concept of bankruptcy

Bankruptcy

Big Firm Files For Bankruptcy After $20 Million Goes Missing

Yet another once successful firm is seeking refuge in bankruptcy as it gasps its final breaths.

27 Comments / / at 11:45 AM
  • Bonuses, Dreier, Morning Docket, SCOTUS, Supreme Court

    Morning Docket 3.23.09

    * The vultures are circling around Dreier LLP’s Park Avenue office–an auctioneer’s website reads “everything must be sold,” but Dreier’s indictment last week says he must forfeit the firm’s assets–the prosecutors and bankruptcy trustee will have to fight it out. [The National Law Journal] * “U.K. regulatory lawyers advising clients on the financial crisis and […]

    48 Comments / / Mar 23, 2009 at 9:05 AM
  • Dissolution, WolfBlock

    Dissolution Watch: Wolf Block Could Vote Today

    * The vultures are circling around Dreier LLP’s Park Avenue office–an auctioneer’s website reads “everything must be sold,” but Dreier’s indictment last week says he must forfeit the firm’s assets–the prosecutors and bankruptcy trustee will have to fight it out. [The National Law Journal] * “U.K. regulatory lawyers advising clients on the financial crisis and […]

    79 Comments / / Mar 23, 2009 at 8:05 AM
  • Layoffs

    This Week In Layoffs: 03.21.09

    [Ed. note: Above the Law has teamed up with Law Shucks. Law Shucks has done excellent work translating all of the layoff news into user-friendly charts and graphs: the Layoff Tracker.] For the first time this year, we had three consecutive business days without any major firms announcing layoffs. As in Erich Maria Remarque’s novel, […]

    162 Comments / / Mar 21, 2009 at 3:06 PM
  • Lawsuit of the Day, Lawyer Advertising

    Is Somebody Preventing You From Being a Lawyer?

    Displaced 3Ls who haven’t been able to line up a job for the fall might want to give this woman a call: Are You A Lawyer? Probably Not. – watch more funny videos I wonder if she’s hiring junior associates? Have a nice weekend. Are you a Lawyer? Probably Not. [Funny or Die]

    68 Comments / / Mar 20, 2009 at 7:08 PM
  • Non-Sequiturs

    Non-Sequiturs: 03.20.09

    * I’ll be hosting Blawg Review next week. It’s a lot of pressure, especially since my wife found my external hard drive and deleted all of my Victorian pornography. But, I’m sure I’ll be able to come up with something generally inflammatory and inappropriate. Do you know how I got these scars? [Blawg Review] * […]

    22 Comments / / Mar 20, 2009 at 5:58 PM
  • Uncategorized

    Troutman Sanders Voluntary Departure Program

    Earlier today, we told you that Troutman Sanders was having a firm wide meeting. The meetings are over and we are happy to report that there are no layoffs from Troutman. At least not yet. Of course, things aren’t exactly great over at Troutman. The meetings did convey some “very important” information to associates and […]

    71 Comments / / Mar 20, 2009 at 5:01 PM
  • Southern Justice, Texas

    Steel Cage Discipline: It Makes Sense In Texas

    This is a very common story about school sanctioned gladiatorial combat among high school boys. The Guardian reports: Some schools have counsellors to settle disputes between students. But South Oak Cliff high school in Dallas preferred another, more direct method: bare-knuckle fighting inside a steel cage. According to a 2008 report obtained by the Dallas […]

    54 Comments / / Mar 20, 2009 at 3:42 PM
  • Cardozo Law School, Goldman Sachs, Harvard, New York Times, Weddings

    Legal Eagle Wedding Watch 3.15: The Brides of March

    It’s NCAA Tournament time, which means that if you get married this weekend or the next two, your guests will be cursing you as they surreptitiously refresh their BlackBerries. We therefore applaud this week’s brides, who planned their weddings for this past weekend, before the madness struck. They are — if we may say so […]

    / Mar 20, 2009 at 2:30 PM
  • Deferral Stipend, Layoffs, Staff Layoffs, Start Dates

    Mystery Meeting at Troutman Sanders

    Yes, we live in a world where any firm wide meeting has to be greeted with a sense of “oh, crap.” But that doesn’t mean we can’t still hold out hope that one of these meetings will end up being completely benign. We just received word that Troutman Sanders has scheduled an all staff meeting […]

    71 Comments / / Mar 20, 2009 at 1:11 PM
  • Non-Sequiturs

    Non-Sequiturs: 03.19.09

    * Not that anybody asked me, but I think Jeff Steiner should be a little less judgmental towards his laid off friends that are “partying” instead of “diligently volunteering and considering his next career steps.” It really doesn’t take all day to send out resumes and refresh your barren email account, and some people are […]

    14 Comments / / Mar 19, 2009 at 5:50 PM
  • UNC Law

    Snafu at UNC Law Raises Hopes, Then Dashes Them

    There was a snafu over in the admissions department at UNC Law School. A tipster reports the basic details: UNC Law sent out a number of e-mail invitations to their admitted student weekend today leading to the recipients of the e-mail believing they had been accepted. 15 minutes later they sent out this e-mail to […]

    105 Comments / / Mar 19, 2009 at 5:08 PM
  • Layoffs

    Nationwide Layoff Watch: Instant Reports From The Katten Meeting

    Earlier today, we reported that Katten was holding a firm wide meeting this afternoon. Predictably, the talks soon turned to layoffs. Here is what some of the people who were at the meeting are telling us: 20% pay cut if average billables were less than 150 last year and less than 145 for the last […]

    199 Comments / / Mar 19, 2009 at 4:08 PM
  • Start Dates

    Ropes & Gray: Defers Start Dates, Offers ‘New Alternatives’ For All Associates

    Ropes & Gray is locked in a fierce battle with Davis Polk in our ATL Bracket (remember, voting doesn’t close until Sunday). I’m not sure if this latest news helps or hurts their chances. Ropes isn’t laying anybody off, but it is deferring the start dates for its incoming first year associates. The firm informed […]

    115 Comments / / Mar 19, 2009 at 3:34 PM