There were many excellent submissions. Let’s review and vote on the eight finalists….
- Bankruptcy, Biglaw, Dewey & LeBoeuf, Dewey Ballantine, Dissolution, JPMorgan Chase, King & Spalding, Kramer Levin, Lateral Moves, LeBoeuf Lamb, Money, Partner Issues, Partner Profits
Dewey Partners Get Any Capital Back? Good Luck With That!
(Plus more partner moves, including Ralph Ferrara.)
As we reported over the weekend, it’s looking like Dewey & LeBoeuf will soon find itself in bankruptcy (perhaps voluntarily, perhaps not). The specter of bankruptcy raises a question for the many former partners of Dewey: dude, where’s my
car capital contribution?
Let’s find out — and get the latest dispatches on the Dewey death spiral, including news of a new home for former vice chair Ralph Ferrara….
- Bankruptcy, Biglaw, Contests, Dewey & LeBoeuf, Dissolution, Dorsey & Whitney, LeBoeuf Lamb, Pictures
If you’re looking for the latest news on the imploding law firm of Dewey & LeBoeuf, check out Morning Docket. There are links about the ongoing criminal probe, an updated WARN Act notice, the firm’s claim that it is not “officially closed,” and a possible involuntary bankruptcy.
It might make sense for certain creditors to push the firm into bankruptcy, since under the status quo — i.e., the firm effectively liquidating itself outside of court — it’s not clear that similarly situated creditors are being treated equally. At the very least, there’s a lack of transparency, as bankruptcy lawyer Annette Jarvis of Dorsey & Whitney pointed out to Thomson Reuters. Jarvis represents one group of creditors that might be getting the short end of the stick: 51 retired partners from predecessor firm LeBoeuf Lamb, whose pensions could be in jeopardy.
As we’ve done in the past, let’s try to find some light amid the darkness. As one victim of the Dewey debacle told us, “Sometimes after you’re done crying about something, the best medicine is laughter.”
We agree. So, Dewey have a meme contest for you? Of course we do!
Keep reading for some sample Dewey memes, as well as the contest rules….
- Arnold & Porter, Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, ERISA, Lateral Moves, Musical Chairs, Partner Issues
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….
- Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, Lateral Moves, Layoffs, Money, Musical Chairs, Severance, Staff Layoffs
Based on recent remarks by current and former leadership at Dewey & LeBoeuf, it seems that the firm is going to end with a whimper, not a bang. The current plan apparently involves no bankruptcy filing or dissolution vote, but just the defection of one partner after another, until nobody is left.
And the partner departures continue. As we mentioned in Morning Docket, for example, Greenberg Traurig just picked up about 50 Dewey lawyers over in Poland, to form Greenberg Traurig Grzesiak. Meanwhile, here in New York, Sutherland Asbill & Brennan has added insurance litigatrix Ellen Dunn, former co-head of D&L’s U.S. litigation practice, to its ranks.
While the partner stars realign themselves, back here on earth, last night brought bad news for former Dewey associates and staff….
- Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, Gay, Lateral Moves, LeBoeuf Lamb, Musical Chairs, Partner Issues, Partner Profits, Willkie Farr
Since our Friday photo essay on Dewey & LeBoeuf, the once-proud law firm that probably isn’t long for this world, numerous other outlets have produced some excellent Dewey coverage. We mentioned two of the pieces, about partner problems and unpaid janitors’ bills, in today’s Morning Docket.
It’s interesting to see how the pace of the Dewey story is shifting. We’re moving from the breathless breaking of news into a period of longer pieces focused on analysis and narrative. This makes sense, given that most of the major events have already transpired (with the exception of formalities that will be big news if and when they do occur — e.g., an official vote of dissolution, a filing of bankruptcy, etc.).
So let’s do a more comprehensive review of the latest Dewey stories from around the web. We bring you more theories of blame, more partner departures, and more revelations about the personal life of former chairman Steven H. Davis….
- Art, Biglaw, Dewey & LeBoeuf, Dewey Ballantine, Dissolution, Heller Ehrman, Partner Issues, Pictures, Real Estate
We’re tired. So let’s resort to pictures, as we have in the past, to tell the Dewey story….
- Bankruptcy, Biglaw, Bloomberg, Bracewell & Giuliani, Dewey & LeBoeuf, Dissolution, Lateral Moves, Media and Journalism, Partner Issues, Partner Profits, Securities Law, Videos, YouTube
Dewey Have Anyone Left To Turn Out the Lights?
(Plus an actual lawsuit, a possible lawsuit, and a partner’s theory of blame.)
That’s the question the WSJ Law Blog just asked about the [pick your favorite adjective: beleaguered / collapsing / flailing / troubled] law firm of Dewey & LeBoeuf. Today brings big, bad news for Dewey: bankruptcy superstar Martin Bienenstock is taking his practice to Proskauer Rose. He’s moving with five other partners — Philip Abelson, Irena Goldstein, Timothy Karcher, Michael Kessler, Judy Liu — and nine associates.
Dewey’s loss is Proskauer’s gain. “He is absolutely the crown jewel over there, a fantastic lawyer who will be a great partner,” a current Proskauer partner told us. “This is going to vault us into the company of Kirkland and Weil, giving us one of the top bankruptcy practices in the country. We are really thrilled.”
As you may recall, Bienenstock was a member of the five-person Office of the Chairman at Dewey. As my colleague Staci Zaretsky wondered earlier today, “Dewey seriously have one chairman again?” With Bienenstock to Proskauer, Jeffrey Kessler to Winston & Strawn, Richard Shutran to O’Melveny & Myers, and Steve Davis off to who knows where, only Charles Landgraf remains in the chairman’s office. (Note that Landgraf’s bio is still on the Dewey website.)
Bienenstock’s departure doesn’t mark the end of Dewey’s difficulties. Let’s review the latest news….
Of course we’ve added UPDATES, after the jump.
- Bankruptcy, Biglaw, Dewey & LeBoeuf, Dewey Ballantine, Dissolution, ERISA, Federal Government, LeBoeuf Lamb, Old People, Partner Issues
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….
- Bankruptcy, Biglaw, Dewey & LeBoeuf, Dewey Ballantine, Dissolution, Law Firm Mergers, LeBoeuf Lamb, Money, Partner Issues, Reader Polls
Meanwhile, back on Earth and/or the rest of the internet, industry observers have been feeling a bit like voyeurs at a pre-mortem autopsy. Everyone agrees that the downfall of this once-great firm is hugely sad (well, nearly everyone), but there is less of a consensus about who or what is to blame.
Last week we asked the ATL readership for their take on where fault lies. Here’s what you had to say….