t be lulled into complacency by the 60-day requirement. As Elie wrote, “Dewey employees shouldn’t expect to just show up to work every day until Independence Day. Remember, we’ve learned from the Heller dissolution and other firms’ dissolutions that things tend to happen very quickly.”
Very quickly indeed. We are now hearing reports that this Friday, May 11, will be the last day for an unknown number of D&L employees….
As usual with the fast-moving Dewey story, we have multiple UPDATES, including some from Tuesday morning, after the jump.
Dewey & LeBoeuf's sign at 1301 Avenue of the Americas. (Photo by David Lat. Feel free to use.)
“Our catering service requires a credit card; client matter numbers no longer accepted. Seamless food ordering requires a credit card or a corporate card.”
“It’s not clear that we still have health insurance.”
“Dewey has cut off subscriptions, and expenses are no longer being reimbursed.”
“Everyone is pretty much packing up. Bankers boxes are on backorder in supplies.”
“Dewey is quietly removing the art from the walls. Perhaps it belongs to the creditors?”
These are some of the sad stories we’re hearing out of Dewey & LeBoeuf today. Let’s discuss the latest news and rumor coming out of the deeply troubled law firm….
Multiple UPDATES and new links, after the jump (at the very end of this post). The Dewey story is moving so quickly that we will do multiple updates to our existing posts instead of writing a new post every time there’s a little additional news to report. Otherwise half of the stories on our front page would be about Dewey, and there is other Biglaw news to report — e.g., the new profit-per-partner rankings from Am Law, salacious lawsuits against prominent D.C. law firms, etc.
Few things fill a junior associate with more dread than a partner beginning a sentence with the following words: “There must be a case that holds….” Much of the time, there is no such case (especially when the issue concerns some annoying e-discovery dispute that no judge would ever want to write about).
But if a partner says to you, “There must be a case addressing whether an insurance company is liable for accidental death benefits when the decedent accidentally kills himself while engaged in masturbation that involves intentional self-electrocution” — well, now there’s a case that’s on all fours. With an electric cattle prod.
Keep reading, to learn about an ERISA opinion that is very… stimulating….
On Tuesday, Ropes & Gray was sued in Manhattan federal court by a former partner, Patricia A. Martone. Martone’s lawsuit claims age discrimination, sex discrimination, retaliation, and interference with protected retirement benefits in violation of ERISA (the basis for federal jurisdiction in the S.D.N.Y.).
As you might expect from an ex-Ropes partner, Martone has some high-powered counsel: Anne Vladeck, one of New York’s top labor and employment lawyers, widely regarded as the queen of employment discrimination law. Vladeck famously (and successfully) represented Anucha Browne Sanders in her sexual harassment lawsuit against Isiah Thomas and the Knicks.
Patricia Martone is a veteran intellectual-property litigatrix, a specialist in patent litigation, with almost 40 years of practice under her belt. She made partner at Fish & Neave, the well-known patent law firm, in 1983, and then became a Ropes partner in 2005, when Ropes absorbed Fish. She’s now a partner at Morrison & Foerster, which she joined in October 2010.
Why did she leave Ropes? Let’s have a look at Patricia Martone, and her lawsuit….
I’ve always been awestruck by tax lawyers. They are the dudes.
As a transactional attorney, you can’t make a move without a tax guy. M&A is based on IRS consequences. It’s the tax guy who hands you a chart with boxes and arrows, holding companies and off-shore limited partnerships buying and selling and re-selling and issuing and repurchasing and spinning off. Everything starts there.
Tax lawyers do stuff no one else would attempt. They swagger out the door at 5 pm.
“Don’t start with me. I’m in tax.”
Way back when, I took an advanced tax course in law school – to see if I could roll with the gangstas. I even took it the wrong semester, so instead of JD students, it was tax LLMs snickering at my desperation. I received my lowest grade ever. I also discovered tax law is like higher mathematics: there is no big picture. Tax is not intuitive or guided by overarching principle; it’s a mess of staggering, intimidating complication.
What I’ve come to realize lately, as a therapist working with tax lawyers, is that these seemingly unapproachable superstars are human. And being “the expert” can exact a toll….
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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