* Sammy Alito and the roots of a compassionate constitutional conservatism. By Emily Bazelon. Foreblurb by Juggalo Law. [New York Times]
* A U.S. vulture fund is having problems collecting a certain debt from the Democratic Republic of Congo via certain chinamen. Yes, I know that’s not the preferred nomenclature. But these men actually do build railroads. [Bloomberg]
* This business professor thinks law firms should start acting like real businesses. Somewhere, a theater professor thinks law firms should just start acting. [Washington Post]
* This fascinating story’s many intimations about State Senator Carl Kruger make it difficult to discern who is doinking who. Sorry, doinking whom. Whom is doinking whom. [New York Times]
* It is spring, which means the New York Mets are feisty. Silly Mets. [New York Post]
* The FDA is weighing whether to ban menthol cigarettes. Good thing Elie already quit. What’s that? You didn’t smoke menthols, Elie? Wow, this is awkward… [Chicago Tribune]
* The Barry Bonds trial is going to be a heavyweight fight. However, most of that weight will be located in Bonds’s head. [San Francisco Chronicle]
* Yes, we have seen the excellent GW Law Revue video based on the Cee Lo Green song (embedded above). No need to send it to us again. In fact, please do not send us links to any Law Revue videos until we announce the start of our third annual Law Revue Video Contest (perhaps next month, but stay tuned). [YouTube]
* The SEC’s general counsel, David Becker, gets involved in the Madoff litigation — as a defendant, in an action brought by trustee Irving Picard. [Am Law Daily]
* If I had a nickel for every federal judge who dismissed a challenge to Obamacare, I’d have fifteen cents. Come to think of it, phrasing it that way doesn’t illustrate a whole lot. Oh well. [New York Times]
* Tennessee seeks to outdumb every other state with a proposal that would make it a felony for any person to follow sharia law. Your move, Mississippi. [The Tennessean]
* Albany Law School of Union University is downsizing, but will likely still keep all three T’s. [National Law Journal]
* The Supreme Court ruled that a 1986 law precluded plaintiffs from suing vaccine-makers in state courts. In your face, Jenny McCarthy. [WSJ Law Blog]
* “Top SEC lawyer and his bros inherited $1.5M in Madoff profits.” [New York Post]
* If the Muslim Brotherhood gains power in Egypt, they will impose sharia law. Just like Oklahoma! [ABC Online]
* Lindsay Lohan took to Twitter to announce that she “was not raised to lie, cheat, or steal.” Well, nature it is. [msnbc.com]
* Arizona is suing the federal government over the porous border. Mr. Obama, build us a wall! [Reuters]
* Barry Bonds, he of the enormous dome piece, had the number of felony charges against him dropped to five. Hauling that gargantuan cranium about. I’m not kidding, that boy’s head is like Sputnik. [ESPN]
I’ve been avoiding writing about Irving Picard, the trustee in charge of getting money for the victims of the Bernie Madoff Ponzi scheme, and his lawsuit against New York Mets owners Fred Wilpon and Saul Katz. It’s too painful. It’s like being close enough to see Oliver Perez’s face just as you know things are going to completely unravel but still hoping against hope that he’ll throw a strike. It’s like wondering if David Wright spends his nights crying softly while Mike Piazza texts him weekly updates on how many days he has until he’s an unrestricted free agent. I know what’s happening; I just don’t like to talk about it.
But, as we mentioned in Morning Docket, Picard’s massive complaint was made public today. He says Wilpon and Katz made $300 million in fictitious profits from business dealings with Madoff.
As you read through the allegations, try to remember how poorly the Wilpons make decisions about whom to hire, whom to fire, and how much to play baseball players — and then tell me if you are at all surprised by anything here…
Being married to a Paul Weiss partner is nice; getting divorced from a Paul Weiss partner is even nicer. Thanks to the prestigious firm’s eye-popping profits, getting divorced from a PW partner should give you a seven-figure payday (assuming the Paul Weiss partner has been a partner for a while and is the “monied spouse” — a pretty safe assumption, unless you work at, say, Goldman Sachs).
But when you get that gigantic payment — like winning the lottery, but without all the taxes — can you feel confident in its finality? Or do you have to worry that your ex-spouse, a partner at a firm known for its aggressive and brilliant lawyering, will find a clever way to get some of that money back from you, years later?
Consider the tale of Steven Simkin, a Paul Weiss partner of almost three decades, and his ex-wife Laura Blank, who works in education. It involves a multimillion-dollar marital estate, residential properties in Manhattan and the tony suburb of Scarsdale, and an investment account with one Bernie Madoff.
And yes, for your voyeuristic pleasure, the tale comes with hard numbers, lots of numbers…
Rack up another win for trustee Irving Picard, the partner at Baker Hostetler who’s cleaning up the Bernard Madoff mess. On Friday, Picard and Preet Bharara, the headline-making U.S. attorney for the Southern District of New York, announced a $7.2 billion settlement with the estate of Jeffry Picower (no it’s not spelled “Jeffrey”).
Picower, a successful investor and prominent philanthropist, earned billions — both real, through investing with Goldman Sachs, and fictional, through investing with Madoff — before he died in October 2009. Picower was found dead in the swimming pool of his home in Palm Beach, apparently after suffering a heart attack (a plot device familiar to viewers of Brothers & Sisters and The OC). If he had held on until January 2010, Picower would have avoided the estate tax.
Of the $7.2 billion settlement, $5 billion will go to Picard, to settle the complaint he filed against Picower in bankruptcy court, and $2.2 billion will go to the Department of Justice — the largest civil forfeiture payment in U.S. history. All of this money will eventually find its way to qualifying Madoff victims.
Based on monies collected to date, what kind of recovery might Madoff’s victims be looking at?
* Time to find a new fetish to deposit in your spank banks, sickos, because animal crush videos have been banned (again). [CNN Politics]
* Despite Mark Madoff’s suicide, Irving Picard still has him on a short leash is pursuing litigation against the Madoffs. All clawback lawsuits against the family will continue to move ahead. [Wall Street Journal]
OmniVere’s delivery of end-to-end technology & data consulting to position the company as a true differentiator in the global legal technology and compliance space.
CHICAGO, IL, September 29, 2014 – OmniVere today announced the creation of the company’s technology & data consulting arm and the addition of several industry-renown experts, including the former co-chairs of Berkeley Research Group’s (BRG’s) Technology Services practice, Liam Ferguson, Rich Finkelman and Courtney Fletcher.
This new consulting practice will provide and expand existing OmniVere eDiscovery consulting services to corporations, law firms and government agencies with a special focus on compliance, information governance and eDiscovery. This addition of this top talent now positions OmniVere as a true industry leader in the technology and data consulting space offering best-in-class end-to-end services.
Ferguson, Finkelman & Fletcher are nationally recognized experts and seasoned veterans in the areas of overall technology, electronic discovery, and structured data. At OmniVere, the team will be focused on all global consulting activities with respect to legal compliance, complex data analytics, business intelligence design and analysis, and electronic discovery service offerings.
The Trust Women conference is an influential gathering that brings together global corporations, lawyers and pioneers in the field of women’s rights. Unlike many other events, Trust Women delegates take action and forge tangible commitments to empower women to know and defend their rights.
This year, the Trust Women conference will take place 18-19 November in London. From women’s economic empowerment to slavery in the supply chain and child labour, this year’s agenda is strong and powerful. Speakers include Professor Muhammad Yunus, Nobel Laureate and founder of the Grameen Bank; Phumzile Mlambo-Ngcuka, Executive Director of UN Women; Mary Ellen Iskenderian, President and CEO of Women’s World Banking and many other influential leaders. Find out more about Trust Women here.