Ekaterina Rybolovleva: 'But daddy, I want an $88M apartment now!'
* No dowry, no problem: Dewey we have a suitor for this imploding Biglaw firm? Rumor has it that Greenberg Traurig was seen whispering sweet nothings into D&L’s ear about its possible interest. [Am Law Daily]
* BlackBerry maker Research In Motion has hired Milbank Tweed to work out a restructuring plan. Just think, maybe if your product didn’t suck so hard, you wouldn’t be in this position in the first place. [Reuters]
* Sex, money, and betrayal… it sounds like another failed TV series about lawyers on ABC, but in actuality, it’s just a preview of the John Edwards campaign finance trial set to begin this week. [Los Angeles Times]
* Technophobes beware, because this copyright battle over code is getting serious. Oracle v. Google turned into Larry v. Larry in court last week as the CEOs for both companies gave testimony. [Bits / New York Times]
* George Zimmerman thought he’d have to stay in jail longer because he was having trouble coming up with his bail money, but he was released in the dead of night. Bet he looked pretty suspicious. [CNN]
* “There are [fewer students] coming in and crying. I haven’t had a crier yet, which I have had in the past.” Given the legal hiring market, that’s a real accomplishment for a career services official. [Charlotte Observer]
* Who gives a sh*t? Not this Russian fertilizer tycoon. When you’re a billionaire, buying an $88M apartment for your kid is just a run-of-the-mill transaction. Come on, he’s not hiding his assets for his divorce. [Telegraph]
* The billable hour may be far from dead, but last year, 61% of general counsel worked out alternative fee arrangements with outside counsel, including counsel from elite (read: Biglaw) firms. [Wall Street Journal]
* Dewey need to take lessons on revenge from this firm? John Altorelli, the D&L defector who spilled all the beans to the Am Law Daily, was blasted on Page Six this weekend. More on this to come later today. [New York Post]
* CHECK YOU LATERALS: recent Quinn Emanuel hires William Burck, Paul Brinkman, and Andrew Schapiro, as well as name partner John Quinn, have entered appearances on behalf of Megaupload. [Am Law Daily]
* Copyright infringement suits over porn downloading involving some 3,500 defendants were dismissed because the plaintiffs’ attorney, Terik Hasmi, couldn’t get it in legally in Florida. [National Law Journal]
* In England, there’s no such thing as a no-fault divorce, but instead, you can get one for “unreasonable behavior” — behavior like malicious service of tuna casserole, and speaking only in Klingon. [New York Times]
* This gives “I’m a Slave 4 U” some new meaning. Britney Spears’s fiancé, Jason Trawick, is trying to start their impending rocky marriage off on the right foot. He’ll soon be her co-conservator. [New York Daily News]
Remember Steven Simkin, the prominent Paul Weiss partner who sued his ex-wife for a better divorce deal? Simkin argued that even though he negotiated for and obtained the couple’s investment account with one Bernard Madoff as part of their 2006 separation agreement, his former wife should now pay him more money — since it was subsequently revealed, years later, that Madoff was running a huge Ponzi scheme.
As you may recall, I was not terribly sympathetic to Simkin. In my view, an expert negotiator like Simkin — the head of PW’s real estate practice, who was also represented by separate counsel in the divorce — should be required to live with the bargain he struck. In negotiating for and taking on the Madoff account, he also took on the risks associated with that investment.
An intermediate appeals court sided with Simkin. But now New York’s highest court, the Court of Appeals, has spoken….
If you took a professional responsibility course in law school, or even studied for the MPRE, then you’re familiar with the the main takeaway on legal ethics for attorneys. You know that you have to zealously represent your clients without doing anything illegal. (And if you do decide to take a walk on the wild side, you know that you should try not to get caught.)
It looks like an attorney from New Mexico — one who had already been disbarred for cocaine possession — missed the memo on that one. Apparently his definition of zealous representation includes kicking down doors and burglarizing homes.
Just when you think you’ve seen it all, we’ve got it on film….
Valentine’s Day is right around the corner, and for some people, it represents a time to serenade a sweetheart, pop bottles of champagne, and stare dreamily into the eyes of Mr. or Ms. Right (or Right Now, as the case may be). For others, Valentine’s Day is a time of loneliness and despair — angry, bitter lawyers, we’re looking at you — where only the commiseration of other single friends can lift one’s spirits.
For others still, Valentine’s Day is a time to ponder how their spouse got so fat, and why they decided to marry such an obnoxious, sniveling idiot. For the last category of those who will be celebrating lamenting Valentine’s Day this year, we’ve got a possible salve for your marital woes.
As we mentioned in Morning Docket, those who hope to dodge Cupid’s arrows this year can enter a contest in the hopes of winning a free divorce. There’s just one catch….
* At least two firms probably won’t be handing out spring bonuses like candy this year. While gross revenue remained steady at Dickstein Shapiro and Crowell & Moring, PPP dropped at both firms. [Legal Times]
* Not-so breaking news: the Thirteenth Amendment applies only to humans. It seems like the only people who didn’t already know that were the lawyers PETA hired for their orca whale slavery case. [Washington Post]
* Washington has approved a bill to legalize same-sex marriage, and Governor Gregoire has vowed to sign it. Wedding planners can prepare for a fabulous summer season, and divorce practitioners can create a new niche. [CNN]
In Machiavelli’s masterpiece, The Prince, chapter 19 — “That One Should Avoid Being Despised And Hated” — contains Machaivelli’s only suggested restrictions on the Prince’s absolute power. Machiavelli essentially argues that the Prince must not take the people’s sheep (“sheep” being a metaphor for the ability of peasants to have enough food) or their women (“women” being a metaphor for women). He writes: “It makes him hated above all things, as I have said, to be rapacious, and to be a violator of the property and women of his subjects, from both of which he must abstain. And when neither their property nor honour is touched, the majority of men live content, and he has only to contend with the ambition of a few, whom he can curb with ease in many ways.”
These are good restrictions for all who find themselves in positions of inscrutable power. Most men will suffer any other form of servitude so long as they have enough to eat and are allowed exclusive access to their own wives. The 1% will be just fine, so long as they don’t institute some kind of system of polygamy that allows the wealthy to marry-up all of the available women.
Machaivelli’s advice applies just as easily to a totalitarian ruler of a country as it does to a managing partner of a law firm. Managing partners, ignore Machiavelli at your peril. You could end up with a full-scale revolt on your hands — or, at the very least, an embarrassing lawsuit from a former, allegedly cuckolded partner….
You made a fool of me… and got me in huge trouble with the feds.
For a long time, I have been a staunch advocate of putting passwords on all electronic devices — laptops, phones, tablets, etc. There’s no reason to leave your private life or sensitive business data accessible to any schmo who might have access to your phone, just because you’re too lazy to spend three seconds typing in a password. This is especially true for lawyers, given the client confidences that they handle.
At least personally, however, I’m more lax about sharing some access passwords with close friends or family. My girlfriend knows my iPhone and computer passwords. (I know hers too.) Usually I don’t stress about potentially catastrophic consequences of her knowing that information. But every once in awhile I read something that makes me seriously wonder if you can trust anybody.
My current crisis of trust arises from the prosecution of a man accused of conspiring to export millions of dollars of electronic equipment from the U.S. to Iran. Prosecutors found “incredibly blatant admissions of criminal wrongdoing and philandering” on the defendant’s iPhone. But the man says his wife — who he is currently trying to divorce — stole the phone and forged the incriminating evidence.
Talk about emasculating. Let’s read more about this not-so-happy couple.…
Remember Todd Remis? How couldn’t you? He’s the disgruntled groom with a Biglaw daddy whose ridiculous lawsuit against his wedding photographer made national news when it hit the New York Times. Why so ridiculous? Because he decided to sue six years after the wedding and one year prior to his divorce being finalized (and he continued to prosecute the suit even after the divorce).
At first glance, Remis’s suit seemed like a simple contract dispute. But thanks to Above the Law, he acquired the title of “groomzilla,” due to deposition testimony where he stated:
“I need to have the wedding recreated exactly as it was so that the remaining 15 percent of the wedding that was not shot can be shot.”
Many publications took our “groomzilla” title and ran with it, leaving Remis as the butt of many jokes. But now, more than two months after the story first broke, Remis has emerged from hiding to combat the New York Times version of his lawsuit. Remis wants to tell his side of the story, and he’s got a website to prove it….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: