Partners

UK Lawyer Who Made $25M in a Year is ‘Struck Off’ for Exploiting Clients

Last year, Jim Beresford made headlines as the United Kingdom’s highest-paid solicitor, having found a lucrative practice niche representing sick coal miners. Today, after a six-day hearing by the Solicitors Disciplinary Tribunal, he was struck off for taking advantage of his clients. Another attorney from his small law firm, Doug…

Dec 11, 2008 6:26 PM CST

Feds: Attorney Marc Dreier Stole $380M; a ‘Houdini of Impersonation’

Calling New York attorney Marc Dreier a “Houdini of impersonation and false documents” who allegedly stole $380 million from hedge funds and investors, a federal prosecutor today urged that he be held without bail. Assistant U.S. Attorney Jonathan Streeter also said the alleged fraud has been ongoing since 2006 and…

Dec 11, 2008 5:12 PM CST

Strong Law Firms Stress Productivity Above Collegiality, Consultant Says

Many partners will pick collegiality as the most important element of a strong law firm culture. But a consultant whose firm advised two dissolving law firms would disagree. Peter Zeughauser lists four essential ingredients of a strong law firm culture, and collegiality isn’t among them. His article in the American…

Dec 11, 2008 4:38 PM CST

Dire Situation at Dreier: Bills Unpaid, Client Funds Allegedly Missing

Just when it seemed that the alleged situation involving the founder of Dreier and his disintegrating 238-attorney law firm could hardly get much worse, even more bad news is being reported. After he was arrested and jailed in Toronto last week, Marc Dreier allegedly managed to transfer $10 million in…

Dec 10, 2008 10:06 PM CST

Ohio Lawyer and University Trustee Indicted Over Real Estate Deal

A partner in an Akron, Ohio, law firm who is also a trustee of the University of Akron has been charged in a misdemeanor ethics case concerning a real estate deal that involved the university and property in which he allegedly had an interest. Jack Morrison Jr., 56, has been…

Dec 10, 2008 7:20 PM CST

Dreier Controller: I Refused Jailed Boss’s Request for Escrow Millions

The controller of the Dreier law firm says in a sworn statement that he refused to wire up to $10 million in escrow funds to his boss sitting in a Canadian jail. The statement was contained in court filings by the Securities and Exchange Commission, the Wall Street Journal reports.…

Dec 10, 2008 1:52 PM CST

How Attorney Marc Dreier Allegedly Sold Worthless Forged Paper for $113M

In an era of high-tech fraud, the founder of the Dreier law firm is accused of doing it the old-fashioned way. Using little more than his position and skills as a prominent and seasoned attorney, Marc Dreier allegedly tricked sophisticated investors into paying more than $100 million for worthless forged…

Dec 9, 2008 8:20 PM CST

Dreier Founder Charged in ‘Brazen’ Alleged $100M Investment Fraud Attempt

The founder of the not quite 250-attorney Dreier law firm was charged today by federal prosecutors in Manhattan with securities and wire fraud, in connection with what an Securities and Exchange Commission official describes as an alleged “brazen” attempt to cheat three unnamed hedge funds out of $100 million. Marc…

Dec 8, 2008 8:09 PM CST

Big UK Firm Has Partners Hold Funds, Avoids Scary Bank Deposits

Thinking that its money would be safer in the hands of the law firm’s 112 partners, Addleshaw Goddard has paid them 12 million pounds (that’s about $17.8 million in U.S. dollars) but told them they can’t spend it yet. The 779-lawyer United Kingdom firm accelerated payments for 2007-2008 profits to…

Dec 8, 2008 5:04 PM CST

At White & Case, Top Lawyers Bill as Much as $1,260 an Hour

Nearly 71 percent of large law firms surveyed hiked billing rates this year, with one firm charging rates of more than $1,200 an hour. The average partner rate, however, was considerably lower at $451 an hour at all law firms surveyed. White & Case reported the highest billing rate—$1,260 an…

Dec 8, 2008 2:35 PM CST

Fewer Lawyers Making Partner in Big Calif. Firms

Eight out of 13 large California law firms announcing new partners are promoting fewer lawyers than last year. Law firm consultants say they aren’t surprised. “I would be amazed if there wasn’t a reduction in the admission of new partners this year,” Brad Hildebrandt of Hildebrandt International told the Recorder…

Dec 8, 2008 1:58 PM CST

Dreier Law Firm Could Collapse Following Founder’s Arrest

The Dreier law firm is in turmoil after the arrest of its founder last week and reports of a separate federal investigation into firm finances. Several nonequity partners told the Wall Street Journal they believe the 238-lawyer firm could collapse, spurred by the legal troubles and the departure of several…

Dec 8, 2008 12:19 PM CST

Canadian Police Arrest Founder of Dreier Law Firm

The founder and managing partner of the Dreier law firm has been arrested in Toronto on a charge of criminal impersonation, according to published reports. Marc Dreier was arrested earlier this week, according to Above the Law, which broke the story. An anonymous person who works with Dreier told the…

Dec 5, 2008 2:38 PM CST

Ex-Brobeck Leader Seeks Legal Comeback

The former leader of the dissolved law firm Brobeck, Phleger & Harrison is seeking a return to law practice after a 3½ year hiatus. Tower Snow Jr. tells the Recorder that he misses San Francisco and law practice and is looking for a job as a securities litigator. The financial…

Dec 5, 2008 1:12 PM CST

Ex-DOJ Official on Leave from Hunton as US Attorney Probe Progresses

The former chief of staff for ex-Attorney General Alberto Gonzales has taken a leave of absence from Hunton & Williams as an investigation into the firing of nine U.S. attorneys progresses. A Hunton spokesman told the Washington Post that the former Justice official, D. Kyle Sampson, is on leave “pending…

Dec 3, 2008 5:10 PM CST