Dishing the debt

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  • Great investigative article, more like this please.

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  • How did you get all this information.

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  • All of this is will be familiar to anyone with knowledge of the Mayer Brown/Rowe &Maw/JSM mergers. All sides did little or no DD, cultures were incompatible and (despite being experts in M&A) the results were predictable. The one big difference is debt. MB had very little pre or post merger, with real estate costs being the big drag on the firms now. If MB had big debts, they probably wouldn't be around to tell the tale.

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  • So many mistakes but primarily a firm lead and managed by people with no experience of running a "major" international law firm who simply thought that post merger 2 + 2 would equal 5. And it doesn't look like the new Committee have much more experience.

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  • I left shortly after the merger and still shudder when I think of it. We used to call it "The Deathstar".

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  • And where are McKinseys in all of this? They were brought in to advise on many, many issues surrounding the merger (pre and post). They claim to be experts in professional services firms. They have been, and continue to be, instructed by countless law firms, both English and American, at huge expense, to advise them on these and many other issues. They ought to have seen this coming. The alarm bells first went up for me when I read that they had advised the new firm in London not to have a managing partner. Really??? It doesn't take a genius to foresee the problems that would arise from not having a dedicated person at the helm from day one. If they are as good as they, and everyone else, think they are, and they are so confident in their own position, then they should be prepared to defend their advice. Yet they declined to comment. Shame on them.

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  • And what of their South african office - it always seemed an odd place for them to be when it just had scott brodsky in it. But their merger there made no sense. What is happening with these guys now?

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  • Chapter 11
    inslovency
    closing offices everywhere
    deadline is end of may or smth like that

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