How to handle Dewey (or similar firms)

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Anonymous User
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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Mon Apr 30, 2012 2:32 pm

To give my fellow summers some hope, I just landed an interview at a V50 and it seems there is more interest from other firms as well. I got this V50 interview by contacting an admin assistant I know at the firm who forwarded it on. ANY connection you have might work so contact anyone and everyone you know if you haven't already.

LawIdiot86
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Re: How to handle Dewey (or similar firms)

Postby LawIdiot86 » Mon Apr 30, 2012 8:19 pm

Current count, 236.

09042014
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Re: How to handle Dewey (or similar firms)

Postby 09042014 » Mon Apr 30, 2012 8:33 pm

The firm is done. No way will they recover from this unless they just go to the woodshed and cut everyone who doesn't service an institutional client. Anyone can leave will.

Anonymous User
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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Mon Apr 30, 2012 9:08 pm

Was just looking at the partner count, 235... the screen started to flicker so I refreshed... down to 234.

edit: didn't mean to make that anonymous - younger abstention

LawIdiot86
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Re: How to handle Dewey (or similar firms)

Postby LawIdiot86 » Tue May 01, 2012 12:10 am

Courtesy of ATL comments:

To: Global Partners

From: Office of the Chairman

The EC and OC have determined that, given the
current situation, the priority of the firm should be to help partners
to find the best opportunities for their clients, the firm's employees,
and themselves. In this regard, we will continue
to discuss potential transactions with other firms and present
opportunities to partners that arise from these discussions. At the same
time, all partners, including EC and OC members, are encouraged to seek
out alternative opportunities for themselves or
groups of partners, as appropriate, but to keep the OC advised of these
opportunities if they come to fruition so that these can, if possible,
be carried out in a coordinated and mutually beneficial manner. The EC
has determined that it is in the best interest
of the firm that OC and EC members and the Executive Partner continue
to serve on these bodies while they seek out opportunities.

All partners should feel free to pursue such
discussions, including with any firms that have previously been in
discussions with the firm. In connection with such discussions, we ask
that you advise any firms you consider that it may be
beneficial to DL's creditors for you to continue collecting outstanding
receivables and unbilled inventory from clients whose matters move with
you to new firms. This could also lead to arrangements that are
beneficial to all parties. To the extent a new
firm may need some of our associates or nonlegal staff, you can discuss
them with them so that we can coordinate and help provide new jobs for
our employees.

Please note that the firm is carrying on its
business, servicing its clients, and paying its bills. At the same
time, it is undertaking to find new employment for its legal and
nonlegal staff while administering its assets carefully.
We thank everyone for their continued support during this difficult
time.

While it should be unnecessary to say, this email
is confidential and should not be shared with anyone else inside or
outside the firm, including the press.


Translation: Run away from here NOW, run as fast as humanly possible!

09042014
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Re: How to handle Dewey (or similar firms)

Postby 09042014 » Tue May 01, 2012 12:19 am

LawIdiot86 wrote:Courtesy of ATL comments:

To: Global Partners

From: Office of the Chairman

The EC and OC have determined that, given the
current situation, the priority of the firm should be to help partners
to find the best opportunities for their clients, the firm's employees,
and themselves. In this regard, we will continue
to discuss potential transactions with other firms and present
opportunities to partners that arise from these discussions. At the same
time, all partners, including EC and OC members, are encouraged to seek
out alternative opportunities for themselves or
groups of partners, as appropriate, but to keep the OC advised of these
opportunities if they come to fruition so that these can, if possible,
be carried out in a coordinated and mutually beneficial manner. The EC
has determined that it is in the best interest
of the firm that OC and EC members and the Executive Partner continue
to serve on these bodies while they seek out opportunities.

All partners should feel free to pursue such
discussions, including with any firms that have previously been in
discussions with the firm. In connection with such discussions, we ask
that you advise any firms you consider that it may be
beneficial to DL's creditors for you to continue collecting outstanding
receivables and unbilled inventory from clients whose matters move with
you to new firms. This could also lead to arrangements that are
beneficial to all parties. To the extent a new
firm may need some of our associates or nonlegal staff, you can discuss
them with them so that we can coordinate and help provide new jobs for
our employees.

Please note that the firm is carrying on its
business, servicing its clients, and paying its bills. At the same
time, it is undertaking to find new employment for its legal and
nonlegal staff while administering its assets carefully.
We thank everyone for their continued support during this difficult
time.

While it should be unnecessary to say, this email
is confidential and should not be shared with anyone else inside or
outside the firm, including the press.


Translation: Run away from here NOW, run as fast as humanly possible!


What it sounds like is everyony is going to mad dash to Greenberg and leave shit tier partners and associates holding the bag.

Anonymous User
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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Tue May 01, 2012 12:49 am

http://dealbook.nytimes.com/2012/04/30/ ... -to-leave/

Contains Memo above and more information, essentially Dewey is done.

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sunynp
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Re: How to handle Dewey (or similar firms)

Postby sunynp » Tue May 01, 2012 5:16 am

So on Saturday the EC was telling everyone to keep working (in a memo that used the word "continue" five times") and now on Monday it is run for the lifeboats. Most people were running for the lifeboats anyway. So the point of this memo is to tell the partners it is ok to leave, but tell us what you are doing so we can get the most money out of it? And, by the way, the EC members have made plans to leave too.

Perhaps that is it, the EC members got other deals but can't announce them while it looks like they are trying to keep the firm going.

Did they get any extension from the lenders? Maybe a few weeks?

I don't know why anyone would go to work today - except possibly to get any personal stuff they had and to make sure they have great form files set up. ( they should have done this already - but maybe it isn't too late to do it today.)

What clients are left anymore? I wouldn't count on lawyers whose firm is gone and who are looking for other jobs to focus on my matters.

And good luck to all the 3Ls out there. I hope you guys can find something else.

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nygrrrl
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Re: How to handle Dewey (or similar firms)

Postby nygrrrl » Tue May 01, 2012 8:56 am

Anonymous User wrote:To give my fellow summers some hope, I just landed an interview at a V50 and it seems there is more interest from other firms as well. I got this V50 interview by contacting an admin assistant I know at the firm who forwarded it on. ANY connection you have might work so contact anyone and everyone you know if you haven't already.

Congrats! This is great advice. The SAs I know have been hustling like crazy and are also finding that there is empathy in the market; working every contact seems key.

Anonymous User
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Re: How to handle Dewey (or similar firms)

Postby Anonymous User » Tue May 01, 2012 10:02 am

Dewey SAs should reach out to offices in large markets like NYC even if you were planning to work in a smaller market. Although many offices in smaller markets are sympathetic to applications, it is more difficult for them to make room in their classes.

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nygrrrl
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Re: How to handle Dewey (or similar firms)

Postby nygrrrl » Tue May 01, 2012 10:05 am

Anonymous User wrote:Dewey SAs should reach out to offices in large markets like NYC even if you were planning to work in a smaller market. Although many offices in smaller markets are sympathetic to applications, it is more difficult for them to make room in their classes.

Caveat: there are a lot of NYC SAs already banging on those doors.

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legalese_retard
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Re: How to handle Dewey (or similar firms)

Postby legalese_retard » Tue May 01, 2012 10:41 am

Might be worth contacting this guy at DLA Piper. From his email to former Dewey partners:

JOHN ALTORELLLI — EMAIL TO FORMER DEWEY PARTNERS

Dear Colleagues,

It has been difficult watching the events unfold at our former firm. I feel terrible that I could not have done more to save the firm and the people who gave so much to the firm. I can no longer stand by without attempting to do something for the employees who remain at Dewey & LeBoeuf. I am in the process of taking the following actions steps: (1) finding a placement agency to help current D&L employees find new jobs in the event that D&L is no longer able to provide employment, (2) asking my new firm (and hope you will do the same) to offer jobs to as many employees and associates as we can (including members of the recently cancelled incoming summer associate class) in the event those employees and associates lose their jobs, and (3) soliciting donations from former partners of D&L to provide cash to employees who are in dire need as a result of losing their jobs at D&L.

I am going to make an initial donation of $10,000. I hope others will join me with donations of any size. I will return to the donors, on a pro rata basis, any funds that are not given to employees of D&L.

Shortly, I will be circulating more information on how to donate funds, how the funds are to be used and/or returned, and who to contact to assist with hiring D&L employees and associates who desire a job. I also am open to your help with any of the above.

I hope you all are doing well given the circumstances and hope you keep in touch
.

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sunynp
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Re: How to handle Dewey (or similar firms)

Postby sunynp » Tue May 01, 2012 10:47 am

legalese_retard wrote:Might be worth contacting this guy at DLA Piper. From his email to former Dewey partners:

JOHN ALTORELLLI — EMAIL TO FORMER DEWEY PARTNERS

Dear Colleagues,

It has been difficult watching the events unfold at our former firm. I feel terrible that I could not have done more to save the firm and the people who gave so much to the firm. I can no longer stand by without attempting to do something for the employees who remain at Dewey & LeBoeuf. I am in the process of taking the following actions steps: (1) finding a placement agency to help current D&L employees find new jobs in the event that D&L is no longer able to provide employment, (2) asking my new firm (and hope you will do the same) to offer jobs to as many employees and associates as we can (including members of the recently cancelled incoming summer associate class) in the event those employees and associates lose their jobs, and (3) soliciting donations from former partners of D&L to provide cash to employees who are in dire need as a result of losing their jobs at D&L.

I am going to make an initial donation of $10,000. I hope others will join me with donations of any size. I will return to the donors, on a pro rata basis, any funds that are not given to employees of D&L.

Shortly, I will be circulating more information on how to donate funds, how the funds are to be used and/or returned, and who to contact to assist with hiring D&L employees and associates who desire a job. I also am open to your help with any of the above.

I hope you all are doing well given the circumstances and hope you keep in touch
.

This is ridiculous - what a jerk. They should call this "the rats who left the sinking ship- and helped make the ship sink faster so now you have no job- fund."

That said, ask him for as much help as you can get to find another job. Not sure any of these new partners have any power to bring in associates or summers to the firms, usually not.

Younger Abstention
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Re: How to handle Dewey (or similar firms)

Postby Younger Abstention » Tue May 01, 2012 10:59 am

Uhh... and why is he a jerk?

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sunynp
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Re: How to handle Dewey (or similar firms)

Postby sunynp » Tue May 01, 2012 11:03 am

Younger Abstention wrote:Uhh... and why is he a jerk?

Because he left the firm to save himself and now wants to throw a bone of $10,000 to a thousand staff people (plus who knows how many associates)who will have no health insurance, no job and no income. Not to mention the associates,the partners would have taken with them if they could in the first place. New lateral partners don't usually get to just bring over expensive associates to handle their work, the existing firm has associates and staff already. Not to say that no one will get a job, but I would love to see, at the end of the day, how many people (staff and attorneys) the partners who left are able to hire.

Who is going to set up and administer a fund like that? How are they going to decide who deserves money? How much will they get? How much do you really think other partners will kick in? These funds are very complicated to administer, see the problems with the money for families of WTC victims. Example: is paying for someone's rent more important than helping a 3L pay for the bar exam?

The Duck
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Re: How to handle Dewey (or similar firms)

Postby The Duck » Tue May 01, 2012 11:07 am

sunynp wrote:
Younger Abstention wrote:Uhh... and why is he a jerk?

Because he left the firm to save himself and now wants to throw a bone of $10,000 to a thousand staff people who will have no health insurance, no job and no income. Not to mention the associates who the partners would have taken with them if they could in the first place.

Who is going to set up and administer a fund like that? How are they going to decide who deserves money? How much will they get? How much do you really think other partners will kick in? These funds are very complicated to administer, see the problems with the money for families of WTC victims.


Because he should have screwed his own family to save them? Its his livelihood too. They are all in the same boat. He may be in a better position but that doesn't make him a jerk. You would have had all of the partners stay around even though they weren't getting paid? And hadn't been paid millions of dollars over the last year? It's not clear some partners have been paid anything for some time.

He's offering to do something to help, there is isn't much more you can ask of him. It's not his fault the firm is going under. Besides the money, he appears to be trying to place people. And encourage others to do the same. I

It sounds like he is going to administer it. He said he'd return undisposed money. Also, these funds are nothing like the WTC victim funds. There are a relatively small number of claimaints. Prioritizing how to spend it wouldn't be hard. First come, first serve...and prove need.
Last edited by The Duck on Tue May 01, 2012 11:11 am, edited 1 time in total.

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sunynp
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Re: How to handle Dewey (or similar firms)

Postby sunynp » Tue May 01, 2012 11:09 am

The Duck wrote:
sunynp wrote:
Younger Abstention wrote:Uhh... and why is he a jerk?

Because he left the firm to save himself and now wants to throw a bone of $10,000 to a thousand staff people who will have no health insurance, no job and no income. Not to mention the associates who the partners would have taken with them if they could in the first place.

Who is going to set up and administer a fund like that? How are they going to decide who deserves money? How much will they get? How much do you really think other partners will kick in? These funds are very complicated to administer, see the problems with the money for families of WTC victims.


Because he should have screwed his own family to save them? Its his livelihood too. They are all in the same boat. He may be in a better position but that doesn't make him a jerk. He's offering to do something to help, there is isn't much more you can ask of him. It's not his fault the firm is going under.

My opinion is what he is offering is untenable and won't help people in a practical way. My opinion is he is trying to make himself look better for leaving the firm. He didn't have to leave, several of the best partners didn't.

The Duck
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Re: How to handle Dewey (or similar firms)

Postby The Duck » Tue May 01, 2012 11:12 am

sunynp wrote:
The Duck wrote:
sunynp wrote:
Younger Abstention wrote:Uhh... and why is he a jerk?

Because he left the firm to save himself and now wants to throw a bone of $10,000 to a thousand staff people who will have no health insurance, no job and no income. Not to mention the associates who the partners would have taken with them if they could in the first place.

Who is going to set up and administer a fund like that? How are they going to decide who deserves money? How much will they get? How much do you really think other partners will kick in? These funds are very complicated to administer, see the problems with the money for families of WTC victims.


Because he should have screwed his own family to save them? Its his livelihood too. They are all in the same boat. He may be in a better position but that doesn't make him a jerk. He's offering to do something to help, there is isn't much more you can ask of him. It's not his fault the firm is going under.

My opinion is what he is offering is untenable and won't help people in a practical way. My opinion is he is trying to make himself look better for leaving the firm. He didn't have to leave, several of the best partners didn't.


That's a pretty naive view. I don't think he needs to make himself look better because I don't think anyone would blame him for leaving. At least no one who is more detached from the situation. His donation alone may be impractical. But he's trying to start a snowball effect. This is how most such funds begin. By your reasoning, no partner should ever leave a firm for one that's better for his career because it'd hurt those left behind.

I'd actually be surprised if current partners at Dewey are upset at those leaving. Jealous maybe, but I doubt they are upset.

Other have stayed, but for all we know they're being paid. Or, they have open matters they are wrapping up so those clients follow them. They can't just take the client to a new firm and work on an old matter because Dewey's creditors have a claim for the receivables. This was a major lesson from Howery. They need to wrap up matters or the new firm gets sued in the bankruptcy. I'd be surprised if any are staying solely because they want to ride the ship down.

MrAnon
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Re: How to handle Dewey (or similar firms)

Postby MrAnon » Tue May 01, 2012 11:19 am

You would think that very few if any partners left at Dewey now would have portable business. Anyone who had the ability to leave probably already took off.

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sunynp
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Re: How to handle Dewey (or similar firms)

Postby sunynp » Tue May 01, 2012 11:21 am

MrAnon wrote:You would think that very few if any partners left at Dewey now would have portable business. Anyone who had the ability to leave probably already took off.


I'm not sure about this - some firms might be willing to take groups of partners from Dewey - they just don't want the whole firm. I know that Bienenstock could probably get a job anywhere he wanted and so could Kessler. I don't know about the energy and insurance groups.

The Duck
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Re: How to handle Dewey (or similar firms)

Postby The Duck » Tue May 01, 2012 11:21 am

MrAnon wrote:You would think that very few if any partners left at Dewey now would have portable business. Anyone who had the ability to leave probably already took off.


Someone still has to wrap up current work or they have to take open matters with them. They can't just abandon clients. Especially bankruptcies, etc that are supervised by courts.

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Re: How to handle Dewey (or similar firms)

Postby imchuckbass58 » Tue May 01, 2012 11:26 am

MrAnon wrote:You would think that very few if any partners left at Dewey now would have portable business. Anyone who had the ability to leave probably already took off.


Bienenstock, Kessler, Flaum, Climan, Pierce, Shutran, Bennett, Ferrara, Bunsow...

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Re: How to handle Dewey (or similar firms)

Postby MrAnon » Tue May 01, 2012 11:52 am

The Duck wrote:
MrAnon wrote:You would think that very few if any partners left at Dewey now would have portable business. Anyone who had the ability to leave probably already took off.


Someone still has to wrap up current work or they have to take open matters with them. They can't just abandon clients. Especially bankruptcies, etc that are supervised by courts.


yeesh. Clients don't get abandoned. Portable business means you move and the work goes with you.

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Re: How to handle Dewey (or similar firms)

Postby NinerFan » Tue May 01, 2012 11:55 am

sunynp wrote:
The Duck wrote:
sunynp wrote:
Younger Abstention wrote:Uhh... and why is he a jerk?

Because he left the firm to save himself and now wants to throw a bone of $10,000 to a thousand staff people who will have no health insurance, no job and no income. Not to mention the associates who the partners would have taken with them if they could in the first place.

Who is going to set up and administer a fund like that? How are they going to decide who deserves money? How much will they get? How much do you really think other partners will kick in? These funds are very complicated to administer, see the problems with the money for families of WTC victims.


Because he should have screwed his own family to save them? Its his livelihood too. They are all in the same boat. He may be in a better position but that doesn't make him a jerk. He's offering to do something to help, there is isn't much more you can ask of him. It's not his fault the firm is going under.

My opinion is what he is offering is untenable and won't help people in a practical way. My opinion is he is trying to make himself look better for leaving the firm. He didn't have to leave, several of the best partners didn't.


I don't think you can fairly say this without knowing the specifics of his situation. If he was one of the people who was getting severely underpaid because of the stupid guaranteed contracts, why stick around? Or, if he saw the writing on the wall, he might have preserved his negotiating power by jumping ship when he did instead of waiting.

It's easy for you to sit there as a law student or young associate and criticize him, but if you were in his situation, I think you might have cut and run too. Any myth of some kind of "loyalty" you owe to law firm is laughable. Dewey wouldn't hesitate to de-equitize or push out someone who wasn't pulling their weight, what loyalty do you owe back?

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Re: How to handle Dewey (or similar firms)

Postby MrAnon » Tue May 01, 2012 11:58 am

imchuckbass58 wrote:
MrAnon wrote:You would think that very few if any partners left at Dewey now would have portable business. Anyone who had the ability to leave probably already took off.


Bienenstock, Kessler, Flaum, Climan, Pierce, Shutran, Bennett, Ferrara, Bunsow...


For some it may have something to do with these guys being members of the firm leadership. has anyone who is really a firm leader on exec committee or governance committee already left? Some may be tied to the firm for reason's beyond our understanding. For others...well now is the time when you are seeing the marketplace set the value on their services.




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