Here’s a fun one. Lawyer owes $72.5 million. Lawyer claims he has $50,000. Lawyer conveniently forgets the $8.9 million in assets he has, and the nearly $1 million he has stuffed in his closet.
That’s the story of Harry Pavilack, a lawyer who is well known in South Carolina thanks to his television ads. The ABA Journal reports that Pavilack produced $994,000 from the closet of his Myrtle Beach office when a bankruptcy investigator impressed upon him the importance of full disclosure.
Why does he have that much cash sitting around? I was hoping it was because Pavilack is old (he’s 70) and doesn’t trust these gosh-darned electronic transactions. But sadly it appears far more likely that Pavilack was just trying to frustrate his creditors…
I already mentioned this in Morning Docket, but the issue deserves a full post. A little girl of 4-years-old barreled her bike into an old lady on a Manhattan sidewalk.
The 87-year-old woman broke her hip, and subsequently died.
Despite being just four-years-old at the time of the accident, State Supreme Court judge Paul Wooten ruled that a negligence suit could go forward against the child. Apparently, children under four are presumed to be incapable of negligence, but if you are over four you are capable of being an idiot.
So we’ve got a 4-year-old, an 87-year-old, a bike with training wheels, and the sidewalks of New York. Where do your sympathies lie?
What’s the judge wearing underneath his robe? In the case of Judge Wesley E. Brown of the District of Kansas, the oldest living federal judge, the smart money is on these.
Judge Brown, the subject of a front-page profile in the New York Times (the news cycle is a little slow right now), is a whopping 103 years old. He was born on June 22, 1907. The president at the time was Roosevelt — Teddy, not Franklin. Judge Brown was appointed to the district court by President John F. Kennedy, and he’s one of just four JFK appointments still on the bench.
Despite his (extremely) advanced age, Judge Brown still regularly takes the bench to hear cases. And, impressively, he does so with his eyes open….
'And then I told him I'd file a motion to compel his a**....'
It’s important to think about — and not just think about, but save for — your retirement. This is especially true now that Social Security is looking less than alluring. (When I see that money taken out of my paycheck, I just kiss it goodbye, forever.)
When it comes to providing for associates and other employees, most large law firms take a fairly straightforward approach: they offer 401(k) accounts, but no matching employer contributions. One of the few Biglaw firms that provided a match, K&L Gates, stopped that policy back in 2007.
With respect to retirement provisions for partners, there’s more variation from firm to firm. Some shops provide for retired partners in very generous fashion. For example, retired partners at Wachtell Lipton can receive annual seven-figure payouts for many years after leaving the firm (although sources at my former firm tell me some of this money represents a return of capital to the retired partners, and as such will vary from partner to partner).
A million-dollar retirement benefit is no doubt very pleasing. But at other firms, aging partners are less content with their arrangements….
I have to, it’s my job. I mean what would I do? I don’t know what I would do.
– Seventh Circuit Judge Richard Posner, when asked at trial how he could carry on after feeling threatened by radio host Hal Turner’s comment that Judge Posner and two of his colleagues “deserve to be killed.”
So perhaps it shouldn’t be surprising that a former Wachtell partner has gotten the best of his ex-wife in contentious divorce proceedings. Leigh Jones of the National Law Journal reports:
It may have been the result of some crafty legal maneuvering by a Wachtell, Lipton, Rosen & Katz partner, or it may have simply been part of his tempestuous marriage to a “European Playmate” nearly 30 years his junior. Whatever the reason, the now-retired partner has thwarted a second bid by his ex-wife to invalidate a prenuptial agreement and collect a share of the annual retirement payments that he receives from the firm.
The Appellate Court of Connecticut, in a decision released on Thursday, affirmed a divorce judgment between retired Wachtell partner Peter McKenna, now 72, and Roberta Delente, a one-time model from Brazil who was working for an agency called “European Playmates” when the couple met in 1997. She was 32 at the time.
The divorce judgment left Delente, from whom McKenna sought a divorce less than a year after their wedding in August 1999, with virtually nothing from the marriage.
Let’s cut to the question that everyone is curious about: How big is McKenna’s (retirement) package?
UPDATE: And how hot is Roberta Delente? We’ve added a photo — as well as a link to the appellate court’s opinion, but that’s less exciting — after the jump.
The courtroom lends itself to dramatization. A trial has a natural story arc: The adversarial system makes for a clear conflict between characters. There’s a natural end point when both sides rest their cases and the verdict comes down. Plus, lawyers are such loveable characters.
The ABA Journal has made a list of the 25 greatest fictional lawyers of all time:
In our survey of this literature of lawyers, however, we feel obliged to recognize a great divide—ante-Atticus and post-Atticus.
From Dick the Butcher’s famous pronouncement to Jack Cade in Shakespeare’s Henry VI, Part 2 — “First thing we do, let’s kill all the lawyers.” — through Dickens’ Mr. Tulkinghorn and Galsworthy’s Soames Forsyte, literature (with a few exceptions) treated lawyers poorly.
That all changed with Harper Lee’s unflappable, unforgettable Atticus Finch. With Atticus, the lawyer — once the criminal mouthpiece, the country club charlatan, the ambulance-chasing buffoon — was now an instrument of truth, an advocate of justice, the epitome of reason.
Since Finch is a literary lawyer on steroids, they have cut him from the competition. The list is the 25 greatest who are not Atticus Finch. Did your favorite make the list?
As the Baby Boomers continue to age, we’ve been documenting their reluctance to gracefully leave the Biglaw stage. One would think that all these lingering old people would at least be a good mentoring resource for the younger generation. Kash suggested as much when we debated the topic earlier this year.
But an article up on American Lawyer this morning suggests that aging Americans don’t view “mentoring” the young as part of their job description. A former Kirkland & Ellis partner, Steven Harper, writes about the mentoring gap in Biglaw. His starting point is an interesting article from former Reagan speechwriter, Peggy Noonan:
Commemorating the 50th anniversary of Harper Lee’s “To Kill A Mockingbird,” Peggy Noonan, writing recently in The Wall Street Journal, hit on an important truth that law firm leaders should heed. In lamenting what she called the national need for “adult supervision,” Noonan wrote, “there’s kind of an emerging mentoring gap going on in America right now … a generalized absence of the wise old politician/lawyer/leader/editor who helps the young along, who teaches them the ropes and ways and traditions of a craft.”
Dear Baby Boomers, please look to your own house before you criticize Gen Y for its Twitter-aided navel gazing…
The modern workplace plays host to three generations: the baby boomers, Generation X, and Generation Y. A panel at the InsideCounsel SuperConference this week called the youngest of the bunch, Gen-Why?. The italics are likely meant to indicate a whiny tone, because this bunch, born from 1981 to 2001, are supposedly entitled and snotty. E.g., “You’re going to defer me for a year with a $60,000 stipend? Wah! I hate you!”
I attended the panel as did another legal blogger, Adrian Dayton. Check out his post on what’s wrong with Gen-Y. Despite their complaints about the young’uns, oldies tend to give in to their wishes, judging from the response one general counsel gave to a Gen-Yer who asked to head off to New Zealand for a year and have his job held until he got back.
A not-especially-snotty-or-entitled Gen-Yer was chosen for the panel: Jack Rossi, staff counsel at JetBlue, who scored an in-house offer directly out of law school. He admitted that some of the myths about his generation are true: he does like feedback and wants mentorship (and he’s gotten it in-house). An older baby boomer lawyer in the audience spoke up to say, “I wanted the same things as Jack, but I was not brave enough to ask for it… It was kind of ‘figure out for yourself.’ I think the fact that younger lawyers ask is actually a good thing.”
Honestly, there wasn’t a lot of tension in the room between Gen Y and Boomers, even when J.D. turned PhD panelist, Arin Reeves of The Athens Group, suggested Boomers were at fault for spoiling young folks given the wining-and-dining summer associate experience they created. “If you want to teach that work is the priority, take the events away,” said Reeves.
I think all of our Biglaw readers will agree with us in deeming that terrible advice.
In the room, greater tension seemed to exist between Gen X and Gen Y. “It sounds like we’re saying, ‘How are we going to accommodate an already spoiled generation?’” observed one Gen Xer.
Since I am Gen Y, and Elie is Gen X, we thought this would be an opportune time for a little ATL debate. I’ll let the old man go first…
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at email@example.com in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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