Thacher Wants Salary Advances Back
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

I have come for my money! Bwa ha ha ha!Dissolving Thacher Proffitt & Wood is pursuing its former first-year associates over money provided for bar expenses.

The firm’s dissolution committee and bank are going after the former associates for repayment of salary advances issued last year to cover their bar and start up expenses.

Omer “Jack” Williams, a former Thacher managing partner who chairs Thacher’s seven-member dissolution committee, says associates knew the money was a loan when they took it. “In the exit interviews, we made it clear we anticipated they would pay their loans back,” he said.


Perhaps when the associates joined the firm, they made it clear they expected to be employed so they could pay the money back.

Williams says the committee hasn’t taken any legal action to collect the loan balances and hasn’t discussed what it will do if associates don’t pay.

Thacher, which had nearly 200 lawyers firmwide, was forced into dissolution in December, before the new associates had a chance to fully repay the loans out of their salaries.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!

Latham & Watkins, which last week laid off 190 associates firmwide, will not seek to get back the bar stipend it paid associates.

DLA Piper also isn’t requiring recently laid-off associates to pay back salary advances.

Bankrupt Heller Ehrman also won’t pursue repayment.





Paralegal Big Fire Law & Policy Group LLP is seeking an experienced Paralegal to join our Firm. ...

Apply now

Senior Corporate / Commercial Attorney |


Downs Rachlin Martin – Northern New England’s largest business law firm - has a signific...

Apply now

Senior Counsel, Shared Services & Litigation


Southwire is seeking to hire an experienced attorney to serve as Senior Counsel to provide advice an...

Apply now

Employment Advocate


Legal Authority is at the forefront of the job placement industry. We are looking for an experi...

Apply now




Search Now

Junior Litigation Associate Attorney

USA-CA-Beverly Hills

Beverly Hills office of our client seeks junior associate attorney with 1-2 years of experience in l...

Apply Now

Immigration Attorney


Oakland office of our client seeks immigration attorney with 3-5 years of experience. The candidate ...

Apply Now

Litigation Associate Attorney

USA-TX-Fort Worth

Fort Worth office of our client seeks litigation associate attorney with 3-6 years of experience. Th...

Apply Now

Most Popular


To Top