3 Tips for Handling the Difficult Decision to Downsize
August 01, 2017
By handling all involuntary terminations with professionalism and formality, law firms can limit the potential for conflict and give proper attention to the potential ethical and legal issues. Here are three tips for handling the transition of attorneys and staff from the firm.
The Law Firm Value Proposition
August 01, 2017
<b><i>How to Successfully Hire Lateral Partners</b></i><p>While a law firm asks for specific education, experience, contacts and portables at certain law firms, what if the candidates were to ask for their own list of must-haves? How would a firm measure up?
Court Holds That Deposits Would Be Hypothetical
August 01, 2017
In a recent ruling, the Ninth Circuit held that bankruptcy courts may permissibly engage in "hypotheticals within hypotheticals" so long as the inquiry is factually warranted and is supported by appropriate evidence, and provided further that the hypothetical action would not contravene any other provision of the Bankruptcy Code.
Bankruptcy Litigation Update: Determining Adequate Capital
August 01, 2017
This article focuses on the concept of "unreasonably small capital," which is not defined in the Bankruptcy Code or applicable state statutes. Consequently, the determination of adequate capital is fact-intensive and fertile grounds for litigation.
The Business Intelligence to Competitive Intelligence Continuum
August 01, 2017
Where law firm leaders' "gut judgement" was once sufficient, running the business well now requires solid intelligence (yes, Big Law is a business). Decisions must balance the demands of clients with those of the partnership. Law firms are awash in data, but harnessing it to support sound decision-making is a major challenge.
Forensic Accounting: When Do You Need It?
July 02, 2017
Most matrimonial attorneys have heard a client, typically the "out-spouse" in a marriage with a business interest, say, "The books are cooked," or "Personal expenses are being paid by the business," or "The accounting records are fiction." Failing to probe these issues may cost your client a lot of money when the asset division takes place, and may leave him or her dissatisfied with your representation.
The Am Law 100: Dark Clouds on the Horizon
July 02, 2017
While the year-on-year trends look appealing, a longer-term analysis reveals that many key metrics are showing signs of pressure, and firm performance is growing increasingly erratic. The Am Law data reveals that the past year has been good to Big Law but it also shows growing signs of problems on the horizon.
Third Circuit Sides With Creditors in EFIH Make-Whole Dispute
July 02, 2017
At the end of last year, the Third Circuit added to several recent decisions addressing whether a creditor was entitled to payment of a "make- whole" premium in connection with a Chapter 11 case. The court's opinion is the most creditor-friendly decision issued to date on this topic.
Motivating Attorneys To Accomplish Firm Objectives
July 02, 2017
Absent the willingness or inability of first tier partners to create an environment in which blossoming attorneys can achieve their personal, professional and economic objectives, the likelihood is that these very attractive partners may leave to join other law firms.
Law Firm Strategy Execs Wield Uneven Clout
July 02, 2017
The role of chief strategy officer (CSO) — increasingly common in corporate America — has been adopted by relatively few law firms. Consultants say perceptions of what the position entails and whether it's necessary vary widely throughout the legal industry.
