High flying and aggressive US-based law firm Boies Schiller continues to make the news, the latest interest being around the law firm’s apparent failure to make the raises to associates which was apparently due to be made on October 15, then at the end of the month and now . .
The obvious rumors reported in American Lawyer and elsewhere are that there may be cash flow issues for the firm which has recently faced issues around departing partners.
The firm has had a tumultuous time of late with departing partners. Among the issues facing the firm have been bad press received by founder David Boies with his controversial work for profile clients, as well as a slip for the firm in the AmLaw rankings.
Since the new leadership took over the firm, 31 partners have left the firm with 15 going from the LA office in April. The firm also fired a number of associates and staffers in LA.
The original pay plan was for the law firm to match those paid by Cravath Swaine & Moore, but now concerns are arising about the reason for the non-payment.
Firm co-chief Natasha Harrison received a high profile piece in The Times recently, where ‘the lawyer from Croyden’ moved from the UK to the US to co-manage the firm, but clearly faces challenges with the recent events, both economically and in terms of whatever the Boies Schiller balance sheet reveals.
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