In a February memo to Citibank, former Brobeck partner Stephen Snyder outlined fee revenue Brobeck anticipated receiving through Dec. 31. Snyder drew up the document in an unsuccessful effort to convince Citibank to back a reconstituted version of Brobeck consisting of six partners. Snyder confirmed the existence of the memo, but declined to comment on it.
But former Brobeck partner Franklin “Brock” Gowdy, who previously represented Tickets.com, who allegedly owes the firm $13 million, said he thought the firm’s fee agreement with Tickets.com was “still considered to be a contingent asset of Brobeck in liquidation.”
Brobeck defended online ticket seller Tickets.com in a copyright infringement and unfair competition suit brought by competitor Ticketmaster Corp.
The memo to Citibank was Snyder’s last-ditch effort to keep some form of Brobeck alive. He had initially tried to get a larger group of partners to stick together. Three days after Brobeck announced it was disbanding he held a meeting with about 50 partners, telling them he believed Brobeck had solid assets and enough lawyers to convince Citibank to back a reconstituted firm.
When partners opted instead to join another firm Snyder continued negotiating with Citibank to back a team of six partners. In addition to Snyder, the group included James Miller, Michael Molland, Diane Rice, Jeffrey Kaiser and Kelly Wooster.