Diandra Douglas‘ $45 million divorce settlement from Michael Douglas in 2000 is one of the most expensive in Hollywood history. But greed is good, and Diandra hauled Michael back into court this summer ten years after their divorce to lay claim to 50% of his earnings from Wall Street 2: Money Never Sleep, released in theatres in September.
Manhattan Supreme Court Judge Matthew Cooper ruled that a New York court was not the proper venue for the suit by Diandra Douglas. He dismissed her complaint on that narrow jurisdictional ground, without ruling on the merits of the case.
Diandra, 52, now has the option of re-launching the action in California, or of appealing Cooper’s decision.
Diandra’s argument hinged on the meaning of whether Wall Street 2 is a spinoff or a sequel of the original Wall Street…
Managing expectations is a very important skill — when it comes to personal relationships, movie enjoyment, and, of course, dealing with your co-workers and clients.
You need to know how to set boundaries. After you’ve pulled two all-nighters in a row, for example, it’s okay to tell the partner you work for that you just can’t do a third. If you give an inch, your colleague or client will take the proverbial mile.
We do not work on the weekends and do not provide emergency numbers for the weekends. There are times we may look at and answer your email over the weekend, but this is generally the exception and not to be relied upon by you that we are accessible on weekends.
And they don’t do windows, either.
Do not think we are perfect. We make mistakes. We are competent attorneys and paralegals, but we make mistakes. We will correct a mistake if we find it or if you point it out. Please do not yell at us, accuse us of not doing our job, or insult us over a mistake.
And please do not sue us for malpractice. We warned you at the outset that “[w]e make mistakes.”
In this week’s installment of “What the Hell is Wrong with Mel Gibson?“, our tragic hero took a break from allegedly beating the sh*t out of ex-girlfriend Oksana Glengarryglenrossgrivioa (and following up with typo-ridden text apologies) to hash out his divorce settlement with soon-to-be ex-wife Robyn. The settlement is on track to be the largest divorce payout in Hollywood history, with Robyn to get at least half of the almost $1 billion Mel earned during their 28-year marriage (community property, go go Gadget Family Law class).
But, as with everything Mel-related as of late, there’s a slight problem…
A few days ago, the Washington Post reported on the legal misadventures of prominent D.C. attorney Glenn Lewis (no relation to the Canadian R&B singer, as far as we know). According to the Post, “Glenn C. Lewis is an acknowledged titan of the D.C. area divorce bar, a former president of the Virginia Bar Association who boasts that he is the most expensive lawyer in the region: $850 an hour. He has an impressive office in the District and an array of high-profile clients.”
One would expect a lawyer of Lewis’s stature and success to have impeccable judgment. But it appears that recently he made a serious misjudgment. He decided to sue a former client for an extra $500,000 in fees and interest, after having already received some $378,000 from that client.
Unfortunately for Glenn Lewis, that client was a lawyer — and decided to strike back. By the end of the whole episode, Lewis ending up owing his former client money — an amount in the six figures….
It’s actually not the divorce of the Los Angeles Dodgers, but the divorce of real estate mogul Frank McCourt and his wife, Jamie. Some call it the Dodger Divorce, however, since this bitter litigation could determine the fate of the storied baseball team — an asset worth hundreds of millions.
The couple is fighting over ownership of the Dodgers in a Los Angeles courtroom, aided by a long list of leading litigators. Frank McCourt is represented by Stephen Susman of Susman Godfrey, among others, and Jamie McCourt’s legal team is led by David Boies of Boies Schiller. (For a more complete listing of the lawyers involved, see here.)
But right now Susman and Boies aren’t the lawyers in the limelight. Rather, all eyes are focused on attorneys from Bingham McCutchen. The Boston Globe reports:
The high-powered firm is suddenly at the center of the drama because of work done by its lawyers. At issue is the wording of a document signed by both McCourts six years ago. According to media reports, three copies of the marital property agreement use the word “inclusive,” which would make Frank McCourt the sole owner of the Los Angeles Dodgers, and three copies say “exclusive,” which would make Jamie McCourt the co-owner of the venerable Major League Baseball franchise.
This is not the first time we’ve covered how a tiny difference in language — just two little characters, “in” as opposed to “ex” — could mean millions. Remember the single-digit error that could cost a real estate company tens of millions? See also the $900,000 comma and the $40,000 missing “L.”
Yikes. This is such stuff as lawyers’ bad dreams are made of. Law truly is a game of inches. (When bloggers make typos, commenters make fun of us; when lawyers make typos, people die lose money — sometimes lots and lots of it.)
The lead lawyer from Bingham McCutchen, Larry Silverstein — no relation to the World Trade Center real estate developer, as far as we know — admits that he messed up in preparing the marital property agreement (MPA)….
'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….
Yesterday we covered the divorce of golf sensation Tiger Woods and his stunningly beautiful wife, former model Elin Nordegren. We noted that Nordegren was represented by McGuireWoods. Although McGuireWoods is a top firm, especially in its home state of Virginia, it’s “not known for its matrimonial practice,” as Nathan Koppel of the WSJ Law Blog observed.
How did McGuireWoods land this plum assignment? Several of you pointed it out in comments, and Brian Baxter reported on it over at Am Law Daily. The short answer: family ties. To quote the slogan of McGuireWoods: “Relationships… drive results.”
A statement issued yesterday by the divorcing couple noted that Nordegren was represented by, among others, a McGuireWoods attorney by the name of Josefin Lonnborg. The divorce was filed in Bay County Circuit Court, Florida; Josefin Lonnborg practices in London. Why was a corporate lawyer out of the U.K. involved in a U.S. matrimonial case?
Here’s why: Josefin Lonnborg and Elin Nordegren are twin sisters. And despite her impressive legal credentials — Lonnborg speaks fluent English and Swedish, has worked at law firms in Stockholm and London, and has a Master of Laws degree from the London School of Economics — she is more than just “lawyer hot.”
Yes, we know: pictures or it didn’t happen. So, pictures.
Warning: although the images below are perfectly safe for work, gentlemen may wish to be seated at desks before viewing, to avoid unseemly displays of… enthusiasm.
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.
How is everybody doing this day after bigotry was dealt a setback? Based on an Above the Law reader poll, about 80 percent of you think that Chief Judge Vaughn Walker (N.D. Cal.) did the right thing when he struck down California’s Proposition 8.
So gay people in California may soon be able to engage in the lovely “sh** or get off the pot” conversation that dominates the life of every guy who has been dating the same girl for more than a couple of years. Yay, congratulations!
But are gays and lesbians really sure they want marriage equality? After the cake, the reception, and the honeymoon, there are a bunch of… obligations that attach to marriage. Just look at New York. We don’t even have gay marriage here, and yet same-sex partners will find themselves on the hook for all sorts of things…
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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