Biglaw

Former Dewey Partner Blames Greedy Partners, Not Firm Leaders
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

ralph ferrara gives testimony

Summary: A former Dewey rainmaker gave testimony against the firm’s former leaders.

Considering that the collapse of Dewey & LeBoeuf LLP historically ranked the largest law firm bankruptcy, it was inevitable that creditors would seek out Dewey’s former leaders. In a trial that is expected to last upwards to six more months, is has continued this week with testimony from Ralph Ferrara, a former rain-maker who at $5 million yearly was one of the highest paid partners.

  
What
Where


Though called on by the prosecutors, Ferrara’s testimony played just as well into the hands of the defense. His key narrative regarded a closed-door meeting of February 2012 when Chairman Steven Davis, who is one of the three defendants in this case, lost his cool in a dispute about the firm’s finances, claiming that Dewey had lied to him in order to get his former firm, LeBoeuf Lamb Green & MacRae LLP, to merge with them.

“I took all of this on and tried to make it work, so don’t sit here and tell me today that I brought this firm down,” Ferrara claims Davis said at that meeting.

The defense is hoping to paint the firms’ collapse as owing a lot to lawyers who left from “fear and greed.” Indeed, after that significant meeting, a mass exodus of lawyers lost faith in the firm, and sought their fortune and success elsewhere.

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!!




“Inertia is a particularly powerful force, and that snowball was rolling down the hill with every departure,” explained Ferrara – a telling bit of testimony considering he himself left for Proskauer Rose in May of 2012.

Ferrara further called Davis a “visionary leader,” in the same tone this Monday as he had, last Thursday, called Sanders “solid as a rock,” and of DiCarmine, “If you knew Steve DiCarmine, you’d say this is the guy I’d like to have run my company.”



This is all useful testimony for the defense, though Ferrara was intended to be used as a witness against the three leaders of Dewey.

News Source: Law360



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

General Municipal Law Attorney with land use experience

USA-CA-Oakland

Oakland office of our client seeks general municipal law attorney with experience advising public ag...

Apply Now

Mid-level Restructuring Attorney with bankruptcy experience

USA-DC-Washington

Washington, D.C. office of our client seeks mid-level restructuring attorney with 4-6 years of exper...

Apply Now

Senior Land Use Attorney with experience

USA-CA-San Francisco

San Francisco office of our client seeks senior land use attorney with 7+ years of experience. The c...

Apply Now

Employment, Labor and OSHA Attorney with 3-6 years of experience

USA-TX-Dallas

Dallas office of our client seeks employment, labor and OSHA attorney with 3-6 years of experience. ...

Apply Now

RELEVANT JOBS

Attorney

USA-CA-San Francisco

As an in-house legal counsel at Wix’s legal department, you will play a significant role in de...

Apply now

Attorney

USA-MO-Kansas City

Successful, expanding KC personal injury law firm seeks an attorney with 5+ years personal injury li...

Apply now

Civil & Business Litigation / Transactional Attorney

USA-CA-Clovis

Law firm with primary emphasis in Business & Civil Litigation and transactional work, seeks confiden...

Apply now

CIVIL LITIGATION ATTORNEY - Employment

USA-CA-Fresno

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

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top