Biglaw

Dewey & LeBoeuf Trial Has the World’s Attention
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Dewey & LeBoeuf Italy

Summary: With all big mistakes, there are lessons to be learned and the mistakes of Dewey & LeBoeuf are no different.

Dewey & LeBoeuf LLP was a major international law firm before its monumental collapse in 2012. Former employee Bruno Gattai believes there is a big lesson we can learn from Dewey.

  
What
Where


Gattai led 18 partners and 100 lawyers and staff in the two Italian offices of Dewey. He now leads private equity M&A Milan firm Gattai, Minoli, Agostinelli & Partners. He has been following the case from Italy and thinking about how the other firms can learn from it.

The first big lesson is that Big Law firms have a big Achilles heel because they do not have the tangible assets that translate to cash like smaller firms have. The turnover in the large law firms is similar to smaller sized ones, but they are at a greater risk of collapsing when large numbers of people leave. This has been used as part of the reason that Dewey failed.

The trial has highlighted the many years that the firm was winding down, starting in 2007 when Dewey Ballantine LLP and LeBoeuf, Lamb, Greene, & MacRae LLP merged together. In 2012, there was a mass exodus of partners due to the firm’s missed opportunities.

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!!




Gattai says that other firms should learn to keep the base costs down while fostering a culture of loyalty with partners in order to not repeat Dewey’s mistakes. Dewey had 40 partners at one time on their executive committee, allowing the frustration and confusion over accountability to happen.

Source: http://blogs.wsj.com/law/2015/07/15/attention-on-dewey-trial-spans-globe/



Photo: legalweek.com



 

RELEVANT JOBS

Director & Associate General Counsel - Litigation

USA-DC-Washington

How You’ll Contribute The Legal and Business Affairs (LBA) team assists the organization in...

Apply now

VP & Sr. Associate General Counsel, Technology, Operations & Facilities

USA-DC-Washington

How You’ll Contribute The Legal and Business Affairs (LBA) team assists the organization in...

Apply now

Associate Attorney

USA-NJ-Florham Park

Job Description The Law Office of Barry E. Janay, P.C. is a growing law firm with a focus on...

Apply now

Family Law Attorney

USA-OK-Yukon

Bedlam Law is looking for an exceptionally dynamic, highly motivated, self-starter with at least fiv...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Corporate/Transactional Attorney

USA-IA-Des Moines

Des Moines office of a BCG Attorney Search Top Ranked Law Firm seeks corporate/transactional attorne...

Apply Now

Corporate Attorney / Counsel

USA-NY-New York City

New York City office of a BCG Attorney Search Top Ranked Law Firm seeks corporate attorney with 5+ y...

Apply Now

Housing Finance Associate Attorney

USA-MN-Minneapolis

Minneapolis office of a BCG Attorney Search Top Ranked Law Firm seeks a housing finance associate at...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top