SNR Denton memo confirms talks to take on Dewey partners
SNR Denton's chief executive Elliott Portnoy has confirmed to partners that the firm is in talks to take on "strong, profitable parts" of embattled Dewey & LeBoeuf in New York, Washington DC and elsewhere in its global network. An internal memo sent out by Portnoy yesterday (2 May) set out the firm's intention to add teams of lawyers from Dewey, which has seen around 90 partner departures globally since January and is currently trying to renegotiate its bank facilities.
May 03, 2012 at 08:21 AM
2 minute read
SNR Denton's chief executive Elliott Portnoy has confirmed to partners that the firm is in talks to take on "strong, profitable parts" of embattled Dewey & LeBoeuf in New York, Washington DC and elsewhere in its global network.
An internal memo sent out by Portnoy (pictured) yesterday (2 May) set out the firm's intention to add teams of lawyers from Dewey, which has seen around 90 partner departures globally since January and is currently trying to renegotiate its bank facilities.
The memo does not reference the possibility of a full merger between the two firms, and partners within SNR Denton's London office said this was not an option under consideration. A Dewey spokesperson also confirmed that the two firms had not discussed a merger, with talks focusing on the addition of teams. Press reports in the US over the weekend had suggested the pair were discussing a merger.
SNR Denton said in a statement: "We enjoy strong relationships with many law firms around the world. However, we never comment on rumours about specific discussions or our continuing efforts to enhance SNR Denton's already robust global presence with locations in over 40 countries."
Confirmation of the talks with SNR Denton comes after Dewey's firmwide management issued a memo earlier this week telling remaining partners that they are under no obligation to stay with the firm.
As Legal Week revealed earlier this week, Dewey's City arm has started discussing options for an orderly wind-down of the firm's London limited liability partnership (LLP).
Further departures from the London office to be confirmed this week include Nabil Khodadad, the co-head of Dewey's project finance and infrastructure practice, who has joined Vinson & Elkins along with local partner Andrew Neiland. Meanwhile, tax partner Julio Castro is joining KPMG, while Stephen Walters has resigned from the firm.
Elsewhere, Dewey's German practice is in discussions over a move to McDermott Will & Emery, with the firm's Italian practice expected to make a decision about its future this week and its Moscow office in talks with several US firms.
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