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Legal Malpractice
Legal Malpractice Professional Liability Claims, Litigation Strategies, and Attorney Disciplinary Procedures Friday, March 24, 2017 Friday, March 10, 2017 New York City | Live & Webcast Westchester | Live Program Friday, March 24, 2017 Friday, March 17, 2017 Albany | Live Program Rochester | Live Program Friday, March 31, 2017 Long Island | Live Program 4.0 MCLE Credits 3.0 Ethics | 1.0 Law Practice Management Interactive Video Conference Formats are approved for MCLE Credit for all attorneys, including newly admitted. www.nysba.org/LegalMalpractice2017Materials Sponsored by the Law Practice Management Committee, the Torts, Insurance & Compensation Law Section and the Trial Lawyers Section of the New York State Bar Association. This program is offered for educational purposes. The views and opinions of the faculty expressed during this program are those of the presenters and authors of the materials. Further, the statements made by the faculty during this program do not constitute legal advice. Copyright © 2017 All Rights Reserved New York State Bar Association Program Description Lawsuits against lawyers arising from errors and/or omissions in the performance of legal services are on the rise. It is now an integral part of a law firm’s business practice to evaluate its legal risk and malpractice insurance needs. This program is designed to educate attorneys on how to prosecute and/or defend a legal malpractice action. In addition, this program will educate attorneys about their legal malpractice exposures, what they should do in the event that a lawsuit is filed against them, and what they should do when situations arise that indicate that a legal malpractice claim is likely. -
When Law Firms Go Bankrupt — What Secured Lenders Can Learn from the Dewey Bankruptcy
PLACE PDF @ 88% REPRINTED FROM THE NOV/DEC 2012 ISSUE, VOL. 10, NO. 8 BANKRUPTCY UPDATE When Law Firms Go Bankrupt — What Secured Lenders Can Learn From the Dewey Bankruptcy BY JEFFREY A. WURST, ESQ When law firm Dewey & LeBoeuf filed for Chapter 11 protection, it was obligated to its secured creditors, among many others, led by JP Morgan on a $75 million line of credit facility. Jeffrey Wurst explains what led to Dewey’s collapse and offers advice regarding key indicators of a potential creditor’s fiscal irresponsibility. ictims of bankruptcy come in many forms. Dewey filed for bankruptcy in the U.S. Bankruptcy They include the debtors themselves, as well Court for the Southern District of New York. Many theo- V as their secured and unsecured creditors. When ries abound as to the causes of Dewey’s collapse, but, law firms fall into bankruptcy, the secured lenders are essentially, the crux appears to be that Dewey guaran- often among the hardest hit. Typically, these secured teed an unsustainable amount of compensation to both lenders take security interests in all assets of the law newly acquired and longstanding partners. Hoping to firm when funding operations. The assets with the generate enormous fees off these highly compensated most value tend to be the cash and cash equivalents partners, Dewey subsequently took on debt to fund the and the accounts receivable. The problem with many failing business. However, the economic impact of the recent law firm bankruptcies is that cash on hand is recession forced Dewey to consolidate its debt. Further JEFFREY A. -
Law School Record, Vol. 48, No. 1 (Fall 2001) Law School Record Editors
University of Chicago Law School Chicago Unbound The nivU ersity of Chicago Law School Record Law School Publications Fall 9-1-2001 Law School Record, vol. 48, no. 1 (Fall 2001) Law School Record Editors Follow this and additional works at: http://chicagounbound.uchicago.edu/lawschoolrecord Recommended Citation Law School Record Editors, "Law School Record, vol. 48, no. 1 (Fall 2001)" (2001). The University of Chicago Law School Record. Book 85. http://chicagounbound.uchicago.edu/lawschoolrecord/85 This Book is brought to you for free and open access by the Law School Publications at Chicago Unbound. It has been accepted for inclusion in The University of Chicago Law School Record by an authorized administrator of Chicago Unbound. For more information, please contact [email protected]. THE U N V E R S T Y 0 F R E c o R D Fall 2001 The University of Chicago Law School Saul Levmore Dean and William B. Graham Professor of Law Jonathan S. Stern Associate Dean for External Affairs Editors Deborah Franczek, '71 2 Kyle Holtan Kathy Schichtel Senior Writer Gerald de Jaager Contributing Writers and Editors Richard Badger, '68; Douglas Baird; Ellen Cosgrove, '91; Nichole Crist; Roberta Dempsey; Diane Downs; Richard Epstein; Marsha Ferziger, '95; Kay Kersch Kirkpatrick; Abner Mikva, '51; Martha Nussbaum; Peter Schuler Class Correspondents Affable Alumni 38 6 Design and Production VisuaLingo Fran Gregory Chief Photographer Michelle Litvin Supporting Photographers Cheri Eisenberg Bruce Powell Publisher The University of Chicago Law School Office of External Affairs ibc 1111 East 60th Street Chicago, Illinois 60637 Telephone: 773-702-9486 Facsimile: 773-702-0356 Email: [email protected] Web site: www.law.uchicago.edu The University of Chicago Law School Record (lSSN 0529-097X) is published for alumni, faculty, and friends of the Law School. -
The New Yorker
A NNALS OF LAW THE COLLAPSE How a top legalfirm destroyed itse(f BY JAMES B. STEWART n an April morning in Manhattan A group of Dewey & LeBoeuf LLP part in his briefcase, and walked to the eleva last year, Steven Davis, the former ners has asked the New York district attor tor. He never returned. O ney to bring c(iminal charges against the chairman ofthe law firm ofD ewey & Le chairman of the totrering firm, which could A month later, on May 28, 2012, Boeuf, reached for his ringing cell phone. dose its doors as early as next week, a source Dewey & LeBoeuf.filed for bankruptcy. He was sitting in the back seat of a taxi, familiar with the matter said Thursday. The Times called it the largest law-firm The source told Law360 that an un on the way downtown to renew his pass disclosed number of partners from Dewey collapse in United States history. The port. Dewey & LeBoeuf, which was often asked the New York County district attorney firm embodied a business strategy that referred to in the press as a global "super to charge the chairman, Steven H. Davis, has begun to supplant the traditional part with embezzlement, wire fraud, mail fraud finn," was largely his creation. In 2007, he and other criminal activity. nership values of loyalty and collegiality had engineered the merger ofa profitable with an insistence upon expansion: by but staid midsized specialty firm- Le Davis immediately returned to his merging with another firm (and a Boeuf, Lamb, Greene &MacRae-with office, on the forty-third floor of a sky different culture) or by offering unwieldy a less profitable but much better- known scraper on Sixth Avenue near Fifty-sec financial packages to lure partners from firm, Dewey Ballantine. -
CLIENTS: PARTIAL LIST 115-87 Owners Corporation '21' Club Inc
CLIENTS: PARTIAL LIST 115-87 Owners Corporation '21' Club Inc. Aby Kalimian Akin Gump Strauss Hauer & Feld LLP Alan Fox, Esq. Alfa Development Management, LLC Alice Alexiou Alliance for Downtown New York Alston & Bird, LLP Alterman & Boop, LLP American Broadcasting Companies, Inc. American Telephone & Telegraph Co. Amerimar Enterprises, Inc. Arent Fox Kintner Plotkin & Kahn, PLLC Arlen Realty & Development Corporation Arnold S. Penner Asher Dann Association of the Bar of New York Atco Properties & Management, Inc. Atlan Management Corporation Bachner, Tally, Polevoy & Misher Backenroth, Frankel & Krinsky, LLP Balber Pickard Battisoni Baldwin & Haspel, LLC Bally Total Fitness Banif Mortgage Barnard Charles Real Estate Bernard Spitzer, P.E. Bass Real Estate Battery Park City Authority Battle Fowler Beatie and Osborn LLP Becker Ross Stone DeStefano & Klein Ben Heller Blank Rome LLP BLDG Management Company, Inc. Blesso Properties Bonjour Capital Boston Properties Boulanger, Hicks & Churchill Boys Town Jerusalem Fndtn America, Inc. Brack Capital Real Estate-USA Brandt, Steinberg & Lewis LLP Bridge Business & Property Brokers, Inc. Brill & Meisel Brown & Wood Brown, Raysman & Millstein Bryan Cave, LLP Buckingham Hotel CLIENTS: PARTIAL LIST (CONTINUED) Buckingham Real Estate C. Lawrence Paine, LLC C.H. Martin Calvary Baptist Church Cambridge Systematics, Inc. Carol Management Company Carter, Ledyard & Milburn LLP CBS, Inc. Center for Jewish History Chatwal Hotels & Restaurants, Inc. Children’s Aid Society Children's Oncology Society of New York CIGNA Real Estate Investors Citi Urban Management Corporation City Center Real Estate, Inc. City of New Rochelle Clarendon Management Corporation Club Quarters Coach, Inc. Coalition for the Homeless Cohen Brothers Realty Corporation Cohen Hennessey Bienstock & Rabin P.C. Cohen Tauber Spievack & Wagner, P.C. -
The Jewish Law Firm: Past and Present
University of Denver Digital Commons @ DU Sturm College of Law: Faculty Scholarship University of Denver Sturm College of Law 2014 The Jewish Law Firm: Past and Present Eli Wald Follow this and additional works at: https://digitalcommons.du.edu/law_facpub Part of the Organizations Law Commons Recommended Citation HLS Center on the Legal Profession Research Paper No. 2015-9 This Paper is brought to you for free and open access by the University of Denver Sturm College of Law at Digital Commons @ DU. It has been accepted for inclusion in Sturm College of Law: Faculty Scholarship by an authorized administrator of Digital Commons @ DU. For more information, please contact [email protected],dig- [email protected]. The Jewish Law Firm: Past and Present Publication Statement Copyright held by the author. User is responsible for all copyright compliance. This paper is available at Digital Commons @ DU: https://digitalcommons.du.edu/law_facpub/28 THE JEWISH LAW FIRM: PAST AND PRESENT Eli Wald1 I. Introduction The rise and growth of large Jewish law firms in New York City during the second half of the twentieth century is nothing short of an astounding success story. 2 As late as 1950, there was not a single large Jewish law firm in town. By the mid-1960s, six of the largest twenty law firms were Jewish, and by 1980, four of the largest ten law firms were Jewish firms.3 Moreover, the accomplishment of these Jewish firms is especially striking because, while the traditional large White Anglo-Saxon Protestant (“WASP”) law firms also grew at a fast rate during this period, the Jewish firms grew twice as fast, and they did so in spite of explicit discrimination. -
Tier 1 Law Firms Tier 2 Law Firms
U.S. News & World Report – Best Lawyers in America 2011-12 listed more than 160 law firms in its ranking of Intellectual Property Litigation Firms. Edwards Wildman Palmer LLP is proud to have been ranked a Tier 1 Firm. The following lists all firms named, and the Tier under which each is listed. TIER 1 LAW FIRMS Covington & Burling LLP Winston & Strawn LLP Fenwick & West LLP Alston + Bird LLP Finnegan, Henderson, Farabow, Garrett & Dunner, LLP Chaz De La Garza & Assoc., LLC Fish & Richardson P.C. Cravath, Swaine & Moore LLP Foley & Lardner LLP Debevoise & Plimpton LLP K&L Gates LLP DLA Piper LLP Kenyon & Kenyon LLP Edwards Wildman Palmer LLP McDermott Will & Emery LLP Greenberg Traurig LLP Morrison & Foerster LLP Holland & Knight, LLP Patterson Belknap Webb & Tyler LLP Howrey LLP Perkins Coie LLP Jones Day Sidley Austin LLP Kirkland & Ellis LLP Skadden, Arps, Slate, Meagher & Flom LLP Quinn Emanuel Urquhart & Sullivan, LLP Squire, Sanders & Dempsey, L.L.P. Simpson Thacher & Bartlett LLP Sullivan & Cromwell LLP Susman Godfrey LLP WilmerHale Weil, Gotshal & Manges LLP TIER 2 LAW FIRMS Akerman Senterfitt LLP Orrick, Herrington & Sutcliffe LLP Bingham McCutchen LLP Panitch Schwarze Belisario & Nadel LLP Cowan Liebowitz & Latman, P.C. Paul, Weiss, Rifkind, Wharton & Garrison LLP Davis Polk & Wardwell LLP Proskauer Rose LLP Davis Wright Tremaine LLP Ropes & Gray LLP Dechert LLP Vinson & Elkins LLP Faegre & Benson LLP Woodcock Washburn LLP Fitzpatrick, Cella, Harper & Scinto Abelman Frayne & Schwab Gibson, Dunn & Crutcher LLP Akin Gump Strauss Hauer & Feld LLP Goodwin Procter LLP Allen, Dyer, Doppelt, Milbrath & Gilchrist, P.A. Holland & Hart LLP Arnold & Porter LLP Kaye Scholer LLP Baker & McKenzie LLP Keker & Van Nest LLP Baker Botts L.L.P. -
Law Firms and Associate Careers: Tournament Theory Versus the Production-Imperative Model
Law Firms and Associate Careers: Tournament Theory Versus the Production-Imperative Model Kevin A. Kordana Pray look better, Sir, quoth Sancho; those things yonder are no Giants, but Wind-mills .... The career of an associate in a large law firm has been portrayed in stark Darwinian terms: Only the fittest survive the "tournament" that is established by the firm's partners. Such is the tale told by Marc Galanter and Thomas Palay in Tournament of Lawyers: The Transformation of the Big Law Firm. This "tournament theory" explanation for the structure of large law firms has been widely adopted, and has received surprisingly little criticism.' 1. MIGUEL DE CERVANTES, DON QUIXOTE DE LA MANCHA 44 (Peter Motteux trans.. revised by John Ozell, 1950) (1605). The Spanish text reads: Mire vuestra merced--respondi6 Sancho-quc aquellos que allf se parecen no son gigantes, sino molinos de viento.. .- I MIGUEL DE CERVANTES. DON QUUOTE DE LA MANCHA 198-99 (Angel Basanta ed., 1985) (1605). 2. MARC GALANTER & THOMAS PALAY, TOURNAMENT OF LAWYERS: THE TRANSFORMAliON OF "IE BIG LAW FIRM (1991) [hereinafter GALANTER & PALAY, TOURNAMIENT]; see also Marc Galanter & Thomas M. Palay, Why the Big Get Bigger: The Promotion-to-PartnerTournament and the Growth of Large Law Firms, 76 VA. L. REV. 747 (1990) [hereinafter Galanter & Palay. Big Get Bigger). Compare GAI.ANTER' & PALAY, TOURNAMENT, supra, at 100 ("IThe firm holds a tournament in which all the associates in a particular 'entering class' compete and the firm awards the prize of partnership to the top ct percent of the contestants.") with CHARLES DARWIN, ON THE ORIGIN OF SPECIES 170 (facsimile of Istd. -
Corporate Counsel Institute
GEORGETOWN UNIVERSITY LAW CENTER CONTINUING LEGAL EDUCATION in cooperation with THE AMERICAN CORPORATE COUNSEL ASSOCIATION and THE AMERICAN SOCIETY OF CORPORATE SECRETARIES present the 7th Annual Corporate Counsel Institute March 13-14, 2003 • Washington, DC Georgetown, ACCA and ASCS offer you a 11.0 CLE credits, of which 2 will apply to legal ethics corporate counsel program with an unparalleled At the Seventh Annual Corporate Counsel Institute, you will: faculty. This Institute has become the premier event for corporate counsel because it offers you ● Receive an up-to-the-minute ● Receive a CEO perspective on practical, real-world review of the administration’s working with the law department solutions to your antitrust priorities from the from Knoll, Inc.’s Burt Staniar toughest problems. Chairman of the Federal Trade ● Explore the toughest problems Given the events of Commission and a former Assistant facing general counsel - and the this past year, Attorney General for the Antitrust ways to solve them - during the you cannot Division of the Department of Justice popular General Counsel afford to ● Review SEC priorities with Roundtable moderated by Tyco miss this Commissioner Harvey Goldschmid General Counsel Bill Lytton timely and analyze the new corporate ● Obtain a new perspective on the event! compliance regulations and the work of the Supreme Court from Commission’s enforcement priorities CBS News’ Bob Schieffer, our with the heads of the Divisions of luncheon speaker Enforcement and Corporation Finance ● Assess some of the pressing -
Understanding the Lateral Hiring Frenzy Richard T
Understanding The Lateral Hiring Frenzy Richard T. Rapp, Principal, Veltro Advisors, Inc. Why is lateral hiring proceeding at a frenetic pace even though legal employment is far below its 2007 peak? According to The American Lawyer, “Among Am Law 200 firms, the lateral partner market was so overheated that 92.5 percent of respondent to [their] new partner survey released in November said that legal 1 recruiters already had approached them.” Is lateral hiring at this pace a destabilizing force in the law industry or a sensible, productive feature of the legal labor market? And is it transitory or will it last? To know the answers requires stepping back to understand the economics of the market for lawyers. We can address this in two parts: first, managerial motives for lateral hiring which are easy to understand and, second—and harder to grasp—the market forces that propel lateral mobility, the likes of which we do not find in most other markets for senior talent. As it turns out, the best way to think about lateral hiring among law firms is as a kind of arbitrage; arbitrage that is likely to persist as long as the gains to partners from shifting are available. When we think about arbitrage we usually think about buying and selling to capture the gains from differences across markets, for example, differences in EuroDollar exchange rates between London and Singapore. But more generally, arbitrage refers to any effort to gain by exploiting differences in prices. In this case it is differences among law firms in the price of legal talent that is the main—though not the only—motivator of lateral moves by senior lawyers. -
Managing Through Law Firm Crisis
LEADING IN THE FACE OF LAW FIRM CRISIS An Experiential Guidebook For Our Times The COVID-19 pandemic has had an enormous impact on businesses world-wide. Law firms have been no exception. A relative handful of firms are enjoying an increase in demand for their services. For these firms, primary challenges relate to maintaining a safe work environment whether through working from home or modifying personal interaction at the office. For many firms, however, the business disruption includes a decline in work (and corresponding revenue) to an unknown degree for an unknown duration. Many of those firms find themselves in crisis. The following case studies, analysis, observations are offered as historical perspective on the role of leadership in the midst of crisis. In particular, we’ve zeroed in on the challenges related to maintaining stability and liquidity that many law firm leaders now find themselves waking to each day. 2 of 41 WHAT HAPPENED? EXPLORING THE WAKE OF MAN-MADE DISASTERS It seems that scarcely a month passes without news of immeasurable catastrophe in the wake of natural disaster. Tornadoes, hurricanes, earthquakes, and tsunamis can, in the blink of an eye, alter life in unimaginable ways. Aware of the potential consequences, we tend to keep a watchful eye for any early warning signs of such events. And then there are those disasters that are of our own making. Oil spills, breached levees, and economic shell games can pack an equally heavy punch. The tragedy, of course, is that these disasters bear our fingerprints and are to some degree avoidable. -
Talent Flight As a Run on the Firm: a Study of Post-Merger Integration at the Dewey-Lebeouf Law Firm
IRLE IRLE WORKING PAPER #120-14 November 2014 Talent Flight as a Run on the Firm: A Study of Post-Merger Integration at the Dewey-LeBeouf Law Firm Ming D. Leung and Hayagreeva Rao Cite as: Ming D. Leung and Hayagreeva Rao. (2014). “Talent Flight as a Run on the Firm: A Study of Post-Merger Integration at the Dewey-LeBeouf Law Firm”. IRLE Working Paper No. 120-14. http://irle.berkeley.edu/workingpapers/120-14.pdf irle.berkeley.edu/workingpapers TALENT FLIGHT AS A RUN ON THE FIRM: A STUDY OF POST-MERGER INTEGRATION AT THE DEWEY-LEBEOUF LAW FIRM Ming D. Leung Haas School University of California at Berkeley Hayagreeva Rao Graduate School of Business Stanford University Working Paper. Please do not quote. We thank Chris Rider for generously allowing access to some of his data. 1 TALENT FLIGHT AS A RUN ON THE FIRM: A STUDY OF POST-MERGER INTEGRATION AT THE DEWEY-LEBEOUF LAW FIRM ABSTRACT Although collective turnover is widespread, its consequences have seldom been studied. We focus on an extreme case - collective turnover after a merger between privately held firms, and argue that a cascade of exits triggers a loss of confidence in the firm, leading to subsequent exits. We show that it is not the loss of proficient talent that is a key signal of the loss of confidence, instead, it is the polarization of exits between the employees of the acquiring and acquired firm that signals uncertainty and jumpstarts other exits. We suggest that the momentum of ‘news’ after a merger affects confidence in the firm, and distinguish between the momentum of ‘bad news’ and the momentum of ‘good news.