Dewey & LeBoeuf And The 'Unfinished Business' Doctrine
July 2, 2012, 12:25 PM EDT
Law360, New York (July 2, 2012, 12:25 PM EDT) -- The recent Chapter 11 case of the storied New York law firm Dewey & LeBoeuf LLP will raise a host of issues attendant to the dissolution of a modern-day “big law” firm partnership. Chief among these issues is likely to be whether the profits earned by former Dewey partners in completing Dewey’s open client matters belong to Dewey or the former Dewey partners.
The unfinished business doctrine establishes the general rule that, absent a contrary provision in the partnership agreement, any business that is unfinished on...