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Full-Text Articles in Law
High Drama And Hindsight: The Llp Shield Post-Anderson, Susan Saab Fortney
High Drama And Hindsight: The Llp Shield Post-Anderson, Susan Saab Fortney
Susan S. Fortney
This article explores several disadvantages associated with limited liability partnerships (LLPs) in the wake of the Anderson-Enron debacle. The article explains how conversion to LLP from a traditional partnership may undercut the incentive for partners to devote time and resources to monitoring and risk management activities. Additionally, the article notes that conflicts may arise regarding the payment of debts when a firm, without sufficient malpractice insurance, converts to an LLP. The article delves into the exodus problem caused by the lack of partners’ commitment to the firm. The article also describes the tension between partners over malpractice insurance decisions that …
Organizational Form As Status And Signal, Kimberly D. Krawiec
Organizational Form As Status And Signal, Kimberly D. Krawiec
ExpressO
In this Article, the author analyzes the reactions of 147 New York City law firms to the 1994 enactment of the New York Limited Liability Partnership statute, which provided New York law firm partners with the first convenient mechanism to limit their personal liability for partnership debts. Using both quantitative and qualitative evidence, she evaluates whether the behavior of New York law firms supports the signaling theory of organizational form—that is, the theory that firms use the partnership form to signal to the marketplace that they provide high quality legal services, due to either superior monitoring or to profit sharing. …
Resolving The Title Vii Partner-Employee Debate, Kristin Nicole Johnson
Resolving The Title Vii Partner-Employee Debate, Kristin Nicole Johnson
Michigan Law Review
In January of 2001, a New York court issued an order affirming a plaintiff's ability to bring suit against a law firm partnership for discriminatory acts that occurred during her tenure as an associate at the firm. The plaintiff, Stacy Ballen-Stier, joined Hahn & Hessen, L.L.P. as an associate and, on January 1, 1997, the firm invited her to join the partnership. According to Ms. Ballen-Stier's complaint, the words and actions of a fellow partner, Mr. Blejwas, created a hostile and abusive work environment and continued to plague her "even when [she] was away from the office." Ms. Ballen-Stier alleged …
High Drama And Hindsight: The Llp Shield Post-Anderson, Susan Saab Fortney
High Drama And Hindsight: The Llp Shield Post-Anderson, Susan Saab Fortney
Faculty Scholarship
This article explores several disadvantages associated with limited liability partnerships (LLPs) in the wake of the Anderson-Enron debacle. The article explains how conversion to LLP from a traditional partnership may undercut the incentive for partners to devote time and resources to monitoring and risk management activities. Additionally, the article notes that conflicts may arise regarding the payment of debts when a firm, without sufficient malpractice insurance, converts to an LLP. The article delves into the exodus problem caused by the lack of partners’ commitment to the firm. The article also describes the tension between partners over malpractice insurance decisions that …
The Ethical Implications Of The Limited Liability Status In The Practice Of Law, Elizabeth C. Woodford
The Ethical Implications Of The Limited Liability Status In The Practice Of Law, Elizabeth C. Woodford
Kentucky Law Journal
No abstract provided.