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.


Interesting Legal Sites You May Like




Search Now

Attorney with 8 years of civil litigation experience

USA-CA-Los Angeles

Westside law firm of our client is seeking an attorney with 8 years of civil litigation experience, ...

Apply Now

Senior Attorney with litigation experience

USA-NY-New York City

New York City non profit is seeking a senior litigation counsel to manage litigation strategy as wel...

Apply Now

IP Technical Advisor with 1-3 years of software experience


Alexandria office of our client seeks IP technical advisor with 1-3 years of experience in IP applic...

Apply Now

Attorney with 3-8 years of corporate experience


Montvale office of our client seeks attorney with 3-8 years of experience in corporate and business ...

Apply Now


Litigation Associate (Junior to Mid-Level) - Medical Malpractice - Garden City, NY

USA-NY-Garden City

Defense firm seeking junior to mid-level associate for Garden City office to fill Medical Malpractic...

Apply now



Lang, Richert & Patch a Fresno area AV-rated law firm located in the highly desirable Fig Garden Fin...

Apply now



INSURANCE DEFENSE / TRANSPORTATION LITIGATION Law firm located in North Houston seeking an associ...

Apply now

Hotline & Training Managing Attorney (IMMIGRATION)

USA-NY-New York City

Summary: The Hotline & Training Services Managing Attorney will guide, develop, and supervise the Ho...

Apply now

Most Popular


To Top