Comments on: The strange, profitable world of the junior lawyer http://www.crikey.com.au/2009/07/17/the-strange-profitable-world-of-the-junior-lawyer/ now with extra source Sun, 12 Feb 2012 02:48:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Joe Seeth http://www.crikey.com.au/2009/07/17/the-strange-profitable-world-of-the-junior-lawyer/#comment-31625 Joe Seeth Fri, 17 Jul 2009 17:08:14 +0000 http://www.crikey.com.au/2009/07/17/the-strange-profitable-world-of-the-junior-lawyer/#comment-31625 Lets be honest it's the legal profession that has enabled corporations to ship everyone else's jobs overseas. So they can't expect a lot of sympathy when it's finally their turn. Lets be honest it’s the legal profession that has enabled corporations to ship everyone else’s jobs overseas. So they can’t expect a lot of sympathy when it’s finally their turn.

]]> By: billie http://www.crikey.com.au/2009/07/17/the-strange-profitable-world-of-the-junior-lawyer/#comment-31598 billie Fri, 17 Jul 2009 07:43:10 +0000 http://www.crikey.com.au/2009/07/17/the-strange-profitable-world-of-the-junior-lawyer/#comment-31598 Law students should look at the history of IT offshoring to see what the future holds and yes if the menial tasks are done overseas then in 20 years time the skilled jobs will also be done overseas because there are no experienced locals Law students should look at the history of IT offshoring to see what the future holds and yes if the menial tasks are done overseas then in 20 years time the skilled jobs will also be done overseas because there are no experienced locals

]]> By: Tom McLoughlin http://www.crikey.com.au/2009/07/17/the-strange-profitable-world-of-the-junior-lawyer/#comment-31595 Tom McLoughlin Fri, 17 Jul 2009 07:29:31 +0000 http://www.crikey.com.au/2009/07/17/the-strange-profitable-world-of-the-junior-lawyer/#comment-31595 I wouldn't get too misty eyed about developer and corporate clients of big law firms and their charge out rates. My one big case with a certain top 10 law firm in Sydney back in the day was a bill of costs against a former client (foreign based) developer. According to folklore said client decided rather than pay his monthly bank interest bill for his hefty casino development loan, he decided dropping $100K a month on a 'million dollar law firm' to sue his bank instead. Beats paying interest to the bank on stalled development. And sure enough the client ended up owing my firm $600K in unpaid legal fees while suing his bank, and lost that case as well. Now the firm was after his tail and not just the bank. Our case was about efficacy of the billable hours, enforcement in a foreign common law jurisdiction etc. All before legal lion Justice Einfeld. And we won a costs judgement against the 'poor' client, God bless the billable hour, but it was a bizarre case. The firm had a lien over about 240 boxes of documents until the ex client coughed up, in a dusty basement in Bridge St. My job was to collate time sheets relating to that monster. Never did find out if the client paid up as I got the shove in the 1991 recession (like quite a few suckers just now), with a neat retrenchment payoff - which helped fund my green ngo work to remove the Fahey Coalition Govt from office for its poor forest policies. Developers and their lawyers: A marriage made in hell amongst consenting adults. ......................... Another great story about lawyers - senior partner invites his protege, a mid level associate to his palatial harbour side home for dinner. On the tour the senior partner says wistfully to the ambitious young bloke 'If you work another 10 years of hard slog, 14 hour days, weekends, and unquestioning loyalty to the firm, then I can have another one just like this." I wouldn’t get too misty eyed about developer and corporate clients of big law firms and their charge out rates. My one big case with a certain top 10 law firm in Sydney back in the day was a bill of costs against a former client (foreign based) developer.

According to folklore said client decided rather than pay his monthly bank interest bill for his hefty casino development loan, he decided dropping $100K a month on a ‘million dollar law firm’ to sue his bank instead. Beats paying interest to the bank on stalled development.

And sure enough the client ended up owing my firm $600K in unpaid legal fees while suing his bank, and lost that case as well. Now the firm was after his tail and not just the bank. Our case was about efficacy of the billable hours, enforcement in a foreign common law jurisdiction etc. All before legal lion Justice Einfeld.

And we won a costs judgement against the ‘poor’ client, God bless the billable hour, but it was a bizarre case. The firm had a lien over about 240 boxes of documents until the ex client coughed up, in a dusty basement in Bridge St. My job was to collate time sheets relating to that monster. Never did find out if the client paid up as I got the shove in the 1991 recession (like quite a few suckers just now), with a neat retrenchment payoff - which helped fund my green ngo work to remove the Fahey Coalition Govt from office for its poor forest policies.

Developers and their lawyers: A marriage made in hell amongst consenting adults.

…………………….

Another great story about lawyers - senior partner invites his protege, a mid level associate to his palatial harbour side home for dinner. On the tour the senior partner says wistfully to the ambitious young bloke ‘If you work another 10 years of hard slog, 14 hour days, weekends, and unquestioning loyalty to the firm, then I can have another one just like this.”

]]>