Categories:United States

Dewey's Sharp hits out at stricken firm's US management

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  • Yes Peter, we believe you.....who could possibly think you put # 1 first?

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  • 20 April: decides to look for another firm. Finds a firm, starts and completes negotiations and leaves by 3 May. 7 working days from start to finish. That was a very quick negotiation, Mr Sharp. Congratulations.

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  • Let's face it Peter Sharp was ignored ever since the merger took place and was never involved in the day to day operations anyway. This whole mess is no surprise bearing in mind the various warnings over the last 2-3 years. The only surprise is that is has taken this long for the Partners to man the lifeboats. If I hadn't been paid my salary for 2009/2010 I would be pretty annoyed to be fair!

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  • How can you say Peter was ignored and was never involved in the day to day operations? He attended all the Executive Committee meetings, all the London Policy Committee meetings and he was the head of the London office. No-one was more involved than Peter.

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  • If he was that involved day to day then why didn't he stop this debacle snowballing bearing in mind all of the warning signs. A few examples that go back years not months.
    Why didn't he stop the US diverting funds into their own bank accounts for London bills starving London of cash so they could not meet the monthly obligations?
    Why didn't he ensure that vendors/landlords/taxes were paid on time? Or if obligations could not be met then at least reduce services accordingly?
    Why didn't he make sure that capital commitments for leavers were honoured?
    The fact is he was not involved in the day to day operations otherwise he would have seen this coming like the rest of us. The only guy that tried to cut spending and increase income was Steve Horvath hence why he was given the global role.
    One final point is that if you accept the title Managing Partner along with the juicy compensation that comes with it then you should make it your business to know all of the above!

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  • either delusional or (as he served on those committees) cowardly
    mort pierce also claimed he didn't know what was going on despite being on all such committees in nyc
    gimme a break - tells you who ends up leadership positions in law firms

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  • Peter was head of the UK LLP, and is an English solicitor regulated by the SRA. As such, he owned the usual duties to the UK LLP and its creditors as a director, fiduciary duties to the other members of the UK LLP, and was obliged to comply with SRA regulations. It is surely not the case that he considered himself hamstrung by what New York wanted him to do. The discharge of his duties to the UK LLP, its other partners and the SRA would presumably have required him to exercise a lot more independent judgment than just relying on instructions (or lack of instructions) from New York. It seems lame to try to excuse his conduct on the ground that New York failed to tell him what to do.
    Was he the managing partner, or not? We have lived though Emile Heskey, the non-scoring centre-forward, now do we have Peter Sharp, the non-managing managing partner? Sign him up as your assistant for the Euros now, Roy.

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  • the fact that sharp negotiated the deal with morgan lewis in about a week is more down to morgan lewis being desperate to expand in london and therefore not doing much (if any) due diligence. so they have taken on a three partner litigation team in london where previously they had no disputes practice, and the entire moscow and almaty offices in countries where they had no presence. it appears to be a case of getting what they could, doing due diligence afterwards (over the next year or so?) and then right-sizing it later. maybe morgan lewis will make sharp the head of their london office now, and he can have the honour of sacking his dewey colleagues when it hasn’t worked out.

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  • Sharp practices?

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  • Breaking news-just formally gone into administration. Security passes will not work after 6pm!
    By the way we will be deducting the balance of season ticket loan from your last paycheck even though any cancelled tickets will be refunded directly to us!

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  • ^ haha, simple but effective

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  • It all started going wrong from the day Peter Sharp joined LeBoeuf Lamb Greene & MacRae - one bad egg......

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  • What sort of due diligence did White & Case do on Mort Pierce? Did they look beyond his claim to bill 10,000 hours pa?

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  • Just to give you a bit more insight into this guys involvement and business acumen.
    A few months ago he suggested turning one of the empty floors at Stalag Minster Court into a coffee bar! I mean come on.
    London also quite recently (1 yr ago) signed new leases on all floors. Shocking bearing in mind the financial indicators available (that were ignored by all).

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  • So yesterday afternoon they called all the employees together in London and sacked everyone but a small team needed to wind things up. The London office is in administration, and the US firm is in Chapter 11. And where is Peter Sharp? Leading from the shore, with a healthy paycheck from Morgan Lewis. Thanks, Peter.

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  • This is going to be truly horrific for the partners. Overdrawn current accounts leading to recovery action with a liquidator looking at every conceivable avenue available to him.
    BDO do of course already have a blueprint following their involvement with Halliwells and will have learnt from this.

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  • While it is very easy to make a scapegoat of Peter Sharp, he was not responsible for the demise of Dewey. If you have to point the finger try New York. Peter Sharp was not a member of the Executive Committee whereas other London partners were. London was a well managed office, but given its ties to New York, unable to extract itself from the carnage. Yes Peter Sharp left but he took other partners, associates and support staff with him and since leaving has also found homes within his new firm for other support staff, haven’t seen any other ex D&L partner doing the same. If they did some more of us might have jobs to go to.

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  • To 29-May-201 @ 11:52 - Hi Peter! Or is that your mum?
    If Peter wasn't on the Executive Committee, then why did he attend every meeting? He certainly was a de facto member at the least.

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  • Could Peter or his puppet tell us how many 'partners, associates and support staff' he took with him and how that works? Other partners blindly following him?
    Seems unlikely.

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  • Peter's hands were tied by what happened in New York and he did his best to try and prevent this from happening. No doubt he feels terrible for what has happened but is not solely to blame.

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