Real Estate

Katherine Forrest: You'd smile too if you were this rich.

I recently wrote about Katherine B. Forrest, the celebrated litigatrix nominated to a federal judgeship on the breathtakingly prestigious Southern District of New York. Forrest currently serves as a deputy assistant attorney general in the Department of Justice’s antitrust division, but before joining the DOJ she was a longtime partner at Cravath, Swaine & Moore — a premier, if not the premier, American law firm. Forrest was one of CSM’s most popular (and most powerful) young partners.

Katherine Forrest has a reputation as an incredible attorney, and she has the awards to prove it (see question 8). Not surprisingly, the ABA deemed her “unanimously well-qualified” as an S.D.N.Y. nominee.

So here’s what I wondered: Why did the amazingly accomplished Forrest, a partner at super-lucrative Cravath for over a dozen years, declare a mere $4.3 million on her net worth statement? Granted, $4.3 million is nothing to scoff at; KBF is rich (even by Elie’s standards). But it seemed to me that a lawyer of her distinction, who was a partner at a top firm for such a long time, should be even richer.

Thanks to information from helpful readers who saw my earlier post, I now know the truth. As it turns out, Katherine Forrest is considerably wealthier than that $4.3 million number suggests.

Way richer, in fact. Let’s find out….

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Burka in the court?

* The three defendants in the civil wrongful-death action brought by Robert Wone’s widow are keeping their mouths shut. [National Law Journal]

* But their former house is open — and once again on the market, for the tidy sum of $1.6 million. [Who Murdered Robert Wone?]

* Professor Eugene Volokh wants to know, with respect to wearing religious head coverings to court, can’t we all just get along? [Volokh Conspiracy]

Lavi Soloway

* Congratulations to Lavi Soloway and his client, Henry Velandia, whose deportation proceedings have been adjourned — due in part to a recent decision by Attorney General Eric Holder, vacating a BIA decision in another case involving a same-sex couple. [Poliglot / Metro Weekly]

* Speaking of judges and gay marriage, maybe Justice Kennedy should trade Salzburg for São Paulo this summer. [ABA Journal]

* What is behind the spring bonus phenomenon? One big factor: the boom in the lateral hiring market. [Vault's Law Blog]

* Speaking of the state of the legal economy, we’ve already linked to the big Economist article on the legal profession — but check out this great photo, in case you missed it. [The Economist / Tumblr]

* Are harsh sanctions for discovery violations a good thing? Ben Kerschberg thinks so. [Law & Technology / Forbes]

* Don’t forget to wish your mom a Happy Mother’s Day! (Unless your mom is Vivia Chen.) [The Careerist]

* Litigators: Do you know about the usefulness of Rule 56(f) 56(d)? [What About Clients?]

* When Glenn Reynolds is away, Ann Althouse will play. [Althouse via Instapundit]

* Were your law school classmates this attractive? Probably not. [YouTube]

The Jones Street townhouses. Number 20 has the purple door.


As small-firm columnist Valerie Katz previously discussed, some partners at small law firms are worth big bucks. The only practicing lawyer in the Forbes 400 is a small-firm attorney, in fact.

So it shouldn’t come as a surprise that some partners at small firms have big and beautiful wives homes. The New York Times recently featured one such lawyerly lair: a magnificent townhouse in Manhattan’s coveted West Village neighborhood, now on the market for almost $7.5 million.

The owner of this house once worked at a large law firm and is now a partner in a small law firm. Which firms?

Find out — and ogle photos of the palatial spread — after the jump.

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Read the Asia Chronicles if you're interested in living and working in Hong Kong.

This week in sponsored content: an interesting look at the Hong Kong housing market, by Alexis Lamb of the Asia Chronicles. Finding a flat in HK these days poses quite the challenge.

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Yesterday my wife and I signed a lease for a new apartment. It was a pretty big day for us, since we’d been living in the same squalid spider hole for eight years.

The entire process — which, depending on when you start counting, took 10 days, 6 weeks, or 11 and a half months — gave me a chance to closely examine one of our favorite topics around here: Is it really more difficult to rent a place if you are a lawyer? We’ve done stories about the kinds of things lawyer residents can do that can give building managers angina. But do any of those lawyer horror stories actually make people less likely to lease spaces to attorneys?

Based on my recent experience, I think the answer is no — it’s just that lawyers and people with legal training go through the process differently than regular folks. That may make the process more difficult, but not discriminatory against people who know their rights….

double red triangle arrows Continue reading “Why People Don’t Like Lawyer Tenants, Redux”

Tomorrow, March 15, the end will finally come for Howrey. Later this month, the law firm of David J. Stern, formerly known as Florida’s foreclosure king, will shut its doors.

This week, we’ve got another sizable law firm announcing its dissolution. Obviously not everybody is catching on to this economic recovery. While some firms are doling out the green, in the form of spring bonuses, other firms are handing out pink slips.

Today’s law firm obituary also comes from South Florida. Yes, we know, shocking that Florida is still suffering the effects of the recession. But there are another 280 people down there who will soon need to find new jobs….

double red triangle arrows Continue reading “Another Law Firm Dissolves. Do Bad Things Really Come in Threes?”

Whoops. Even though the polls closed about a week ago, we forgot to announce our Lawyer of the Month for February.

So let’s get to it. Who is Above the Law’s latest honoree?

double red triangle arrows Continue reading “February Lawyer of the Month: We’re Starting To See A Pattern Here”

Back in September 2010, we bestowed Lawyer of the Day honors upon David J. Stern, aka Florida’s “Foreclosure King.” We noted Stern’s rise into the ranks of self-made millionaires, despite not having attended some fancy first-tier law school. (Stern graduated from the South Texas College of Law, a fourth-tier school.)

We marveled at Stern’s wealth: a $14 million mansion here, a $7 million condo there, Ferraris and Porsches galore, and a 130-foot, $20 million yacht. We noted that Stern, thanks to the success of his booming foreclosure-law practice, was “running financial circles around all those Stanford and NYU law grads who wound up as Biglaw partners.”

Alas, in the past few months, David Stern’s fortunes have taken a turn for the worse….

double red triangle arrows Continue reading “Is the Florida Foreclosure King Abdicating? David J. Stern Will Close His Law Firm”

On Twitter, somebody told me that “February is the Monday of months.” So true. For such a short month, February just drags on and on and on. Maybe it does make sense to dump Black History Month in February, because the month is like the freaking Middle Passage, bringing us to the tyranny of hay-fever season.

In any event, now that it’s over, let’s take a look back at the lawyers who made news in the month of February and ask you to pick a Lawyer of the Month. Just like last month, there are no specific criteria — just vote for the lawyer or lawyers you think most deserve the title.

Let’s get to this month’s nominees….

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Gene Hackman as Lex Luthor

Oh, condominiums. To own your own box of air in the sky, subject to the terms and conditions of your neighbors and building managers. Lex Luthor always had this right: either you own land or ponces wearing underwear on the outside can swoop in and ruin your good time.

We’ve got a couple of lawyer/condo issues floating around, so let’s tackle them together. We’ve got a Miami judge who allegedly likes to kick in doors to her own unit. And we’ve a New York lawyer who wants satisfaction over 109 missing square feet…

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